Bright Green is pulling out all the stops and going for perfection in its quest to deliver the highest possible quality of tissue samples for research. Logically, then, a DPOs valuation is tied directly to free market forces, which could offer a favorable outcome for the listing company. John Stockwell supposedly has no official role in Bright Green, but he was featured in a photo (above) of a groundbreaking ceremony in New Mexico in October 2021. GRANTS, N.M., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation (Nasdaq: BGXX) ("Bright Green" or "the Company . A direct listing does not involve an underwriter. It has these things going for it, but Bright Green faces an uncertain future, as do all companies involved in the cannabis industry. Still, reputational damage presents a headwind for marijuana stocks, thereby forcing investors to take a cautious approach. Most companies clean up lawsuits before going public so that investors wont see the dirty laundry. January 17, 2023, 13:30 GMT. 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 minimum target price for Bright Green analysts is $ None. 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 . The idea is that investors should have adequate information in order to make a wise investment decision. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. This valuation figure is a key element in the complaint from the former CEO John Fikany. The Bright Green Corporation is still in the process of building its massive growing operation in New Mexico. 4 min read. Debra Borchardt June 2, 2022 19 min 6. Recent examples of direct listings include Coinbase (COIN) and Spotify (SPOT).. Bright Green Corporation. They were present for the event that would launch a premier plant-based research facility. Lynn Stockwell is a founder and director. Year-to-date Price performance of the companys stock appears to be encouraging, given the fact the metric is recording -98.20%. 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. A high-level overview of Bright Green Corporation (BGXX) stock. Through strict oversight, BrightGreen helps to enhance the consistency of harvest and purity of the product. At the end of the latest market close, Bright Green Corporation (BGXX) was valued at $0.38. The direct listing raises NO MONEY for the company itself. The facility in Grants, New Mexico is supposed to be A two-acre Fast Start University Greenhouse to begin housing our cannabis research, development, cultivation, and manufacturing operations. Bright Green also stated in its filing that its existing 22-acre Venlo greenhouse is currently under renovation to be operational in May 2022 and provide the initial supply of marijuana and marijuana extracts. According to the, No additional shares are offered to the public, which reduces scrutiny. Get Bright Green Corp (BGXX)'s stock analysis, price valuation, corporate actions, and financials from India's independent mutual fund research house. Bright Green operates a superior genetics breeding program, 5. This is also the second groundbreaking ceremony. Therefore, it might be better for a company like Bright Green to negotiate ahead of time with underwriters via a traditional IPO. The Company has also recently executed a Letter of Intent with Alterola Biotech Inc. (OTC PINK: ABTI), a U.K.-based pharmaceutical company focused on developing cannabinoid and cannabinoid-like medicines and products, for the supply of cannabinoid Botanical Raw Material (BRM) and Active Pharmaceutical Ingredients (APIs) in preparation for the release of appropriate product, which also further enhances the relationship between the Company and Alterola as previously announced. 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. Bright Green Corporation employs experts in cultivation, 6. First, Bright Greens federal pathway is enormous. Stockwell was responsible for hiring the advisors to determine the number, but Fikany said the valuation was misleading and aggressive. With the $65.9 billion market estimate, sizable profits are possible. BRIGHT GREEN CANNABIS, INC. To be fair, landmark legislation, such as the Agriculture Improvement Act of 2018 (colloquially known as the farm bill) made certain cannabis derivatives such as the hemp-derived cannabidiol (CBD) legal in the U.S. Bright Green Corporation Our Mission. It doesnt matter which supermarket you go to or where you are, Read More 20 Things You Didnt Know about Project44Continue, Most people are well aware of Fingerhut. 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.. The project is expected to initially create 200 research and agricultural jobs. Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox. Bright Green Corporation provides superior products for research teams, 4. The Motley Fool confirms that the Bright Green Corporation filed for its initial public offering and went public in May of 2022. Bright Green Corporation. 1. Bright Green Corporation is the most advanced greenhouse ecosystem, 14. Bright Green Corporation focuses on the propagation, cultivation, and manufacturing of cannabis products. He is no longer listed as having a role in the company. The stock shot up almost immediately to $58 and has since sold off and was lately selling at $3.54. How big do you think that market is? Bright Green states in its prospectus, "In May 2021, we entered into the MOA with the DEA, which outlines the terms of the DEA's conditional approval of Bright Green to proceed through the DEA's registration process, as described above. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. 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 . These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management as of such date. Bright Green Corporation is a New Mexico Foreign Profit Corporation filed on October 30, 2020. While consumers of pure cannabis products are wholly dependent on their individual state laws, Bright Green is a first mover in the federally licensed cannabis market. The enterprise maintains its commitment to engaging in sustainable manufacturing processes and giving back to the earth. The Company anticipates that subsequent events and developments will cause its views to change. 24. They have no conscience when it comes to stealing other peoples money from friends and/or relatives. Bright Green in its statement suggests that Fikany was hired to complete the Acoma Pueblo deal, which ultimately never closed. The team at Bright Green Corporation is experienced and vetted in their areas of expertise. 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. However, from time to time, the market can act irrationally. BRIGHT GREEN CORPORATION Company Number 6763218 Incorporation Date 20 February 2018 (almost 5 years ago) Company Type Corporation Jurisdiction Delaware (US) Previous Names. Bright Green Corporation is a drug manufacturers-specialty & generic business based in the US. 