Beleave Inc BLEVF

Help in understanding

[ObviousNewbie]

I invested in this stock as a newbie in the market. 

Not a ton. But for me it was a decent amount. 

I made the purchase in 2017 when it was doing well. Intended for a long game 

it's clear this was a bad investment. Lesson learned. 

I do want an explanation if someone can explain in laymen's terms WTF happened here that would be lovely. 

AND any recommendations...
there's obviously nothing to pull out of this stock right now anyways. 

but if you know what's going on or can explain that would be super helpful

[Bahram3710]

And if someone knows if beleave is bankruptcy or sold or ....... why no news coming up they must tell us truth 

[ObviousNewbie]

I asked for information from them and was told to contact the creditor firm they are using 

[JDouble]

Basically the company was too late to the table in their expansion efforts. They moved forward with certification and a stable medical product but when the recreational market opened up my guess is that they didn't have the backing for expansion capital.  They aquired expansion capital late, their expansion plans and purchases were ambitious but the market peak and crash had already

[DerekVTXman]

No what happened is they did a PP with Bridgemark for $10 Million, and gave most of the money back to bridgemark as "Consulting Fees" (We have no idea how that money got distributed), then they dumped all those PP shares on the public marked (& we have no idea how that money got distributed either).  I was there, met some awesome workers at the facility, and the IR guy at the

[ObviousNewbie]

Is there anything being looked into for investment fraud?? I get this stuff happens but.... people deserve to at least get the truth 

[DerekVTXman]

Moral of the story, don't go long on CSE listed companies or better yet avoid them at all costs.  Stick to NYSE, NASDAQ, and TSX.

[KNOWLEDGEWINS]

This post has been removed in accordance with Community Policy

[ObviousNewbie]

Thanks for your reply   Thankfully other investments have done much better (slight covid dip but they've gone back up) Mosty looking for clarification on what's happening. The mismanagement etc. Can anything be done?  feels like a lot of cons here.  lessons learned for sure though