This is a good way to give the weed business a bad rep

[flylowgethigh]

https://www.zerohedge.com/markets/d...y-set-go-smoke-after-posting-monster-50m-loss

Somehow this doesn't project the weed vibe to me...

 

[rolandomota]

Ponzi scheme but the profits comes from weed not fake or bad investments the marketing expenses says it all though Ponzi scheme it's not cocaine but then again look at the harbor side profits no more lying about them being non profit hmmmm this makes me wonder either way this Ponzi scheme might last a good minute

Actually the end looks like it's near this guy belongs in an American greed episode

 

[Tudo]

They suck




Hey they have such a great scam going on in Fla that they do not even have to show thc/cbd levels at dispensaries! ( Hey this is, er, weed! Just buy it because the owners want to buy matching porches this year ( for both themselves and don't forget these are his and hers for the wives too! )


Not quite the type of lowlife scumbags that permeate the medical community but they wish they were prolly!

 

[Guest]

Didnt look and wont. The ho bags on the right instantly shout kardashian trash. Has bruce still got his nads or has he gone full in so to speak ??

 

[Gypsy Nirvana]

*I guess we could call what this fella has been up to in cockney slang as - 'Av'in it Large' -

The self-titled "King of Instagram", Dan Bilzerian, now also appears to be the "King of Lighting Cash On Fire".

That's because Bilzerian's new pot company, Ignite International, looks like it's about to go up in smoke. The company torched $50 million in cash last year after raising $19.9 million in convertible debt and $23.7 million from a short term promissory note.

If the company winds up surviving, it may have to enter a toxic financing spiral that could decimate the company's shareholders further than they already have been.

The company sells all types of weed-related products and has been promoted heavily on Bilzerian's Instagram account, where he has over 31 million followers and frequently posts photos of himself with models in exotic locations.

Of the $50 million burned last year, $43 million was for expenses related to marketing and promotion, according to the NY Post. Much of that shareholder cash was spent throwing booze fueled parties at various global destinations with barely-dressed women.

Nearly all of Bilzerian's photographs on his Instagram portray a playboy-like lifestyle for the CEO. In fact, the company's annual marketing budget was more than double its annual sales revenue.

The company's shareholders appear to be footing the bill for Bilzerian's personal lifestyle - not only paying for his lavish parties but also paying him a salary in the process.

Bilzerian was also said to have lost out on a book deal last month because he was "too busy partying" to deliver the manuscript that was required by his publisher, Simon & Schuster.

His company, meanwhile, sells everything from vodka to THC vape pens to CBD oils. It began trading publicly in Canada in January 2019 and trades under BLIZF on the US OTC markets.

Its stock is down more than 70% over the last year and trades at just $0.66 in the US. Its 52-week high was $4.

It's a shame no one ever told Bilzerian that if you run an unprofitable company, some fancy A/R accounting and short dated out of the money call options can work wonders. Maybe he could turn his loss generating machine into the largest company in the world.

But until he learns those "secrets" of being a public company, he'll have to continue sticking it to his shareholders the old fashioned way: siphoning money out of the company while diluting retail bagholders whose "due diligence" is poring through Bilzerian's Instagram photos.

 

[Loc Dog]

They suck




Hey they have such a great scam going on in Fla that they do not even have to show thc/cbd levels at dispensaries! ( Hey this is, er, weed! Just buy it because the owners want to buy matching porches this year ( for both themselves and don't forget these are his and hers for the wives too! )


Not quite the type of lowlife scumbags that permeate the medical community but they wish they were prolly!

Off topic but how accurate are THC/CBD level tests??? They must pick the biggest and best bud from one plant. What are the chances of all of it being anywhere near that, even with cloned strains to limit phenotype differences, and even testing every plant. I have even heard some labs consistently come up with higher numbers than other labs.

 

[armedoldhippy]

I have even heard some labs consistently come up with higher numbers than other labs.

you get what you pay for...

 

[Loc Dog]

you get what you pay for...

Had heard of some testing 2 or 3% higher, and person that mentioned it thought they may be doing intentionally to get more business. This was from discussion years ago.