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I would rather hold and ride the stock higher, it has the potential but something is keeping this pps down in my opinion . Imo
The link... I wonder if Cvsi should be aware of this company . It appears like a lot of cut and paste in their amateur web site . It appears they are trying to take advantage of cvsi when and if they use New Harvest in the near future. Jmho
https://newharvestpharms.com/
This is what I found so far...They are not allowed to use the circle R in their ad I don’t believe they are professionals. Like Bruce said in his interview, sounds like a garage operation in my opinion.There is something wrong in Denmark you understand.
Hopefully the USPTO will Cease and desist if they find out they are misleading the public with their trademark application before it is federally registered. They should have a TM instead of a Circle R
https://newharvestpharms.c
What makes New Harvest Pharms® so effective?
GET TREATED TO NEW HARVEST PHARM'S® WITH CONFIDENCE. GET REAL RESULTS OR YOUR MONEY BACK!
Maxwell weeeee. Could you do the Wolf A favor please. I don’t have a Facebook account. Just recently this Facebook account appeared on my smart page search engine. It is a company that was formed on April 4,2019 and they applied for a Trademark On April 22,2019. Here is a link, If you can research it and follow up, it would be appreciated. Thank you..Are you related to Maxwell the Geico Pig? ahooooooo
Our trademark was examined before the Pharms was registered and examined. We win...the Kentucky Derby you understand.
It is a llc from Lexington,Kentucky.
https://www.facebook.com/pages/category/Medical---Health/New-Harvest-Pharms-2840392452852818/
https://tsdr.uspto.gov/#caseNumber=88372162&caseSearchType=US_APPLICATION&caseType=DEFAULT&searchType=statusSearch
New Harvest Pharms Trademark
https://app.sos.ky.gov/ftshow/(S(vd2rl3zmxg3cnmf4f55g3lfg))/default.aspx?path=ftsearch&id=1054312&ct=06&cs=99999&ce=O6LO9Doe8%2b5hpE6CyiBvGZE9xLkMHV%2fwkBCGXAcmcbZNsiYW7Eo2OA1n7%2b96wEZv
New Harvest CVSI
https://tsdr.uspto.gov/#caseNumber=88285809&caseSearchType=US_APPLICATION&caseType=DEFAULT&searchType=statusSearch
Between 2011 and 2013 Mike Lee spent two years at Crystal Creamery. During that time the company was re-branded from the Foster Farms name from its origination in the Late 1930’s. Mike had spent 15 years with Gallo wines. While working with Constellation Brands in Victor, New York, he was involved with the acquisition of Canadaigua wines to Gallo and now is the CFO of Canopy Growth Corp.
https://www.newyorkupstate.com/news/2019/04/constellation-brands-cuts-ties-with-its-upstate-ny-legacy-canandaigua-wine.html
VICTOR, NY -- One of the world’s largest alcoholic beverage companies grew out of a small winery established on Canandaigua Lake in 1945.
Canandaigua Wine Co. became Constellation Brands in 2000, and has since become a global giant in wine, spirits and beer, with more than 100 brands in its portfolio and more than $8 billion in annual sales.
In a deal announced last week, the publicly held, Victor, N.Y.-based Constellation has agreed to sell 30 of its “low end” wine and spirits brands to the big California wine company, E&J Gallo. The price tag is $1.7 billion.
From 2013 to 2018, Constellation’s stock (STZ) grew by more than 255 percent. (It had become a publicly traded company in 1973.) In January, however, it reported slower sales, primarily in the lower priced end of its wine portfolio. It also reported some weakness due to the expense of the Canopy Growth cannabis investment.
Constellation plans to concentrate on its higher end brands, like Robert Mondavi and Ruffino wines, Svedka vodka and High West whiskey, and Ballast Point and Funky Buddha beer, as well as Mexican beer imports Corona and Modelo.
It was easy to miss this part of the news: One of the wineries Constellation intends to sell is Canandaigua Wine, at 116 Buffalo St in the city of Canandaigua.
That, essentially, means Constellation is selling the piece of the company that gave it its start.
Gallo will acquire Canandaigua-based wine production facilities that employ about 200 workers. The sale includes established Canandaigua-produced brands like Richards Wild Irish Rose, Arbor Mist, J. Roget and Manischewitz. (Constellation will retain the high-end Finger Lakes brand 240 Days.)
Although it means Constellation is moving on from its legacy brands, it fits the company’s long-term strategy, said Jim Trezise, the former head of the New York Wine & Grape Foundation and now the director of the Washington D.C.-based trade group, Wine America.
In its statement, Gallo, which is family-owned, said it plans to promote its brands across the price spectrum.
