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Lifeless is what they should have called it.
I see Nam is still doing those stupid releases.
Ya, we thought we should let you all know how far behind we actually are.
So Labs was to be the great savior but they are just in the development stage. LOL
It could take a year to get products on the market that are winners. These types of companies take a while to get a faithful loyal customer base.
They only have 3 Q's of cash left and are a long way from breaking even.
The ones who sold will be able to buy back and acquire 3 times the amount of shares for same investment.
This will continue to drop until Q3 and if it is bad then all bets are off.
Down , down , down.
There is something really off about the level of spending with this company. Especially since they realized that the entire buisness plan was a failure.
They new years back that the medical sales avenue was a massive flop. Yet they have continued to spend on developing software at an unsustainable level.
They are either exceptionally stupid or this company will quietly go under and the software will show up somewhere elsewhere.
Why do they continue to spend in an unsustainable manner.
I am watching the progress that is being made and can always grab some more if it goes. Before any big investors jump into this they will need to show that they can sell .
On line B2B sales.
I kept a few thousand just incase they manage to pull a rabbit out of their hat.
When you follow a company for several years it is hard to let go. Plus I feel like I have earned the right to call it like it is.
With all the added sku's you would think that their sales would be improving.
B2C sales have never taken off and this reared it's ugly head again in Q2 results. They added 500 plus sku's through Q2 yet they lost ground. The only thing that can save this company is B2C sales. If they can't find away to sell online then their done.
Meni has failed miserable. Spent huge on e-commerce with little to no results. The wellness gig will be no difference.
5 cents after Q3.
Why buy something for 12 cents when you can buy it for 8 cents next week.
They don't have the cash to last long term. The way they are spending money they only have about three Q's left.
Another cash raise in the works? Tell us the truth Edward.
This next Q will need to be exceptional. 12 to 14 mil. If not they will need more money to continue. The way these guys move it will take a couple years to get the wellness platform making enough money to be profitable. If it is ever profitable at all.
In Q4 they will add another division that will needed to be supported with cash raises.
They have put together some interesting pieces. We all agree. The problem is that none of the pieces produce revenue. Meni has no plan to get to a position where they will achieve good revenues with decent margins.
This wellness thing is just him throwing something at the wall and praying that it will stick. They are going into a highly competitive market and have no record of being able to deliver at all.
Why would any of us have faith that these guys will succeed.
This company has the worst CEO on the planet.
When was the last time he promised something and delivered?
They have had no online sales since Sean was here yet they have invested tons of shareholders cash into new platforms that still have no sales?
They added 500 plus sku's through Q2 and sales went down? What? Ya, they went down. Bizarre!
Cannmart used to show a link to the US store. It is gone. Does the US side even operate anymore?
We are told not to worry because there is some great new things coming down the pipe. Meni is so excited but he can't tell us. So they are going to start a new wellness platform that will revolutionize the industry. So far the great Vendorlink has turned out to be a massive flop yet we are supposed to believe that they can be successful breaking into an industry that is already fludded.
They are preparing for another cash raise.
Even on a long play there is a time to pull the plug.
For me, this it.
I have owned some of this for a few years. Just sold most.
Here is my take.
When Meni took this over he as we all know did a big evaluation. Then they started to restructure the company. One of the things they did was to put Labs on hold and spend huge on e-commerce.
BIG BIG mistake.
They new at that point that the on line sales were going nowhere. After spending 50 mil it is still going nowhere. Actually it is going down.
What he should have done was swallow his pride and get a deal done with Choklat. They should have made an offer he couldn't refuse to get him out.
Then they should have put all their efforts on getting Labs up and running.
A running Labs and Choklat producing eatables would have paided the bills.
I think these guys might still survive but there will be another cash raise coming.
Very bad management.
If there is a link for today's presentation could someone post it.
I wonder when the Heritage products will start to show up?
TGod is no longer filling orders directly to medical clients.
They will pass them on to certain wholesalers. So far they list Shoppers, Shelter and Abba Medix.
They make NO mention of Cannmart.
