Although its everywhere these days, this is where the largest concentration of locations are, Read More 20 Things You Didnt Know About Texas RoadhouseContinue, If youve been to a supermarket lately, you are probably painfully aware of the shortages that are so readily apparent on the shelves. In addition to the Capussi lawsuit, Bright Greens former CEO John Fikany is also suing the company. 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 But before you take that step, you must sign up for a brokerage account. Fikany says in his lawsuit that Bright Green was a sham, operated illegally and fraudulently. He alleges that the Stockwells engaged in acts of fraudulent misrepresentation and attempted to force Fikany to aid and abet them in making fraudulent misrepresentations to investors concerning the valuation and progress of Bright Green Corporation. He is suing for $1.7 million in unpaid wages. Debra Borchardt June 2, 2022 19 min 6. According to the bankruptcy documents, in about 2003 Stockwell purchased the assets of Agstar of New Mexico, Inc., including greenhouses in Grants and Estancia, New Mexico. The Company is engaged in cannabis propagation, cultivation, and manufacturing of . Ready to start growing your canna-business. Bright Green Corporation focuses on the propagation, cultivation, and manufacturing of cannabis products. Bright Green Corporation provides federally-authorized researchers legal access to high-quality cannabis and associated products. If you judged it regarding the age of the operation it would still be in its infancy stage of development, but thats not the case for Bright Green. The business has not yet started to sell products or generate revenue. 4 min read. According to the NASDAQ website, Companies choosing a direct listing typically have had no immediate need for additional capital, have a large and diverse shareholder base and are a well-known brand with an easy-to-understand business model. Now, the immediate question that arises is this: what makes Bright Green different from all the other marijuana stocks available? With the $65.9 billion market estimate, sizable profits are possible. Bright Green and Alterola share the vision of creating FDA and other regulatory-approved medicines which will deliver therapeutic benefits to patients for specific conditions and producing high quality BRM and APIs. This area is where the public market separates the contenders from the pretenders. Bright Green in its statement suggests that Fikany was hired to complete the Acoma Pueblo deal, which ultimately never closed. Bright Green Corporation ( NASDAQ: BGXX) has filed to raise an undisclosed amount via a direct listing of its common stock, according to an S-1 registration statement. The organization broke ground on a cannabis research complex valued at an estimated $300 million in October of 2021. Without electricity, they couldnt pump water to fight the fire, and the Estancia greenhouse was destroyed. 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 . The idea is that investors should have adequate information in order to make a wise investment decision. You can read the article here and decide for yourself. Bright Green and Alterola share the vision of creating FDA and other regulatory-approved medicines which will deliver therapeutic benefits to patients for specific conditions and producing high quality BRM and APIs. Bright Green Corp. engages in the cultivation, manufacture, and sale of medical cannabis. He is also the chief executive officer of the corporation. Stockwell is a Canadian citizen and his next-door neighbor in Canada was Jerry Capussi who is suing for shares of Bright Green. Requirements from NASDAQ about. 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. Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stocks existing status and the future performance. This valuation figure is a key element in the complaint from the former CEO John Fikany. Bright Green Corporation is an American pharmaceutical manufacturer that produces plant-based medicines and cannabis-related products for research and use in pharmaceutical applications. The Sunnyland fire was most likely arson, as he knew with the hydro shut off, he had the perfect storm to destroy the place, and make it look legit. 1. Some of the key advantages of Bright Green are listed below: Finally, Bright Green is constructing a state-of-the-art $300 million complex in Grants, New Mexico, that per its website will become the nations largest federally authorized and most advanced manufacturing and research facilities for plant-based therapies, including cannabis.. 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. It has the blessings of the DEA, through a memorandum of agreement signed by both parties. Undeterred, Fikany continued to push back. The company recently made business news when it went public on the Nasdaq stock exchange. Bright Greens operation will expand to millions of square feet, 15. At some point during these years, it seems the Sunnyland greenhouses were transferred to Lynn Stockwell who then transferred the property to Bright Green. In 2017, John Stockwell was listed as the CEO of Bright Green according to this Albuquerque story which stated the greenhouse would open in 2017. Raw Stochastic average of Bright Green Corporation in the period of last 50 days is set at 34.72%. The Bright Green Corporation is a publicly-traded company, 18. Bright Green broke ground on its cannabis research complex in 2021, 11. Debra Borchardt is the Co-Founder, and Executive Editor of GMR. Therefore, if none of these entities want to sell their shares, a transaction will not occur. But thats also where Bright Green is unique among marijuana stocks. If you like to purchase items on credit, its one of the easiest companies to use. Required fields are marked *. Yes, cannabis stocks are legal to trade, but you should ensure that cannabis products are legal for you to own or transport in your state of residence or wherever you are traveling. The Bright Green Corporation invested $300 million in its new complex in 2021. Robinson was the Chief Executive Officer of BMW Financial Services for the Americas Region from April 2005 to December 2016. He is no longer listed as having a role in the company. About Bright Green Do Sirius XM Holdings Inc. (SIRI) beta value of 0.92 signposts another twist. The company played up its connection to the DEA suggesting that the Memorandum of Agreement was a done deal, even though the company doesnt have a formal contract with the DEA. Consult a good lawyer and add NASDAQ to the case. Learn how your comment data is processed. Its massive complex is powered with automation technology that is state of the art. Anyone who gives them money deserves to lose it. Bright Green Corporations ISS Governance QualityScore as of N/A is N/A. The company was founded by Lynn Stockwell on April 16, 2019 and is headquartered in Fort Lauderdale, FL. 