Year-to-date Price performance of the companys stock appears to be encouraging, given the fact the metric is recording -98.20%. The board of directors at Bright Green Corporation has six members. But thats also where Bright Green is unique among marijuana stocks. Granted they arent trading publicly, but they arent untested with regard to valuations. Save my name, email, and website in this browser for the next time I comment. In fact, the company only has net losses. The Stock rose vividly during, At the end of the latest market close, Trilogy Metals Inc. (TMQ) was valued at $0.60. The systems and methods developed are nothing short of brilliant and they signal a turning point in the accuracy and precision that modern technological advances afford us. Ready to start growing your canna-business. 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. 2023 All rights reserved. If youre from the Midwestern or Southern part of the United States, youre probably familiar with the Texas Roadhouse restaurant chain. 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. Click here to download your Free Copy. 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. BRIGHT GREEN CANNABIS, INC. The operating expenses were $2.5 million for 2021, yet the business had a cash balance of $1.3 million. BGXX. Terry Rafih is the chairman of the board. Despite your claims of their superior products, they dont even grow anything yet. In a similar fashion, Bright Green Corporation posted a movement of -62.80% for the period of last 100 days, recording 1,664,533 in trading volumes. The forward-looking statements included in this press release represent the Companys views as of the date of this press release. The back story of the cannabis concept stock Bright Green (NASDAQ: BGXX) involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud. It is a DEA-certified operation that meets the criteria for approval under the federal authorization of a Schedule 1 drug handler. 1033 George Hanosh BoulevardGrants, NM 87020United States833 658 1799https://www.brightgreen.us. Year-over-year quarterly sales growth most recently was %. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. Its products will further research at pharmaceutical companies and universities throughout the United States. Its a potting robot that reduces the need for human interaction. Ultimately, Stockwell refused to send the escrow money to the Acoma Pueblo and that deal fell through. However, a noteworthy positive is its balance sheet. Bright Green Corporation grows, manufactures, and sells . $84M. Here's How It Did. The pharmaceutical manufacturer focuses on the development of cannabis-based products for research into treatments and cures in the pharmaceutical industry. Its a pump and dump. Kurt Riley, surrounded by members of Tribal Council and Acoma Business Enterprises, signing a business agreement with Bright Green Group on Dec. 16, 2017. Bright Green Corp. is working with EF Hutton, a division of Benchmark Investments LLC, to list its shares. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Market Cap. Bright Green Corporation employs 0 staff and has a market . 42 subscribers in the BGXXBrightGreen community. Wheres the 300m coming from and what was the point of going public besides enriching original investors?? Company remains on track to start cultivation by the end of the year. The Acoma Pueblo sent documentation to formally withdraw from the deal. Requirements from NASDAQ about. At this point, the company actually paid Fikany his one and only paycheck of $19,230.77. 25. 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 . However, ample industry data provides important clues for prospective IPO participants. However, costs to the listing company can be steep because one, it must recruit the services of investment banks and two, underwriters typically sell shares to the public at a discount to their intrinsic value to attract the most hype. We have now established our leadership role in the medical side of this emerging market and expect to play a significant role in the United States as well as worldwide., Our approach to raising the requisite capital to execute our business plan is both creative and relatively unique. If you like to purchase items on credit, its one of the easiest companies to use. Designed and Developed by Black Rock Digital Agency. That is the equivalent of 115 acres of advanced manufacturing technology. According to the NASDAQ website, Companies choosing a direct listing typically have had no immediate need for additional capital, have a large and diverse shareholder base and are a well-known brand with an easy-to-understand business model. And finally, even if they follow through on all of their claims, which I doubt, the business model simply isnt viable. 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. Bright Green Corp IPOd 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 just over $4 billion. It says it right in the SEC filing. They did a direct listing instead of an actual IPO, which means its not even underwritten and theres no lockup period and insiders were allowed to cash out immediately and dump the stock onto retail investors. The NASDAQ seems to be playing along even though it also doesnt seem to have vetted the companys valuation claims. Bright Green develops uniqueness within the plant architecture with homogenous cannabinoid expression and powdery mildew tolerance. The Bright Green Corporation sets the example of innovation in greenhouse growth through its optimization of plant growth. Nevertheless, investors must exercise great caution as the green sector is notorious for heart-wrenching volatility. GRANTS, N.M., May 16, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation ("Bright Green"), one of the very few companies selected by the U.S. government to grow, manufacture, and sell, legally . A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk. 