Requirements from NASDAQ about. The shares increased approximately by 12.89% in the 7-day charts and went up by -19.91% in the period of the last 30 days. 22. 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. Recent examples of direct listings include Coinbase (COIN) and Spotify (SPOT).. It is currently valued at $0.50. Theyll have to make another offering that dilutes the crap out of the shares. In addition to the Capussi lawsuit, Bright Greens former CEO John Fikany is also suing the company. Bright Green in its statement suggests that Fikany was hired to complete the Acoma Pueblo deal, which ultimately never closed. 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 . Here let me add a few more to your list: 21. Most companies clean up lawsuits before going public so that investors wont see the dirty laundry. Bright Green Provides Update on Progress as It Prepares for Multiple Activities in 2023. The Registered Agent on file for this company is Registered Agents Inc. and is located at 530-B Harkle Road Ste 100, Santa Fe, NM 87505. The basic concept between an IPO and DPO is the same: enable retail (public) investors to acquire shares of a previously privately held enterprise. However, ample industry data provides important clues for prospective IPO participants. Lucky for Bright Green it clearly states in its S-1, Because of our novel listing process on the Nasdaq Capital Market, Nasdaqs rules for ensuring compliance with its initial listing standards, such as those requiring a valuation or other compelling evidence of value, are untested. January 17, 2023, 13:30 GMT. "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 . Company remains on track to start cultivation by the end of the year. Learn how your comment data is processed. Bright Green Corporation provides federally-authorized researchers legal access to high-quality cannabis and associated products. The Company anticipates that subsequent events and developments will cause its views to change. I am also pleased with the Bright Green teams progress and as a result the Company will move forward with building revenue and creating a significant future for our stakeholders. Bright Green Corporation is a privately-owned company consisting of an executive team experienced in technology, greenhouse operation, manufacturing, marketing, agriculture, body health & wellness . Our mission is to make a difference and improve lives. Lynn Stockwell is a founder and director. At this juncture, cannabis investors must consider the possible threat of the black market. Our team is cultivating the industrys critical news into one source and providing open source insights and data analysis, Bespoke Financial Sues In Da Cut For Not Paying Its Debt https://t.co/cStDNi2CYO, Number of the Week: 35% https://t.co/czF1LKKFvP, Cannabis ETF Investors: Bad Timers, but Committed https://t.co/2sN9SCgUDh. Michigan-based Fikany is an accomplished executive who was once Vice President, North America sales strategy for Oracle, Vice President at Microsoft, and Vice President at Quicken Loans. Supplying the electric vehicle boom and potentially driving its stock price off the charts. The company's filing status is listed as Active and its File Number is 5992010. As of the end of 2021, Bright Green posted a total asset count of $8.78 million compared to total liabilities of only $560,156. Look it up. 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 Click here to download your Free Copy. 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. BGXX. . Az adatvdelmi irnyelvek kztt s a Cookie-szablyzatban bvebben olvashat arrl, hogyan hasznljuk fel az adatait. In a similar fashion, Bright Green Corporation posted a movement of -62.80% for the period of last 100 days, recording 1,664,533 in trading volumes. She was at the groundbreaking ceremony for the $300 million planned research complex, even though the company has nowhere near that amount of money. 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. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk. Bright Green Corporation grows, manufactures, and sells . He sued CNMEC in 2005, alleging that the utility wrongfully disconnected the electricity service and was awarded about $22 million in damages. 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. The project is expected to initially create 200 research and agricultural jobs. 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 . Bright Green Corporation Our Mission. Bright Green could purchase more mature plants to speed up the process, but then the DEA would actually be buying someone elses plants. Thats of course after insiders sell their shares. 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. 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. The documents state that Stockwell approached Capussi and asked for assistance in starting a greenhouse business in New Mexico. Although stock analysts point out that the future of the Bright Green Corporation is uncertain, there is no escaping the significant contributions its making to the improvement of agricultural processes and growing methods. The medical marijuana market will explode over the next seven years. 