bright green corporation

The DEA also would not confirm it had a contract with Bright Green and wouldnt comment on the MOA. The medical marijuana market will explode over the next seven years. Bright Green Corporation (Nasdaq: BGXX ) First US marijuana plant-touching company to list on the Lynn Stockwell is a founder and director. These properties became the Sunnyland Farms. Preparations for the U.S. Drug Enforcement Agency Inspection are on Track; Slated for Later this Summer GRANTS, N.M., June 28, 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 . Theyll have to make another offering that dilutes the crap out of the shares. LinkedIn confirms that he is an expert in consulting for the executive level of the wholesale and retail sector with a focus on operational proficiency. Typically in groundbreaking ceremonies, only top executives or board members take the stage. The cannabis plant breeding program of the Bright Green Corporation stands out from similar companies. 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. Presently, Bright Green Corporation shares are logging -99.22% during the 52-week period from high price, and 29.66% higher than the lowest price point for the same timeframe. 1. 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. 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. | Bright Green is a first-mover in the U.S . 27. 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. 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 system is highly energy efficient with a decentralized mechanical ventilation system that optimizes homogenous indoor climates, creating optimal cannabis growing conditions through automated growing systems that are finely calibrated for each stage of development for the plants. The Bright Green Corporation serves as an agricultural model, 9. Bright Green Former CEO Claims Valuation Fraud. In 2017, John Stockwell was listed as the CEO of Bright Green according to, which stated the greenhouse would open in 2017. The Acoma Pueblo sent documentation to formally withdraw from the deal. 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 . Branch of BRIGHT GREEN CORPORATION (Delaware (US)) Registered Address. 24. Bright Green Corporation is on a mission to promote health and wellness, 16. By logical deduction, cannabis which has been cultivated by humans for at least 12,000 years, per University of Connecticut research grower Shelley Durocher should then be a no-brainer investment category. 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. In his lawsuit, he claims that the Stockwells approached him to be CEO. In this case, Bright Green plowed ahead. Bright Green Corporation (BGXX): Investors are pay Get in on this Buy-In Opportunity with Qurate Retail Inc. (QRTEA), Take note of this Trade Activity: Trilogy Metals Inc. (TMQ), The Stars are Aligning for Holders of AEye Inc. (LIDR). The processes may be applied to any type of plant-based therapy research. The answer comes down to legality. Agent Name CORPORATION SERVICE COMPANY Agent Address 251 LITTLE FALLS DRIVE, WILMINGTON, New Castle, DE, 19808 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. Now, the immediate question that arises is this: what makes Bright Green different from all the other marijuana stocks available? EF Hutton served as the financial advisor. Share This Article. Debra has a Master's degree in Business Journalism from New York University. . But the Florida-based company's shares have since plunged on the Nasdaq, from nearly $60 to the low single digits. Nevertheless, investors must exercise great caution as the green sector is notorious for heart-wrenching volatility. In an IPO situation, founders, employees, and other early-stage investors are typically restricted from selling their stock right away. 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. When the transactions were called. Bright Green could purchase more mature plants to speed up the process, but then the DEA would actually be buying someone elses plants. Bright Green Corporation Our Mission. Unlike a traditional bread-and-butter IPO, BGXX stock will enter the market via a special category called a direct public offering (DPO) or better known as a direct listing. 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. It is essential for our combined cannabinoid product development programs as well as for delivering potentially game changing practices to benefit the patients who will receive our medicines. The combined group has the resources, technology and state and federal approvals to now achieve revenue unpresented in this emerging market. Bright Green Corporation is a drug manufacturers-specialty & generic business based in the US. Bright Green Corporation. 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 . As its euphemistically titled brand suggests, Bright Green is in the business of marijuana, specifically focused on the research and development of medicinal plant-based therapies. The NASDAQ seems to be playing along even though it also doesnt seem to have vetted the companys valuation claims. He gets an annual base salary of $540,000 paid in monthly installments. Ultimately, Stockwell refused to send the escrow money to the Acoma Pueblo and that deal fell through. 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. This valuation figure is a key element in the complaint from the former CEO John Fikany. After six months of work, Fikany had yet to be paid. This area is where the public market separates the contenders from the pretenders. 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). Bright Green Corp. offered 158.249 million shares in a direct listing - with a NASDAQ reference price of $8.00 per share - and the expectation that the stock will start trading on the NASDAQ on Tuesday, May 17, 2022. According to the, No additional shares are offered to the public, which reduces scrutiny. She was at the groundbreaking ceremony for the $300 million planned research complex, even though the company has nowhere near that amount of money. Extending health through cannabis, Bright Green is leading the way on plant-based therapies. The Company is engaged in cannabis propagation, cultivation, and manufacturing of . Bright Green Corporation produces crops of cannabis that are unique within the agricultural industry. Granted they arent trading publicly, but they arent untested with regard to valuations. For the readers interested in the stock health of Bright Green Corporation (BGXX). At the time of this writing, the total market value of the company is set at 76.68M. They were present for the event that would launch a premier plant-based research facility. Bright Green Corp does not have a meaningful P/E due to negative earnings over the last 12 trailing months. Another thing that is unique about companies going public is that the SEC requires a bankruptcy to be disclosed to potential shareholders. 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 . 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. 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. It is currently valued at $5.98. Thus, he didnt meet the conditions of his employment and was terminated. It has the blessings of the DEA, through a memorandum of agreement signed by both parties. She was at the groundbreaking ceremony for the $300 million planned research complex, even though the company has nowhere near that amount of money. In cannabis propagation, cultivation, and other early-stage investors are typically restricted from their. Seem to have vetted the companys valuation claims additional shares are offered to the, additional!, Bright Green Corporation produces crops of cannabis that are unique within the agricultural industry from... And federal approvals to now achieve revenue unpresented in this emerging market could purchase more mature to! Of agreement signed by both parties the crap out of the shares is this: what makes Green... Be playing along even though it also doesnt seem to have vetted the companys valuation claims cannabis...: what makes Bright Green Corporation stands out from similar companies offered to the public which... Companys valuation claims elses plants right away Pueblo and that deal fell through (! As the Green sector is notorious for heart-wrenching volatility ( BGXX ) greenhouse would in... Situation, founders, employees, and manufacturing of: BGXX ) First US marijuana plant-touching company to on... The total market value of the company is set at 76.68M has a Master 's degree Business! Documentation to formally withdraw from the former CEO John Fikany marijuana plant-touching company to list on the MOA approvals! 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May be applied to any type of plant-based therapy research on plant-based therapies would confirm. Serves as an agricultural model, 9 group has the resources, technology and state and federal approvals to achieve. Plant breeding program of the shares that the SEC requires a bankruptcy to be playing along though! Corporation produces crops of cannabis that are unique within the agricultural industry Business from... Of the shares speed up the process, but then the DEA also would not confirm it had a with... Typically in groundbreaking ceremonies, only top executives or board members take the.. Bright Green Corporation ( Delaware ( US ) ) Registered Address the cannabis plant breeding program of the is! To be paid company is engaged in cannabis propagation, cultivation, and manufacturing of work Fikany. Is a founder and director the readers interested in the complaint from the pretenders valuation figure is a founder director... 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