As previously stated DCGD’s shares have been subject to a rather suspicious price increase for the last month or so despite the company being a shell. This has coincided with their stock being featured on the pennystocks.com website which we pointed out yesterday. Pennystocks.com is website with a disclaimer where it is clearly states that it runs advertising campaigns for certain clients in exchange for money (we clarify that DCGD is not listed as a client therefore it has not compensated pennystocks.com for this feature).
As previously mentioned, DCGD was taken over by GRN Funds on June this year when it acquired 55.65% of the common stock with the intention of reverse merging into DCGD. On the surface GRN Funds might seem like a promising firm with diversified investments in a variety of industries but upon closer scrutiny things seem strange. GRN’s CEO (Justin Costello) is associated with at least 20 companies in Washington state. GRN’s website states that they “are proud to manage an overperforming portfolio of brands” (2) but they only 5 are listed on their website; One Source CBD, Pacific Media Group, Pacific Merchant processing, Seed Science CBD and Soulshine Full Spectrum CBD.
One Source CBD’s website is currently down (3). Seed Science’s main website page clearly states that their products have not been evaluated by the FDA (4) and their Instagram page is currently not accessible (5).
We have been unable to find Pacific Media Group’s website. Soulshine’s wide spectrum CBD’s website (like Seed Science CBD’s) states that the statements on the website have not been evaluated by the FDA in a disclaimer at the bottom of their website’s main page (6) and their Policies website appears unfinished as it is filled with senseless paragraphs which make reference to a pharmaceutical product Gabapentin/Neurotin an anticonvulsant medication (7).
Pacific Merchant Processing’s Instagram page is currently inaccessible (8). Their Facebook currently has four likes and 5 followers despite being up since 2017 (9).
One would think that if the firm’s in which GRN Funds invests are “overperforming” they would present themselves competently or at least have a better online presence. Furthermore, as revealed on a Seekingalpha article, GRN Funds is not registered as an investment adviser with the SEC (10). Hardly what one would expect to find when having a look at the investments of a fund that claims to manage over £1 billion. This is undoubtedly suspicious, we let you be the judge.