RE:RE:RE:RE:2.3 cent warrantsNow, that is SIMPLY a fantastic and informative response to my post. Greatly appreciated and it's good to have feedback from somebody that has been invested in the company since the early days.
And in total agreement with you about the negative optics of the forward split and the whole Eight Capital PP financing fiasco which had to to cancelled and redone through a different company.
JustASimpleGuy wrote: longonMJ wrote: JustASimpleGuy wrote: JustASimpleGuy wrote: Checking SEDI this morning I see Hugo exercised all of his 2.3 cent warrants. That's roughly 7 million.
The Deep Dive analysis had the 0.023 warrants (0.07 / 3 = 0.023) at:
31,353,757 - 2/21/2019
46,162,865 - 3/12/2019
21,713,649 - 3/19/2019
My calculations have them at:
60,927,546 - 2/21/2019
54,818,319 - 3/12/2019
21,713,649 - 3/19/2019
Between Nesta, Alves, Licker and Tung 44,505,321 have been exercised and their balances are all at zero. Now that's probably for a specific offering, so they probably have more 0.023 warrants for other offerings.
As I have stated before, investors have long memories and I strongly believe this is one of the primary reasons why the share price of CBW has been held back and at such low valuations relative to other weed companies.
Definitely does not look good when you issue tens of million of shares and warrants to insiders at only mere pennies, and then have the audacity to conduct a forward split on them so that they are actually available to insiders at what I would call mini- pennies relative to what the regular investing public has to pay for them. Definitely grrrrrr....
Although this might not be the case, it certainly leaves you with a feeling of mistrust and lack of care for the regular shareholders. Especially when the impression that is left is of insiders lining their pockets with millions of dollars through these 10's of millions of mini penny shares while the regular shareholders are just seeing penny icreases and decreases in the share price on a daily basis.
They definitely have to work their way through all of these outstanding penny warrants and get them off the books before we will ever see any true incremental increaes in our share price here.
For these three offerings the pricing of the special warrants (0.055) and CD warrants (0.07) was in-line with the share price of Knightswood Finaincial. It was before they had any acquisitions or streaming deals and before the current management team came on-board. Some members of the current CBW management team were obviously subscribers to these offerings.
The 3-1 forward split also occurred before change of management and before the aggreement with 2557788 Ontario Ltd and acquisition of the rights to PanCan's 13 streaming partner agreements.
The CFO resigned on March 2nd and on May 5th Chuck & Crew came on-board and Maurice Levesque (President and director) and Stephen McCoach (Chairman and director) resigned.
I really don't find any fault in the initial offerings of the cheap paper. It was prior to any acquisitions and the $2M+ raised covered the above two deals. In other words a huge risk for an entity that wasn't anything more than an idea. However the forward split has really bad optics whether it was nefarious or not, and the cancelled Eight Capital PP fiasco threw fuel on the fire.