“We believe the additional brands as part of this acquisition will build upon our already diverse portfolio of wines and spirits and provides us with increased production capacity to fuel future growth,” Gallo said. “While we continue to invest in our premium and luxury business, we see a tremendous opportunity with this acquisition, to bring new consumers into the wine category. We will continue to provide our customers and consumers with quality products at every price point.”
https://www.newyorkupstate.com/news/2019/04/constellation-brands-cuts-ties-with-its-upstate-ny-legacy-canandaigua-wine.html
Crystal Creamery (formerly Foster Farms Dairy) was founded in 1941 by Max and Verda Foster in Modesto, California, a venture following their 1939 founding of Foster Farms. The company claims to be the "largest privately owned dairy in California."[1]
In 2007, Foster Farms acquired Crystal Cream and Butter Company, based in Sacramento, from HP Hood. In 2009, Foster Farms Dairy acquired Humboldt Creamery, based in Fernbridge, California (near Eureka). During 2012-2013, the company re-branded itself as Crystal Creamery.[2]
https://en.wikipedia.org/wiki/Crystal_Creamery
One more thing. In the interview Mike Lee mentioned he was also going to implement revenue segmentation amongst the acquirerd principals. Here is a link.
https://www.accountingtoday.com/opinion/revenue-segmentation-a-framework-for-transformation
Revenue segmentation facilitates the shift, transforming a loose confederation of book-of-business-oriented CPAs into a focused team of leader-driven specialists. Identifying revenue opportunities in this way lays the foundation for exploration by market which, in turns, leads to discovering the precise services your target markets want and need.
Here’s how it’s done
Imagine a kind of spreadsheet in the sky, with industries listed across the top, service lines down the side and, comprising the body of the spreadsheet, the revenue contribution of each of these rows and columns, with their totals representing firmwide revenue. Now bring the image back down to earth, get it on a spreadsheet, and you’ve got revenue segmentation.
The next step is to identify revenue segment leaders for each row and column total. These are the key people in your firm who will be responsible for the strategic direction and financial health of their row or column. As they take on this responsibility, they transform beyond book-of-business partners to a mindset of business unit leaders.
Your revenue sources are a reflection of where you’ve had market success. Now it’s time for the leaders to explore each market to identify which innovative, technology-based services, in what industries, hold the greatest potential to drive profitable growth. They do this through diligent discovery, interviewing key individuals, and determining the “hot spots” for innovation and growth within the indicated segments.
Without a robust scaffolding to support your growth, you’re left grasping at the flimsiest of supports. Like assuming that the innovation du jour, the one the firm down the road is pushing, just might work for you. Or choosing a technology-based service because someone in the firm has relevant experience.
These methods have just about everything wrong with them. Especially the fact that they involve looking at the market “from the inside out,” rather than from the outside in. That is, perceiving the situation from your perspective, rather than that of a potential buyer.
A revenue segmentation-based approach permits you to deploy human capital and other resources where the possibility of success is greatest. It lets you align leadership with service lines and industries — existing, retooled or new — that reflect the market.
Consider the example of data analytics. Sure, it’s a hot topic, but how do you know where it will be valuable for your clients and profitable for you? Too often a firm will pursue a service line based on a non-market factor, like the presence of a team member with relevant experience, such as data analytics in manufacturing.
Compare this with a focused approach that uses revenue segmentation to expose market-level opportunity. Rather than data analytics, the exploration might lead you to conclude that cybersecurity in health care is the technology-based service with the most upside potential. You got there by looking from the outside in.
Revenue segmentation also permits you to avoid costly mistakes — racing down blind alleys and throwing investment dollars at initiatives that are not backed by solid market indicators and supporting investigation. I know this benefit personally, having had to unplug several once-promising initiatives over my consulting career.
In each case I had the advantage of being able to get off the path in time, without losing excessive time and resources because I persisted too long in the wrong direction.
At the end of the day, the market always wins. And failure to listen to the market can cost you dearly. Try revenue segmentation. It’s a superhero of an approach with the power to lead you into strategic growth choices and resource development, essential in a world as fast-moving and technology-driven as the one you and I inhabit.
https://www.accountingtoday.com/opinion/revenue-segmentation-a-framework-for-transformation
In the interview I highlighted in red, Mike Lee mentioned integration of acquisitions and applying accounting practices accepted by GAAP/USA standards. Here is a good link to help one follow the practice. It is nice if the acquisitions utilize the same accountant firm such as Deloitte and a CFO who is familiar more on the accounting side of the lane, if you catch my drift.
https://www.journalofaccountancy.com/issues/2019/mar/accounting-for-business-combinations.html
FEATUREMANAGEMENT ACCOUNTING
Mastering accounting for business combinations
Mergers and acquisitions present challenges that finance can overcome by staying involved with the deal and preparing in advance of the closing.
By Maria L. Murphy, CPA
March 1, 2019
When accountants face the prospect of a business combination, there will be many challenges to prepare for in the deal and the accounting for it.
One of the first challenges is the strategic decision-making about whether the deal is right from a business perspective.
INVOLVEMENT WITH THE DEAL
Since finance may not be leading the acquisition process, it is critical that it has a seat at the table and a strong partnership with the business development team throughout the transaction life cycle. In that way, finance will understand the deal's rationale, critical contract terms, and where the value drivers are.
