American Green Inc (OTCMKTS:ERBB) Moves Up on Fluff PR
After posting another bit of PR yesterday morning, American Green Inc (OTCMKTS:ERBB) shuffled up 5.8% by the closing bell. Just over 33 million ERBB shares changed hands over the session.
The press release in question is classical ERBB – it concerns another letter of intent for a joint venture with a little-known partner. ERBB announced it was entering the Arizona medical marijuana market through the JV in question, with their new partner being Natural Herbal Remedies.
The curious thing about Natural Herbal Remedies (NHR) is its association with a certain Ms. Sheelah Golliglee, who is also quoted in the PR as a “partner” of NHR. She also happens to be the person listed as Registrant for the domain of NHR.
It just so happens that Ms. Golliglee was involved in a rather nasty police sting conducted by Payson, Arizona police. She was actually the one being arrested as the culmination of an undercover operation investigating a facility run by her called Nature’s Harvest. Here is a link to a story on the unpleasant matter and a link to the actual court indictment with Ms. Golliglee’s name on it.
As a tongue-in-cheek remark, some might say that it’s a good thing that ERBB works with people who have past experience of selling pot to others, but at the end of the day, NHR may not be the best new partner for the public company.
In other news, ERBB seems to have put the ZaZZZ machine, which was its main focus for over a year and cost more than a million worth in accumulated debt to develop, on hiatus for an unspecified stretch of time. The ZaZZZ floundered for months on end in 2015 and its current state and deployment are a bit of a mystery.
The deadline for ERBB‘s annual report is relentlessly creeping closer. By the end of September the company will need to show what exactly took place since its previous report covering calendar Q1. What is known for certain is that ERBB upped its authorized shares by 3 billion, climbing from 4.75 to 7.75 billion. How much of this new breathing space was filled up by noteholders converting debt into shares remains to be seen.