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 . The pharmaceutical manufacturer focuses on the development of cannabis-based products for research into treatments and cures in the pharmaceutical industry. Consult a good lawyer and add NASDAQ to the case. 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. Therefore, established market analysts have not yet weighed in on Bright Greens potential and risk factors. It implements the use of robotics including a device called the Visser Transplanter. The Bright Green Corporation is still in the process of building its massive growing operation in New Mexico. Bright Green Former CEO Claims Valuation Fraud. With Sofi Active Invest you can participate in upcoming IPOs before they trade on an exchange. Stockwell is a Canadian citizen and his next-door neighbor in Canada was Jerry Capussi who is suing for shares of Bright Green. He is no longer listed as having a role in the company. However, it does have net losses to the tune of $2.49 million in 2021 and $3 million in 2020. The research complex is located in Grants, New Mexico, although the headquarters for Bright Green is in Fort Lauderdale, Florida. Does that make sense to you? However, from time to time, the market can act irrationally. Bright Green Corporation v. John Fikany, D-1333-CV-2020-00231, State of New Mexico, County of . 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. Through strict oversight, BrightGreen helps to enhance the consistency of harvest and purity of the product. Bright Green Corporation has applied to be registered as an importer of basic class(es) of controlled substance(s). Thus, the relevance for BGXX stock could be more limited than its underlying marketing literature implies. At the time Lynn Stockwell said, With the cooperative spirit of federal, state and business we found in New Mexico, we will see New Mexico and Bright Green Corp. become leaders in this emerging field of medical research. 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 Bright Green Corporation runs a tight ship, 7. 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 In 2017, John Stockwell was listed as the CEO of Bright Green according to, which stated the greenhouse would open in 2017. Wheres the 300m coming from and what was the point of going public besides enriching original investors?? After six months of work, Fikany had yet to be paid. Bright Green Corporation. Bright Green (BGXX 4.96%), was quite the outlier on . Dean M. Valore is a director. But thats also where Bright Green is unique among marijuana stocks. Extending health through cannabis, Bright Green is leading the way on plant-based therapies. Lets start up with the current stock price of Qurate Retail Inc. (QRTEA), which is $1.94 to be very precise. 251 LITTLE FALLS DRIVE; Wilmington; 19808; DE; USA; Governing Legislation. Something is missing from that narrative. Instead, this type of listing depends entirely on the availability of stock from current employees and investors. Bright Green Announces Closing of $10.0 Million Private Placement. 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. At the time of this writing, the total market value of the company is set at 76.68M. Bright Green Corporation is a Fort Lauderdale, Florida-based operation. Fikany says he was concerned about the false and misleading nature of Stockwells valuation report asking, How is it possible that we continue to radically increase our valuation from $1.5 billion to 2.5 to 4.0 to 6.5? According to the complaint, Fikany became worried his name would be attached to the companys valuation statement, which he believed was false and inaccurate. 28. Currency in USD. As a first mover in the federally licensed cannabis space, it has the opportunity to strike while the iron is hot. Bright Green Corporation is an innovator, 8. The enterprise maintains its commitment to engaging in sustainable manufacturing processes and giving back to the earth. 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. 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. Moreover, the reputation for marijuana stocks as an investment class is poor. The Bright Green Corporation sets the example of innovation in greenhouse growth through its optimization of plant growth. GRANTS, N.M., Oct. 07, 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 . 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. He is no longer listed as having a role in the company. One tiny company stands to be the biggest beneficiary because lithium "faces a long-term supply shortage," according to Barron's. Bright Greens operation will expand to millions of square feet, 15. The Bright Green Corporation is credited for developing one of the most advanced greenhouse systems for agriculture that the world has known. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. Stockwells wife Lynn Stockwell is a Director of the company and owns 44% of the voting shares or 69 million shares. The company has achieved an efficient automated production system for the production of superior quality cannabis products. 25. DATES: Registered bulk manufacturers of the affected basic class(es), and applicants therefore, may submit electronic comments on or objections to the . 