American Green, Inc. f/k/a Tranzbyte Corp (OTCMKTS:ERBB) Runs on Idle
Yesterday the stock of American Green, Inc. f/k/a Tranzbyte Corp. (OTCMKTS:ERBB) managed a green close after a troubled stretch that shaved nearly 20% off the share price. ERBB closed 3.4% up on volume of 20 million shares traded.
The company has kept quiet for some time, with its latest press release coming on June 25. The news about an upcoming acquisition did nothing to help ERBB‘s price movement. The company informed of its plans to purchase a certain Green Universe, a hydroponic company based in Sonoma, CA. The PR contained no details on the purchase. The deal was supposed to get finalized over the last weekend, yet there is no new PR from ERBB so whether they went through with it or not is not yet clear.
Another highlight of the past weekend is the first annual WeedStock conference that started on Saturday and ends today. Curiously, the networking event that will bring businesses and investors together does not have any representatives of ERBB among its presenters. Why the company decided to sit this one out is not too clear. Perhaps appearing next to presenters from Endexx Corp. (OTCMKTS:EDXC) whose Autospense vending machine was on display in the conference exhibition hall would make it harder for ERBB to advertise their own ZaZZZ as the “first-ever consumer-operated” pot vending machine.
Then again, considering the WeedStock conference will feature presenters from recently-suspended Advanced Cannabis Solutions, Inc. (OTCMKTS:CANN), now trading on the grey market, perhaps ERBB missing the presenter list is not such a big deal.
Speaking of the ZaZZZ, there’s no real news on that either. The machine failed to premiere on June 12 in a livestream event that simply got canceled because, according to ERBB‘s president and COO Mr. Shearin, “technology got in the way”. Since then all that eager investors got was a couple of videos showing how the ZaZZZ first dispenses, then refuses to dispense product if the customer tries to use somebody else’s ID card. The videos were likely produced to dispel fears that the machine does not function as advertised after the multiple delays. With that in mind it would have been better if it was one continuous video but it’s still better than nothing.
The waiting game is still on and it’s not clear when shareholders will finally get confirmation that the ZaZZZ is actually rolling out and being leased in significant numbers to dispensaries. Before definitive news on the matter is published by the company, all that investors can do is hope ERBB did not accumulate even more toxic debt in the last quarter and hope for the best.