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. $84M. Bright Green Corporation is a Fort Lauderdale, Florida-based operation, 2. Still, reputational damage presents a headwind for marijuana stocks, thereby forcing investors to take a cautious approach. securely through SoFi Active Invest (Brokerage)'s website, securely through Freedom Finance's website, cultivated by humans for at least 12,000 years, What Analysts are Saying About Bright Green IPO, Do Not Sell My Personal Data/Privacy Policy. The company is still in the startup phase and will be there for some time, but it is a business with bright prospects. Theyll have to make another offering that dilutes the crap out of the shares. Bright Green Corporation employs 0 staff and has a market . 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. That was less than a year ago and the enterprise is already making history. BRIGHT GREEN CANNABIS, INC. Santa Fe, NM, May 24, 2021 (GLOBE NEWSWIRE) Rural New Mexico will soon be the home . The public can only buy the shares that are sold by the insiders. 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" or "the Company"), one of the very few companies selected by the U.S. government to grow . In the last 20 days, the companys Stochastic %K was 21.09% and its Stochastic %D was recorded 15.45%. GRANTS, N.M., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation (Nasdaq: BGXX) ("Bright Green" or "the Company . 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. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Common stock shares were lifted by -61.87% during last recorded quarter. Edward Robinson is the founder and CEO of the Robinson Advisory Services PLLC. While he was employed, Fikany was working on a deal for Bright Green to develop a cultivation facility on Indian land with the Acoma Pueblo tribe. Bright Green Corporation | 148 followers on LinkedIn. Bright Green started as a privately held enterprise, 17. Its engaged in a partnership with The Forest Fire Recovery project in Ruidoso, New Mexico, to plant trees that were lost in the McBride fire. The systems of Bright Green operations are a meticulously ordered set of processes that involve the management of an enclosed greenhouse ecosystem. The Bright Green Corporation reports that its team of greenhouse workers are specialists and experts known throughout the world for their expertise in live-plant cultivation. Bright Green Stock Makes Its Trading Debut. With Sofi Active Invest you can participate in upcoming IPOs before they trade on an exchange. Bright Green Corporation is a vertically integrated cannabis company and multi-state operator in the US and internationally. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Additional information regarding these and other factors that could affect the Companys results is included in the Companys SEC filings, which may be obtained by visiting the SEC's website at www.sec.gov. This company, however, is sitting on a goldmine opportunity as it plans to produce 30,000 tonnes per annum over the next 3.5 years from this single deposit. Even worse, the Central New Mexico Electric Cooperative (CNMEC) had shut off the electricity at the greenhouse. Bright Green Corporation is a provider of cannabis, cannabis-related products, and other legal medicinal plant-based therapies, manufactured in exact formulations for research and pharmaceutical applications, as well as ingredient to consumer-based solutions. The company has achieved an efficient automated production system for the production of superior quality cannabis products. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Subscribe to the Green Market Report newsletter that gives you original content delivered straight to yourinbox. Can I sue the company it took my 15K out of 30K investment, their fraud resulted in a heavy loss for me. When it comes to the year-to-date metrics, the Bright Green Corporation (BGXX) recorded performance in the market was -98.20%, having the revenues showcasing -61.87% on a quarterly basis in comparison with the same period year before. 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 . The documents state that Stockwell approached Capussi and asked for assistance in starting a greenhouse business in New Mexico. The potential for receiving full federal recognition for its business purposes is high. Bright Green is leveraging automation and technologically driven research & development to cultivate pharmaceutical-grade plants, including medical cannabis and marihuana, delivering consistent quality in a state-of-the-art, environmentally controlled, organic ecosystem. The Bright Green Corporation is still in the process of building its massive growing operation in New Mexico. 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. Bright Green Corporation provides superior products for research teams, 4. Another thing that is unique about companies going public is that the SEC requires a bankruptcy to be disclosed to potential shareholders. On the other hand, a DPO does not involve the issuance of new shares for the proceeding. Recent examples of direct listings include Coinbase (COIN) and Spotify (SPOT).. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Not one single plant has been grown. 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 . Its still in the developmental stages of that part of its journey. 1. Its a pump and dump. If youre not yet familiar with the organization, here are twenty things you probably didnt know about Bright Green Corporation to bring you up to speed. One aspect that has long plagued the cannabis industry is legal vagaries and any company that can overcome this challenge may lever a massive advantage. Most companies clean up lawsuits before going public so that investors wont see the dirty laundry. Current Price. Bright Green Corp IPOd on May 17, 2022, selling more than 150 million shares at a value of $15.99 per share and closed that day at $25.25 with a valuation of just over $4 billion. 