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. There are not analysts providing consensus earnings estimates for the current fiscal year. June 28, 2022 08:00 ET | Source: Bright Green Corporation. Every company that he has been involved with has lost massive amounts of money or gone bankrupt. 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, New Mexico. GRANTS, N.M., March 29, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation ("Bright Green"), one of the very few companies selected by the US government to grow, manufacture, and sell, legally . 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 . About Bright Green 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 . Its products will further research at pharmaceutical companies and universities throughout the United States. 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. At the same time, institutional investors have not had the time to perform a price discovery process, meaning that you would not be working with an established benchmark to judge fair value. 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.. Edward Robinson is the founder and CEO of the Robinson Advisory Services PLLC. This site uses Akismet to reduce spam. 26. I am also pleased with the Bright Green teams progress and as a result the Company will move forward with building revenue and creating a significant future for our stakeholders. The processes occur within a controlled environment with careful attention to the fine details that could affect the cloning and propagation processes. People have a long memory about their financial losses, which means interest could be lacking for Bright Greens DPO. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. 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. But they dont care because theyve already secured their bag. The Bright Green Corporation serves as an agricultural model, 9. 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 . Although cannabis use is still illegal at the federal level for recreational use it is legal as medication and for research purposes. 1033 George Hanosh BoulevardGrants, NM 87020United States833 658 1799https://www.brightgreen.us. With inflation reaching ridiculous levels and law enforcement inundated with more pressing concerns, the temptation of illicitly sourced (and cheaper) cannabis may be too much for many users to ignore. Photo published by Albuquerque Business First. These efforts, when completed, will designate Bright Green as one of the largest producers of cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export in the world.. That was less than a year ago and the enterprise is already making history. 27. State-of-the-Art 22-Acre Greenhouse Slated for Completion in August. Its still in the developmental stages of that part of its journey. Santa Fe, NM, May 24, 2021 (GLOBE NEWSWIRE) Rural New Mexico will soon be the home . 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. The DEA also would not confirm it had a contract with Bright Green and wouldnt comment on the MOA. They issued millions of shares to themselves at one penny and have mostly cashed out already. Bright Green Corporation stocks (BGXX.US) are listed on the NASDAQ and all prices are listed in US Dollars. The forward-looking statements included in this press release represent the Companys views as of the date of this press release. Theres two sides to every story but it doesnt look good. 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). In that particular session, Stock kicked-off at the price, AEye Inc. (LIDR) is priced at $0.70 after the most recent trading session. Santa Fe, N.M. -- Rural New Mexico will soon be the home to one of the nation's largest cannabis manufacturing and research facilities, New Mexico Gov. Completion of the growing and manufacturing operation wont happen until 2023. Not big enough to recoup a 300m investment, thats for sure. 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. However, his wife Lynn Stockwell is a Director of Bright Green and John Stockwell did, The documents state that Stockwell approached Capussi and asked for assistance in starting a greenhouse business in New Mexico. Requirements from NASDAQ about direct listings 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. Anyone who gives them money deserves to lose it. 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. The Company undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Kurt Riley, surrounded by members of Tribal Council and Acoma Business Enterprises, signing a business agreement with Bright Green Group on Dec. 16, 2017. Bright Green Corporation estimates that the construction will complete in 2023 in Grants, New Mexico. The only thing keeping the deal from being consummated was that Bright Green needed to deposit some escrow money. When the transactions were called. Unfortunately, this was fully encumbered by the first lien of the Stockwells pre-petition secured lender. Capussi was awarded $108,000, which was a much smaller amount than the $2 million he had wanted. In the last 20 days, the companys Stochastic %K