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. At some point during these years, it seems the Sunnyland greenhouses were transferred to Lynn Stockwell who then transferred the property to Bright Green. The company was incorporated in 2019 and is based in Fort Lauderdale, Florida. Words such as expect, anticipate, should, believe, hope, target, project, goals, estimate, potential, predict, may, will, might, could, intend, shall and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. 2023 All rights reserved. There are currently several companies that have been approved by the DEA to sell cannabis to the Federal Government for research purposes, so the concept cannabis company actually does have existing companies for comparison in order to determine a true valuation. The Bright Green Corporation is credited for developing one of the most advanced greenhouse systems for agriculture that the world has known. Per its S-1 disclosure, management anticipates that its firm will receive final registration regarding federally sanctioned marijuana research in June 2022. I can unsubscribe or change my email preferences atanytime. This company, however, is sitting on a goldmine opportunity as it plans to produce 30,000 tonnes per annum over the next 3.5 years from this single deposit. GRANTS, N.M., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Bright Green Corporation. Our team is cultivating the industrys critical news into one source and providing open source insights and data analysis, Bespoke Financial Sues In Da Cut For Not Paying Its Debt https://t.co/cStDNi2CYO, Number of the Week: 35% https://t.co/czF1LKKFvP, Cannabis ETF Investors: Bad Timers, but Committed https://t.co/2sN9SCgUDh. No additional shares are offered to the public, which reduces scrutiny. 53-5-1 to 53-5-10 NMSA 1978; Business Classification Text FARMING Agent Name Registered Agents Inc Agent Address 530-B HARKLE ROAD, STE 100, Santa Fe, NM, 87505, USA Its last market close was $0.489 - an increase of 27.68% over the previous week. 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. The idea is that investors should have adequate information in order to make a wise investment decision. A direct listing does not involve an underwriter. When the transactions were called off in the previous session, Stock hit the highs of $0.54, after setting-off with the price of $0.5281. As of the end of 2021, Bright Green posted a total asset count of $8.78 million compared to total liabilities of only $560,156. It has the blessings of the DEA, through a memorandum of agreement signed by both parties. For instance, the AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS) is down a staggering 65% in the trailing year (May 18, 2021 to May 16, 2022). ("Bright Green" or "the Company"), one of the very few companies selected by the U.S. government to grow . 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. . Cautionary Note Regarding Forward-Looking Statements: When the transactions were called. 251 LITTLE FALLS DRIVE; Wilmington; 19808; DE; USA; Governing Legislation. Bright Greens operation will expand to millions of square feet, 15. BRIGHT GREEN CORPORATION : End-of-day quote, intraday chart, variations, volumes, technical indicators and last transactions, share BRIGHT GREEN CORPORATION | Nasdaq: BGXX | Nasdaq Bright Green Corporation is a New Mexico Foreign Profit Corporation filed on October 30, 2020. Their conditional understanding with the DEA is for research purposes only. GRANTS, N.M., Oct. 07, 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 . First, Bright Greens federal pathway is enormous. The products are prized by researchers in pharmaceutical applications as they promote adherence to academic rigor and fewer variables to account for while generating meaningful research data. Thats why it went from $58 to 2 dollars in two weeks. 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. Subscribe to learn about the latest medical cannabis research, keep current on new resources and stay up on other news related to plant-based therapies. Raw Stochastic average of Bright Green Corporation in the period of last 50 days is set at 34.72%. So where are these claims coming from? The enterprise maintains its commitment to engaging in sustainable manufacturing processes and giving back to the earth. Bright Green Corporation. According to the bankruptcy documents, in about 2003 Stockwell purchased the assets of Agstar of New Mexico, Inc., including greenhouses in Grants and Estancia, New Mexico. If you judged it regarding the age of the operation it would still be in its infancy stage of development, but thats not the case for Bright Green. Second, federal approval for the specified scope of Bright Greens business may open pathways to future financial funding opportunities. Looking at the track record of Sunnyland and then Bright Green, it will remain a stock to keep under the microscope. Today 200 Day Moving Average is the resistance level (2.146 $). Does that make sense to you? He was then terminated. People have a long memory about their financial losses, which means interest could be lacking for Bright Greens DPO. It is currently valued at $0.50. 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. Stockwell was responsible for hiring the advisors to determine the number, but Fikany said the valuation was misleading and aggressive. Lets start up with the current stock price of Qurate Retail Inc. (QRTEA), which is $1.94 to be very precise. 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. Look it up. Undeterred, Fikany continued to push back. The Company anticipates that subsequent events and developments will cause its views to change. At the same time, institutional investors have not had the time to perform a price discovery process, meaning that you would not be working with an established benchmark to judge fair value. That business was called Sunnyland Farms based in Grants, New Mexico where Bright Green Cannabis is based. Bright Green Corporation is an American pharmaceutical manufacturer that produces plant-based medicines and cannabis-related products for research and use in pharmaceutical applications. Edward Robinson is the founder and CEO of the Robinson Advisory Services PLLC. The idea is that investors should have adequate information in order to make a wise investment decision. 