"In a typical case, the business development group has done their due diligence, analyzed the target, developed the price, and determined the value drivers. Then the deal is closed, and the torch is passed to finance to do the acquisition accounting," McGahan said.
He said that if there is a lack of communication with the deal team, and finance doesn't understand the value drivers — such as a business that was acquired for a customer list or a platform that was too difficult to build internally — it will be much harder to apply acquisition accounting and properly value assets acquired and liabilities assumed.
Finance needs to ensure that it does not get left out of the due-diligence process, because it can add value to the negotiations and help determine the best accounting and tax outcomes.
"Being part of due diligence can help finance understand the business being acquired and uncover areas where things can go wrong. Otherwise, you may not know what you don't know," said Linnae Latessa, CPA, corporate controller and chief accounting officer of USI Insurance Services.
Finance can reduce risks and avoid surprises by advising the due-diligence team against doing things in the transaction based on the potential financial impacts post-close, Saito said.
UNDERSTANDING GAAP
Accounting for business combinations is complex and requires considering a number of areas, including the following:
Identifying business combination transactions.
Identifying the acquirer.
Determining the acquisition date.
Measuring the consideration transferred.
Recognizing and measuring the identifiable assets acquired and liabilities assumed, and any noncontrolling interests in the acquiree.
Recognizing and measuring goodwill for a gain from a bargain purchase.
Topic 805 provides guidance on the accounting and reporting for business combinations to be accounted for under the transition method.
VALUATION
One of the biggest challenges in applying acquisition accounting is the requirement to estimate the fair value of assets acquired and liabilities assumed. Valuation is challenging and requires a lot of judgment, which needs to be supported. Irrespective of whether the valuation is performed internally within a company or by an outside third party, finance needs to be aware of fair value accounting requirements and involved in the valuation process.
"Fair value using the concept of what 'market participants' do in arm's-length transactions may be a foreign concept," said Saito. Also, things may need to go on the balance sheet that were never valued before, like internally developed intangibles, intellectual property, know-how, and brands.
Valuation is frequently based on cash flow models. "Does the company have cash flow models? If so, how do you adjust them to reflect market participant assumptions? Where are the cash flows associated with the valuation? How do you translate deal price of '10X EBITDA' into cash flows?" asked Saito.
Some companies may perform the valuation themselves internally. If they do, it is important for finance to have the necessary expertise and to work with the external auditors to make sure the documentation and support that finance develops for the acquisition accounting is adequate for the auditors' needs.
Many companies use third-party valuation firms for their fair value estimates. Latessa recommended that transactions over a determined dollar value have an outside valuation. If a third-party valuation firm is used, management must be comfortable with the outcome of its activities.
"The valuation firm works from the assumptions the company provides, such as revenues used to value trademarks, and specific customer revenues and attrition rates to value customer intangibles," said McGahan. "At the end of the day, the financial statements are the company's responsibility. Mistakes in valuation in the financial statements are on your watch."
McGahan also advised that successful companies have an integrated approach to the valuation process, which includes the business development team and finance. The valuation experts should be given the deal's model assumptions (discount rates, internal rate of return, hurdle rates, and cost of capital) and the final version of the deal model to use, and everyone on the team should review the valuation output for reasonableness.
"Work with a good quality valuation firm, ask a lot of questions, and understand how they come up with the values," Latessa said. "They know how to run models, but conceptually does the answer make sense? Should 50% of the deal value have gone to the customer list? They should be able to explain why it makes sense."
The amount attributed to goodwill should also be reasonable in relation to the purchase price.
"It's the residual, but accountants should be able to validate it," McGahan said. "If 40% of the purchase price is allocated to goodwill, does that make sense based on the deal or value drivers? Things like future customers, platform, and company-specific synergies all go to goodwill."
This approach will pay dividends in the end, especially since valuation is an area of high audit concern. Because of the prevalence of merger activity in recent years and the many subjective judgments and estimates involved in the business combination process, the PCAOB highlighted its concern about valuation risk in its August 2017 Staff Inspection Brief. The PCAOB also recently issued two new standards that affect auditing of valuations: Amendments to Auditing Standards for Auditor's Use of the Work of Specialists and Auditing Accounting Estimates, Including Fair Value Measurements, and Amendments to PCAOB Auditing Standards.
CHANGES TO GAAP
The fair value challenges aren't the only things that make business combination accounting complex. FASB is continuing to work on initiatives to simplify this area and improve comparability. In 2017, FASB issued guidance that clarified the definition of a business. FASB also has several projects on its agenda that may impact business combinations, including subsequent accounting for goodwill and accounting for certain identifiable intangible assets, as well as improving the accounting for business and asset acquisitions. The experts interviewed for this article all agreed that these efforts have been helpful and made things better operationally.
