There is some paper being digested down here, Complicated story but its almost done Earnings coming tomorrow I believe, and lots of good stuff coming . This is the bottom, Im pretty confident . Volume has dried up The next push is higher
This is the POT ETF, which aslo has been under pressure and causing buyers to be patient
This is the POT ETF, which aslo has been under pressure and causing buyers to be patient
There is some paper being digested down here, Complicated story but its almost done Earnings coming tomorrow I believe, and lots of good stuff coming . This is the bottom, Im pretty confident . Volume has dried up The next push is higher
This is the POT ETF, which aslo has been under pressure and causing buyers to be patient
Thanks brucefan!
NP
Bottom call a little more obvious when look at a 1 year chart of price. The stock has a had two false starts on anticipation of great things happening fundamentally. The fundamentals now have now " caught up ", and will be able to support higher prices Note the higher volume on the moves up . Buying for a young company not on a listed exchange is not consistent enough sometimes to hold, and the stock drifts down on lighter volume when no buyers are around and the market lacks liquidity
Solis Tek Inc. Announces Full Year 2017 Financial Results
MarketwiredApril 2, 2018
CARSON, CA--(Marketwired - April 02, 2018) - Solis Tek Inc. (SLTK), a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in legal markets across the U.S., today reported financial results for the year ended December 31, 2017.
Fiscal Year 2017 Highlights
Mr. Lien continued, "Throughout 2017, we completed much of the foundation work to establish our nutrient vertical, including completing development of our Terpenez essential oil intensifier, which we expect will start generating increasing revenues in 2018. We are confident that we have the right management team in place to execute on our growth strategy and look forward to further expanding the breadth of our vertical markets across the global cannabis industry supply chain. Solis Tek is focused on maintaining healthy inventory levels of key products, while leveraging its deep industry network to identify new opportunities, such as our March 2018 exclusive agreement under which Solis Tek will distribute Torus Hydro's pH stabilizer that automatically balances the pH of a hydroponic nutrient feed. We believe that such new partnerships will support continued revenue growth in 2018 and beyond."
Financial Results for the Year Ended December 31, 2017
For the full year 2017, revenues were $8.98 million, representing a 5% increase over the same period in 2016. These increases were driven by increased market penetration among hydroponic customers and commercial facilities. Cost of revenues increased 7% over 2016, resulting in a gross margin of 35%, compared with 36.4% in 2016.
Selling, general, and administrative expenses were $11.8 million in 2017, up from $3.17 million in 2016, due primarily to stock-based compensation expense of $6.3 million and, to a lesser extent, increased payroll, professional fees, consulting, marketing and other expenses to support our current business objectives.
Research and development expenses in 2017 were $231,700 compared with $370,625 in 2016, representing a decline of 37%, attributable to the timing and scope of R&D projects during the period.
Other net expenses for 2017 were $5.12 million, compared with $117,293 in 2016. The increase was largely attributable to the recording of financing costs and the change in fair value of derivative liability, which did not apply to the 2016 period.
Net loss for the year ended December 31, 2017 was ($14.0) million, or ($0.38) per share, compared with a net loss of ($538,710), or ($0.02) per share for the same period in 2016, as higher gross profit was more than offset by increases in operating expenses and other expenses, mostly from higher stock-based compensation expense, financing costs and changes in fair value of derivative liability.
As of December 31, 2017, the Company had $968,000 in cash, compared with $276,000 at December 31, 2016. The increase was due to financing activity completed in November 2017, which raised $2.5 million, of which $1.64 million came through a secured convertible debenture with a single institutional investor.
To be added to the Solis Tek email distribution list, please email SLTK@kcsa.com with 'SLTK' in the subject line.
About Solis Tek
Solis Tek is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information, please visit our website, www.solis-tek.com.
https://finance.yahoo.com/news/solis-tek-inc-announces-full-140449015.html
MarketwiredApril 2, 2018
CARSON, CA--(Marketwired - April 02, 2018) - Solis Tek Inc. (SLTK), a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in legal markets across the U.S., today reported financial results for the year ended December 31, 2017.