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. He is also the chief executive officer of the corporation. Bright Green (BGXX 4.96%), was quite the outlier on . Acquisition will support Bright Green's ability . About Bright GreenBright Green is one of the very few companies selected by the US government to grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export. The answer comes down to legality. The medical marijuana market will explode over the next seven years. June 28, 2022 08:00 ET | Source: Bright Green Corporation. The companys shares, operating in the sector of Healthcare managed to top a trading volume set approximately around 502014 for the day, which was evidently lower, when compared to the average daily volumes of the shares. The company is still in the startup phase and will be there for some time, but it is a business with bright prospects. 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 . 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. In this case, Bright Green plowed ahead. January 17, 2023 - 8:30 am. Our conditional approval based on already agreed terms from the U.S. Drug Enforcement Administration gives us the opportunity to advance our vision of improving quality of life through the opportunities presented by cannabis-derived therapies. Total Debt to Equity Ratio (D/E) can also provide valuable insight into the companys financial health and market status. 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. Fikany says he was concerned about the false and misleading nature of Stockwells valuation report asking, How is it possible that we continue to radically increase our valuation from $1.5 billion to 2.5 to 4.0 to 6.5? According to the complaint, Fikany became worried his name would be attached to the companys valuation statement, which he believed was false and inaccurate. The cannabis plant breeding program of the Bright Green Corporation stands out from similar companies. It doesnt exist. Why on earth would a company with $300m plans and only 650k in cash go public in a way that doesnt raise any capital??????? The company recently made business news when it went public on the Nasdaq stock exchange. This valuation figure is a key element in the complaint from the former CEO John Fikany. Santa Fe, N.M. -- Rural New Mexico will soon be the home to one of the nation's largest cannabis manufacturing and research facilities, New Mexico Gov. 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. The Bright Green Corporation is credited for developing one of the most advanced greenhouse systems for agriculture that the world has known. Click here to download your Free Copy. Bright Green reaches several key milestones, advancing progress against its strategic plan. Bright Green Corporation also sponsors a National Forests project with the commitment to plant 5,000 trees in a year. Bright Green is leveraging automation and technologically driven research & development to cultivate pharmaceutical-grade plants, including medical cannabis and marihuana, delivering consistent quality in a state-of-the-art, environmentally controlled, organic ecosystem. The shares increased approximately by 12.89% in the 7-day charts and went up by -19.91% in the period of the last 30 days. At some point during these years, it seems the Sunnyland greenhouses were transferred to Lynn Stockwell who then transferred the property to Bright Green. EF Hutton served as the financial advisor. Globe-News Wire confirms that the Bright Green Corporation is a new company. Benzinga suggests some reasons to consider Bright Green Corporation stock as an addition to your current investment portfolio. I am also pleased with the Bright Green teams progress and as a result the Company will move forward with building revenue and creating a significant future for our stakeholders. 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. Company owes more that $400,000 in unpaid principal and interest. We thank the DEA for their support and their continuous visits to our state-of-the-art agricultural and schedule 1 manufacturing complex in Grants, said Terry Rafih, Chief Executive Officer and Chairman of the Board of Bright Green. Even worse, the Central New Mexico Electric Cooperative (CNMEC) had shut off the electricity at the greenhouse. Bright Green Corporations ISS Governance QualityScore as of N/A is N/A. In that particular session, Stock kicked-off at the price of $0.40 while reaching the peak value of $0.472 and lowest value recorded on the day was $0.385. As a direct listing, pricing data for BGXX stock wont be available until the free market determines what it will be. He expressed his fear that his reputation would be at risk for knowingly telling investors that Bright Green had a valuation that was incorrect. Therefore, if none of these entities want to sell their shares, a transaction will not occur. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. The operating expenses were $2.5 million for 2021, yet the business had a cash balance of $1.3 million. Moreover, the reputation for marijuana stocks as an investment class is poor. Lucky for Bright Green it clearly states in its S-1, Because of our novel listing process on the Nasdaq Capital Market, Nasdaqs rules for ensuring compliance with its initial listing standards, such as those requiring a valuation or other compelling evidence of value, are untested. It stands the best chance of making the emergence of the cannabis industry into the public market a successful venture, but only time will tell. "This quarter, Bright Green reached . I am also pleased with the Bright Green teams progress and as a result the Company will move forward with building revenue and creating a significant future for our stakeholders. 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). 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. 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. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders equity. In July 2019, the company issued a letter to investors with the alleged inflated valuation over Fikanys opposition. 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. Because of the vagaries between federal controls and certain states acquiescence, many financial institutions want nothing to do with cannabis-related enterprises. It focuses on the research and development of cannabis strains and sales of products with cannabinol (CBN) and cannabigerol (CBG). Bright Green has a six-member board of directors, 10. 