droidmeister wrote: There's probably no one left on this board who started to buy THC back in late 2015 except me, and folks I can tell you, I've looked over, at one time or another, virtually all of the documents this company has filed, going right back to the original reverse takeover that got them listed on the CSE.
A few things have always concerned me, but again, sometimes you buy stock because you think it's going to be a quick flip, in and out, you dont care about the fundamentals as long as the price is rising. Who can be bothered doing DD when the stock is going up 20% a day - it's just one big party day after day. Maybe you've got a bit of a nagging doubt in the back of your mind for the long-term, but when life is so good in the short-term, you just ignore those nagging doubts.
The first time I bought THC, at 8 cents, I sold some when it went to 13 cents. I'd made a 50 % proft. Did I care about certain unanswered questions? No, it was like, who cares as long as everyone's making money, right? We were laughing all the way to the bank.
There was a time in 2016 when it didnt matter what pot stock you owned. You just scattered your money all over the place and watched it grow. Everything was going up, and fast.
But looking back, the 3 or 4 things that have always concerned me about THC, are, in no particular order:
1. The CEO being a total mystery, no information on his previous career, education, professional associations, and the way he seems to keep a pathologically low profile, and doesn't use his middle name anywhere so that internet searches come up with way too many hits. I've always found that peculiar and troubling - it seems like he's hiding something.
2. The CFO - when the previous CFO resigned in 2016, Hee Jung Chun (Miller's wife) took over the position of CFO on an "interim" basis. Well, it's been about 2 years and that temporary position is looking pretty permanent. I've written the company and asked them if they can provide any information on what qualifies Hee Jung Chun to be the CFO of a publicly traded company - any professonal accounting designation, maybe a degree in finance or commerce, any previous experience managing the finances of a publicly traded company? As far as I know, the answer is "none of the above", and I received no reply to my e-mail.
3. The Board of Directors. The Board is supposed to represent the interests of the share-holders, but we're not even provided with contact information. No phone number or email address for Ashish Dave or George Smitherman, so how are we supposed to contact members of the board with our concerns or questions? This isn't a board, it's a farce.
4. The warrants that Miller gets every time there's a PP with Alumina. It's easy to understand why he wants the warrants, but there's never been an explanation of how this PP works, the detailed terms and conditions have never been made public. Some people, I think ModifyLtd is one of them, have said that the award of those warrants is at least unethical, and maybe worse.
All of the other stuff, the announcements that have been made, that have yet to be delivered, well those you could say are still in process. Maybe one day they'll ship that order to Germany, maybe one day they'll buy that greenhouse, blah, blah, blah. But those other 4 items, the anonymous CEO, the unqualified CFO, the useless Board, the warrants, those are different.
Anyway, I'm completely out of this company right now. Maybe I'll day-trade small amounts of THC from time to time. If it goes much lower I'll be tempted to buy some, hoping to make a few bucks on a bounce. But as a long-term investor, willing to buy and hold for the long-term to see $5, well I've been holding some THC for 3 years now - actually it's been too long. Sure I've bought and sold, but I always held onto a minimum of a couple of hundred thousand shares. THC always formed a solid part of my pot portfolio, but I'm 100% out now.
I guess the final thing I have to say is like a piece of advice. It took me a long, long time to decide to let go of this stock. Looking back, I can see I held on way too long. You can't be right 100% of the time. Sometimes you just have to admit you made a mistake, eat your losses, and move on. Overall, I still made a couple of hundred G's on THC over the past 3 years, so I can't complain... but I sure wish I'd sold all of the 650,000 shares that I owned on January 3 !!
Good luck. to all longs.
Hansnew3 wrote: Rambo007. Zoning by-laws-permits are needed for this locatio. How many growing spaces do they have in this location ready for production? CEO has never given...........*###