Fiscal Year 2017 Highlights
- Revenues of $8.98 million; up 5% over 2016
- Gross profit of $3.15 million; consistent with 2016
- Successfully launched proprietary Digital Lighting Controller from internal R&D engine
- Digital Lighting solution validated as highest in terms of overall efficiency and value for cultivators by independent third-party research
- Launched its Zelda Horticulture Nutrient Line, which uses natural ingredients to help growers increase yield, lower costs and ultimately grow healthier plants
- Raised $2.5 million in new capital to support supply chain fulfillment and nutrient line automation
- Alan Lien appointed Chief Executive Officer
- Tiffany Davis appointed Chief Operating Officer
- Formed cooperative agreement to become Medicine Man Technologies, a leading cannabis cultivation consultant in the USA, recommended supplier of High Intensity Discharge (HID) lighting technologies
- Signed exclusive agreement to distribute Torus Hydro's pH stabilizer to Solis Tek's hydroponic customers
Mr. Lien continued, "Throughout 2017, we completed much of the foundation work to establish our nutrient vertical, including completing development of our Terpenez essential oil intensifier, which we expect will start generating increasing revenues in 2018. We are confident that we have the right management team in place to execute on our growth strategy and look forward to further expanding the breadth of our vertical markets across the global cannabis industry supply chain. Solis Tek is focused on maintaining healthy inventory levels of key products, while leveraging its deep industry network to identify new opportunities, such as our March 2018 exclusive agreement under which Solis Tek will distribute Torus Hydro's pH stabilizer that automatically balances the pH of a hydroponic nutrient feed. We believe that such new partnerships will support continued revenue growth in 2018 and beyond."
Financial Results for the Year Ended December 31, 2017
For the full year 2017, revenues were $8.98 million, representing a 5% increase over the same period in 2016. These increases were driven by increased market penetration among hydroponic customers and commercial facilities. Cost of revenues increased 7% over 2016, resulting in a gross margin of 35%, compared with 36.4% in 2016.
Selling, general, and administrative expenses were $11.8 million in 2017, up from $3.17 million in 2016, due primarily to stock-based compensation expense of $6.3 million and, to a lesser extent, increased payroll, professional fees, consulting, marketing and other expenses to support our current business objectives.
Research and development expenses in 2017 were $231,700 compared with $370,625 in 2016, representing a decline of 37%, attributable to the timing and scope of R&D projects during the period.
Other net expenses for 2017 were $5.12 million, compared with $117,293 in 2016. The increase was largely attributable to the recording of financing costs and the change in fair value of derivative liability, which did not apply to the 2016 period.
Net loss for the year ended December 31, 2017 was ($14.0) million, or ($0.38) per share, compared with a net loss of ($538,710), or ($0.02) per share for the same period in 2016, as higher gross profit was more than offset by increases in operating expenses and other expenses, mostly from higher stock-based compensation expense, financing costs and changes in fair value of derivative liability.
As of December 31, 2017, the Company had $968,000 in cash, compared with $276,000 at December 31, 2016. The increase was due to financing activity completed in November 2017, which raised $2.5 million, of which $1.64 million came through a secured convertible debenture with a single institutional investor.
To be added to the Solis Tek email distribution list, please email SLTK@kcsa.com with 'SLTK' in the subject line.
About Solis Tek
Solis Tek is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information, please visit our website, www.solis-tek.com.
https://finance.yahoo.com/news/solis-tek-inc-announces-full-140449015.html
Yes, I agree.
SLTK Had a nice pop after the numbers but there was were still sellers around . The company is all cashed up, has a nice LOC, they would like to use for acquisitions they are evaluating now . I would expect news shortly and a push on the stock as these deals get close . Technically , over 1.40 would trigger the all clear and get us running again
been looking for a re-entry into hmmj, havne't pulled the trigger
hmmj (cdn marijuana etf)
i got out during the stupid vertical ascent in Dec (no where near the high, lol). Obviously ,15 ish is huge hold level, nice hammer two days ago. Forming lower highs and lower lows since mid dec. 50 SMA is above the 200 SMA (posted), good. Love the sector, esp Canopy.....keep in mind this most recent down leg from 19 to 15 has been on no news, lol. Quite the volatile sector
gl
hmmj (cdn marijuana etf)
i got out during the stupid vertical ascent in Dec (no where near the high, lol). Obviously ,15 ish is huge hold level, nice hammer two days ago. Forming lower highs and lower lows since mid dec. 50 SMA is above the 200 SMA (posted), good. Love the sector, esp Canopy.....keep in mind this most recent down leg from 19 to 15 has been on no news, lol. Quite the volatile sector
gl
Positive piece on pot stocks on fast money today. Said its a very young industry with big money potential and that major players are involved not simply some fly by night companies operating in basements. Real industry for the future. Said alcohol companies should take notice cuz will cut into their bottom lines. Who knows where the bottom is but industry isn't going away. Wouldn't be surprised to see some m and a here from potentially healthcare, tobacco, agriculture, adult beverage companies
Ive been doing well selling high and buying back low. I just hope it doesnt go through the roof for good after I sell. Any advice on price points to buy and sell? Where are you seeing resistance? Lets open discussion and make some money if any of you day trade this stock. I would pick a guy that is a sports gambler and plays the market over a market advisor any day.
