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Started By
Message
Is IGC a Scam?
Posted on 10/2/18 at 10:54 am
Posted on 10/2/18 at 10:54 am
I know there's a long thread on weed stocks but I really didn't feel like skimming through the whole thing to see if this had been talked about.
Is this company a scam? Their website looks kind of shady. They only have 26 Employees.I can't find any actual products they have at least presented or made prototypes/samples for. Their liquidity is awful. I don't know maybe I'm just being paranoid but it seems sketch.
Got 600 shares @$8.41 and currently debating on selling. Also in on NBEV which seems more legitimate.
Is this company a scam? Their website looks kind of shady. They only have 26 Employees.I can't find any actual products they have at least presented or made prototypes/samples for. Their liquidity is awful. I don't know maybe I'm just being paranoid but it seems sketch.
Got 600 shares @$8.41 and currently debating on selling. Also in on NBEV which seems more legitimate.
8
Posted on 10/2/18 at 11:05 am to The Ostrich
This seems like a logical post for the existing thread.
Posted on 10/2/18 at 11:10 am to ATLdawg25
quote:
This seems like a logical post for the existing thread.
Did you read the first part?
Sorry to clutter this high traffic board with a question about an individual company that I didn't want to get skipped over in a 19 page thread. My bad man.
Posted on 10/2/18 at 11:28 am to The Ostrich
I was very hesitant to get into IGC but did so today. A friend told me about it sometime back - a friend who is all I to these weed stocks. Told him I wouldn’t touch it because I couldn’t find any info about it. Yet here I am today buying it at 10-something and there’s still no info.
It is still under $1 billion market cap. Was about $30 million when I first heard about it. Can offer no solid info beyond that.
It is still under $1 billion market cap. Was about $30 million when I first heard about it. Can offer no solid info beyond that.
Posted on 10/2/18 at 12:39 pm to The Ostrich
I bought in at 6, it’s going to the moon
Posted on 10/2/18 at 4:51 pm to el Gaucho
I got in at 48 cents like 6 months ago b/c one of my pot head coworkers and I were having some beers after work on a Friday and he was like "hey man you should buy some of this IGC. It's gonna blow up soon".
So I was like yeah whatever I'll waste a few dollars so we have something to talk about at work.
Well I got got 84 at 48 cents, and I'm almost certain my friend is a genius.
So I was like yeah whatever I'll waste a few dollars so we have something to talk about at work.
Well I got got 84 at 48 cents, and I'm almost certain my friend is a genius.
Posted on 10/2/18 at 4:59 pm to The Ostrich
I couldn’t find their address. Do they even have an Investor Relations number?
Posted on 10/2/18 at 5:00 pm to YungFO
quote:
Well I got got 84 at 48 cents, and I'm almost certain my friend is a genius.
I own an antique clock that doesn't work any more, yet it's still right twice a day. Just something to think about.
Posted on 10/3/18 at 12:46 am to arkiebrian
quote:Here is a press release from their most recent quarterly filing:
I was very hesitant to get into IGC but did so today. A friend told me about it sometime back - a friend who is all I to these weed stocks. Told him I wouldn’t touch it because I couldn’t find any info about it. Yet here I am today buying it at 10-something and there’s still no info.
April-June 2018 Filing
quote:Now a 2700% increase in revenue YOY sounds pretty good BUT:
Total revenue was approximately $1.48 million for the three months ended June 30, 2018, as compared to approximately $53 thousand for the three months ended June 30, 2017.
quote:
The increase and all quarterly revenue was attributable to the legacy trading business.
quote:
IGC has two lines of business, a legacy infrastructure business and a cannabis supplement/pharmaceutical business that has developed a lead product for treating Alzheimer’s patients.
quote:This just seems very odd to me. They spent 10 years as a company that traded commodities, leased construction equipment, and managed real estate in some Asian countries, and now they are expanding to marijuana products and pharmaceuticals? And apparently their revenue and growth is entirely attributed to their traditional business, which used to bring in $10 to $20 million a quarter in revenue a decade ago and is now $1.48 million is a 2,700% increase.
In 2008 we started our infrastructure business, which consists of commodity trading (steel, ore, building materials, among others), heavy construction equipment leasing, and real estate management. We operate the infrastructure business between India, Hong Kong, and Malaysia.
This just seems like a dying, borderline dead, company trying to take appear to be getting into a market with a lot of hype, even though it makes little sense and is probably just trying to ride the bubble as much as it can, much like crypto last year. In fact, they're even tapping into the reminents of that bubble too:
quote:I'm not saying it's a scam, but I think you better have a quick exit strategy, even though I don't know why one would buy it at that price anyways, let alone with no information whatsoever.
ing, product identification assurance (PIA), and product origin assurance (POA).
Posted on 10/3/18 at 1:30 am to buckeye_vol
Just to put this craze into perspective.
1. IGC hit peak market cap of about $438 million yesterday.
2. IGC has been public since 2006 with 49 quarters of data, and over those 49 quarters:
3. They’ve had a TOTAL REVENUE of about $90 million.
4. They’ve had a total EBIDTA of about -$27.
5. They’ve had a total net income of about -$54 million.
In other words, Tesla’s market cap is seems as unjustifiably large and their TTM price to sales ratio is 3.7. IGC’s price (at peak) to sales (for the trailing 147 month) is almost 5, and it’s TTM P/S is over 105.
1. IGC hit peak market cap of about $438 million yesterday.
2. IGC has been public since 2006 with 49 quarters of data, and over those 49 quarters:
3. They’ve had a TOTAL REVENUE of about $90 million.
4. They’ve had a total EBIDTA of about -$27.
5. They’ve had a total net income of about -$54 million.
In other words, Tesla’s market cap is seems as unjustifiably large and their TTM price to sales ratio is 3.7. IGC’s price (at peak) to sales (for the trailing 147 month) is almost 5, and it’s TTM P/S is over 105.
Posted on 10/3/18 at 10:36 am to buckeye_vol
quote:
buckeye_vol
Best info I’ve seen. Thank you.
Posted on 10/3/18 at 10:39 am to Jag_Warrior
Yeah, I'm totally with you. My friend is NOT a genius. I was just sharing a personal anecdote that happened to work out for me. Although I'm wishing I would've sold at 14 yesterday. I can see it steadying out at 11 for awhile.
Posted on 10/4/18 at 9:15 am to The Ostrich
Appears to be dumping now after going from less than $1 to $14 in just a few days. Steadily bleeding now... so strange
Posted on 10/4/18 at 9:20 am to The Ostrich
NBEV rolling today. Better long term play IMO
Posted on 10/4/18 at 1:02 pm to ItNeverRains
Just grabbed 50 shares NBEV for the long ride
This post was edited on 10/4/18 at 1:03 pm
Posted on 10/4/18 at 3:26 pm to The Ostrich
Ostrich did u sell? It keeps bleeding. Looks like a Belfort stock
Posted on 10/5/18 at 10:30 am to The Ostrich
Yes
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