We may see this become the norm for medical. LP's may connect with companies like Shoppers and hopefully Cannmart.
Cannmart sales. 2.6 mil. 2.4 mil was from wholesale or B2B.
That means Cannmart and Vendorlink sold a grand total of $200,000.
They have probably spent $50 mil to develop Vendorlink and upgrade Cannmart.
Their focus was not in the right place. Labs should have been the priority. They could have build their own building for that kind of cash.
I think they are going to survive but Meni's focus on the AI software was misplaced.
He has failed and needs to go.
I get a kick out people who brag about buying black market.
Purchasing some flower is one thing. Why would you buy anything that has to be processed. How do you know that it is being produced in a clean facility. None of their facilities need to pass any health rules. You can buy legal products as cheap or cheaper then the black market.
Cannmart sells some of the best products on the market. You can write it off on your taxes. Get it delivered to your home. With a little planning you never pay for shipping and always have a good supply of premium goods.
The Canadian market is around 3 billion a year. Cannmart only needs a small % of that to be profitable. They don't need to dominate the world to be successful. They just need to build a solid loyal customer base.
Many of the products on Cannmart that are being listed through Vendorlink will be shipped directly from the manufacturer. Many of those manufacturers will have the ability to fill those orders from within the province that it came from.
In Saskatchewan the rec orders should be shipped from the nearest Canna cabana store.
Thanks for all those .25 cent shares. Just keep it coming. Yup, yup , yup. Lol
You might think that being rated as one of the best in the industry Findify was turning a profit.
Well, not yet.
It is good to see it getting recognized.
Labs should help and I will assume that the cost of maintaining Labs over the last few Q's has been part of the problem.
At some point they will need to examine every aspect of their company. Their labor cots have always looked extremely high.
The only thing that is positive is the improved revenues. Margins went down and cash burn is still way too high. There is no guidance on how they will achieve profits.
It looks like Cannmart has a new format also. Or I haven't looked for a while.
Everything is in place now.
Labs, Vendorlink platform is starting to show promise in Canada and entrance into US has been approved. Should be active in a week or so.
The icing on the cake would be a large partner. This would be good timing for an investor to step forward.
Vendorlink allows companies to upload their product catalogs to be sold along side of Cannmarts products and accessories.
That is an explanation from the first release they put out on Vendorlink. My guess is that the new deals with Hexo and others is to join Vendorlink. Their is nothing stopping them from establishing this platform for medical sales Canada wide.
They will need to get back in the good books with Quebec.
As soon as I seen Cannaccord make that deal for 65 million shares at .35 cents. I figured things would stabilize. They have way too much to gain to allow the manipulation to continue. Maybe it will now get manipulated in the right direction. If this goes back towards it's all time highs Cannaccord has access to a ton of shares. They have the potential to make a bundle.
Nice to see a steady slow climb. I don't follow the charts a ton but this just feels different.
Feels more stable.
Dose anyone know what the current short interest is right now?
Well that was rather anticlimactic.
"I am hiring a firm next week to look at doing a site visit video.
Thanks for the email"
Edward
I have been asking for more info on Labs. Something visual , so we cans see what we are investing in. This was Edwards answer today. I hope he follows through with it.
This guy does seem to be trying to do his job in a professional way.
Financials will be released on or before March 30th. We issued our Q1 estimates so shareholders were made aware the company is making real progress driving strong revenue growth.
We look forward to continuing the execution of our strategy and keeping you abreast of future developments.
Keep well and safe,
Edward
So they will be using the 30 day covid extension.
Investors need to know what they are investing in. This is a TSX venture stock. Go and do some research to see what their requirements are for year end reporting.
Every year we have to answer the same questions.
Another Friday will come and go? I am beginning to wonder if these guys know what they are doing. They say that they help others to with all the government rule and regs. Yet, they can't get their own issues in order.
I just tried again and it just comes up and say initializing. i tried a different web browser but just get the same thing.
Maybe it doesn't like Canadians. LOL
The video doesn't work. Should have known. LOL
They haven't got it on their site yet either.
You need a new schtick.
Hopefully it is good news.
Now we are halted.