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 . Our conditional approval based on already agreed terms from the U.S. Drug Enforcement Administration gives us the opportunity to advance our vision of improving quality of life through the opportunities presented by cannabis-derived therapies. Even though he said he had other offers on the table, the Stockwells said they could pay more. It is a new era in pharmaceuticals with an emphasis on research in plant-based therapies, with implications that go far beyond the cannabis niche. These are just a few of the qualities that make Bright Green Corporation stand out in the agricultural and pharmaceutical product manufacturing arena. By utilizing traditional debt financing to secure interim working capital, and as a bridge to the more substantive and longer-term equity investments, through both Federal and State programs, Bright Green aims to deliver the required investment in the company with a minimally dilutive effect, said Seamus McAuley, Chief Operating Officer of Bright Green. In addition, long term Debt to Equity ratio is set at 0.00. It has grown to become the largest of its kind in the world. In that particular session, Stock kicked-off at the price, AEye Inc. (LIDR) is priced at $0.70 after the most recent trading session. Bright Green Corp. made history last month as the first plant-touching marijuana business to trade on a major U.S. stock exchange, and its market value soared as a result - to $9 billion at one point. Typically in groundbreaking ceremonies, only top executives or board members take the stage. The Bright Green Corporation serves as an agricultural model, 9. Bright Green operates a superior genetics breeding program, 5. Bright Green Corp IPO'd on May 17, 2022, selling more than 150 million shares at a value of $15.99 per share and closed that day at $25.25 with a valuation of . So where are these claims coming from? Year-to-date Price performance of the companys stock appears to be encouraging, given the fact the metric is recording -98.20%. The Stockwells are well known for their scam business ventures in their hometown of Leamington, Ontario Canada. 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 . 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. Bright Green Corporation grows, manufactures, and sells . In 2020, she lent the company $392,194 and has no fixed repayment term. So he lists his wife as founder. Lets start up with the current stock price of Qurate Retail Inc. (QRTEA), which is $1.94 to be very precise. But this is just one of the opportunities we have researched in our free report. In his lawsuit, he claims that the Stockwells approached him to be CEO. 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. Still, not everything about Bright Green is positively compelling. it cultivates hybrids with zero risk of cross-contamination. The team at Bright Green Corporation is experienced and vetted in their areas of expertise. She was at the groundbreaking ceremony for the $300 million planned research complex, even though the company has nowhere near that amount of money. Company owes more that $400,000 in unpaid principal and interest. Recent cannabis research shows that the primary use of the plant in the U.S. remains overwhelmingly recreational, to the tune of 89.5% versus 10.5% solely for medical purposes. Currently, 35 states have issued mandates legalizing cannabis, which collectively offers a total addressable market of 3.6 million state-legal medical cannabis patients. About Bright GreenBright Green is one of the very few companies selected by the US government to grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export. 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. At the very opening of the session, the stock price was $0.68, For the readers interested in the stock health of Sirius XM Holdings Inc. (SIRI). Your email address will not be published. These forward-looking statements should not be relied upon as representing the Companys views as of any date subsequent to the date of this press release. 251 LITTLE FALLS DRIVE; Wilmington; 19808; DE; USA; Governing Legislation. Bright Green is one of the very few companies selected by the US government to grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export. Especially under present economic difficulties, cannabis businesses make sense because of their potential as a taxable revenue source. 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. The public can only buy the shares that are sold by the insiders. 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. Stockwells wife Lynn Stockwell is a Director of the company and owns 44% of the voting shares or 69 million shares. Meeting these goals will further enhance our capabilities throughout 2023 and 2024 as our capital needs are achieved. 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. Crunchbase confirms that Bright Green Corporation is in the Fort Lauderdale part of Florida. Unfortunately, one of Stockwells employees inadvertently started a fire at the Estancia greenhouse. 24. Logically, then, a DPOs valuation is tied directly to free market forces, which could offer a favorable outcome for the listing company. 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 Company anticipates that subsequent events and developments will cause its views to change. 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. Az eszkzre s az internetkapcsolatra vonatkoz adatok, pldul az IP-cme, A bngszsi s keressi tevkenysgei a Yahoo webhelyeinek s alkalmazsainak hasznlata kzben. Left to right: Dean Valore, Ed Robinson, Terry Rafih, Lynn Stockwell, John Stockwell, Robert Arnone. June 28, 2022 08:00 ET | Source: Bright Green Corporation. based in Grants, New Mexico where Bright Green Cannabis is based. Investchronicle.com is an Economic news website, which offers broad information about the Stock markets and Equities. The products are prized by researchers in pharmaceutical applications as they promote adherence to academic rigor and fewer variables to account for while generating meaningful research data. Bright Green Corporation is a drug manufacturers-specialty & generic business based in the US. The Stockwells deny the allegations about the misrepresentation of the valuation of Bright Green, but they do admit that the deal with the Acoma Pueblo did fall through. 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 . They did a direct listing instead of an actual IPO, which means its not even underwritten and theres no lockup period and insiders were allowed to cash out immediately and dump the stock onto retail investors. 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