was 21.09% and its Stochastic %D was recorded 15.45%. Even though he said he had other offers on the table, the Stockwells said they could pay more. Bright Green Corporation produces crops of cannabis that are unique within the agricultural industry. The actual founder of the company l isnt allowed to be listed anywhere because the first attempt at this went bankrupt and included a burned down greenhouse. However, costs to the listing company can be steep because one, it must recruit the services of investment banks and two, underwriters typically sell shares to the public at a discount to their intrinsic value to attract the most hype. Now, the immediate question that arises is this: what makes Bright Green different from all the other marijuana stocks available? Your email address will not be published. Undeterred, Fikany continued to push back. ("Bright Green" or "the Company"), one of the very few companies selected by the U.S. government to grow . This is also the second groundbreaking ceremony. It has grown to become the largest of its kind in the world. 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. One issue that arose during the process was the valuation of Bright Green. The idea is that investors should have adequate information in order to make a wise investment decision. This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. $0.49. Bright Green stock forecasts are adjusted once a day based on the closing price of the previous trading day. I can unsubscribe or change my email preferences atanytime. Its how discoveries occur. This area is where the public market separates the contenders from the pretenders. Bright Green Corporation has not yet generated revenue, 20. Its last market close was $0.489 - an increase of 27.68% over the previous week. https://www.greenmarketreport.com/bright-green-former-ceo-claims-valuation-fraud/. 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. Granted they arent trading publicly, but they arent untested with regard to valuations. 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 . Bright Green has a six-member board of directors, 10. GRANTS, N.M., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Bright Green Corporation. In his lawsuit, he claims that the Stockwells approached him to be CEO. Cautionary Note Regarding Forward-Looking Statements: Even worse, the Central New Mexico Electric Cooperative (CNMEC) had shut off the electricity at the greenhouse. 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. Thats why it went from $58 to 2 dollars in two weeks. Stockwell was responsible for hiring the advisors to determine the number, but Fikany said the valuation was misleading and aggressive. 42 subscribers in the BGXXBrightGreen community. Bright Green Corporation is an American pharmaceutical manufacturer that produces plant-based medicines and cannabis-related products for research and use in pharmaceutical applications. Required fields are marked *. Company owes more that $400,000 in unpaid principal and interest. BRIGHT GREEN CORPORATION Company Number 6763218 Incorporation Date 20 February 2018 (almost 5 years ago) Company Type Corporation Jurisdiction Delaware (US) Previous Names. | Bright Green is a first-mover in the U.S . Bright Green Corporation employs 0 staff and has a market . The forward-looking statements included in this press release represent the Companys views as of the date of this press release. The organization broke ground on a cannabis research complex valued at an estimated $300 million in October of 2021. Bright Green Stock Makes Its Trading Debut. 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 pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. If youre from the Midwestern or Southern part of the United States, youre probably familiar with the Texas Roadhouse restaurant chain. ET. To learn more, visit www.brightgreen.us. Bright Green Corporation focuses on the propagation, cultivation, and manufacturing of cannabis products. Get Bright Green Corp (BGXX)'s stock analysis, price valuation, corporate actions, and financials from India's independent mutual fund research house. "This quarter, Bright Green reached . The employment contract reads, Robinson shall receive monthly payments in the amount of $6,750 with an aggregate of $344,250 in deferred compensation due and payable on or before December 15, 2022. Robinson got 5.6 million shares, while his wife Elaine Robinson received 605,000 shares. Bright Green acquired 25% of Alterola's issued and outstanding common stock. To understand the meaning of the, Read More The History of and Story Behind the Waste Management LogoContinue, Foxconn is a Taiwanese startup that has evolved into a multinational electronics contract manufacturing company. The company has developed an improved system for creating sustainable greenhouse growth conditions. It operates a cost-effective system of indoor growing that produces higher yields and extended harvesting with its full-year cultivation. 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. The Company is engaged in cannabis propagation, cultivation, and manufacturing of . 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