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Does it mean we all ILNS investors lost all our money and we all will not have a chance to Recoup our money back ?? Or other chance to screw and put Maza and his gangsters in jails ??
No, it’s Aurora. And they’ve now written off 1.5 BILLION of the Goodwill in just the last 6 months ending 12/31/19 - WELL BEFORE all this market turmoil. The details are below -
What have you all talked about? Here is Ilns message ? Anyone have and know what is going with ilns ? What we can do to recoup our money back? Chain and Maza should be in jail right now?
Goodwill is their biggest asset? What planet are you looking at? Convertible debt?
Financial lowlights (in 1,000's) as of 9/30/19. Their cash balance can't even pay their current liabilities:
Assets Current Cash and cash equivalents 152,526 Intangible assets 682,694 Goodwill 3,173,006
Total assets 5,606,799
Current Accounts payable and accrued liabilities 163,579 Convertible debentures 248,617 Loans and borrowings 25,977 Contingent consideration payable 22 25,411 Convertible debentures 264,806 Convertible debentures 264,806 Loans and borrowings 256,328
Total liabilities 1,140,389
This is a Company on the precipice of a collapse.
Almost SEVENTY PERCENT of their assets are "Intangible;" meaning NO VALUE other than what the Company believes the value to be. Those should be written down to ZERO.
Actually, I checked on 12/31/19, and they decided to write-down that "Goodwill" by almost 800 MILLION in just THREE MONTHS! 1.5 BILLION in just SIX MONTHS!
management concluded that the carrying value of the cannabis operating segment was higher than the $3.9 billion recoverable amount and recorded impairment losses of $762.2 million during the three and six months ended December 31, 2019 (three and six months ended December 31, 2018 - nil). The impairment was allocated entirely to reduce goodwill for the cannabis operating segment. The impairment loss was recognized due to a change in overall industry/market conditions, a change in management’s forecasted sales and profitability outlook and a realignment and refocus of strategic plans to meet market demand.
They have equipment that is cost basis of another billion and then a bunch of "Inventory" and other assets that have no quick realization. So that leaves 150 million of cash to service 1.140 BILLION of debt.
Wtf I believe there are 5 or 600 institutional holders.
"Institutional holders" is a VERY relative term and who are those major institations holding large positions? And not a lot of those players are interested in a Canadian company that's highly leveraged teetering o the ledge.
They have an interim CEO, so in your mind they won't hire a high flying CEO even though they are actively looking to hire one?
No "high-flying CEO," with a quarter of brain, let alone half of one, would touch a Company like this with a million foot pole, let alone a 10 foot one. That would be a career move carrying a death penalty.
Lol, sit down., sheesh
Sorry, but those are the facts. It's not only not pretty, it's pretty ugly.
The guy got beat with ILNS. If he had taken that advice on ACB, he'd be stuck with two losers - only ACB is ready for an eventual collapse, which would easily eclipse that of ILNS in terms of valuation.
I misspoke. They are not the only producer, but the only Canadian owned producer/ supplier. There is also Canopy. They have entered their asset as " goodwill" so you may be confusing the two. They've tapped the convertible market as their finance facility of choice. They have some fairly large balanc sheet problems, and I suspect they'll likely be acquired, perhaps even by Aurora down the road. I don't know that much about them however, and it was over a year ago I looked into them and decided that ACB was a much better bet.
They now have 2 unimpressive quarters out which basically shocked the street
Nothing shocking. It's a saturated market. And, Dude, it's not the "stock market." It's a Canadian CBD supplier. They're a dime a dozen. Sure, they got some funding, but there will not be any "high profile CEO" to save the day. It's fad CBD with so many players now, there is no longer money to be made. Competition is "dropping like flies" because there just isn't money to be made on it anymore.
The good news is that the balance sheet is relatively strong and other players in the sector are dropping like flies.
The balance sheet is NOT relatively strong. Their biggest asset is goodwill. What's the value of goodwill in a saturated market? They need to write that down to almost nothing. And they're liquid to the tune of about 150 mill with 1.1 BILLION of debt - good chunk of that loaded with convertible debt.