FASB has also developed private company alternatives related to accounting for business combinations (see "Private Company GAAP Alternatives: It's Not Too Late," page 32). However, the practical expedients for private companies should be used only if the company's financial statements stay in the private domain and the banks will accept this format. McGahan advised: "Most companies doing acquisitions will need to access capital markets to raise money, so financial statements may need to be SEC-compliant."
Financial statement disclosures for business combinations can be extensive, especially for larger transactions.
"The critical assumptions regarding opening day balance sheet values are important for financial statement users," said McGahan. "They need transparent disclosure of significant acquisition accounting assumptions and estimates that are not [derived based on] observable inputs, including how they were developed."
For SEC registrants, operating segments may change based on how the new business will be managed going forward. In addition to the financial statements, there are also management's discussion and analysis (MD&A) and description of business sections to develop and prepare within filing deadlines.
Latessa recommended that accountants look at disclosures of other companies that have done acquisitions, along with networking with peers and others in their network or industry to ask if they have had the same issues that may need to be disclosed. She also recommended getting the auditors comfortable with disclosures in advance, getting their guidance on the requirements, and asking them what their other clients have disclosed in specific situations.
AFTER THE TRANSACTION CLOSES
After the business combination closes, accountants must contend with financial reporting challenges. "You can't just mush the results of the target in with the existing business," said Saito. "Post-close, it's disruptive."
Hopefully, there have been operational discussions in advance about how the new business will be managed, whether as a stand-alone or integrated business. "There may also be challenges with 'operationalizing' the acquisition accounting after day one," McGahan said, "like whether to track acquisition accounting at the parent or push down to a subsidiary, and how to deal with international transactions' foreign currency and deferred tax issues."
The closing process may become very challenging. Accounting policies and practices may be different and may have to be conformed. This may be an opportunity to evaluate existing accounting methods and make changes. There can also be timing issues if the acquired company takes longer to close its books.
If there are different ledgers and enterprise resource planning systems, automatic consolidation may not be possible and manual processes may have to be used. There will likely be system integration issues, especially if the acquired company is smaller and uses QuickBooks. System conversions will require additional reconciliations and verification of data. McGahan recommended that companies' due diligence include IT due diligence upfront to understand the target's IT and financial reporting and plan for it. "The best companies have dedicated teams to integrate IT post-closing to get the target on the same systems," he said.
"The two companies' accounting and finance departments need to form a partnership," said Saito. "Workflows may need to change, and change doesn't happen overnight."
Latessa agreed. "You may need to retrain the acquired company's people," she said. "This results in operational risks that can manifest themselves in the financial statements, so you need to be diligent in reviewing the financial statements when there are new employees involved." She has also experienced situations where the finance staff did not transfer to the acquiring company, so legacy knowledge and experience were lost. She said that in cases where a company buys a portion of another company, the acquired company's accounting may have been done at the corporate level, and it can take six months to a year for the acquirer to understand the business it bought.
Since post-close accounting is difficult, GAAP allows up to a year post-acquisition to finalize acquisition accounting and measurement period adjustments. But in some cases, there may only be 30 to 60 days to do a working capital true-up.
"The further away from the close date it is, the harder it is to remember, and people get busy with other things," Saito said.
Material adjustments to the acquisition accounting made too late can be considered errors as well as deficiencies of internal controls that could require financial reporting disclosure. Saito suggested that acquisition accounting be run like a project, with finance as the project manager, providing all involved departments a calendar of key dates and activities up to the earnings release so that everyone is aware of what has to be done and who has to review it.
Beyond the book close, reporting needs to be in place, including metrics and dashboards for management about the acquired business. A cash flow process should be developed to support the business after the close.
This requires planning in advance. "CFOs and boards of directors do not like surprises," Saito said. "Management needs to be aligned with finance upfront about what to expect."
INTERNAL CONTROLS
To address the issues related to business combinations, it is critical that companies implement internal controls over the integration process. "From my experience, the post-combination accounting is less an issue than is the integration of the acquired entity. Challenges associated with integrating a new company are often dependent on size and scale, but the acquirer may need to consider new systems, processes, and, most importantly, controls," Callahan said.
Another big challenge relates to the controls over the business combination process itself, especially in a company where this may not happen often.
"How robust your process is depends on the frequency of acquisitions. The harder part is that if they are infrequent, you may not know what you should be looking for," Saito said.
McGahan agreed: "Companies have spent their time and effort to develop controls around ongoing daily processes but may not have robust controls for business combinations and struggle with what these are. There is a set of specific controls and procedures that should be in place ... But companies don't spend sufficient time developing these if they are only doing a few transactions."
Post-acquisition, until there is one integrated process with combined controls, companies may struggle to comply with internal control frameworks and Sarbanes-Oxley (SOX) requirements.
"You will have to do more to get your auditors through their test work," Latessa said. "There may be extra work and cost for them to look at both companies' processes, sample sizes will likely be higher, and they will have to do more substantive work."
