Anonymous
Anonymous asked in Business & FinanceInvesting · 8 years ago

Why is Cannavest Corp (CANV) not trading right now ?

Are they under investigation ? Can I still dump the stock ?

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  • 8 years ago
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    It would not surprise me....somehow this company suckered people into paying upwards of $20/share for a company that has moved from Texas to San Deigo and now to Las Vegas.

    They were supposed tyo be a real estate company but failed at that....they have a financial report which is interesting to read

    http://www.otcmarkets.com/edgar/GetFilingPdf?Filin...

    it is 4 months old but I love this quote I took from the beginning

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    We were incorporated with the intention to commence operations in the business of selling realtor services to prospective homebuyers interested in foreclosed residential properties. We were not able to secure financing for this business plan and have consequently experienced a change of control and a change of business focus. On November 16, 2012, Mai Dun Limited, LLC, Mercia H

    oldings, LLC, General Hemp, LLC and Bamburgh Holdings, LLC (the “Buyers”), acquired a total of 6,979,900 shares of our common stock in a series of private transactions. Upon consummation of the transactions , the Buyers collectively acquired 99.7% of our total issued and outstanding shares of common stock.

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    Here is what the make their current money on....selling WEED...hopefully the medicinal kind

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    To date, we have had no revenues and our sole assets consist of cash, accounts receivable, the assets purchased on January 29, 2013 from PhytoSPHERE Systems, LLC, and the capital stock in KannaLife Sciences, Inc. purchased by the Company on March 4, 2013 and April 4, 2013, each as more fully set forth herein. We have incurred losses since inception. To date, our operations have consisted of selling $1,275,000 of raw Cannabidoil product to third parties, such raw product obtained by us through inventory acquired from PhytoSPHERE Systems, LLC and contracts with

    various suppliers in Europe.

    *********************************

    How they went to $20/share is beyond me.....DOES NO ONE do DUE DILLIGENCE anymore???

    http://www.hotstocked.com/article/52282/medical-ma...

    here is a newsy bit about CANV and another (more resonably priced Medical Weed company.

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    The letter presents two scenarios - CANV executing the remainder of the payment in cash or in stock once again. CANV's 10-K that arrived in mid-April showed that the company was still cashless, so it appears cash payments are out of the question. The stock payment scenario would lead to MJNA becoming the majority shareholder in CANV. The letter stipulates that this would lead to ‘cost savings in production' for MJNA and to an ‘increase in value it may get from the continued growth of the brand'.

    Considering CANV is currently an OTC company whose shares cost $20 apiece that has $431 in cash and never generated revenues in the past and had 5 employees as of mid-April, those statements may be a bit of an exaggeration.

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    $431 in the bank, 5 employees and shares costing $20 each.....HAHAHAHAHAHA (sorry but this is funny to me)

    Sorry but this is a ridiculous stock when you look at these details.

    This is a not a very liquid stock. When I look at the chart, other than the time it was pumped (which is probably when you got in...the share volume is ragged at a couple of hundred shares a day

    http://www.otcmarkets.com/stock/CANV/chart

    It seems the Bid/Ask for this stock is $13.5/$25 respectively...Hopefully what you bought it for lies in between this....but if you bought it for $30 in March....God help you as far as getting your money back IMHO

    Put in a limit Asking bid (don't try a market bid...even if you could, God knows what price you would get) as close to the Bid as you feel you can accept and hope some fish will eat it.

    It may take a while...but take it as a life lesson to do some Due Dilligence and check out a stock before buying it.....

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