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BC Cannabis store. Cannmart products have always been in limited quantities. That I have seen. Just a few joints in stock. Today four out of five are fully stocked.
Good to see.
I agree that Meni talks a lot about AI. But it is the future of the company. Accumulating data is a big part of it. I also agree that the statement that I made about the company becoming nothing is wrong. They can always cut costs back to the point where they will be profitable. There is no reason why they can't become a small profitable site Selling 30 to 50 mil a year.
I used to be totally focussed on sales but when they went to a consignment style, Meni said that they didn't want to be seen as competition. At that point I began to see a much bigger plan. I don't get the impression that they will be happy with being a small ecommerce site that is relying on Cannmart sales.
I am prepared to be wrong but I think that they want to be like Shopify. So development of software is the key. It is all about AI.
No one is buying this company until they start to show that Cannmart can sell product. They also need to complete their own platform. Why would you buy an ecommerce site that relies on Shopify?
I love this as a long term investment. It is one of those that could become something. Could become special. (It could also become nothing.)
The potential is huge and their execution has improved dramatically since Meni took over. They have a long ways to go though. Cannmart sales are stagnant. Very very poor! Their burn rate has dropped and they are saying the right things about working to improve their business losses moving forward. Their cash position gives them a substantial amount of time to grow organically and to continually develop software. There is new revenue streams coming on line in the near future for them to develop.
Oils, Eatables, rec sales as with BC stores and revenue from software presently in place and anything that they develop in the future.
The SP will go up ,will go down and might just go sideways. Who cares! This is a long term risk investment. It is like going to Vegas and letting it all ride. LOL
Be careful if you are shorting this because if they are developing their own platform and it gets implemented before the end of the year then all bets are off. This baby could run big time.
Four illegal dispensaries were raided. Just a drop in the bucket but it is a start. Some articles written suggest that they should give these sites a chance to get licensed rather then use the police and court system to shut them down.
These places have been given a year to get their act together. Time is up. Not only would they need to apply for their license and then jump through the hoops but they would need to acquire legally produced products to sell.
72% of marijuana sold in Canada is still purchased through illegal means. That means people are still willing to risk purchasing products that may have many different types of contaminants in it. Products laced with other drugs or impurities such as lead.....
I know that the black market will never be completely shut down. Their will allays be local suppliers that have produced a high grade product for their neighbors. They have gained their trust and move it for a reasonable price. But large illegal dispensaries need to be removed from the market place.
It looks like everyone got their 2.0 licenses. Maybe this part of the role out will be better managed by the government. Hopefully they soon shut down the illegal on line despenceries.
It is very sad that you can order on line, anything you want from an illegal site. Companies invest millions to comply with government rules and they must compete with a thriving black market.
Nice job by our government.
I think that we are seeing the final evolution of this company. Management is now full of personal with tech back grounds. Their main focus over the last 6 months has been on improving and developing the software side of the company. I feel and hope that the new platform is pushing us towards separating us from Shopify. I think that the future is going to take us to a point where we can offer companies in the pot industry a fully integrated ecommerce site to consign their products.
With all of the licenses now in place the dream of becoming the Amazon or Shopify of the pot industry is just the completion of their own platform away.
This would be an ideal circumstance for consumers. One site where you can go to purchase anything you want. Any product or brand that you want. Medical or rec. One site that would allow you to purchase anything you want and then have it delivered to your home.
What would be nice is if someone in the company can actually find a way to sell something from Cannmart. Lol
We should soon see some news about their new platform.
My feeling is that they will eventually separate from Shopify. If this happens then the sky is the limit.
Oils are what is the biggest seller for medical patients. Not having oils for the past year has hurt. Slowed their sales to a trickle.
Solid cash still on hand. Burn rate was better then I expected. Hopefully they will get their license for Labs soon. Eatables by the end of the year.
The future starts now!
The potential for a large investor to jump in continues to increase.
Gtec increased sales from $108,000 to over 1 mil from q2 to q3.
How much of that was sold through Cannmart.
Finacials; With this companies history they should always have their finacials released early. Just like last quarter. To me they are already late.
We should see financials this week and maybe some news on their new platform.
Slacha; I agree. The problem is not with the dried products it is with the vape pens. The oils have different carriers that are being heated and sucked into people's lungs. It is not just pot but Tobacco also.
These products need to be researched and controlled.
3rd quarter next week?
Darren would be one of if not the last management personal hired by Sean and Kory. It is all Meni and his high level board members now.
Not sure why people think the company is in trouble. I have seen a ton of progress in the last few months. There is so much potential for their future. They have enough cash to make it for a couple of years yet. They have been working behind the scenes on new sales avenues and improving the software.
Things in the wind.
Cannmart getting the go to start selling in the UK.
The role out of their new platform. ( We don't know what it is exactly but it might separate them from Sopify and that would be huge. Or could be an upgrade on what they have.)
Cannmart Labz getting production license.
The role out of eatables and a bright future for Choklat.
Great news. Oils forsale by Wednesday.
No mention of Labz production license so that is yet to come. It will be interesting to see who's products they will have.
I have been waiting for a year for this to get done. Very nice to hear that they finally got their oil license. Do we know if Cannmart labz got theirs?
