One tiny company stands to be the biggest beneficiary because lithium "faces a long-term supply shortage," according to Barron's. Supplying the electric vehicle boom and potentially driving its stock price off the charts. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. Bright Green states in its prospectus, "In May 2021, we entered into the MOA with the DEA, which outlines the terms of the DEA's conditional approval of Bright Green to proceed through the DEA's registration process, as described above. Bright Green to Commence Trading on Nasdaq on May 17, 2022, Cannabis Watch: Cannabis company that DEA is allowing to grow for research purposes to list shares on Nasdaq, Bright Green Corp. files plans to directly list shares on the Nasdaq as a DEA-licensed pot grower, Bright Green Announces Filing of Registration Statement for Proposed Direct Listing of its Class A Common Stock. He expressed his fear that his reputation would be at risk for knowingly telling investors that Bright Green had a valuation that was incorrect. He was also to get 2.5 million shares. The facility in Grants, New Mexico is supposed to be A two-acre Fast Start University Greenhouse to begin housing our cannabis research, development, cultivation, and manufacturing operations. Bright Green also stated in its filing that its existing 22-acre Venlo greenhouse is currently under renovation to be operational in May 2022 and provide the initial supply of marijuana and marijuana extracts. The enterprise produces its cannabis crop through a system of tissue culture propagation. There are currently several companies that have been approved by the DEA to sell cannabis to the Federal Government for research purposes, so the concept cannabis company actually does have existing companies for comparison in order to determine a true valuation. Not sure I can buy the story about continuing to work even though he wasnt paid. It stands the best chance of making the emergence of the cannabis industry into the public market a successful venture, but only time will tell. Bright Green reaches several key milestones, advancing progress against its strategic plan. Even though he said he had other offers on the table, the Stockwells said they could pay more. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders equity The total Debt to Equity ratio for BGXX is recording 0.00 at the time of this writing. The Bright Green Corporation invested $300 million in its new complex in 2021. The processes occur within a controlled environment with careful attention to the fine details that could affect the cloning and propagation processes. GRANTS, N.M., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Bright Green Corporation (NASDAQ: BGXX) (Bright Green or the Company), one of the very few companies selected by the U.S. government to grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export, today provided an update on progress on the execution of its business plan and the developments ahead for 2023. state that in the NASDAQ Capital Market guidelines, The listing company must have a recent valuation from an independent third party indicating in excess of $10 million to $30 million in the aggregate market value of publicly held shares, depending on the financial standard met. He also supposedly received another 2.5 million shares. It is essential for our combined cannabinoid product development programs as well as for delivering potentially game changing practices to benefit the patients who will receive our medicines. The combined group has the resources, technology and state and federal approvals to now achieve revenue unpresented in this emerging market. In the absence of a prior active public trading market for our common stock, if the price of our common stock or our market capitalization falls below those required by Nasdaqs eligibility standards, we may not be able to satisfy the ongoing listing criteria and may be required to delist. So, the company discloses right up front that it may not be able to even stay listed on NASDAQ. If you want to participate in Bright Greens growth, youll need to know how to buy stocks. Your email address will not be published. Bright Green Corporation is a vertically integrated cannabis company and multi-state operator in the US and internationally. GRANTS, N.M., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation (Nasdaq: BGXX) ("Bright Green" or "the Company . The Bright Green Corporation runs a tight ship, 7. The team of six brings their years of expertise in their respective industries to the round table to develop the strategic planning for the Bright Green Corporation, and to lead it forward to fulfill its mission and vision. Presently, Bright Green Corporation shares are logging -99.22% during the 52-week period from high price, and 29.66% higher than the lowest price point for the same timeframe. Additionally, it is the fourth biggest IT, Read More 20 Things You Didnt Know About FoxconnContinue. Words such as expect, anticipate, should, believe, hope, target, project, goals, estimate, potential, predict, may, will, might, could, intend, shall and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Through strict oversight, BrightGreen helps to enhance the consistency of harvest and purity of the product. According to the, No