MassRoots founder, Isaac Dietrich, has found a way to regain control of the company he founded. In an 8k filing with the Securities and Exchange Commission, it was confirmed that CEO Scott Kveton has resigned. The filing also confirmed that all other board members are no longer with the company.
Tag Archives: SEC
VERNON, British Columbia, Nov. 30, 2017 /Weed Wire/ — True Leaf Medicine International Ltd. (“True Leaf” or the “Company”) (CSE: MJ) (FSE: TLA) (OTCQB: TRLFF), announced today that it has received a notice of qualification from the Securities and Exchange Commission (“SEC”) of its Regulation A+ Tier 2 Offering Statement under Title IV of the JOBS Act to raise up to $10 million CAD in an offering that launches today.
DENVER, July 24, 2017 /Weed Wire/ — MassRoots, Inc. (OTCQB:MSRT), one of the leading technology and compliance platforms for the cannabis industry, is pleased to announce it has closed a $1,217,000 private placement of common stock and warrants, as detailed in MassRoots’ Current Report on Form 8-K filed on July 24, 2017 with the U.S. Securities and Exchange Commission.
On June 15, 2017, the United States Securities and Exchange Commission called hemp oil fraud on a public company, filing a complaint in federal court that claims CV Sciences (OTCQB:CVSI) , formerly known as CannaVEST, and its CEO, Michael Mona, Jr., intentionally overstated the company’s total assets.
WASHINGTON, June 16, 2017 /Weed Wire/ — The Securities and Exchange Commission filed fraud charges against a Las Vegas-based hemp oil company and its CEO for inflating the company’s assets on its balance sheet.
On June 12, 2017, the MedMen Opportunity Fund, a California-based private equity fund focused on the legal marijuana industry, filed Form D with the United States Securities and Exchange Commission, indicating that it had raised approximately $60 million of its $100 million offering.
DENVER, May 24, 2017 /Weed Wire/ —MassRoots, Inc. (OTCQB: MSRT), a leading technology platform for the medical cannabis industry, is pleased to announce the Company has filed its quarterly report with the Securities and Exchange Commission (SEC) for the quarter ending March 31, 2017.
On May 19, 2017, the U.S. Securities and Exchange Commission announced the temporary suspension of two marijuana stocks that trade on the OTC Markets, with both orders of suspension related to the companies neglecting to provide accurate and up-to-date information.
The cannabis industry’s excitement is building as the California takes steps towards establishing its legal recreational market. This week Los Angeles voters approved Measure M to create regulations for adult-use marijuana, thus setting up the city to steal the title of marijuana capital from Denver.
WASHINGTON, March 9, 2017 /Weed Wire/ — The Securities and Exchange Commission today charged a California-based company and its founder with falsely touting “record” revenue numbers to investors and claiming to be a leader in the marijuana industry while some of its earnings came from sham transactions with a secret affiliate.
A federal court in Boston last week entered judgments against a publicly traded company purportedly serving medical marijuana businesses over allegations that it defrauded investors by lying about the company’s true owner.
For investors, the rising prospects of legalized pot may be too good to pass up, yet the publicly traded cannabis companies may not be such a smart bet.
On Sept. 26, 2016, Massroots (OTCQB:MSRT) issued a letter from Isaac Dietrich, Chairman and Chief Executive Officer, on the company’s outlook for Fall 2016, including updates on the product pipeline, user growth and expense reductions, among others; however, the letter failed to address the company’s recent default on debt.
WASHINGTON, Sept. 16, 2016 /Weed Wire/ — The Securities and Exchange Commission today announced fraud charges in a scheme involving illegal stock sales and false financial filings of a company that makes containers for growing marijuana.
FT. LAUDERDALE, Fla., Aug. 23, 2016 /Weed Wire/ — Kaya Holdings, Inc. (OTCQB:KAYS), announced that it has disclosed Q2 results of operations by filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2016.