$SLTK Solis Tek Issues Shareholder Update Letter
https://www.otcdynamics.com/sltk-so...twitter&utm_medium=twitter&utm_source=twitter
Tags: SLTK, SLTK News, Solis Tek Inc., Solis Tek Inc. News[/COLOR]
Shifting Business Model to Take Advantage of Cannabis Opportunities Within Legalized Jurisdictions
CARSON, CA, April 24, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc. (OTCQB: SLTK), a vertically integrated cannabis technology innovator, manufacturer and distributor, today announced the issuance of the following shareholder letter from its Chief Executive Officer, Alan Lien:
Dear Solis Tek family, partners and shareholders,
We would like to thank you for your interest and support as we are proud of our achievements to-date, having grown to a $9 million revenue business in 2017. While we remain enthused about our current business lines in lighting and nutrients for cannabis cultivation, we are exploring many exciting new opportunities to participate in the expanding legalized cannabis industry.
The legalized cannabis industry continues to evolve rapidly, especially in the United States. Currently, 29U.S. states (plus D.C.) are legal for medical use and nineU.S. states are legal for adult recreational-use. Sentiment is driving demand as cannabis prohibition is waning at both the Federal and State level. According to Gallup polls as of October 2017, 64%of Americans support full cannabis legalization. According to CBS News polls as of April 2017, 61%of Americans favor legalization of cannabis in one form or another and 88%favor medical use.
Our award winning digital lighting and nutrient products, introduced in 2010 to the fast-growing cannabis industry, will continue to enable cannabis growers to increase yield, lower costs and maximize their return on investment. As we expand our network of relationships in the cannabis industry, we have come across many new opportunities for possible corporate expansion.
Our Board and management team are extremely excited about these new opportunities and are determined to broaden the Company’s participation in the cannabis industry. Accordingly, we will be transitioning from being purely a service and product provider to exploring new opportunities across all cannabis market segments.
These opportunities are in varying sectors of the cannabis industry and we believe they will offer significant revenue growth at higher margins and sustainable profitability. While we have been presented with many potential opportunities over time, some plans have advanced quickly, and we expect to make further announcements in the coming days and weeks.
We feel this is the right time to transition our Company and strategy because we see an evolving and more beneficial cannabis environment with opportunities to accelerate our growth with our sights on profitability and building long-term shareholder value.
Sincerely,
Alan Lien
Chief Executive Officer
About Solis Tek, Inc.
Solis Tek, Inc. (OTCQB: SLTK) is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information, please visit our website, www.solis-tek.com.
Solis Tek to Acquire Arizona Operator and Management Services Agreement
GlobeNewswire•April 26, 2018
Plans for Development, Operation and Management of State-of-the-Art Cultivation and Processing Facility on Behalf of Arizona Licensee
CARSON, CA, April 26, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc, a Nevada corporation, (“SLTK”), a vertically integrated cannabis technology innovator, manufacturer and distributor, announced today its execution of a letter of intent to wholly acquire a limited liability company (“Arizona Operator”), providing turn-key services related to the management, administration and operation of a licensed medical marijuana cultivation and processing facility in the State of Arizona.
In December 2010, Arizona voters passed the Arizona Medical Marijuana Act, A.R.S. §36-2801 et seq.(the “Act”), which became effective on April 14, 2011, at the time, making Arizona the fourteenth state to pass medical marijuana legislation. As of March 31, 2018, Arizona had 162,528 active Qualifying Patient Registry Card holders, a 31% increase from the year before. Additionally, in March, Arizona dispensaries transacted for more than 9,534 pounds of medical marijuana, boasting a 44% increase from the year before.
Arizona Operator entered into an exclusive Management Services Agreement with an Arizona nonprofit organization (“Arizona Licensee”), that was awarded a Medical Marijuana Dispensary Registration Certificate (“License”) by the Arizona Department of Health Services (“AZDHS”), pursuant to the Arizona Department of Health Services Medical Marijuana Program. The License allows for the operation of an offsite cultivation and processing facility, to which the Arizona Operator has obtained the exclusive right to acquire, develop, manage and operate in conjunction with the Arizona Licensee, in exchange for certain management fees. The acquisition of the Arizona Operator is in keeping with SLTK’s previously announced decision to take advantage of opportunities in the cannabis industry.