Under SOX Section 404, public companies must include an internal control report with management's assertions about the effectiveness of the company's internal control over financial reporting, and their auditors must attest to its effectiveness. There are SOX implications relating to the acquirer's internal controls over the acquisition accounting and financial statement consolidation processes, along with the acquired company's own internal controls over financial reporting. If it is not possible for the acquiring company to complete its assessment of internal control over financial reporting of the acquired entity between the acquisition date and the acquirer's year end, in order to assess and report on its own internal controls over financial reporting on a consolidated basis under SOX Section 404(b), there is a relief period of one year from the date of the acquisition during which it may exclude the acquisition from its assessment. Despite this relief, necessary controls should be designed and implemented as quickly as possible.
Another internal control issue is documentation. "If I think about controls that need to be in place, in my experience, substantively companies are doing the work that they need to do. They are not doing big transactions blindly, they have talked to their boards, and management time has been spent," McGahan said. "They do have support for what they've done, but they don't have the documentation all in one place. One of the biggest challenges auditors have is that companies have to go back and pull together documentation around what they've done so that auditors are able to reperform the control."
A company that is doing a material acquisition may wish to talk to its auditors in advance about what controls might be needed, Saito suggested. "This helps with the audit and also gets management comfortable that they have the right controls in place," he said. "No one wants to have an internal control issue down the line."
Accounting quick tips
These simple ideas can aid in M&A reporting. The following general advice can help organizations skillfully handle business combination accounting:
“Plan, plan, plan,” and communicate upfront and throughout.
Be proactive rather than reactive. You will have more time to think about, prioritize, and address the issues.
Finance should be involved in the deal from the beginning and play a key role throughout the process to reduce surprises.
Timelines and deadlines should be set for the integration of processes and people.
Experience helps. As you go through more of these transactions, everyone on the team will be better educated about what finance needs to do.
Reach out to your auditors as a resource, even if you are only thinking about doing a transaction, and be transparent with them if you do.
Early in the process involve valuation specialists (whether internal or external) who will value assets acquired and liabilities assumed.
About the author
Maria L. Murphy, CPA, is a freelance writer based in North Carolina.
To comment on this article or to suggest an idea for another article, contact Ken Tysiac, the JofA's editorial director, at Kenneth.Tysiac@aicpa-cima.com or 919-402-2112.
AICPA resources
Articles
"After the Merger: Creating a Culture of Success," JofA, Dec. 2018
"Not-for-Profits Teaming Up to Fulfill Missions," JofA, Nov. 2018
"Tax Compliance After M&As," JofA, Dec. 2017
Publication
Editor's note: The AICPA is developing a Business Combinations accounting and valuation guide that is expected to be released for feedback in 2020.
CPE self-study
Advanced Income Tax Accounting — Tax Staff Essentials (#157834, online access)
CEIV for Finance Professionals: CEIV Education and CEIV Exam (#158530-CEIVLQN, education bundle; #16-XAM-CEIVLQN, CEIV exam). The Certified in Entity and Intangible Valuations (CEIV) credential program is designed to enhance credential holders' commitment to enhancing audit quality, consistency, and transparency in fair value measurements for financial reporting purposes.
https://www.journalofaccountancy.com/issues/2019/mar/accounting-for-business-combinations.html
Who is Mike Lee? Experienced in Wine and the Wolf's favorite "Spirits" you understand...These former Constellation Brands ee's and current directors are getting around and becoming CFO's and directors..In the case of terminology most likely used by SpaceLady..UFO's....ahoooweeeeooooooo Wolfieeee
Do you think Joerg Grasser knows and has in the past worked paw in paw with these comrades? Do you get the feeling that Constellation Brands like to keep a good grip on their acquisitions? Only the shadow knows you understand....ahoocfooooufoooooo
https://www.youtube.com/watch?v=uMlRpN8ANrU
May 21, 2019
Canadian marijuana manufacturer Canopy Growth appoints former Constellation Brands’ senior executive Mike Lee as the company’s acting chief financial officer.
Mike brings a wealth of experience from the consumer goods & beverages industry, having worked for companies such as E. & J. Gallo Winery, PepsiCo, and recently Constellation Brands, where he served as Senior Vice President & CFO for their US$3B Wine & Spirits Division. He worked closely with Constellation Brands’ executive leadership to transform their premium Wine & Spirits business, applying financial rigor along the way with a true sense of urgency that translated strategy into action. Mike also led the business transformation agenda at Constellation Brands, focused on digital enablement and operating model design. Most recently, Mike has served in the role of Executive Vice President, Finance at Canopy Growth Corporation.
https://www.canopygrowth.com/about/leadership-team/mike-lee/
From Linkedin
Experience
Canopy Growth Corporation
5 months
Executive Vice President & CFO
June 2019 – Present 1 month
Smiths Falls, Ontario, Canada
Executive Vice President of Finance
February 2019 – May 2019 4 months
Smiths Falls, Ontario, Canada
Constellation Brands
5 years 7 months
SVP / Business Transformation
December 2017 – February 2019 1 year 3 months
Victor, New York
Led enterprise-wide transformation, focused on strategy enablement.