DALLAS, Aug. 16, 2016 /Weed Wire/ — Rocky Mountain High Brands, Inc. (OTC PINK:RMHB) announced today that the Company filed an Amended Form 10 on Monday, August 15, 2016 to respond to the SEC’s most current Comment Letter which contained only three comments.
DALLAS, June 27, 2016 /Weed Wire/ — Rocky Mountain High Brands, Inc. (OTC PINK:RMHB) announced today that the Company refiled its Form 10 on June 22, 2016 addressing the comments from the SEC’s last Comment Letter.
Federal securities regulators have filed a complaint against Bruce Perlowin that charges the CEO of publicly-traded Hemp Inc of committing a long-running fraud by evading securities registration provisions and selling hundreds of millions of unregistered shares.
Crowdfunding seemed like the perfect solution for cannabis entrepreneur Ralf-Rainer von Albedyhll, CEO of NextRX Inc., based in Las Vegas, Nevada. He had tried the more traditional funding avenues with little success.
DENVER, May 18, 2016 /Weed Wire/ —Blue Line Protection Group, Inc. (OTCQB: BLPG) (“Blue Line” and the “Company”), a leading security, transportation and risk mitigation solutions provider for financial institutions servicing the legal cannabis industry, today announced that it has secured $500,000 in investment capital from Hypur Ventures, L.P. (“Hypur Ventures”), with an additional $500,000 that may be invested at the discretion of Hypur Ventures.
LOS ANGELES, May 12, 2016 /Weed Wire/ — P. Vincent Mehdizadeh, Co-Founder of PINEAPPLE EXPRESS, INC. (OTC Pink:PNPL) (the “Company”), commented on the SEC’s temporary suspension of PNPL trading from April 28, 2016 through May 11, 2016. The Company’s stock is eligible to resume trading May 12, 2016.
On April 28, 2016, the U.S. Securities and Exchange Commission announced the temporary suspension of trading in Pineapple Express (OTC: PNPL) due to unusual market activity in the company’s securities. The suspension started at 9:30 a.m. EDT today and will end at 11:59 p.m. EDT on May 11.
ENVER, April 8, 2016 /Weed Wire/ — AmeriCann, Inc. (OTCQX: ACAN), a company that designs and develops advanced medical cannabis facilities, has released final plans for its Massachusetts Medical Cannabis Center (MMCC) development in Freetown, Massachusetts.
MIAMI, Fla., April 6, 2016 /Weed Wire/ — Pot Estate Holdings Inc. (PEHI) announced today that it has launched online a “Testing the Waters” campaign at http://potestate.com/regaplus to gauge potential investor interest in the going public transaction.
LOS ANGELES, April 5, 2016 /Weed Wire/ — Med-X, Inc.’s crowdfunding initiative is full steam ahead as the final rules for Regulation A+ takes effect in a matter of weeks, the company proudly announced on Monday.
SAN DIEGO, March 26, 2016 /Weed Wire/ — Mentor Capital, Inc. (OTCQB: MNTR) announced that it has filed its annual 10-K filing for the year ended December 31, 2015 with the SEC.
Investing in startup cannabis companies is about to get easier for the little guy. And for the little company.
On Feb. 25, 2016, the SEC’s Advisory Committee on Small and Emerging Companies met to discuss the ongoing evolution of this new capital landscape. According to the opening remarks of Mary Jo White, SEC Chair, “Since Regulation A+ became effective in June 2015, issuers have publicly filed over sixty offering statements with the Commission.”
Chris Bunka, the CEO and Chair at Lexaria Corp. (CSE: LXX) (OTCQB: LXRP), suspects that market-makers and broker-dealers are engaged in something potentially illegal and certainly untoward in connection with the stock of the company.
At the California Cannabis Business Expo in San Francisco this March, you can experience the legal cannabis industry’s first pitch event to focus on the hottest and fastest growing companies in cannabis as they begin their journey towards the ultimate prize.