We should see a company release first of the week.
So they will now be able to serve the medical market properly and this will open the door for them to sign more clients under the consignment model. They can finally sell a clients full product line.
Now all I want to hear is that the new platform is ready to go and that it is independent of Shopify.
I know that is a lot to ask but I have waited over a year and I'm willing to wait a couple more.
For the government to have controls over the pot industry the first thing they need to do is shut down the black market.
Only 14% of the pot is sold in Canada is moved through legal outlets.
Vapes are what they used to get this company started but it was never the long term solution. Pot is. Oils and eatables will allow for growth.
As far as vapes and please correct me if I am wrong. Some vapes use oils and some just heat the flower to produce smoke.
There is a big difference in the process , right? The vape pens use a product that has a glycol base? Chemicals and additives in these products are probably the issue.
Having a legalized industry that dose research and has controls is why they went this way. Yet the bulk of the products are still illegal and produced with no controls at all.
The government needs to clamp down on the black market and work with the legal companies moving forward.
Get off their ass and get licenses done.
drew5: Their license has always allowed them to sell to governments. What the government does with it is their choice. No amendment required.
Scout72; The closer they get the greater the chance of attracting a large investor to finance future.
This new deal with the BC government and hopefully more could encourage small illegal produces to use Namaste to go legit.
Go from hiding in the woods to selling your products directly to the government. LOL
Now they can market your products to medical patients or to the rec market.
Scout72; I had read that earlier and appreciate the share. Eric does not come out and agree that the platform will separate them from Shopify. No doubt that would be a touchy subject.
I have emailed him and asked the specific question of whether it will separate us from Shopify but no answer yet.
Only time will tell whether this new platform is another upgrade to their system to prepare for a global readiness yet continue to work with Shopify.
Or their own platform that allows them to make the rules and control what and how products are sold.
Shopify needs to be concerned about maintaining their global platform for more then just pot. It is a small part of their business.
Namaste has an opportunity to supply a global marketplace that focusses entirely on marijuana. One that can supply research and tech to everyone who wants to sell locally or globally. Help with all of the compliance issues that will arrive as the market expands world wide. Build a market place that allows the worlds variety of strains and products to be accessed by everyone no matter where they live.
I am hard on these guys when they screw up but still see so much potential. As long as they can control their spending and continue to build the revenues we could see this company become a major player in the future.
Namastes world wide investments are growing and doing well. It is why I hope that the new platform that Meni keeps talking about separates them from Shopify.
They would have so much more control over their future. We are sitting with oils that could be imported into Canada. Owning their own platform where they can market products from all over the world into countries that have stepped up and made pot legal. Being ready to slide into new countries as they come on line. Build research info on strains that are grown in different climates and soils.
The government should just give us a rec license for buds2go.
We have product that is properly controlled. So give us the tools to market it. Medical, Rec, why should the government care. They need to help companies to succeed not hold them back. They have made pot legal but are still allowing the black market to flourish.
They should be giving well managed companies every tool required in a quick an efficient manner.
So we are a medical company and we are going to supply products to a government outlet to sell in the rec market. Interesting
Maybe we can unload the 6000 kg of Supreme that we are contracted for.
Meni says that the new global market place is in testing stage.
He dosen't explain what it is though. Does it separate us from SHOPIFY?
PureGlobal just got their oil licinse. They had what is called a pre sales inspect notification given to them from HC back in March.
Does anyone know if we have had a pre inspection yet.
Thesilverbear; LOL
Creepin? Down?
Just saying to expect it. There will continue to be those prospectors hope to catch the run that will happen when the license gets announced.
If they don't make an announcement about licensing today people will cash in.
Greenwillow; If that gets them away from Shopify then it would be huge.
They would be able to finally market products from all over the world.
Oils today? Or will we see another Friday go by.
What is the big news.
This is what could make Namaste the best investment in the pot industry.
It will only take a few things to go right to make them profitable. They should be able to get their expenses down quickly as they are not involved in building large infrastructure .
They need to finally get the oil licence that has hampered them from selling what most medical patients are looking for.
Then they need to get oil supplies and Labs will be part of that but they may also be able to import products.
Eatables will be another catalyst to drive buisness and profitability.
Britain!!! 90 mil people.
Then they will attract a big investor who could help them see their dream of becoming the leader in this sector.
I think they are showing signs of the true potential that some of us long term investors hoped for.
Time keeps on ticking, ticking into ....
Sweetsweetlove; Is our website in Brazil up and running?
Mrone; Ya , we will see tomorrow. Lol
It would be nice to see some big days. Big days without the selloffs. Get this thing back over a dollar.
Meima1955; You mean "if" they grant them their oil sales license?
Their oil sales was applied for at the same time as their dried. Yet they don't have it. Over a year.
Sept 10/18 They put out a release that said they were stocking product for the sales license. Preparing to get Cannmart up and running. It said that they were stocking dried and oils for the opening. So they were expecting to get both dried and oils. Something went drastically wrong. Almost a year and we are still waiting to get oils attached to our sales.
They say it is HC that they are waiting on.
Red is the new green
Brian says so.
Thesilverbear; Yes Brian