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Rob Ford's Toronto

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thedeepend said:
Giant investor in medical marijuana invested heavily in Greenestone January 2014. Lives in Chicago.













http://www.sec.gov/Archives/edgar/data/792935/000143359114000001/0001433591-14-000001.txt
http://online.wsj.com/article/PR-CO-20140320-906205.html
http://www.yellowpagesgoesgreen.org/whitepages/details/il/IRWIN_L_ZALCBERG/9033364
Click to expand...

This is just someone fiddling around with some of their "milk money" - taking a flier on a penny stock (GreeneStone) that trades (if ever) OTC.*



*Over the counter - i.e., it is not listed on a stock exchange.
 
pud99 said:
This is just someone fiddling around with some of their "milk money" - taking a flier on a penny stock (GreeneStone) that trades (if ever) OTC.*

*Over the counter - i.e., it is not listed on a stock exchange.
Click to expand...

He's also a small cap investor betting on a medical marijuana boom. Which may account for his interest in Greenestone.
It seems to have unique approach to rehab, in that the doctor with the most entrepreneurial approach to medical marijuana in Ontario, Dr. Danial Schecter works for them as a consultant. (He's based out of Georgian Bay).
Rob could be smoking a lot of very strong dope under doctor's orders....

http://www.nowtoronto.com/news/story.cfm?content=197598
http://medicalmarijuana.medijean.com/debate/doctors/debaters-bio/
 
evvabeing said:
did we already know this?



http://globenewswire.com/news-relea...r-of-Intent-With-CEO-to-Acquire-Property.html
Click to expand...

For anyone interested the latest annual report is at

http://www.sec.gov/Archives/edgar/data/792935/000072174814000303/f10k_grst123113.htm

Not too healthy from what I read anyway. Substantial questions about the ability to continue as a going concern if the merger doesn't go through. Plus the vast majority of their working capital deficit ($1.7M+) is withholding tax owed. Not a good sign.

The Bala property sale looks like a conditional sale/leaseback arrangement if the merger goes through to secure the site instead of having it on a perpetual lease.
 
thedeepend said:
He's also a small cap investor betting on a medical marijuana boom. Which may account for his interest in Greenestone.
It seems to have unique approach to rehab, in that the doctor with the most entrepreneurial approach to medical marijuana in Ontario, Dr. Danial Schecter works for them as a consultant. (He's based out of Georgian Bay).
Rob could be smoking a lot of very strong dope under doctor's orders....

http://www.nowtoronto.com/news/story.cfm?content=197598
http://medicalmarijuana.medijean.com/debate/doctors/debaters-bio/
Click to expand...

Yes, that was my point. Look at the pricing: US$85,000 total for 1 million common shares and 1 million warrants to buy common shares. Regardless of the exercise price of the warrants (which. logically, must be peanuts, given the acquisition price) that is less per share than buying a gum ball. So if it hits it would be the equivalent of winning LotoMax, and if it does not hit then the sunk cost (like the price of a LotoMax ticket relative to the upside possibility) is trivial.
 
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thedeepend said:
Actually Greenstone had a truly epic collapse in valuation at the end of 2012.

On Oct 12 2012 the stock is worth $1.81. On Dec 27 it was worth $0.05. And it hasn't moved since then.
Whoever was invested in this lost all of their money, as a $10,000 investment in October was worth about $30.00 at the end of the year.



Click to expand...


I haven't read through all the filings for that period but it looks like they diluted the s*** out of the stock through a bunch of convertible debt and other issuances.
 
pud99 said:
Yes, that was my point. Look at the pricing: US$85,000 total for 1 million common shares and 1 million warrants to buy common shares. Regardless of the exercise price of the warrants (which. logically, must be peanuts, given the acquisition price) that is less per share than buying a gum ball. So if it hits it would be the equivalent of winning LotoMax, and if it does not hit then the sunk cost (like the price of a LotoMax ticket relative to the upside possibility) is trivial.
Click to expand...

yes, if it goes back up to where it was 18 months ago, 85,000 becomes several million dollars.
 
zang said:
I know you're joking, but it's not that likely anyhow. Remember, Greenestone was a last minute switch;mif unless they also happen to have another spa in the Chicago area.
Click to expand...

That is if the Chicago thing was not just a run around, or "fake out", just like how the FoBo like to do to show superiority.
 
drk said:
For anyone interested the latest annual report is at

http://www.sec.gov/Archives/edgar/data/792935/000072174814000303/f10k_grst123113.htm

Not too healthy from what I read anyway. Substantial questions about the ability to continue as a going concern if the merger doesn't go through. Plus the vast majority of their working capital deficit ($1.7M+) is withholding tax owed. Not a good sign.

The Bala property sale looks like a conditional sale/leaseback arrangement if the merger goes through to secure the site instead of having it on a perpetual lease.
Click to expand...

1. You would not want to work for a company that is far behind in remitting withholdings, given that most withholdings are for employee income tax, CPP and EI. (The other major cause of withholding liability is tax payments on dividends paid to foreign shareholders - but dividends ought not be a major item for a company that is as relatively unprofitable as GreeneStone Health Corporation.)

2. The point of the proposed merger appears to be to have land owned by Leon (i.e., by a holding company controlled by him) purchased by GreeneStone Health Corporation, of which he appears to beneficially own about 45% (i.e., he would 'cash out' on a 100% basis by having the property sold to a company of which he beneficially owns about 45%).
 
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thedeepend said:
yes, if it goes back up to where it was 18 months ago, 85,000 becomes several million dollars.
Click to expand...

Yep. And the odds of that are about the same as LotoMax.

ETA: This goes on all of the time. There is nothing at all unusual - never rmind "Fordian" - about it.
 
drk said:
I haven't read through all the filings for that period but it looks like they diluted the s*** out of the stock through a bunch of convertible debt and other issuances.
Click to expand...

Well, they diluted an almost penny (<$2) stock to a low penny (l<$0.10) stock. But GreeneStone seems to be only one piece of what Leon beneficially owns, so that is not the end of the world.

ETA: This goes on all of the time. There is nothing at all unusual - never rmind "Fordian" - about it.
 
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evvabeing said:
did we already know this?
Click to expand...
Not reading my posts. Gotcha.

cartman.jpg


Wait, no, I mean thank you very much, pud99.
 

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