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Looking at the track record of Sunnyland and then Bright Green, it will remain a stock to keep under the microscope. ET. Bright Greens operation will expand to millions of square feet, 15. The Bright Green Corporation launched the groundbreaking of its New Mexico facility with the blessings of civic leaders, business leaders, and elected officials. BRIGHT GREEN CORPORATION : End-of-day quote, intraday chart, variations, volumes, technical indicators and last transactions, share BRIGHT GREEN CORPORATION | Nasdaq: BGXX | Nasdaq 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. 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. The enterprise maintains its commitment to engaging in sustainable manufacturing processes and giving back to the earth. However, a noteworthy positive is its balance sheet. 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.. You can read the article here and decide for yourself. 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. In addition to the Capussi lawsuit, Bright Greens former CEO John Fikany is also suing the company. 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. NasdaqCM - NasdaqCM Real Time Price. 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. 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. The firm provides federally . Now, the immediate question that arises is this: what makes Bright Green different from all the other marijuana stocks available? The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders equity. Bright Green Corporation is a drug manufacturers-specialty & generic business based in the US. However, such products must contain less than 0.3% delta-9-tetrahydrocannabinol (THC), the hallmark psychoactive compound of marijuana. 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 serves as an agricultural model, 9. Bright Green is the type of enterprise that can help change the world for the better. 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. 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. He took over the role in 2019, although his LinkedIn profile only states he is a special advisor, he is on the company website as the CEO. 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. But thats also where Bright Green is unique among marijuana stocks. 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 . Bright Green Corporation grows, manufactures, and sells . Bright Green Provides Operational Update on its Agricultural Complex in Grants, New Mexico. 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. Refer to Supplementary Information listed below for further drug information. 25. Bright Green Announces Closing of $10.0 Million Private Placement. Look it up. The Bright Green Corporation invested $300 million in its new complex in 2021. 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. State-of-the-Art 22-Acre Greenhouse Slated . 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 . This valuation figure is a key element in the complaint from the former CEO John Fikany. 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. Bright Green Corporation is an innovator, 8. If you want to participate in Bright Greens growth, youll need to know how to buy stocks. CNMEC gave up and paid this judgment amount. The pharmaceutical manufacturer focuses on the development of cannabis-based products for research into treatments and cures in the pharmaceutical industry. 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. Stockwells wife Lynn Stockwell is a Director of the company and owns 44% of the voting shares or 69 million shares. Without electricity, they couldnt pump water to fight the fire, and the Estancia greenhouse was destroyed. Many of the scams are basically pyramid scams. 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. Click here to download your Free Copy. 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. Today's Change (4.96%) $0.02. 4 min read. Approximately 544 miles north of Las Vegas lies what's been dubbed "the biggest lithium deposit in the US." The basic concept between an IPO and DPO is the same: enable retail (public) investors to acquire shares of a previously privately held enterprise. . Thus, he didnt meet the conditions of his employment and was terminated. The company's filing status is listed as Active and its File Number is 5992010. The business has not yet started to sell products or generate revenue. He gets an annual base salary of $540,000 paid in monthly installments. 24. Bright Green Corporation is a New Mexico Foreign Profit Corporation filed on October 30, 2020. Bright Green Corporation. 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. 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. 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. 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. It is currently valued at $0.50. The team at Bright Green Corporation is experienced and vetted in their areas of expertise. Enjoying a colorful history in the U.S., the passage of the 1970 Controlled Substances Act outlawed the use (including for medical purposes) of the much-maligned plant. Market Cap. Debra Borchardt June 2, 2022 19 min 6. The deal had been in the works prior to Fikany coming on board but hadnt actually closed. 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. In an IPO situation, founders, employees, and other early-stage investors are typically restricted from selling their stock right away. Currently, 35 states have issued mandates legalizing cannabis, which collectively offers a total addressable market of 3.6 million state-legal medical cannabis patients. The Companys actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the Companys Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the SEC) on March 29, 2022 and declared effective May 13, 2022, and in the Companys Quarterly Report on Form 10-Q/A filed with the SEC on August 19, 2022, as well as other documents that may be filed by the Company from time to time with the SEC. While the likely federal approval of Bright Greens cannabis enterprise will be a landmark achievement, the company has to parlay that success with meaningful momentum. Lets start up with the current stock price of Qurate Retail Inc. (QRTEA), which is $1.94 to be very precise. Wheres the 300m coming from and what was the point of going public besides enriching original investors?? We have now established our leadership role in the medical side of this emerging market and expect to play a significant role in the United States as well as worldwide., Our approach to raising the requisite capital to execute our business plan is both creative and relatively unique. Company owes more that $400,000 in unpaid principal and interest. 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. That business was called. Do your homework people!! This valuation figure is a key element in the complaint from the former CEO John Fikany. Through legal partnerships with state and federal agencies, the company can operate at scale in a manner unprecedented in this emerging market, addressing compliance, security, and integrity. 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. January 17, 2023 - 8:30 am. The company has developed an improved system for creating sustainable greenhouse growth conditions. Are you looking to buy an IPO? 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. 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. Second, federal approval for the specified scope of Bright Greens business may open pathways to future financial funding opportunities. Bright Green (BGXX 4.96%), was quite the outlier on . 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. 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 . But they dont care because theyve already secured their bag. It focuses on the research and development of cannabis strains and sales of products with cannabinol (CBN) and cannabigerol (CBG).

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