Long term, say 5 years out, I think they'd need to really screw up not to have a +$100 PPS If they bring in a high profile CEO, it would triple from the current $1.00 PPS virtually overnight.
You had said "by the end of the year." That was December 2019. The market was FLYING then. This kept going lower and lower and lower...
There are almost a BILLION shares outstanding - 961 million to be exact. There is NO WAY that Company is going to have a $100 BILLION valuation. NO...WAY.
Lots to consider.. the first run up was a blast, and likely not the last.
Nothing to consider. It's cooked. Stick a fork in it. It's (over)done.
Dude it's the stock market. The company dropped the ball in a bad way. They now have 2 unimpressive quarters out which basically shocked the street
I think in another year or so once retail stores are abundant, they'll be rewarded. Until then it's going to be a shit show and may test 50 cents. The good news is that the balance sheet is relatively strong and other players in the sector are dropping like flies. Long term, say 5 years out, I think they'd need to really screw up not to have a +$100 PPS If they bring in a high profile CEO, it would triple from the current $1.00 PPS virtually overnight.
Lots to consider.. the first run up was a blast, and likely not the last.
After the verdict ( settlements) , what we all ilns investors can do / go from here to get/ recoup our Hard earned money back from these crooked greedy people? Did you get any money yet from the settlements ?
Can we ILNS investors and our lawyers Call SEC to complain about what Maza , Chain ... have scammed and stolen very hard earned money from innocent people and seize their assets to return money to innocent people??
David Blech is co founder in Tau Bio-Logic Corporation, now tauc3 biologic limited. He and Dr. Chain and Maza shut Down Ilns to take the most promissing science and patents private - TAUC3 ANTIBODY
Hopefully you took my advice; ACB is now over ten bucks, a double from when I told you. Read the rest because it's not even close to being too late to get in. At the rate it's moving, 100 bucks is plausible
At this point, buddy, I don’t even know that God would jump in to make that true, although there are 10 days to go. Never give up hope - in anything.
Hopefully you took my advice; ACB is now over ten bucks, a double from when I told you. Read the rest because it's not even close to being too late to get in. At the rate it's moving, 100 bucks is plausible this year.
Bought some yesterday! I figured at $2.58 now that if it goes to $100.00 by 12/31, we’ll both be IN DA MONEY! Fingers crossed!
Hopefully you took my advice; ACB is now over ten bucks, a double from when I told you. Read the rest because it's not even close to being too late to get in. At the rate it's moving, 100 bucks is plausible this year.
Are you still Long ACB and do you still see 100 bucks as plausible this year? Thanks!
Look at ACB at 5 or 6 bucks. It will double this year, and in a few years liking North of 100 bucks.
Do you still have faith in it? I read that they’re investigating it now for securities fraud. It’s at 2.30 now; less than half of where you were talking about it and a long way from 10-12. Just wondering if you’re still in it and if you think it has potential. TIA.
Hopefully you took my advice; ACB is now over ten bucks, a double from when I told you. Read the rest because it's not even close to being too late to get in. At the rate it's moving, 100 bucks is plausible this year.
I’ve stayed out of the CBD craze, but you still see 100 bucks as plausible? That would be a 100 billion market cap, though. TIA.
Hopefully you took my advice; ACB is now over ten bucks, a double from when I told you. Read the rest because it's not even close to being too late to get in. At the rate it's moving, 100 bucks is plausible this year.
I'd say that instead of pumping this POS laden with crooks and scams, as I've pointed out for over a decade, you should have been taking notes and and performing actual due diligence, instead of spouting all the nonsense that this scam company was trying to lay on people. So here you are doing due diligence when it's far too late after you helped get other suckers into this disaster.
Here's some more advice, the last you'll get from me.
Move on, get over it, stop internalizing it, and enjoy your life. You might also want to consider not investing in this manner, because you are really bad at it; perhaps it's due to your difficulty with English, I don't know.
Might be a good idea to look at some big IPO's coming up, Uber, or take a look at the cannabis sector, something I mentioned way back here in 2008. Look at ACB at 5 or 6 bucks. It will double this year, and in a few years liking North of 100 bucks.
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