Greenlane Renewables Inc T.GRN

Impact of warrants?

[Motownwing]

In addition to the stock market correction affecting most companies, I believe that GRN SP is affected by the 0.26$ warrants that need to be exercised before June 3rd. From their regulatory filings, we can deduct that about 13 M warrants were still outstanding when they issued their 2020 financials on March 11th. In March and April, insiders (Demers, Nesmith, Blaiklock) have been active exercising warrants and selling shares - Nesmith sold 1.2 M shares @ 1.93 on March 24th. Not saying that it is the only reason for the SP drop but it has to be a contributing factor. IMO, we could see continued weakness until June 3rd which, if you believe in GRN potential, could be an opportunity to accumulate. Again, JIMO.

[timer2855]

Thanks for your commentary

[GoldenArm]

I agree with you. Naismiths selling may have influenced some today but majority of this is because nervois nellies got scared and sold and put the mney into banks and oil. Whch is great for me because I own banks and oil and they are up the last two weeks for one, and even better I get more shares in GRN at a lower price. The pipline I think is already over $1B and continuing to grow. Waste

[Zoolou1]

Very interesting. Let's hope for the best.

[bmbruce]

Yes warrants were being exercised and shares sold in significant volumes especially at the $1.57-1.58 price..

[jawstoyz]

How many warrants are outstanding??

[miscstuff]

We need more investors with money and no warrants. (lol)

[Motownwing]

PWC issued the 2020 audited financials on March 11 2021.  Financials state on page 19 that 19.7 M warrants (0.26$) were O/S as of Dec 31 2020 minus 5.9 M that were exercised between Jan 1 and March 11 2021 for a net balance of 13.8 M O/S warrants. I have not found more recent info.

[GoldenArm]

I just keep buying on the dips. Oneday we will all be happy and no longer on this board because we all sold at a high price and bought gold.

[Zoolou1]

And let's not forget GRN first quarter results on May 12.

[Motownwing]

I do worry a bit about the Q1 results on May 12. Heavy selling just before results NR is rarely a good sign. Bad news are often leaked. It should not happen but it just does (we all have seen it many times). Management is under a lot of pressure. Institutional investors that participated in the 20 M$ January bought deal at 2.17$ must be pretty pissed right now. Let's see what happens... &

[Exergy]

I hear you Motownwing, but why would the CFO buy 10 000 shares @ $2.17 in January? who would know the numbers better than her? and a board member bought 15 000 shares 

[Speciallygood]

Could it be they excersised their warrants and got 2.50 earlier so these would almost be free

[Renofund]

many reasons why they may be buying.  At many companjes, C-level execs and board members must maintain a certain dollar value in company stock, so it could be a top-up to stay on board with companies governace.  This is typcially laid out in annual reports.  Also, (and this is probably the case) they feel the name is significantly undervalued and they are buying 

[Motownwing]

Chairman Nesmith selling 1.2 M shares @ 1.93 at the end of March was a red flag IMO. I still like this company very much but it might take a bit of time for the SP to get back > 2.00$. JIMO 

[Airbud]

On the surface, a chairman (or any insider for that matter) selling that large a number of shares is certainly a red flag...but maybe this was just part of a pre scheduled selling plan. The only way to know for sure is to ask Mr. Nesmith directly.  Here's what helps me sleep at night...I've listened/watched the CEO Brad deliver multiple investor presentations over the past couple

[Exergy]

Thanks Renofund. As for Nesmith selling the shares he got from exercising the warrants, it bothered me at first but then i thought maybe he just has his own personal reason (others didn't follow suit)

[Lou793]

Great insight.  Add before the 3rd.