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. Especially under present economic difficulties, cannabis businesses make sense because of their potential as a taxable revenue source. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. Crain Communications Inc 2017 document.write(new Date().getFullYear());. Bright Green and Alterola share the vision of creating FDA and other regulatory-approved medicines which will deliver therapeutic benefits to patients for specific conditions and producing high quality BRM and APIs. The NASDAQ seems to be playing along even though it also doesnt seem to have vetted the companys valuation claims. Bright Green Corporation is a Fort Lauderdale, Florida-based operation, 2. Designed and Developed by Black Rock Digital Agency. Does that make sense to you? Bright Green Corp. engages in the cultivation, manufacture, and sale of medical cannabis. The Bright Green Corp. is just another scam to spend other unsuspecting people. Its products cannot be sold directly to consumers, but there are plenty of research facilities that will gladly become regular customers. He is no longer listed as having a role in the company. Its a pump and dump. What kind of propaganda is this? Today 200 Day Moving Average is the resistance level (2.146 $). 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. Acoma Pueblo Gov. In the case of Bright Green, the company states that no director or executive officer has filed for bankruptcy. Not one single plant has been grown. Therefore, established market analysts have not yet weighed in on Bright Greens potential and risk factors. Not big enough to recoup a 300m investment, thats for sure. GRANTS, N.M., March 29, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation ("Bright Green"), one of the very few companies selected by the US government to grow, manufacture, and sell, legally . The Company anticipates that subsequent events and developments will cause its views to change. They issued millions of shares to themselves at one penny and have mostly cashed out already. It has grown to become the largest of its kind in the world. According to the court document Fikany claims that Stockwell almost torpedoed the deal, but he was able to save it. Ha Az sszes elfogadsa gombra kattint, azzal elfogadja, hogy a Yahoo s partnerei feldolgozzk az n szemlyes adatait, s klnbz technolgikat pldul cookie-kat hasznlnak szemlyre szabott hirdetsek s tartalom megjelentshez, a hirdetsekkel s tartalmakkal kapcsolatos mrsekhez, a clkznsgre vonatkoz elemzsekhez s a termkfejlesztshez. The enterprise produces its cannabis crop through a system of tissue culture propagation. Look it up. 23. Michigan-based Fikany is an accomplished executive who was once Vice President, North America sales strategy for Oracle, Vice President at Microsoft, and Vice President at Quicken Loans. The excitement was short-lived, as the stock crashed back down to Earth. It is a new era in pharmaceuticals with an emphasis on research in plant-based therapies, with implications that go far beyond the cannabis niche. The Bright Green Corporation shares its vision for creating a healthier planet inhabited by healthy people. The Bright Green Corporation sets the example of innovation in greenhouse growth through its optimization of plant growth. Bright Green Corporations ISS Governance QualityScore as of N/A is N/A. In fact, the company only has net losses. Bright Green is making fantastic progress, and 2023 promises to be a very exciting year as Bright Green and Alterola hope to come together following the completion of Bright Greens financing activities and the completion of their processing facilities in New Mexico, said Tim Rogers, Executive Chairman of the Board of Alterola. The Bright Green filing says that Capussi is suing for 108,000 shares of the company. Approximately 544 miles north of Las Vegas lies what's been dubbed "the biggest lithium deposit in the US." Bright Green broke ground on its cannabis research complex in 2021, 11. The business made history when it entered the market to represent the cannabis industry on the stock exchange. The Bright Green stock prediction results are shown below and presented as a graph, table and text information. As well, especially during these unusual circumstances, Wall Street can be volatile. 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. In 2020, she lent the company $392,194 and has no fixed repayment term. In addition to the Capussi lawsuit, Bright Greens former CEO John Fikany is also suing the company. I can unsubscribe or change my email preferences atanytime. That was less than a year ago and the enterprise is already making history. It implements the use of robotics including a device called the Visser Transplanter. All rights reserved. Today's Change (4.96%) $0.02. But how it goes about the process is different. Anyone who gives them money deserves to lose it. Bright Greens mission is to be the premier federally-authorized provider of cannabis, cannabis-related products, and other legal medicinal plant-based therapies, manufactured in exact formulations for research and pharmaceutical applications and an active ingredient to consumer-based solutions. 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. She was at the groundbreaking ceremony for the $300 million planned research complex, even though the company has nowhere near that amount of money. 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. Designed and Developed by Black Rock Digital Agency. Nevertheless, investors must exercise great caution as the green sector is notorious for heart-wrenching volatility. 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. Currency in USD. Bright Green Corp IPO'd on May 17, 2022, selling more than 150 million shares at a value of $15.99 per share and closed that day at $25.25 with a valuation of . If youre from the Midwestern or Southern part of the United States, youre probably familiar with the Texas Roadhouse restaurant chain. 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 company has achieved an efficient automated production system for the production of superior quality cannabis products. ET. . 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. The massive production facilities located in New Mexico boast plans to build the facility to encompass incredible square footage of more than seven million square feet. De Chanville and Raisson were both doing DIY projects and noticed that they were having a challenging time buying products online to complete, Read More 20 Things You Didnt Know about ManoManoContinue, Waste Management is a company with a unique logo that is recognizable. The Bright Green Corporation is a publicly-traded company, 18. 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