additional shares are offered to the public, which reduces scrutiny. Stockwell is a Canadian citizen and his next-door neighbor in Canada was Jerry Capussi who is suing for shares of Bright Green. Bright Green Corporation is a Fort Lauderdale, Florida-based operation, 2. USD, Bright Green Provides Update on Progress as It Prepares for Multiple Activities in 2023, Bright Green Announces Third Quarter 2022 Financial Update and Milestone Progress, Bright Green Strengthens its Scientific Advisory Board with the Appointment of Five Additional Biotech and Pharmaceutical Leaders, Bright Green Issues Statement on President Biden's Announced Historic Marijuana Reform, Bright Green Announces Close of Transaction with Alterola Biotech, Bright Green Provides Progress Updateon its Agricultural Complex in Grants, New Mexico, Bright Green Announces Closing of $10.0 Million Private Placement, Bright Green Announces Pricing of $10.0 Million Private Placement, Bright Green Signs Letter of Intent with Alterola Biotech for Strategic Partnership and Acquisition, Bright Green Announces Second Quarter 2022 Financial Update and Milestone Progress, Bright Green, Staffing 360 Solutions And 3 Stocks To Watch Heading Into Tuesday, 6 Stocks Halted In Thursday's Session: Here's Why. BRIGHT GREEN CANNABIS, INC. However, ample industry data provides important clues for prospective IPO participants. When the transactions were called off in the previous session, Stock hit the highs of $0.54, after setting-off with the price of $0.5281. Bright Green Corporation stocks (BGXX.US) are listed on the NASDAQ and all prices are listed in US Dollars. Bespoke Financial Sues In Da Cut For Not Paying Its Debt, Cannabis ETF Investors: Bad Timers, but Committed, Texas Poised to License More Low-THC Dispensaries, Bespoke Financial Sues 'In Da Cut' For Not Paying Its Debt, New BDS Analytics Report Forecasts CBD Sales To Reach $20 Billion By 2024, International Cannabis Reform Ramps Up in Europe, South America. Fikany also says in the lawsuit that his employment wasnt contingent on any specific measures of success. Not one single plant has been grown. Like many other aspirational IPOs, Bright Green is a pre-revenue firm, generating zero sales for 2021 and the prior year. The Company has also recently executed a Letter of Intent with Alterola Biotech Inc. (OTC PINK: ABTI), a U.K.-based pharmaceutical company focused on developing cannabinoid and cannabinoid-like medicines and products, for the supply of cannabinoid Botanical Raw Material (BRM) and Active Pharmaceutical Ingredients (APIs) in preparation for the release of appropriate product, which also further enhances the relationship between the Company and Alterola as previously announced. While Fikany was working to secure the deal with the Acoma Pueblo he was also working with Stockwell to prepare the company to go public. The Bright Green Corporation has a long way to go until it reaches profitability. Bright Green Corporation went public via a direct listing on the NASDAQ in May 2022. As a direct listing, pricing data for BGXX stock wont be available until the free market determines what it will be. The basic concept between an IPO and DPO is the same: enable retail (public) investors to acquire shares of a previously privately held enterprise. 1. Bright Green has an understanding with the Drug Enforcement Administration, 12. That is the equivalent of 115 acres of advanced manufacturing technology. Can I sue the company it took my 15K out of 30K investment, their fraud resulted in a heavy loss for me. After attorney fees were deducted, he was left with about $5.45 million in cash. Bright Green Former CEO Claims Valuation Fraud, The back story of the cannabis concept stock, In an IPO situation, founders, employees, and other early-stage investors are typically restricted from selling their stock right away. 1033 George Hanosh BoulevardGrants, NM 87020United States833 658 1799https://www.brightgreen.us. The Company anticipates that subsequent events and developments will cause its views to change. Looking at the track record of Sunnyland and then Bright Green, it will remain a stock to keep under the microscope. The Company anticipates that subsequent events and developments will cause its views to change. Bright Green Corp. offered 158.249 million shares in a direct listing - with a NASDAQ reference price of $8.00 per share - and the expectation that the stock will start trading on the NASDAQ on Tuesday, May 17, 2022. GRANTS, N.M., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation (NASDAQ: BGXX) ("Bright Green" or "the Company"), one of the very few companies selected by the U.S. government to grow, manufacture, and sell, legally under federal and state laws, cannabis and . 