{"id":6702,"date":"2015-08-29T14:12:02","date_gmt":"2015-08-29T14:12:02","guid":{"rendered":"\/?p=6702"},"modified":"2015-08-29T14:39:35","modified_gmt":"2015-08-29T14:39:35","slug":"american-green-inc-otcmktserbb-bounces-on-new-pr","status":"publish","type":"post","link":"\/articles\/american-green-inc-otcmktserbb-bounces-on-new-pr\/","title":{"rendered":"American Green Inc (OTCMKTS:ERBB) Bounces on New PR"},"content":{"rendered":"\n

After months of dire chart performance and a share price drop of nearly 80% within less than six months, yesterday American Green Inc (OTCMKTS:ERBB<\/a>) caught a boost and closed 81% up. The price was propelled by a new press release.<\/p>\n

ERBB<\/a> announced its ‘brand licensee’, Herbal Elements, got approved as a retail marijuana product manufacturer. According to ERBB<\/a>‘s release, this ‘greatly increases’ the amount of cannabis products that Herbal can put out.<\/p>\n

Why this excited investors enough to buy ERBB<\/a> all the way up the chart is hard to understand but then again, it’s getting increasingly hard to understand why anyone would be excited about ERBB<\/a> in the first place.<\/p>\n

Over the last 18 months the company has been struggling to make it with its ZaZZZ marijuana vending machine. All this work amounted to less than 10 units currently installed outside of ERBB<\/a>‘s offices, generating an unknown amount of revenue. The side effect of all that, however, was a mountain of new severely toxic debt and a 2015 increase of authorized shares to accommodate the conversion of that debt.<\/p>\n

With blunder after blunder in rolling out and successfully getting the machines online, investor confidence in ERBB<\/a> gradually faded and the result is plain to see on the chart. Earlier this month ERBB<\/a> stated that the ZaZZZ failed to achieve a “sustainable level of sales” in the dispensaries which did order it and the company is redesigning its machine for the umpteenth time. ERBB<\/a> still has millions worth of convertible debt and noteholders can convert this into common stock at a 50% discount from the lowest price for the past 12 months prior to conversion. To make room for the tons of new shares such conversion would require, ERBB<\/a> increased its authorized shares by another 3 billion, up to the current 7.75 billion. How much of that is filled up with outstanding shares remains to be seen sometime in late September, when the annual report should be out.<\/p>\n","protected":false},"excerpt":{"rendered":"

After months of dire chart performance and a share price drop of nearly 80% within less than six months, yesterday American Green Inc (OTCMKTS:ERBB) caught a boost and closed 81% up. The price was...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[173],"class_list":["post-6702","post","type-post","status-publish","format-standard","hentry","category-news","tag-erbb"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6702"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6702\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}