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. The stocks price range for the 52-week period managed to maintain the performance between $0.35 and $58.00. In 2017, John Stockwell was listed as the CEO of Bright Green according to, which stated the greenhouse would open in 2017. / EIN News / -- 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 . Bright Green Corporation is on a mission to promote health and wellness, 16. At the end of the latest market close, Bright Green Corporation (BGXX) was valued at $0.38. We have also been focused on the capital requirements to execute on the next phase of our facilities and the completion of our business plan. At the end of the latest market close, Bright Green Corporation (BGXX) was valued at $0.38. Your email address will not be published. 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. It implements the use of robotics including a device called the Visser Transplanter. Bright Green Corp. engages in the cultivation, manufacture, and sale of medical cannabis. Its how discoveries occur. 24. The potential for receiving full federal recognition for its business purposes is high. With Sofi Active Invest you can participate in upcoming IPOs before they trade on an exchange. He is no longer listed as having a role in the company. At the time of this writing, the total market value of the company is set at 76.68M. Our mission is to make a difference and improve lives. 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 employs experts in cultivation, 6. Agent Name CORPORATION SERVICE COMPANY Agent Address 251 LITTLE FALLS DRIVE, WILMINGTON, New Castle, DE, 19808 Robinson was the Chief Executive Officer of BMW Financial Services for the Americas Region from April 2005 to December 2016. Investchronicle.com is an Economic news website, which offers broad information about the Stock markets and Equities. Bright Green Corporation is a vertically integrated cannabis company and multi-state operator in the US and internationally. The expert team involved in the processes and leading the company forward have experience in various aspects of its operation, such as agriculture, marketing, manufacturing, greenhouse operation, body health and wellness, medical science, and technology. 26. 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. Benzinga suggests some reasons to consider Bright Green Corporation stock as an addition to your current investment portfolio. Something is missing from that narrative. Bright Green stock forecasts are adjusted once a day based on the closing price of the previous trading day. To learn more, visit www.brightgreen.us. 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. 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 . Photo published by Albuquerque Business First. Bright Green Media ContactBrightGreen@edelman.com, Bright Green Investor Relations ContactBrightGreenIR@edelman.com. The Stockwells deny the allegations about the misrepresentation of the valuation of Bright Green, but they do admit that the deal with the Acoma Pueblo did fall through. Similar companies that work in the production of hybrids could learn some practical lessons from the Bright Green Corporation model. Other financial media also jumped in and never looked beyond the companys press release and helped tout the idea of a cannabis company trading on the NASDAQ. 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. 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. That was less than a year ago and the enterprise is already making history. Bright Green Corporation went public via a direct listing on the NASDAQ in May 2022. Total Debt to Equity Ratio (D/E) can also provide valuable insight into the companys financial health and market status. This area is where the public market separates the contenders from the pretenders. Stockwells wife Lynn Stockwell is a Director of the company and owns 44% of the voting shares or 69 million shares. This site uses Akismet to reduce spam. Bright Green Corporation started its trading on May 17, 2022, on the Nasdaq stock exchange under the ticker symbol BGXX. Yes, cannabis stocks are legal to trade, but you should ensure that cannabis products are legal for you to own or transport in your state of residence or wherever you are traveling. Although cannabis use is still illegal at the federal level for recreational use it is legal as medication and for research purposes. Bright Green Corp. made history last month as the first plant-touching marijuana business to trade on a major U.S. stock exchange, and its market value soared as a result - to $9 billion at one point. 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. Bright Green Corporation provides federally-authorized researchers legal access to high-quality cannabis and associated products. 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. Therefore, established market analysts have not yet weighed in on Bright Greens potential and risk factors. Bright Green Corporation stocks (BGXX.US) are listed on the NASDAQ and all prices are listed in US Dollars. 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. The fire apparently devastated Stockwell financially according to the bankruptcy documents. The excitement was short-lived, as the stock crashed back down to Earth. https://www.greenmarketreport.com/bright-green-former-ceo-claims-valuation-fraud/. In addition, long term Debt to Equity ratio is set at 0.00. This valuation figure is a key element in the complaint from the former CEO John Fikany. it cultivates hybrids with zero risk of cross-contamination. The research complex is located in Grants, New Mexico, although the headquarters for Bright Green is in Fort Lauderdale, Florida. 