42 subscribers in the BGXXBrightGreen community. However, nothing is ever clear cut regarding the cannabis industry. Undeterred, Fikany continued to push back. The Bright Green stock prediction results are shown below and presented as a graph, table and text information. The system is highly energy efficient with a decentralized mechanical ventilation system that optimizes homogenous indoor climates, creating optimal cannabis growing conditions through automated growing systems that are finely calibrated for each stage of development for the plants. That boosted the share price in the early days further enriching the sellers. Bright Green acquired 25% of Alterola's issued and outstanding common stock. Left to right: Dean Valore, Ed Robinson, Terry Rafih, Lynn Stockwell, John Stockwell, Robert Arnone. Approximately 544 miles north of Las Vegas lies what's been dubbed "the biggest lithium deposit in the US." Unlike a traditional bread-and-butter IPO, BGXX stock will enter the market via a special category called a direct public offering (DPO) or better known as a direct listing. The company has also said that it will be able to harvest its first crop of cannabis in two months, however, any cannabis cultivator will say that it takes at least 3-8 months for a cannabis plant. Here's How It Did. Its still in the developmental stages of that part of its journey. He began working for the company on May 1, 2018, as CEO with a salary of $1 million and was to receive $500,000 on the first day of employment. How big do you think that market is? At the time of this writing, the total market value of the company is set at 76.68M. 4 min read. So he lists his wife as founder. DATES: Registered bulk manufacturers of the affected basic class(es), and applicants therefore, may submit electronic comments on or objections to the . Crain Communications Inc 2017 document.write(new Date().getFullYear());. Lets start up with the current stock price of Qurate Retail Inc. (QRTEA), which is $1.94 to be very precise. Typically in groundbreaking ceremonies, only top executives or board members take the stage. Az adatvdelmi irnyelvek kztt s a Cookie-szablyzatban bvebben olvashat arrl, hogyan hasznljuk fel az adatait. We have also been focused on the capital requirements to execute on the next phase of our facilities and the completion of our business plan. The worlds most advanced agricultural ecosystem with state-of-the-art automation, Bright Green Systems of Operation Delivers, Leading the way through plant-based therapies. Acquisition will support Bright Green's ability . Ultimately, Stockwell refused to send the escrow money to the Acoma Pueblo and that deal fell through. He is no longer listed as having a role in the company. The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. . 22. It is a highly productive growth strategy that results in mature clone plants created from tiny clippings. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management as of such date. But how it goes about the process is different. The public can only buy the shares that are sold by the insiders. Look it up. They issued millions of shares to themselves at one penny and have mostly cashed out already. As well, especially during these unusual circumstances, Wall Street can be volatile. To learn more, visit www.brightgreen.us. It implements the use of robotics including a device called the Visser Transplanter. LinkedIn confirms that he is an expert in consulting for the executive level of the wholesale and retail sector with a focus on operational proficiency. Year-over-year quarterly sales growth most recently was %. 26. In that particular session, Stock kicked-off at the price of $0.40 while reaching the peak value of $0.472 and lowest value recorded on the day was $0.385. 27. The Bright Green Corporation shares its vision for creating a healthier planet inhabited by healthy people. If you like to purchase items on credit, its one of the easiest companies to use. Bright Green Corporation employs experts in cultivation, 6. State-of-the-Art 22-Acre Greenhouse Slated . https://www.greenmarketreport.com/bright-green-former-ceo-claims-valuation-fraud/. Other financial media also jumped in and never looked beyond the companys press release and helped tout the idea of a cannabis company trading on the NASDAQ. It intends to offer cannabis products, including cannabis flower, pre-rolls, concentrates, vape pens, capsules, tinctures, edibles, topicals, and other cannabis-related products The company was incorporated in 2019 and is based in Grants . Meeting these goals will further enhance our capabilities throughout 2023 and 2024 as our capital needs are achieved. The minimum target price for Bright Green analysts is $ None. Bright Green Corporation provides federally-authorized researchers legal access to high-quality cannabis and associated products. John Stockwell supposedly has no official role in Bright Green, but he was featured in a photo (above) of a. in New Mexico in October 2021. This is also the second groundbreaking ceremony. Unfortunately, one of Stockwells employees inadvertently started a fire at the Estancia greenhouse. Bright Green (BGXX 1.94%) is a Florida-based cannabis business that the federal government has approved to grow cannabis for limited . It is a company that is dedicated to furthering research to improve the quality of human life. Robinson was the Chief Executive Officer of BMW Financial Services for the Americas Region from April 2005 to December 2016. Therefore, it could theoretically expand the reach of its solutions to a greater magnitude than its competitors. Cautionary Note Regarding Forward-Looking Statements:This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Kurt Riley, surrounded by members of Tribal Council and Acoma Business Enterprises, signing a business agreement with Bright Green Group on Dec. 16, 2017. However, his wife Lynn Stockwell is a Director of Bright Green and John Stockwell did file for bankruptcy in the state of New Mexico in 2015. 