Thx Orbital for your DD. So bottom line you are saying this is a bad company misleading investors and folks holding should sell and move onto the other 300 odd mjj stocks that are all equally speculative, highly risky and most of them have no revenues including some of the biggest plays in mjj. What do u consider safe then? Where should we invest all our money? You are so good to point out how bad this is, pls do tell where we should be invested.
Orbital14 wrote: Ahh the power of the internet and public records.
here are NF's two locations:
Sumas
Sumas is confirmed using public permit records seen here.
Permits
Oroville
Oroville has the exact sale price & possesion date as stated in the financials. There is no hard confirmation, but it is extremely unlikely 2 properties in the same small town sold for the same amount on the exact same date.
Here is where it gets interesting...
Washington keeps all license holders and applicants public.
New Age's site lists "Bowls for Us Corp" in their corporate structure on the website as their customer.
Bowls for corp is registered at 8972 Frost Rd in Sumas. This company no longer exists but did hold a license at this address. Also registered as a company on Frost Rd is Evergrin. Evergrins marijuana grower license is the same number as Bowl for Us Corp license number. Looks like they changed their name.
At this Frost Rd 5 companies have applied for licenses to grow there in the past 2 years
P&R Processing
Great American Hemp Company
Marijuana Limited
Evergrin
Bowls for Us.
Draw whatever conclusions you like, but its all speculation. Regardless its a bit odd that Evergin/Bowls For us had a bunch of other companies trying to get licensed on their property.
So how does this all relate to NF? Well on the Chesaw site there are currently two people trying to get licensed. Evergrin and "Pams Plants". Pams Plants is using the same license number as Marijuana Limited, so Evergrin & Pams plants are somehow connected. and Evergrin was connected a few years ago to NF as "Bowl for Us"
NF has been talking about their big customers that are going to bring in all this revenue. Evergrin appears to be approved to grow there, although has a "withdrawn" note on their status, I am not sure what that means though.
Pams Plants is still pending license. Interesting, Both companies do not appear to have any marijuana sales in Washington yet as per the 502data.
Lots of talk of 24 million revenues in the first year. This leads into the rest of my DD but my big question is this. How is NF expecting to produce 24 million in revenue from customers that are not even established yet. Both of these customers, which all they are is corporate entities at this point also have links to eachother in the past.
NF appears as if they are a company with 400,000 in real estate, with grand ideas, but no established customers, revenue or proven business model in the state. hmmmm
For the rest of my DD see the following link
New Age Farm DD