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Greengro Technologies Inc. (OTCMKTS:GRNH<\/a>) managed three impressive jumps at the end of June, but it was clear from the get-go that the gains it made back then were unretainable – and, true to form, now it is crashing right back down again. <\/p>\nThis sort of thing has been the norm since the great green rush that shook the market in the wake of marijuana’s legalization a couple of years back. The story is always the same – penny stock company talks big, gets some publicity. The ticker soars for a couple of days, but since there is nothing of substance keeping it up, it comes crashing down the moment the hype pushing it upward dissipates.<\/p>\n
GRNH<\/a><\/strong> has seen quite a few such surges. This is hardly the first time it has put on a brave face and declared something bold. Unfortunately, it doesn’t really look much better equipped to capitalize on the booming marijuana market, with financials looking like this:<\/p>\n No matter how many great steps forward the company claims to have made recently, these do not look like the numbers one would find in the reports of a promising up and comer. No, rather, they look like what you’d find in the reports of most dubious OTC Markets marijuana penny stock companies.<\/p>\n And you know what else GRNH<\/a><\/strong> shares with most of the sector? If your answer was “a tendency towards toxic funding” – congratulations, you are absolutely right.<\/p>\n A quick check reveals that GRNH<\/a><\/strong> has issued 54 million shares for consulting services during 2015 alone, while 7 million more were printed due to conversions of debt at a rate of $0.005 per share. What’s worse is the fact that, as GRNH<\/a>‘s<\/strong> filings can attest, it is not like such practices are a thing of the past. Q1 of 2016 saw another $40 thousand worth of notes converted into approximately 8 million shares. Q2, on the other hand, saw another 12 million shares issued for consulting services.<\/p>\n tags: GRNH Greengro Technologies Inc. (OTCMKTS:GRNH) managed three impressive jumps at the end of June, but it was clear from the get-go that the gains it made back then were unretainable – and, true...<\/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":[],"class_list":["post-8266","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/8266","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=8266"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/8266\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=8266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=8266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=8266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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So in the end, we have a ticker that’s kept up mostly by boast-driven hype and well-wishing, while being pulled down by the company’s mediocrity and hideously bloated share structure. This is why it was so obvious where GRNH<\/a><\/strong> was going to head eventually – just like it is obvious that the ticker is not likely to stop losing altitude just yet.<\/p>\n","protected":false},"excerpt":{"rendered":"