53-5-1 to 53-5-10 NMSA 1978; Business Classification Text FARMING Agent Name Registered Agents Inc Agent Address 530-B HARKLE ROAD, STE 100, Santa Fe, NM, 87505, USA Michelle Lujan Grisham and Bright Green Corp. announced Monday a $300 million investment in a state-of-the-art agricultural ecosystem on company-owned property in Grants, New Mexico, embracing the latest technology and automation . He was then terminated. The deal had been in the works prior to Fikany coming on board but hadnt actually closed. You can read further details here. However, from time to time, the market can act irrationally. However, Bright Greens DEA authorization should go a long way to assuaging those fears. Raw Stochastic average of Bright Green Corporation in the period of last 50 days is set at 34.72%. The pharmaceutical manufacturer focuses on the development of cannabis-based products for research into treatments and cures in the pharmaceutical industry. "This quarter, Bright Green reached . Bright Greens mission is to be the premier federally-authorized provider of cannabis, cannabis-related products, and other legal medicinal plant-based therapies, manufactured in exact formulations for research and pharmaceutical applications and an active ingredient to consumer-based solutions. This site uses Akismet to reduce spam. The back story of the cannabis concept stock Bright Green (NASDAQ: BGXX) involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud. The company was founded by Lynn Stockwell on April 16, 2019 and is headquartered in Fort Lauderdale, FL. Dr. Alfie Morgan is the director. These properties became the Sunnyland Farms. Although cannabis is not a legal industry in the eyes of the feds, the DEA granted conditional approval through a memorandum of understanding which makes Bright Green a legitimate federally legal cannabis grower and medical purpose distributor under the terms of agreement for sales to universities and research institutes. The Motley Fool confirms that the Bright Green Corporation filed for its initial public offering and went public in May of 2022. Logically, then, a DPOs valuation is tied directly to free market forces, which could offer a favorable outcome for the listing company. Lynn Stockwell is a founder and director. Total Debt to Equity Ratio (D/E) can also provide valuable insight into the companys financial health and market status. Bright Green is making fantastic progress, and 2023 promises to be a very exciting year as Bright Green and Alterola hope to come together following the completion of Bright Greens financing activities and the completion of their processing facilities in New Mexico, said Tim Rogers, Executive Chairman of the Board of Alterola. The company was incorporated in 2019 and is based in Fort Lauderdale, Florida. GRANTS, N.M., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Bright Green Corporation (NASDAQ: BGXX) (Bright Green or the Company), one of the very few companies selected by the U.S. government to grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export, today provided an update on progress on the execution of its business plan and the developments ahead for 2023. But before you take that step, you must sign up for a brokerage account. Subscribe to learn about the latest medical cannabis research, keep current on new resources and stay up on other news related to plant-based therapies. Your email address will not be published. Without electricity, they couldnt pump water to fight the fire, and the Estancia greenhouse was destroyed. Most companies clean up lawsuits before going public so that investors wont see the dirty laundry. Bright Green Corporation is eyed as a potential long-term investment, 20 Things You Didnt Know About Texas Roadhouse, 20 Things You Didnt Know about Project44, The History of and Story Behind the Waste Management Logo, environment with careful attention to the fine details that could affect, How Maralee Nichols Achieved a Net Worth of $2 Million, How Simone Biles Achieved a Net Worth of $16 Million. As a first mover in the federally licensed cannabis space, it has the opportunity to strike while the iron is hot. The operating expenses were $2.5 million for 2021, yet the business had a cash balance of $1.3 million. January 17, 2023 - 8:30 am. Alterola & Bright Green have today entered into a LoI to supply the necessary BRM and APIs to further advance development of Alterola's pharmaceutical assets These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management as of such date. The forward-looking statements included in this press release represent the Companys views as of the date of this press release. There are not analysts providing consensus earnings estimates for the current fiscal year. Today's Change (4.96%) $0.02. Although Capussi never signed any contracts with Stockwell, he met with state officials, helped put together business plans, talked to potential vendors, traveled to New Mexico, provided meeting facilities, and the like. By logical deduction, cannabis which has been cultivated by humans for at least 12,000 years, per University of Connecticut