In anticipation of this acquisition, SLTK has executed an Option Agreement for the right to enter into a long-term lease agreement with a local land owner, for the lease, use and occupancy of an expansive facility comprised of more than 70,000 square feet, which will be developed into one of the most technologically advanced cultivation and processing facilities in the State of Arizona.
“We are thrilled to be able to execute on this opportunity in Arizona as SLTK’s first “touch-the-plant” operation. Arizona has witnessed continued growth in its medical marijuana program and demand remains strong. We are excited to commence Phase 1 of the development and construction of our state-of-the-art cultivation and processing facility and look forward to many additional opportunities in the cannabis industry,” stated Alan Lien, SLTK, Chief Executive Officer.
About Solis Tek, Inc.
SLTK is a vertically integrated cannabis technology innovator, developer, manufacturer and distributor focused on developing and providing high quality products and solutions to commercial cannabis operators in both medicinal and adult use markets across the United States. For nearly a decade, cultivators have depended on SLTK’s lighting solutions to increase yield, lower costs and produce higher-quality products, maximizing returns on investment and solidifying their position in the legal cannabis industry. SLTK’s client base includes retail dispensaries, processors, distributors and commercial cultivators throughout the United States and abroad. For more information, please visit our website, www.solis-tek.com.
GlobeNewswire•April 26, 2018
Plans for Development, Operation and Management of State-of-the-Art Cultivation and Processing Facility on Behalf of Arizona Licensee
CARSON, CA, April 26, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc, a Nevada corporation, (“SLTK”), a vertically integrated cannabis technology innovator, manufacturer and distributor, announced today its execution of a letter of intent to wholly acquire a limited liability company (“Arizona Operator”), providing turn-key services related to the management, administration and operation of a licensed medical marijuana cultivation and processing facility in the State of Arizona.
In December 2010, Arizona voters passed the Arizona Medical Marijuana Act, A.R.S. §36-2801 et seq.(the “Act”), which became effective on April 14, 2011, at the time, making Arizona the fourteenth state to pass medical marijuana legislation. As of March 31, 2018, Arizona had 162,528 active Qualifying Patient Registry Card holders, a 31% increase from the year before. Additionally, in March, Arizona dispensaries transacted for more than 9,534 pounds of medical marijuana, boasting a 44% increase from the year before.
Arizona Operator entered into an exclusive Management Services Agreement with an Arizona nonprofit organization (“Arizona Licensee”), that was awarded a Medical Marijuana Dispensary Registration Certificate (“License”) by the Arizona Department of Health Services (“AZDHS”), pursuant to the Arizona Department of Health Services Medical Marijuana Program. The License allows for the operation of an offsite cultivation and processing facility, to which the Arizona Operator has obtained the exclusive right to acquire, develop, manage and operate in conjunction with the Arizona Licensee, in exchange for certain management fees. The acquisition of the Arizona Operator is in keeping with SLTK’s previously announced decision to take advantage of opportunities in the cannabis industry.
In anticipation of this acquisition, SLTK has executed an Option Agreement for the right to enter into a long-term lease agreement with a local land owner, for the lease, use and occupancy of an expansive facility comprised of more than 70,000 square feet, which will be developed into one of the most technologically advanced cultivation and processing facilities in the State of Arizona.
“We are thrilled to be able to execute on this opportunity in Arizona as SLTK’s first “touch-the-plant” operation. Arizona has witnessed continued growth in its medical marijuana program and demand remains strong. We are excited to commence Phase 1 of the development and construction of our state-of-the-art cultivation and processing facility and look forward to many additional opportunities in the cannabis industry,” stated Alan Lien, SLTK, Chief Executive Officer.
About Solis Tek, Inc.
SLTK is a vertically integrated cannabis technology innovator, developer, manufacturer and distributor focused on developing and providing high quality products and solutions to commercial cannabis operators in both medicinal and adult use markets across the United States. For nearly a decade, cultivators have depended on SLTK’s lighting solutions to increase yield, lower costs and produce higher-quality products, maximizing returns on investment and solidifying their position in the legal cannabis industry. SLTK’s client base includes retail dispensaries, processors, distributors and commercial cultivators throughout the United States and abroad. For more information, please visit our website, www.solis-tek.com.
