As of 12:15pm EST Friday Dec 29, 2017, shares of $GRCK aka Grey Cloak Tech Inc. were surging up 50.9% on nearly 16 million shares traded. The combination of a shareholders meeting to be held today at 1pm PST (market close) mixed with both their website launch and legalization of recreational marijuana in California has fueled a 3 day run of nearly 150% gains from its 0.0031 low on Wednesday.
The Shareholder Meeting
Shareholders are cordially invited to attend a Special Meeting of the Shareholders of Grey Cloak Tech Inc. (the “ Company ”) to be held on Friday, December 29, 2017, at 1:00 PM, Pacific Time, at the offices of the Company’s legal counsel Clyde Snow & Sessions, P.C., 201 S. Main Street, Suite 1300, Salt Lake City, UT 84111, to consider and act upon the following proposals, as described in the accompanying Proxy Statement:
|1.||An amendment to our Articles of Incorporation to increase the authorized common stock from 500,000,000 shares, par value $0.001, to 1,000,000,000 shares, par value $0.001.|
The company is proposing this action in order to reorganize its capital structure to be more attractive to potential investors. This action is more fully described in the Proxy Statement accompanying this Notice. The Board of Directors has fixed the close of business on November 8, 2017, as the record date for Shareholders entitled to notice of and to vote at this meeting and any adjournments thereof.
Investors normally do not get excited about the Authorized share count increasing, but if it is in the best interest to position themselves “capital wise” to be successful then you have to be optimistic. Investors are also hoping to get a confirmation of “website launch” at the meeting.
The Website Launch
The new company site at http://cbd.co looks ready to launch- Even with a count down clock at the top. (note: pic shows 90’s across the board on the TIME (tablet) but on my laptop it shows the countdown to Jan 1, 2018.
According the website information, it states:
Google, Facebook and Amazon won’t let you sell CBD products… But we will!
Sell Your Products on the #1 CBD Destination on the Web
We have THOUSANDS OF CBD LEADS PER DAY and need your products to sell
- ZERO upfront cost to you — it is totally free to list on CBD.co — we just take a percent of sales
- Don’t want to ship the orders? No problem, we can ship it for you — for no extra charge!
- We handle the marketing, social, SEO, order processing and customer service for you.
- You own your brand 100% — you can sell anywhere else and even stop selling on CBD.co at any time!
- All you do is ship the orders and get paid.
- Your products will naturally get reviews and tons of social proof on CBD.co
The company will sell your CBD in 3 Simple Steps
- We’ll list your products on CBD.co for FREE
- We do all the marketing, traffic, sales, order processing & customer service for you
- Then all you do is ship the orders and get PAID for your sales!
Legalization in California
Golden State tokers rejoice. The biggest legal recreational marijuana market in America is finally ready to open its doors.
It’s been more than a year since California voted to legalize adult-use cannabis sales in the country’s most populous state by passing Proposition 64, but actual legal recreational weed sales have been on hold while state lawmakers decided on the regulatory framework for the new legal market. While medical marijuana has been legal in California for two decades—accounting for roughly $2 billion in annual sales—state residents must wait until January 2018 before they are able to legally buy marijuana in California without a doctor’s approval.
California will soon join states like Colorado, Oregon, and Nevada that have already expanded into adult-use marijuana markets (in total, seven states and the District of Columbia have legalized recreational marijuana). In some of those states, eager consumers celebrated the first day of legal recreational pot sales by lining up at their local dispensaries in order to be among the first to participate in the newly-legal marijuana economy.
When and where can you buy recreational marijuana in California?
California’s new recreational marijuana laws will go into effect on Jan. 1, 2018, but that doesn’t mean you’ll be able to go straight from your New Year’s Eve party to a local dispensary. First of all, state rules will dictate that cannabis not be sold until 6 a.m. or after 10 p.m. And, while the state’s Bureau of Cannabis Control is issuing temporary licenses to dispensaries this month that will be effective starting Jan. 1, it remains to be seen exactly how many California dispensaries will eligible for those licenses from the get-go.
Some of the roughly 1,000 existing medical marijuana dispensaries statewide, which also must apply for new state licenses, are likely to be among the first to land new licenses for both medical and recreational cannabis sales. But, entrepreneurs hoping to land their own licenses will also have to make sure that they have the approval of their local county or municipality, and the Los Angeles Times notes that most of the cities in California have still not approved recreational marijuana sales. The San Diego Union-Tribune puts the number of California cities and counties that have banned either the sale or cultivation of cannabis at higher than 70%.
Buzz is circulating as popular twitter account with nearly 200,000 followers mentions and plugs CBD.co, will more stars follow suit? We shall see.
Disclosure: NO position or compensation.