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Thread: what is your opinion on marijuana stocks?

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  1. #101  
    RX Senior brucefan's Avatar
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    Solis Tek Receives Long Term Financial Commitment and Converts Debentures and Series A Preferred





    GlobeNewswire•April 30, 2018 Provides Access to Capital to Explore New Opportunities to Accelerate Growth in CannabisCARSON, CA, April 30, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc. (OTCQB: SLTK), a vertically integrated cannabis technology innovator, manufacturer and distributor, is pleased to receive financial and commitment from existing shareholder, YA II PN, Ltd., managed by Yorkville Advisors Global, LP.
    On April 16, 2018, SLTK and YA II PN entered into a $25 million Standby Equity Distribution Agreement (SEDA), pursuant to whichYA II PNhas committed to provide up to $25 million of equity capital over the next three years, if and when drawn by SLTK at SLTK’s discretion. SLTK will be able to access the SEDA in increments of up to $1.0 million each after SLTK registers the resale of the common shares to be issued with the U.S. Securities & Exchange Commission. SLTK can draw on YA II PN's commitment from time-to-time, and SLTK can terminate the agreement at any time without the payment of any additional fees.
    On April 18, 2018, YA II PN elected to convert all remaining outstanding principal and interest accrued and otherwise payable under its outstanding Secured Debenture, which included in total the conversion of $1,500,000 of principal and $4,041 of interest. Upon the Conversion of the Debenture, SLTK issued an aggregate of 1,504,041 shares of its Common Stock to YA II PN.
    On April 24, 2018 the Company received a Notice of Conversion from the Holder of all outstanding Series A Convertible Preferred Stock (the “Series A”) in which the Holder converted all remaining Series A to common shares in the Company leaving no remaining Series A outstanding.Upon the conversion the Series A, the Company issued 52,500 shares of common stock. There are no Series A outstanding.
    Solis Tek Chief Executive Officer, Alan Lien, commented, “We are gratified that Yorkville Advisors Global has shown continuing trust in SLTK in sharing a vision for the tremendous growth opportunities in the cannabis industry. We look forward to working together and creating value for our shareholders.”
    About Solis Tek, Inc.
    Solis Tek, Inc. (OTCQB: SLTK) is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad.
    For more information, please visit our website, www.solis-tek.com.






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  2. #102  
    gotta hunch bet a bunch if hunch is wrong bunch is gone CHUGG's Avatar
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    Im having a profitable blast buying low and selling high with this stock. Making a few grand per sell. Does anyone know of any other stocks that swing like this one from top to bottom between the 1.00 - 1.50 price range? I would like to look for a few more to diversify .
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  3. #103  
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    i don't think it's a good business
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  4. #104  
    gotta hunch bet a bunch if hunch is wrong bunch is gone CHUGG's Avatar
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    Quote Originally Posted by oliver47 View Post
    i don't think it's a good business
    what isnt a good business? Marijuana or buying low and selling high?
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  5. #105  
    gotta hunch bet a bunch if hunch is wrong bunch is gone CHUGG's Avatar
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    Why is this stock staying down so long with all of the good news released on it lately? Strange.
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  6. #106  
    RX Senior brucefan's Avatar
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    Solis Tek Closes Acquisition for Cannabis Cultivation and Processing Facility in Arizona





    GlobeNewswireMay 11, 2018






    Transitioning to High Growth Opportunities in Legalized Cannabis Jurisdictions
    Future Farm Technologies Becomes a 10% Partner
    CARSON, CA, May 11, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc. (SLTK), a vertically integrated cannabis technology innovator, manufacturer and distributor, today announced the closing of its previously disclosed acquisition of YLK Partners NV, LLC, an Arizona-based company which has in place a management services agreement to provide turn-key services for the management, administration and operation of a licensed medical marijuana cultivation and processing facility being developed by the holder of a Medical Marijuana Dispensary Registration Certificate issued by the Arizona Department of Health Services (“Arizona Licensee”). April 26, 2018.html

    Solis Tek, through a wholly-owned subsidiary, has also executed an Option Agreement for the right to enter into a long-term lease agreement with MSCP, LLC, for an expansive facility comprised of more than 70,000 square feet located in Phoenix, Arizona. The plan is to develop the facility into one of the most technologically advanced cultivation and processing facilities in the State of Arizona for use by Arizona Licensee. Solis Tek paid MSCP, LLC $160,000 for the option, which remains exercisable until May 19, 2018.
    Solis Tek has issued 5 million warrants exercisable at $0.01 per share as consideration for the acquisition of all of the ownership interests in YLK Partners NV from the current owners.
    Future Farm Technologies (FFT.CN) has agreed to invest $500,000 for a 10% interest in the Arizona Operation.
    YA II PN, Ltd. is providing the working capital for YLK Partners. Its investment of $2,495,000 is comprised of a $1,500,000 Promissory Note for 9 months, a $495,000 cash exercise of 450,000 Solis Tek warrants and a $500,000 purchase of Solis Tek common shares at $1.00 per share.
    Solis Tek Chief Executive Officer, Alan Lien, commented, “We are really excited about this opportunity in Arizona and its growth and profitability potential. We are very pleased to have partners such as Future Farm Technologies and Yorkville Advisors to collaborate and support the build-out and growth of this facility. Our collective experience and knowledge in cannabis will position this Arizona operation for success. We are excited to commence Phase 1 of the development and construction of our state-of-the-art cultivation and processing facility and look forward to many additional opportunities in the cannabis industry.”
    About Solis Tek, Inc.
    Solis Tek, Inc. (OTCQB: SLTK) is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information, please visit our website, www.solis-tek.com.
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  7. #107  
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    Solis Tek Provides Update on Transition of Business and Announces First Quarter 2018 Results





