Wednesday, June 29, 2022

Interesting Moves on SUNSET IS GRP INC COM USD0.001 (POST REV SPLT (OTCMKTS:SIGO)

SUNSET IS GRP INC COM USD0.001 (POST REV SPLT (OTCMKTS:SIGO) has become one of the most talked about trades on the OTC over the past few weeks. SIGO is a new kid on the block in the cannabis patch, ramping from $0.20 to $1.60 just in August. That’s a torrid run. SIGO’s latest announcement notes that it has received the highest possible certification from Envirocann, a third party certification organization that focuses on quality assurance and quality control in the cannabis industry.
That announcement was preceded by perhaps a more important release out of SIGO imposing a formal three-year Lock-Up Agreement with respect to 91.94% of all outstanding shares. CEO T.J. Magallanes stated, “We are in this for the long haul.  As we expand our operations, we will do so with the focused mindset of capturing as much market share as possible.  In order to provide one more example of how committed we are to both the business and the shareholders, Valerie and I will be locking up our combined 46M shares for the next three years.”
SUNSET IS GRP INC COM USD0.001 (POST REV SPLT (OTCMKTS:SIGO) trumpets itself as a company whose principal line of business is the cultivation of medical cannabis.
SIGO has leased green house space in Northern California that has been approved for cannabis cultivation. The greenhouse is 12,000 square feet; however, SIGO has begun filing its permits to expand to 22,000 square feet.
Once the State of California has finalized the licensing process and requirements for licensed manufacturing facilities, the Company will begin consulting and advising clients that operate in the medical marijuana business by providing clients a licensed manufacturing facility to produce products such as oils and edibles.
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As noted above, we have seen a couple of key announcements out SIGO in recent days. In addition to notice that the company received the highest grade of certification for its cannabis product, we also saw a release noting that over 91% of the company’s outstanding shares are attached to a three-year lock-up agreement, preventing sale on the open market. We aren’t entirely certain of how effective this agreement will be in practice, and we would encourage investors to remember to remain skeptical of agreements like this.
That said, it is still quite an interesting move. As for the high marks – no pun intended – for the cannabis quality, management was obviously elated.
CEO T.J. Magallanes stated, “Like any other cannabis producer across the country, our buyers want peace of mind in knowing that the products they receive are top quality. The Enviroganic level of certification is the highest level available and that speaks volumes about our team and our entrenched policies and procedures. We go out of our way to ensure that every team member adheres to the strictest possible protocols through all three phases of the grow process. This definitely gives us a jump start on 2018 in the state of California vs our competition as we are one of only a few grow facilities in the state that have received this level of certification.
We’ve witnessed in excess of 810% piled on for shareholders of the company during the trailing month, but that move comes in the context of a larger bearish trend. However, SIGO has evidenced sudden upward volatility on many prior occasions. Furthermore, the company has benefitted from a jump in recent trading volume to the tune of approaching 160% above the average volume levels in play in this stock over the longer term.
At this time, carrying a capital value in the market of $69.54M, SIGO has virtually no cash on the books, which compares with virtually no total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $SIGO stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $SIGO, either long or short, and we have not been compensated for this article.

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