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. Not one single plant has been grown. Theres two sides to every story but it doesnt look good. 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. 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. Supplying the electric vehicle boom and potentially driving its stock price off the charts. The basic concept between an IPO and DPO is the same: enable retail (public) investors to acquire shares of a previously privately held enterprise. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. "With the cooperative spirit of Federal, State, and business we found in New Mexico, we will see New Mexico and Bright Green Corporation become leaders in this emerging field of medical research . Bright Green started as a privately held enterprise, 17. The company's filing status is listed as Active and its File Number is 5992010. Required fields are marked *. The business made history when it entered the market to represent the cannabis industry on the stock exchange. Bright Green Corporation (Nasdaq: BGXX ) First US marijuana plant-touching company to list on the The project is expected to initially create 200 research and agricultural jobs. 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. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. At the time Lynn Stockwell said, With the cooperative spirit of federal, state and business we found in New Mexico, we will see New Mexico and Bright Green Corp. become leaders in this emerging field of medical research. The back story of the cannabis concept stock Bright Green (NASDAQ: BGXX) involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud. You nor anyone else have any idea how tight of a ship they run because there is no ship. Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox. To learn more, visit www.brightgreen.us. December 15, 2022. The DEA also would not confirm it had a contract with Bright Green and wouldnt comment on the MOA. Bright Green Corporation produces crops of cannabis that are unique within the agricultural industry. Bright Green Corporation has applied to be registered as an importer of basic class(es) of controlled substance(s). The stock current value is $0.45.Recently in News on November 14, 2022, Bright Green Announces . The company has achieved an efficient automated production system for the production of superior quality cannabis products. Fikany says in his lawsuit that Bright Green was a sham, operated illegally and fraudulently. He alleges that the Stockwells engaged in acts of fraudulent misrepresentation and attempted to force Fikany to aid and abet them in making fraudulent misrepresentations to investors concerning the valuation and progress of Bright Green Corporation. He is suing for $1.7 million in unpaid wages. Santa Fe, NM, May 24, 2021 (GLOBE NEWSWIRE) Rural New Mexico will soon be the home . The Bright Green Corporation is a publicly-traded company, 18. Bright Green (BGXX 4.96%), was quite the outlier on . Bright Green Corporation has support at high levels, 13. 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. based in Grants, New Mexico where Bright Green Cannabis is based. Its a perfect marriage to create a world-class enterprise. But the Florida-based company's shares have since plunged on the Nasdaq, from nearly $60 to the low single digits. The overarching goal of the Bright Green Corporation is to provide essential products for researchers in their quest to promote medical science and body, health, and wellness for humans through its cannabis products. Still, not everything about Bright Green is positively compelling. 23. All rights reserved. If you want to participate in Bright Greens growth, youll need to know how to buy stocks. It is a highly productive growth strategy that results in mature clone plants created from tiny clippings. Requirements from NASDAQ about direct listings state that in the NASDAQ Capital Market guidelines, The listing company must have a recent valuation from an independent third party indicating in excess of $10 million to $30 million in the aggregate market value of publicly held shares, depending on the financial standard met. Although stock analysts point out that the future of the Bright Green Corporation is uncertain, there is no escaping the significant contributions its making to the improvement of agricultural processes and growing methods. 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. Branch of BRIGHT GREEN CORPORATION (Delaware (US)) Registered Address. The company's principal address is . According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 0.8620, with a change in the price was noted -0.77. Bright Green maintains Full Good Agricultural and Collection Practices while ensuring FDA/Good Manufacturing Practices compliance, and USDA compliance in a robust quality management system with production flexibility. There are not analysts providing consensus earnings estimates for the current fiscal year. After attorney fees were deducted, he was left with about $5.45 million in cash. The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. 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 . Here let me add a few more to your list: 21. 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. However, such products must contain less than 0.3% delta-9-tetrahydrocannabinol (THC), the hallmark psychoactive compound of marijuana. GRANTS, N.M., May 16, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation ("Bright Green"), one of the very few companies selected by the U.S. government to grow . Company owes more that $400,000 in unpaid principal and interest. Find the latest Bright Green Corporation (BGXX) stock quote, history, news and other vital information to help you with your stock trading and investing.