While financing a regular startup is challenging, financing a cannabis-related startup is even more difficult. Regulation A+ could be a game changer for the legal cannabis industry by letting everyday cannabis consumers financially support the companies they love.
NEW YORK, Jan. 28, 2016 /Weed Wire/ — Viridian Capital Advisors has published its 2015 Cannabis Industry Report and Stock Index, labeled by Barron’s as the benchmark index for the Cannabis industry.
On Jan. 20, 2016, Vireo Health, a medical marijuana holding company, filed Form D with the Securities and Exchange Commission, notifying the SEC of its exempt offering and sale of securities valued at $31.5 million under Rule 506(c).
Interested in taking part of Oregon’s upcoming recreational marijuana market? While the entry barriers for dispensaries in Oregon aren’t as high they are in other states, it still takes a sizable investment to enter the business. And to get funding, companies must be prepared.
On Nov. 12, 2015, the Colorado Division of Securities issued an investor alert titled, “Are you an Informed Investor? The Next Big Thing.” The alert addressed the popularity of investments in marijuana, binary options and digital currencies.
Randy Shipley, the founder and CEO of CannaFundr.com, is among those who believe that the new SEC rules will “potentially” have a positive influence on the marijuana industry.
DENVER, Nov. 5, 2015 /Weed Wire/ — MassRoots (OTCQB: MSRT) will post its financial results for the third quarter ending September 30, 2015, after market close on Monday, November 16, 2015.
HOUSTON, Aug. 7, 2015 /PRNewswire/ — Indoor Harvest Corp (OTCQB:INQD), through its brand name Indoor Harvest™, is a design build contractor, developer, marketer and direct-seller of commercial grade aeroponic and hydroponic fixtures and supporting systems for use in urban Controlled Environment Agriculture and Building Integrated Agriculture.
Cannabis is in a unique situation of potential exponential growth both from the financial standpoint and the research and development standpoint, but has to trade in a market place with a dubious reputation.
On July 9, 2015, the Securities and Exchange Commission announced that it had settled charges against Alexander Hawatmeh and Christopher Mrowca. So far, so good, but is the legal marijuana industry any safer for investors?
DENVER, July 10, 2015 /PRNewswire/ — MassRoots (OTCQB: MSRT), one of the largest and most active social networks for cannabis consumers with 420,000 users, is pleased to report it recently pitched Kevin O’Leary on CNBC’s Elevator Pitch. The segment was released yesterday and can be viewed online here.
Oxis Biotech, a subsidiary of Oxis International (OTCQB: OXIS), recently filed a notification to shareholders and the SEC that the company would be entering into a reverse split of not less than 1-50 shares and not more than 1-250 shares.
Ever since the SEC cracked down on marijuana-related investments in 2014, potential investors have been painfully aware of the need to conduct adequate due diligence on the early-stage companies that come courting.
Public stock investors in the cannabis industry are largely relegated to the over-the-counter marketplace. This is much different from stocks trading on an exchange, and far less expensive for companies to access.
Today we’ll be looking under the hood of two more companies, but before we do it’s worth spending a moment to take note of how the cannabis industry could be massively reframed as a result of recent news out of Washington, D.C.
Electrum Partners’ Leslie Bocskor along with his partner Gordon Katz have filed paperwork with the SEC to launch a cannabis-related hedge fund. Placement agents are aiming to raise $25 million.
There are many early-stage companies with an eye on cannabis that are entering the publicly-traded space these days. We wanted to give you a brief overview of some of the companies that are likely to offer public securities for the first time in 2015.
It has been a noteworthy past few days in the realm of investors’ rights. Two different stories that may seem completely unrelated are sewn with some of the same thread, especially for investors that are actively looking at the cannabis space.
Phylos Bioscience, which is mapping the cannabis genome, has raised $250,000 in equity, according to a filing with the U.S. Securities and Exchange Commission.
Cannabis stocks started the day under selling pressure. However, the negative pressure eased a bit as broader markets lifted higher.