research grower Shelley Durocher should then be a no-brainer investment category. Bright Green Corporation estimates that the construction will complete in 2023 in Grants, New Mexico. Sector(s):HealthcareIndustry:Drug ManufacturersSpecialty & GenericFull Time Employees: Bright Green Corporation focuses on the propagation, cultivation, and manufacturing of cannabis products. Bright Green Corporation provides superior products for research teams, 4. The only thing keeping the deal from being consummated was that Bright Green needed to deposit some escrow money. Though debate rages on the topic, evidence indicates that the draconian stance on marijuana points to certain political motivations motivations that today many Americans find unpalatable, thus driving proposals for legal reformation. Bright Green Corp. will undertake a $300 million investment in a state-of-the-art cannabis agricultural research and production facility on company-owned property in Grants, New Mexico. based in Grants, New Mexico where Bright Green Cannabis is based. Bright Green reaches several key milestones, advancing progress against its strategic plan Company remains on track to start cultivation by the end of the year GRANTS, N.M., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation (Nasdaq: BGXX) ("Bright Green" or "the Company"), one of few companies selected by the U.S. government to grow, manufacture, and sell, legally under . Az eszkzre s az internetkapcsolatra vonatkoz adatok, pldul az IP-cme, A bngszsi s keressi tevkenysgei a Yahoo webhelyeinek s alkalmazsainak hasznlata kzben. Bright Greens operation will expand to millions of square feet, 15. Benzinga suggests some reasons to consider Bright Green Corporation stock as an addition to your current investment portfolio. The original CEO is suing them for valuation fraud, claiming that the companys founders pressured him to make false claims about the value of shares and the company. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. People have a long memory about their financial losses, which means interest could be lacking for Bright Greens DPO. Required fields are marked *. They will live high on the hog one day, and the next they wont open their door for registered mail, because of lawsuits and creditors trying to get their money. Still, reputational damage presents a headwind for marijuana stocks, thereby forcing investors to take a cautious approach. The overarching goal of the Bright Green Corporation is to provide essential products for researchers in their quest to promote medical science and body, health, and wellness for humans through its cannabis products. Thats why it went from $58 to 2 dollars in two weeks. The company is selective about the workers in charge of its live plant cultivation because the strains of the cannabis plants it develops must meet rigid standards of perfection. As of July 11, the stock's price was $2.22 per share a 95% fall from that May 2022 high. This is company is laughable. State-of-the-Art 22-Acre Greenhouse Slated for Completion in August. Bright Green Corporation is a privately-owned company consisting of an executive team experienced in technology, greenhouse operation, manufacturing, marketing, agriculture, body health & wellness and medical science. Bright Green Corporation (Nasdaq: BGXX ) First US marijuana plant-touching company to list on the In the case of Bright Green, the company states that no director or executive officer has filed for bankruptcy. The documents state that Stockwell approached Capussi and asked for assistance in starting a greenhouse business in New Mexico. "With the cooperative spirit of Federal, State, and business we found in New Mexico, we will see New Mexico and Bright Green Corporation become leaders in this emerging field of medical research . Through these debt and equity mechanisms, our goal will be to raise sufficient capital to commence and complete construction on Phase 2 of our facilities in New Mexico. Bright Green is the type of enterprise that can help change the world for the better. The Bright Green Corporation serves as an agricultural model, 9. Your email address will not be published. Granted they arent trading publicly, but they arent untested with regard to valuations. Following the U.S. Drug Enforcement Administration (DEA) inspection of Bright Greens agricultural complex, including its pre-existing facilities, as well as greenhouses and manufacturing facilities, in September 2022, the Company are very pleased to announce the completion of its processing facilities and have now scheduled a dry run audit, testing both the SOPs (Standard Operating Procedures) and processing capabilities as a requirement before final registration. Edward Robinson is the chief executive officer and director of Bright Green Corporation. Acquired 25 % of Alterola & # x27 ; s issued and outstanding common stock the total market of! Pueblo and that deal fell through bright green corporation change ( 4.96 % ) $ 0.02, New Mexico Green Systems operation. An agricultural model, 9 time, the total market value of the rapidly growing cannabis industry from... Cannabis-Based products for research into treatments and cures in the lawsuit that his employment wasnt on... 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