Bright Green Corporation has applied to be registered as an importer of basic class(es) of controlled substance(s). 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. 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. 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. He expressed his fear that his reputation would be at risk for knowingly telling investors that Bright Green had a valuation that was incorrect. 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. The only thing keeping the deal from being consummated was that Bright Green needed to deposit some escrow money. Granted they arent trading publicly, but they arent untested with regard to valuations. Second, federal approval for the specified scope of Bright Greens business may open pathways to future financial funding opportunities. Bright Green Corp. will undertake a $300 million investment in a state-of-the-art cannabis agricultural research and production facility on company-owned property in Grants, New Mexico. Not sure I can buy the story about continuing to work even though he wasnt paid. The systems of Bright Green operations are a meticulously ordered set of processes that involve the management of an enclosed greenhouse ecosystem. 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. Company remains on track to start cultivation by the end of the year. This valuation figure is a key element in the complaint from the former CEO John Fikany. Do Sirius XM Holdings Inc. (SIRI) beta value of 0.92 signposts another twist. https://www.greenmarketreport.com/bright-green-former-ceo-claims-valuation-fraud/. 2023 All rights reserved. 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. Bright Green is the type of enterprise that can help change the world for the better. Debra has a Master's degree in Business Journalism from New York University. The Bright Green Corporation is still in the process of building its massive growing operation in New Mexico. But thats also where Bright Green is unique among marijuana stocks. Without electricity, they couldnt pump water to fight the fire, and the Estancia greenhouse was destroyed. 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. CNMEC appealed the judgment and won giving Stockwell little more than his attorney fees. Although cannabis use is still illegal at the federal level for recreational use it is legal as medication and for research purposes. This is company is laughable. 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 . Theres two sides to every story but it doesnt look good. Acoma Pueblo Gov. However, a noteworthy positive is its balance sheet. Designed and Developed by Black Rock Digital Agency. In fact, the company only has net losses. John Stockwell supposedly has no official role in Bright Green, but he was featured in a photo (above) of a. in New Mexico in October 2021. All rights reserved. Under normal circumstances, good investment strategies often place a premium on provenance or an established track record for a business seeking capital funding. And finally, even if they follow through on all of their claims, which I doubt, the business model simply isnt viable. Raw Stochastic average of Bright Green Corporation in the period of last 50 days is set at 34.72%. Stockwell was responsible for hiring the advisors to determine the number, but Fikany said the valuation was misleading and aggressive. Bright Green Corporation is on a mission to promote health and wellness, 16. 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 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. 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's filing status is listed as Active and its File Number is 5992010. Required fields are marked *. Do ten minutes of research before you post junk like this. Robinson was the Chief Executive Officer of BMW Financial Services for the Americas Region from April 2005 to December 2016. 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. 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. They were present for the event that would launch a premier plant-based research facility. The company recently made business news when it went public on the Nasdaq stock exchange. Bright Green Corporation is a Fort Lauderdale, Florida-based operation. The team of six brings their years of expertise in their respective industries to the round table to develop the strategic planning for the Bright Green Corporation, and to lead it forward to fulfill its mission and vision. 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. Now, the immediate question that arises is this: what makes Bright Green different from all the other marijuana stocks available? 5 Undervalued Stocks For 2023 Our vision is to improve the quality of life across a broad demographic spectrum through the opportunities presented by medicinal applications of plant-based therapies, particularly cannabis and cannabis-derived products. CNMEC gave up and paid this judgment amount. 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 future is uncertain for many industries, and the cannabis category is no exception. The DEA also would not confirm it had a contract with Bright Green and wouldnt comment on the MOA. Company's stock value dipped to $0.4802 during the trading on the day. The company was incorporated in 2019 and is based in Fort Lauderdale, Florida. Bright Green Corporation is a vertically integrated cannabis company and multi-state operator in the US and internationally. The research complex is located in Grants, New Mexico, although the headquarters for Bright Green is in Fort Lauderdale, Florida. 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 . Full-powered cannabis itself remains very much illegal federally. Supplying the electric vehicle boom and potentially driving its stock price off the charts. 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. Bright Green broke ground on its cannabis research complex in 2021, 11. 4 min read. Theyll have to make another offering that dilutes the crap out of the shares. For the retail investor, BGXX stock provides an interesting risk-reward profile. 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. 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). 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. 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. If you want to participate in Bright Greens growth, youll need to know how to buy stocks. The Company is engaged in cannabis propagation, cultivation, and manufacturing of . Bright Greens current CEO is Edward Robinson. Typically in groundbreaking ceremonies, only top executives or board members take the stage. The team at Bright Green Corporation is experienced and vetted in their areas of expertise. 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. At the time of this writing, the total market value of the company is set at 76.68M. 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. 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. Bright Green has an understanding with the Drug Enforcement Administration, 12. 1033 George Hanosh BoulevardGrants, NM 87020United States833 658 1799https://www.brightgreen.us. The board of directors at Bright Green Corporation has six members. 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. As a direct listing, pricing data for BGXX stock wont be available until the free market determines what it will be. Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox. 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. Bright Green develops uniqueness within the plant architecture with homogenous cannabinoid expression and powdery mildew tolerance. Benzinga suggests some reasons to consider Bright Green Corporation stock as an addition to your current investment portfolio. 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