|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.5275 - 0.5601|
|52 Week Range||0.3620 - 3.0490|
|Beta (3Y Monthly)||4.81|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
TORONTO , May 14, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) is providing this third bi-weekly default status report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").
While the cannabis sector was extremely hot in the last year, Namaste Technologies (NXTTF) stock has been one of the biggest failures. The company focused on building an online medical cannabis business and the market has shifted away from medical questioning the need for telemedicine applications. In addition, so many corporate red flags have the stock justifiably down to $0.50 where investors should stay far away.So Many Red FlagsGoing back to last September, Namaste Technologies appeared headed to great success. The company reported August revenues alone of $1.65 million and growth of over 300% for their Canadian websites.Shortly before the Canadian market allowed recreational cannabis sales, Citron Research published an article claiming outright fraud by the management team of Namaste. The company has all but imploded during 2019.Suddenly, the company headed for a NASDAQ listing and a successful online medical cannabis platform is in substantial turmoil that no investor can touch. Over the course of this year, the company commenced legal action against the now ex-CEO, replaced the auditor and changed several members of the board of directors.Now the company is still non-current with filing the quarterly report for the quarter ending February 28 as the calendar flips to May.Lacking Corporate UpdateThe company provided a corporate update back on April 25 where limited details were provided. The one big update provided was the addition of Kenneth Jones to the board of directors and chair of the Audit Committee. The biggest positive is that Ken was a Partner at PWC, but the lack of industrial experience or other related positions lacks the credentials Namaste needs to repair damaged investor confidence.The company still has an interim CEO and the corporate strategy updates provided limited details regarding how the business is doing during this disruptive phase of the last few months. Namaste MD and CannMart might have improved user experiences, but the business has likely lost customers.The purchase of Pineapple Express delivery services and the entering of the edibles market with a 49% position in Choklat all sound promising, but the company is still very high on promises and very low on results. The proposed marketplace for licensed producers and cultivators and devices is still under development with the company spending heavily for technology and infrastructure.TakeawayThe key investor takeaway is that Namaste needs to file quarterly results and hire a full-time CEO before even entertaining an investment in the stock. The market valuation at ~$160 million is still very rich for a business with limited sales and no profits. Not to mention, the high likelihood exists that quarterly results will struggle during a period where the market shifted away from medical cannabis with access to recreational cannabis in Canada and the corporate disruption likely impacting results and scaring off customers.The best advice here is to stay far away from Namaste Technologies until the dust settles. If the company hires a top notch CEO and builds an incredible marketplace, investors will have plenty of time to buy the stock in the future.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Disclosure: The author has no positions in Namaste Technologies stock. More recent articles from Smarter Analyst: * Trade War? Top Analyst Says Alibaba (BABA) Stock Still a Buy * The Green Organic Dutchman (TGODF) Stock — Not Sinking Exactly, But Not Sailing Anywhere Fast * Why Cannabis Stock HEXO Has a Bright Future * Aurora Cannabis Lost Money in Q3 -- And That's Okay?
Marijuana Stocks continue to take the spotlight and a big reason for this is can be summed up in 3 words, Marijuana Stock Potential, but what does this mean? As Graham Boyd explains, "Within the next two years, a majority of the United States will have adult-use legal cannabis. Boyd is a longtime supporter of legal cannabis and now runs the influential, pot-focused New Approach PAC.
TORONTO , April 30, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) is providing this second bi-weekly default status report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").
VANCOUVER , April 25, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) is pleased to provide the following corporate update with respect to an appointment to its Board of Directors, Corporate Strategy, and operational updates and web property improvements. Additionally, the Company is providing an update to its Annual General Shareholder Meeting ("AGM") plans. The Company is pleased to announce that Kenneth Jones has been appointed to the board of directors and chair of the Audit Committee today.
TORONTO , April 15, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) is providing this bi-weekly default status report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). As previously announced, the Company applied for and was granted management cease trade orders in respect of the delayed Annual Filings (the "MCTO") by the British Columbia Securities Commission and the Ontario Securities Commission which prohibit the chief financial officer and the interim chief executive officer from trading in the Company's securities for so long as there are filings that are outstanding under applicable securities laws. The MCTO does not affect the ability of the general investing public to trade in the Company's listed common shares.
TORONTO , April 2, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) announces that its principal regulator, the British Columbia Securities Commission, has accepted the Company's application for, and has granted, a management cease trade order (the "MCTO"). As previously announced on March 18, 2019 , the application for the MCTO was made by the Company due to a delay in the filing of its audited annual financial statements for the fiscal year ended November 30, 2018 , the accompanying management's discussions and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") by the filing deadline of April 1, 2019 .
CORAL GABLES, FL / ACCESSWIRE / March 25, 2019 / The marijuana stock market has endured a whirlwind of volatility over the course of the last few years but in the first few months of 2019, companies in the cannabis sector have managed to stay strong through bearish periods of trading. It seems as though a significant portion of the changes taking place in the marijuana industry is directly connected to the recent push from the public who are insisting that lawmakers pass positive cannabis legislation. Whereas in the past cannabis was largely condemned, nowadays, consumers are well-versed in the potential health benefits of cannabis products, and the general feeling towards the cannabis sector is shifting in a positive direction.
