If you’ve been trading potstocks as long as we have you likely have seen it all when it comes to companies engaging their shareholders. I thought that I have seen it all, that was until we started getting flooded with questions about the Namaste Technologies “Pledge.” It boils down to the company getting shareholders to make a pledge to not sell their stock for 90 days even as a recent bought deal becomes free trading. As you know, perception creates reality when it comes to Marijuana Stocks and we’d be lying if we said that the perception of “the pledge” for Namaste was good. So in an effort to get some feedback we emailed Sean Dollinger one of the founders of the company for some lighthearted clarity via email who contends that “most of the info out their is wrong.”
1) What type of Beer will be served at this party and will it be bottles or kegs? How high end are we talking?
Tell everyone not to worry we will be making money off the party due to our amazing sponsors
2) Will there be entertainment or gift bags provided & is Namaste the sole sponsor?
No we will be having our partners doing a lot
3) Does Sean get to go to the party since he scalped the stock for a 10% gain in a two week hold?
Sean has never sold a single share so do you mean Sefi? Sefi has 850 000 shares and has pledged not to sell a single one so why should he not be treated as everyone else?
4) Are the people that did the bought deal that becomes free trading during this pledge plan on taking the pledge themselves? Are they being asked to take the pledge?
Not sure what you are talking about there is no stock on hold. The bought deal was freely trading the day it closed.
5) Who conceptualized this idea and what (besides a party) is the benefit of holding the stock for 3 months?
It was myself who came up with the idea. I pledged my 20M shars I would not sell to show everyone I believe in the company. I need to report anytime I sell by me making this statement it shows everyone I believe and if I were to sell people would see it everywhere. I asked who ever wanted to join to volunteer do it. We had over 120M shares pledged.
6) Last question & this one is really most important: can a company legally ask its shareholders to hold stock as insiders sell (Sean)& while a placement becomes free trading?
6a) Has IIROC/SEC/Finra signed off on “The Pledge” thanks in advance guys…
Again this question shows that people do not understand. No shares are on hold. Anyone can do what ever they want they can sell if they chose. There is no one stopping anyone from doing anything. Gowlings one of the largest law firms in Canada has OK’d what we are doing there is nothing against the law. If someone thinks otherwise let them explain. This is up to the individual they are not signing anything.
So there you have it and I suggest shareholders ask the company via email any follow up questions. Lastly, I would have one piece of commentary to add that is universal for all public companies which is this: The fundamentals of a business & the performance of a stock in the capital markets are not always binary. You can love the products and sales could be amazing, but that doesn’t always translate into increased share price and vice versa. Don’t be a Hodler if perception changes as this isn’t a marriage, but a bit of dating.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