Solis Tek Receives Long Term Financial Commitment and Converts Debentures and Series A Preferred
GlobeNewswire•April 30, 2018 Provides Access to Capital to Explore New Opportunities to Accelerate Growth in CannabisCARSON, CA, April 30, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc. (OTCQB: SLTK), a vertically integrated cannabis technology innovator, manufacturer and distributor, is pleased to receive financial and commitment from existing shareholder, YA II PN, Ltd., managed by Yorkville Advisors Global, LP.
On April 16, 2018, SLTK and YA II PN entered into a $25 million Standby Equity Distribution Agreement (SEDA), pursuant to whichYA II PNhas committed to provide up to $25 million of equity capital over the next three years, if and when drawn by SLTK at SLTK’s discretion. SLTK will be able to access the SEDA in increments of up to $1.0 million each after SLTK registers the resale of the common shares to be issued with the U.S. Securities & Exchange Commission. SLTK can draw on YA II PN's commitment from time-to-time, and SLTK can terminate the agreement at any time without the payment of any additional fees.
On April 18, 2018, YA II PN elected to convert all remaining outstanding principal and interest accrued and otherwise payable under its outstanding Secured Debenture, which included in total the conversion of $1,500,000 of principal and $4,041 of interest. Upon the Conversion of the Debenture, SLTK issued an aggregate of 1,504,041 shares of its Common Stock to YA II PN.
On April 24, 2018 the Company received a Notice of Conversion from the Holder of all outstanding Series A Convertible Preferred Stock (the “Series A”) in which the Holder converted all remaining Series A to common shares in the Company leaving no remaining Series A outstanding.Upon the conversion the Series A, the Company issued 52,500 shares of common stock. There are no Series A outstanding.
Solis Tek Chief Executive Officer, Alan Lien, commented, “We are gratified that Yorkville Advisors Global has shown continuing trust in SLTK in sharing a vision for the tremendous growth opportunities in the cannabis industry. We look forward to working together and creating value for our shareholders.”
About Solis Tek, Inc.
Solis Tek, Inc. (OTCQB: SLTK) is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad.
For more information, please visit our website, www.solis-tek.com.
GlobeNewswire•April 30, 2018 Provides Access to Capital to Explore New Opportunities to Accelerate Growth in CannabisCARSON, CA, April 30, 2018 (GLOBE NEWSWIRE) -- Solis Tek, Inc. (OTCQB: SLTK), a vertically integrated cannabis technology innovator, manufacturer and distributor, is pleased to receive financial and commitment from existing shareholder, YA II PN, Ltd., managed by Yorkville Advisors Global, LP.
On April 16, 2018, SLTK and YA II PN entered into a $25 million Standby Equity Distribution Agreement (SEDA), pursuant to whichYA II PNhas committed to provide up to $25 million of equity capital over the next three years, if and when drawn by SLTK at SLTK’s discretion. SLTK will be able to access the SEDA in increments of up to $1.0 million each after SLTK registers the resale of the common shares to be issued with the U.S. Securities & Exchange Commission. SLTK can draw on YA II PN's commitment from time-to-time, and SLTK can terminate the agreement at any time without the payment of any additional fees.
On April 18, 2018, YA II PN elected to convert all remaining outstanding principal and interest accrued and otherwise payable under its outstanding Secured Debenture, which included in total the conversion of $1,500,000 of principal and $4,041 of interest. Upon the Conversion of the Debenture, SLTK issued an aggregate of 1,504,041 shares of its Common Stock to YA II PN.
On April 24, 2018 the Company received a Notice of Conversion from the Holder of all outstanding Series A Convertible Preferred Stock (the “Series A”) in which the Holder converted all remaining Series A to common shares in the Company leaving no remaining Series A outstanding.Upon the conversion the Series A, the Company issued 52,500 shares of common stock. There are no Series A outstanding.
Solis Tek Chief Executive Officer, Alan Lien, commented, “We are gratified that Yorkville Advisors Global has shown continuing trust in SLTK in sharing a vision for the tremendous growth opportunities in the cannabis industry. We look forward to working together and creating value for our shareholders.”
About Solis Tek, Inc.
Solis Tek, Inc. (OTCQB: SLTK) is a vertically integrated technology innovator, developer, manufacturer and distributor focused on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad.
For more information, please visit our website, www.solis-tek.com.