SVP / CFO Wine & Spirits
July 2014 – December 2017 3 years 6 months
Victor, New York
Global finance lead for $2.9B division of Constellation Brands. Served as both strategic an operational leader, supporting Commercial and Operational leadership teams in delivery of results.
VP Commercial Finance
August 2013 – June 2014 11 months
San Francisco, California
Finance lead for U.S. commercial business. Supported marketing organization in development of brand/portfolio strategies. Responsible for developing pricing strategy and linking promotion spend to ROI.
VP / CFO
Crystal Creamery
August 2011 – April 2013 1 year 9 months
Modesto, California
Finance lead for a $800MM Creamery in Modesto, CA. Produced a full range of dairy products, including fluid milk, ice cream, sour cream, cottage cheese, butter, other dairy products.VP Finance / Divisional CFO
PepsiCo
August 2009 – August 2011 2 years 1 month
Greater Denver Area
Divisional CFO for a $3 billion beverages business unit. Led finance team of 50, including FP&A, Accounting, Revenue Management, and Business Process Controls.
E. & J. Gallo Winery
15 years 4 months
Senior Finance Director, Operations & Supply Chain
August 2007 – July 2009 2 years
Responsible for financial planning & analysis in support of Gallo's Operations & Supply Chain business units.
Senior Finance Director, Popular BU
August 2005 – August 2007 2 years 1 month
Supported GM in managing a high-growth $600MM wine business unit.
Finance Director, Domestic
January 2003 – July 2005 2 years 7 months
Supported domestic sales and marketing teams in performance management, program evaluation, and financial planning.
Finance Manager, Imports
May 2001 – January 2003 1 year 9 months
Developed joint ventures & strategic partnerships with wineries across Europe, Australia, and New Zealand.
Financial Analyst, Corporate Finance
April 1994 – April 2001 7 years 1 month
Held several positions of increased responsibility during a 5-year period leading up to business school: cost accounting, grower accounting, strategic planning, and corporate planning & analysis. Subsequently took a 2-year leave of absence to earn an MBA at University of Michigan (company sponsored). Summer internship was with company at European headquarters based in London.
Board of Directors Canopy Growth
BILL NEWLANDS – DIRECTOR
Bill Newlands is Constellation’s President and Chief Executive Officer. Bill oversees all operating aspects of Constellation and is advancing its position as an industry leader. In addition to leading the Wine + Spirits and Beer Divisions, growth and national sales organizations, Bill leads the finance, human resource and legal functions. Bill is a member of Constellation’s executive management committee. Bill joined Constellation in 2015 as EVP, Chief Growth Officer. In 2016, his role expanded to include leadership of the Wine + Spirits Division. In 2017 he became the company’s Chief Operating Officer and in 2018 his role expanded to include president. Bill previously served as President, North America at Beam, Inc. Under his leadership, Beam became one of the fastest-growing companies in its category. Previous appointments include President, Beam Spirits U.S. (2008-2010); President, Beam Wine Estates (2005-2007); President and CEO, Allied Domecq Wines USA (2002-2005); CEO and Board director, wine.com (1999-2001); managing director, U.S. and global marketing officer, LVMH Chandon Estates (1996 – 1999). He holds a Bachelor of Science from Wharton School at University of Pennsylvania and an MBA from Harvard Business School.
DAVID KLEIN – DIRECTOR
David Klein is Constellation’s Executive Vice President and Chief Financial Officer. He is responsible for accounting, investor relations, financial planning and analysis, internal audit, treasury, tax, mergers and acquisitions, Constellation Ventures, and information technology. David is a member of Constellation’s executive management committee. David joined Constellation in 2004 as vice president of business development. He also held roles as CFO of Constellation Europe; SVP, treasurer & controller; and CFO, Beer Division. David managed all aspects of finance for international and domestic businesses, optimized the company’s capital structure, and is a key leader in strategy development and execution at Constellation. Before joining Constellation, David held the Chief Financial Officer role at Montana Mills, where he led the transformation from private to public company and then subsequently led the sale of Montana Mills to Krispy Kreme. David also held the Chief Financial Officer role at NetSetGo, an internet and network services startup that won several business and technical awards. Prior to these entrepreneurial positions, David served as the director of mergers & acquisitions at Xerox Corporation and as director of finance & accounting for Harris Corporation. He holds a Bachelor’s Degree in Economics from State University of New York at Geneseo and an MBA from State University of New York at Buffalo.