HENDERSON, NV / ACCESSWIRE / March 25, 2019 / While we all know about cannabis producers and CBD developers, ancillary cannabis plays are sometimes overlooked. That's too bad, because ancillary plays have ...
State legislators and lawmakers have seen the opportunities presented by supporting cannabis economies in their home states, and have advocated for legislation in favor of marijuana legalization. The past year has seen a major boom in terms of individuals who support the regulated cannabis industry, resulting in an exponential increase in persons looking to invest in the sector. Next Green Wave Holdings Inc (NXGWF) (NGW), MedMen Enterprises Inc (MMNFF), Namaste Technologies Inc (NXTTF), and HEXO Corp (NYSE American: HEXO) are 4 pot stocks worth keeping on your radar as we close out this week.
TORONTO, March 18, 2019 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) wishes to announce the appointment of Baker Tilly WM LLP ("Baker Tilly") as its auditor. This follows Namaste's prior announcement on March 5, 2019 announcing the resignation of PricewaterhouseCoopers, LLP as its former auditor. The Company's audit committee and board have approved the appointment of Baker Tilly effective March 15, 2019. Baker Tilly is a full-service accounting, tax and advisory firm with offices in Vancouver and Toronto. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 territories, with 33,600 professionals.
TORONTO , March 13, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that it has completed the previously announced acquisition of 49% of the common shares of Toronto -based Pineapple Express Delivery Inc. ("Pineapple Express"). In June 2018 , the Company announced that it had entered into a subscription agreement to acquire 15% of the common shares of Pineapple for $1,000,000 which comprised of $850,000 in cash and $150,000 in Namaste common shares (the "Subscription Agreement").
Cannabis sales have been soaring since legalization in Canada but there's a lot more to come as the industry continues to change. Here are some of the hottest cannabis stocks right now that are positioning themselves to take advantage of the fast-growing retail market. Westleaf has been making a name for itself in the industry as it looks to become a dominant force in the retail market.
CORAL GABLES, FL / ACCESSWIRE / March 7, 2019 / Marijuana stocks have had quite a solid couple of months thus far in 2019. As we’ve seen more lawmakers advocate for legislative changes in favor of cannabis legalization, the cannabis sector has responded favorably to the news. American Premium Water Corporation (OTC:HIPH), Namaste Technologies Inc (NXTTF), Innovative Industrial Properties Inc (IIPR), and Canopy Growth Corp (CGC) (WEED.TO) are 4 pot stocks bringing the heat on Thursday.
TORONTO , March 7, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) wishes to announce that Kiran Sidhu and Sefi Dollinger have resigned from the board of directors of Namaste Technologies Inc. to pursue other business interests. The Company thanks Kiran and Sefi for their service to the board in the past several years. The board of directors of the Company is now comprised of Laurens Feenstra , Branden Spikes and Kenneth Ngo .
The value of the transaction is C$1.5 million ($1.12 million), Toronto-based Namaste said in a Wednesday press release. Choklat is one of a few makers of premium chocolate in Canada and the only bean-to-bar maker in Alberta.
TORONTO, March 6, 2019 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that it has entered into a share purchase agreement (the "Agreement") to acquire 49% of the issued and outstanding shares of Calgary, AB based Choklat Inc. for $1.5 million in cash consideration. As part of the acquisition, Namaste will be appointing a member to the Board of Choklat. Choklat is a premium chocolate manufacturer with existing sales through its online eCommerce site and through a network of distributors across Canada.
TORONTO , March 5, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) confirmed today that PricewaterhouseCoopers, LLP ("PwC") will no longer be acting as the Company's auditor. The Company's audit committee and board have accepted PwC's resignation and are in advanced discussions with potential successor auditors, one of whom is in the final stages of its client acceptance process. The filings required under Section 4.11(5) of National Instrument 51-102- Continuous Disclosure Obligations will be made publicly available at www.sedar.com. The Company's annual financial statements are due to be filed by March 31, 2019 .
CORAL GABLES, FL / ACCESSWIRE / March 4, 2019 / Typically, individuals who view the marijuana stock market tend to focus on cannabis companies perfuming at the top of the industry, but this methodology completely overlooks potential companies otherwise flying under the radar. In terms of specific companies worth looking into, the recent trend has surrounding those which are working to develop products with cannabidiol, either derived from marijuana or hemp. CLS Holdings USA Inc (OTC:CLSH), TILT Holdings Inc (SVVTF), 1933 Industries Inc (TGIFF), and Namaste Technologies Inc (NXTTF) are 4 marijuana stocks setting the pace on Monday.
TORONTO, Feb. 19, 2019 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today is pleased to announce that it has reached a mutually agreed upon settlement with Sean Dollinger resulting in Mr. Dollinger entering into an advisory relationship with Namaste providing transition support to the Company to ensure the best interests of the business and stakeholders are met (the "Agreement"). Pursuant to the Agreement, Mr. Dollinger has withdrawn his previously announced legal application against the Company and has agreed to step down from all formal roles with the Company, including as a director, which will also enable him to spend more time with his young family and pursue other opportunities.