    GlobeNewswire•May 15, 2018 CARSON, Calif., May 15, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc. (SLTK), a vertically integrated cannabis technology innovator, manufacturer and distributor, is pleased to provide an update on its business transition, including expected targets and milestones for its recently acquired cannabis cultivation and processing facility in Arizona, and its first quarter 2018 operating results.Over the next few weeks, the Board and management plan on rebranding the corporate entity and public company name to better reflect management’s strategy to transition to high growth opportunities in legalized cannabis jurisdictions, including cultivation and processing. The Company will continue to aggressively develop and innovate its lighting division as Solis Tek Digital Lighting and its nutrients division as Zelda Horticulture.
    In regard to the recently acquired cannabis cultivation and processing facility in Arizona, the Company has planned for 50,000 square feet of cultivation and 10,000 square feet of processing, which will be funded by the recently raised $2.5 million and future commitments from its previously disclosed financial partner. Management is targeting for processing to begin by November 2018 potentially generating up to $500,000 in processing revenue per month and targeting ramping up to $1 million per month over time. Management also expects to begin the cultivation build out imminently with its sights on a first crop in January 2019, and a capacity of producing 8,000 pounds per year, which would equate to $10 million at current wholesale prices.
    Solis Tek Chief Executive Officer, Alan Lien, commented, “We are very excited with the transformation of our business strategy and the incredible growth opportunities our team has identified in the legalized cannabis industry. We look forward to a multi-prong approach in growing our business and creating long-term shareholder value through varying segments of the legalized cannabis industry in the United States and potentially in Canada and overseas. We remain confident in our Solis Tek lighting and newly introduced Zelda Horticulture nutrients, but feel this is the right time and opportunity to expand to the touching the plant segment, which will lead to higher and more predictable revenue growth and profitability. Additional details of our plans will be announced over the next few weeks and we look forward to communicating with our current shareholders and prospective new shareholders.”
    Financial Results for the First Quarter Ended March 31, 2018:
    Revenue for the three months ended March 31, 2018 and 2017 was $1,011,749 and $2,901,826, respectively, a decrease of $1,890,077 or 65%. The decrease was due to several negative factors during the first quarter of 2018, as compared to the first quarter of 2017.

    Such factors included, market instability and uncertainty, reports of over-capacity and price declines at the wholesale level. U.S. Attorney General Jeff Sessions messaging, the Administration’s stance and announcements on marijuana enforcement, particularly the rescinding of the Cole Memorandum and giving the Federal US Attorneys “free-reign” as to enforcement priorities set a very negative tone and caused hesitation from buyers in the cannabis industry. Industry-wide build-outs slowed and were pushed-out.
    Specific reasons to beset to Solis Tek, included a change at the Chief Executive Officer level and change of message and direction. Solis Tek had previously been a retail driven company servicing our 500+ hydro-stores targeting the home and hobbyist growers. Solis Tek restructured its sales force to five nationwide commercial cultivation account managers and had to re-program the sales team, change pricing and change marketing strategies. Its recent shift to convert to a commercial mindset, also altered its inventory strategy to longer fulfillment and lead times.
    Cost of sales for the three months ended March 31, 2018 and 2017, was $533,925 and $1,781,304, respectively. Gross profit for the three months ended March 31, 2018 and 2017, was $477,824 and $1,120,522, respectively. The decrease in gross profit of $642,698, or 57% was primarily due to our decrease in revenue. As a percentage of revenue, gross profit for the three months ended March 31, 2018 was 47% compared to 39% for the three months ended March 31, 2017. The increase in gross profit percentage was due to the change in product mix sold.

    Selling, general and administrative expenses for the three months ended March 31, 2018 and 2017 was $3,448,271 and $4,764,655, respectively, a decrease of $1,316,384 or 28%. For the three months ended March 31, 2018, stock-based compensation expense decrease $1,857,866 to $1,780,288, compared to $3,638,154 for the prior year period. Excluding stock-based compensation expense, our SG&A increased $541,482 due to the recording of a $449,000 severance obligation to our former Chief Executive Officer, and $92,482 in increased operating expenses to support our operations.

    Research and development (“R&D”) expenses for the three months ended March 31, 2018 and 2017 was $51,878 and $82,770, respectively, a decrease of $30,892 or 37%. The decrease in R&D expenses was primarily due to decreased employee compensation and royalty expense.


    Other income for the three months ended March 31, 2018 was $2,651,620 as compared to other expense of $24,171 for the three months ended March 31, 2017. The increase in other income was due to the recording of a gain on the extinguishment of derivatives of $674,254, a gain on the change in fair value of derivative liability of $2,630,052, and financing costs of $607,717, all of which did not exist during the prior year period. Interest expense increased over the prior year period by $20,798 due to our increase in borrowings.

    Net loss for the three months ended March 31, 2018 was $370,705 compared to net loss of $3,751,987 for the three months ended March 31, 2017. The decrease in net loss was due to the increase in other income and expenses, decreased operating expenses, offset by decreased revenues and gross profit as discussed above.
    About Solis Tek, Inc.
    Solis Tek, Inc. (OTCQB:SLTK) is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information, please visit our website, www.solis-tek.com.













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