JUDY SCHMELING – DIRECTOR
Judy Schmeling served as Chief Operating Officer of HSN, Inc., an interactive multichannel retailer, from May 2013 to December 2017 and as President of Cornerstone Brands, a retailing segment of HSN, Inc. from August 2016 to December 2017. She also served as Chief Financial Officer of HSN, Inc. from May 2013 to November 2016. From August 2008 to May 2013, Judy served as HSN, Inc.’s Executive Vice President and Chief Financial Officer. Prior to that, Judy held positions of increasing responsibility within the HSN operating segment. She served as Executive Vice President and Chief Financial Officer of HSN (when it was IAC Retailing) from February 2002 to August 2008; as Senior Vice President, Finance from November 1999 to February 2002; as Chief Operating Officer of international operations from January 2001 to February 2002; as Vice President, Strategic Planning and Analysis from January 1998 to November 1999; and as Director of Investor Relations and Operating Vice President, Finance from September 1994 to January 1998 (during the time when HSN was a separately traded public company). Judy Schmeling is a director of Constellation, a member of the corporate governance committee of Constellation and also serves as Chair of the audit committee of Constellation.
ROBERT L. HANSON – DIRECTOR
Robert Hanson has served as Chief Executive Officer of John Hardy Global Limited, a luxury jewelry brand, since August 1, 2014. Prior to that, Robert served as Chief Executive Officer and a Director of American Eagle Outfitters, Inc., a leading global specialty retailer of clothing, accessories and personal care products from January 2012 to January 2014. Robert served Levi Strauss & Co. from 1988 to 2011 in a variety of important leadership roles across multiple brands where he led cross-functional teams, including merchandising, product development, multi-channel operations, marketing and creative teams, in addition to a full support staff. Robert’s roles at Levi’s included serving as Global President of the Levi’s Brand from 2010 to 2011; President, Levi’s Strauss Americas/North America from 2006 to 2010; President, Levi’s Brand U.S. from 2001 to 2006; and President/Vice President, Levi’s Europe/Africa/Middle East from 1998 to 2001. He is currently part of Constellation’s Board of Directors. Mr. Hanson is a sitting chief executive officer and also a former chief executive officer of a public company and brings to the Board extensive knowledge and understanding of global operations, management, and stewardship of premium brands.
https://www.canopygrowth.com/investors/governance/board-of-directors/
Some insights from the interview..Especially the one comment Highlighted in RED you understand.. CVSI Long and Strong......ahooooooooo E.F.Wolf
June 21, 2019 marketwatch
Canopy Growth Corp. co-Chief Executive Bruce Linton defended the company’s widening paper losses Friday by contending that paying employees with stock is every cannabis company’s financial and social responsibility.
In a telephone interview with MarketWatch on Friday, Linton focused on the stock compensation, contending that giving every employee stock makes the entire business stronger.
“I think people should say, ‘That’s awesome’,” Linton said. “It’s not like Bruce took it all. It’s distributed across the company in a very nice way so that everybody is aligned, works really hard and wants to make it successful.
”“If we had zero stock-compensation loss, we would have a much lower loss and a much worse company,” he continued. “It’s an accounting element that I don’t think makes people appreciate the value of options, that I’m hugely in favor of.
”Linton said in the call that he expects about half the provinces will be able to launch edible products immediately on Dec. 16, when sales are set to begin, adding that the private companies involved are reacting more quickly than the government-run stores. Linton also said that the company believes it can hit a C$1 billion revenue “run rate” by fiscal fourth quarter 2020, mostly thanks to Canada sales.
In the conference call, CEO Linton said that in the long run, Canopy Growth will have the capacity to use its hemp facilities to grow and process marijuana once it’s legalized under U.S. federal law. For its current hemp and CBD operations, Lindon said that there are a number of states that will allow a “full spectrum” of CBD products including drinks, edibles — so long as Canopy doesn’t make health claims.
Chief Financial Officer Mike Lee, who joined Canopy Growth from Constellation Brands Inc. said in the conference call that he plans to implement several changes to the company’s accounting policies: he plans to issue segmented revenue in the future, move the company’s accounting policies to U.S.-generally accepted accounting principals, and attempt to integrate acquisitions more quickly, among other things.
https://marketwatch247.com/cannabis-watch-canopy-co-ceo-defends-large-losses-as-a-deserved-reward-for-pot-companys-employees/
My Fair lady, You are most the post welcome you understand... Happy trails to you. Hopefully Good things for CVSI coming to a theatre near you this week...Here is a link to the "Coast To Coast AM" Theme from "Midnight Express" "CHASE" As in Chase Your Dreams while you are chasing the air waves of the progressives free wi-fi for all....It's the 12 minute version so open it up in another space in time... When I visited Wolfwoman after Hurricane Isabel in September 2003 that knocked down 20 plus trees on their plantation in North Carolina, she mentioned to me that wolf use to listen to George Noory and Coast To Coast AM. There was a tree that was leaning, If it was six to ten feet longer it would have crushed the Wolf's tombstone.She also requested that I watch "The Mothball Prophecy" Movie.. I did...Beware of those red colored lights in the rear view mirror during your traveling...Especially the (no offense to my Law friends) the red and blue ones from those little piggies….Especially Maxwell from GEICO That goes weeeeeeeee.... ahooooooooooo Wolfieeeeeeeeeeeee
Listening to the Sean Hannity show on Friday. Jay Sekulow was filling in for Hannity. The podcast on Jay’s site was the same, but the Radio ads were from local and Hannity shows and not from Jay’s podcast. Only listened for the first hour and a CBDistillery commercial was aired. It appears the FCC is allowing CBD ads on the air waves. Jay and Hannity are contracted under the Salem Communications Network. It was not a local Norfolk, Virginia ad. It was broadcasted nationally.
https://www.oneplace.com/ministries/jay-sekulow-live/listen/jay-sekulow-live-765201.html
March 25, 2019
In the last few months, we probably have had more questions about advertising for CBD products than any other topic. At this point, CBD products seem to be sold in nearly every state in the country, and discussions about CBD’s effectiveness seem to be staples on national and local television talk programs. Broadcasters naturally ask whether they can advertise these seemingly ubiquitous products. Unfortunately, the state of the law on CBD at the current time is particularly confusing, as discussed in this article.
Some broadcasters, after (1) discussion with their counsel, (2) investigation with the advertiser, and (3) some degree of reasonableness (avoiding sales that are done in some dark garage or from the back of a truck on one hand, to possibly being more comfortable with products sold at a big national retailer where there is some expectation that the advertiser has done some of its own due diligence), may be able to satisfy themselves about the question of whether the CBD product that they are being asked to advertise was legally produced and is otherwise lawful. After all, there are plenty of products being advertised on the radio where the broadcaster has never thought to inquire as to whether the product was legally manufactured. But that does not end the broadcaster’s consideration as to whether to run a CBD ad. In fact, there may be far more serious questions to consider, given that a particular type of CBD may be illegal under federal law.
https://www.broadcastlawblog.com/2019/03/articles/advertising-for-cbd-safe-for-broadcasters/
Facebook Fb vs CbD
June 26,2019
Facebook is opening itself up to more advertising from CBD companies.
As explained in a recent Verge article, Facebook banned advertising for CBD or ingestible hemp even though those products were not specifically mentioned in Facebook’s advertising policies. This move resulted in frustration from CBD brands and even a lawsuit that alleged deceptive ad practices.
Now, Facebook has relaxed its outright ban on CBD products, according to an agency source with knowledge of the matter. Advertisers are allowed to run ads for topical hemp across Facebook. Advertisers can run ads that direct to landing pages that feature ingestible hemp and topical CBD. But the ads cannot specifically feature those products.
https://digiday.com/marketing/facebook-tweaking-policy-cbd-ads/
ICR Communications
https://globenewswire.com/news-release/2019/02/05/1710665/0/en/CV-Sciences-Inc-Engages-ICR-to-Enhance-Investor-Relations-and-Corporate-Communications.html
In addition to ICR’s expanded healthcare business, new clients in Q1 include three cannabis industry leaders, CV Sciences, Flowr and Growpacker. Cannabis is another growing area of focus for ICR, which was recently named among the Top 10 Most Effective Cannabis PR Firms by Green Market Report.
https://www.businesswire.com/news/home/20190416005636/en/ICR-Adds-50-New-Clients-Q1-2019
The firm’s highly-differentiated service model, which pairs capital markets veterans with senior communications professionals, brings deep sector knowledge and relationships to more than 650 clients in approximately 20 industries
https://icrinc.com/our-clients/
European Expansion
In this May 30,2019 article it mentions Cv Sciences as a key player? According to an interview, I recall a representative of Cv Sciences stated that the company was focused on the USA market. Rightly so. The little piggy built his house one brick at a time you understand. CV Sciences already has the hemp growers lined up in Europe. It would take lots of monies to expand in those markets. Which deep pocket Company is already established in those markets selling recreational Mary Janes at this time and struggling? Sound familiar Dudley Doright. Enjoy the read. Wolf
http://www.baystreet.ca/articles/marketwatch.aspx?id=1373&mod=mw_quote_news
https://www.barrons.com/articles/canopy-growth-medical-cannabis-germany-europe-51556809157
https://www.marketwatch.com/press-release/canopy-growth-expands-european-footprint-acquires-spanish-licensed-cannabis-producer-cafina-2019-04-16-720200
https://www.fool.com/investing/2019/06/21/canopy-growth-q4-results-the-good-news-and-the-bad.aspx
https://hempindustrydaily.com/canadian-cannabis-giants-stepping-up-investments-in-us-hemp-cbd-market/
Dr. J. Keep those articles coming you understand. We know what Canopy Growth and CV Sciences have in common. We know that the only thing Tilray and CV Sciences have in common is we both have ICR Communications as our communications outlet and promoters,and they acquired Manitoba Harvest on February 24 of 2019 and we registered New Harvest on February 1, 2019. The authors opinion in this article has made it clear that Canopy, Tilray, And Hexo will find it a challenge to enter the USA cbd market with competitors like the itsy bitsy spider and cvsi combined 20 percent of the US market and growing rapidly. We know the strategy of two of the Canuck organizations are, but do we really know Canopy Growth’s strategy, except the fact they want to rapidly acquire all the companies needed to enter the US Cbd market head first, and then slow walk the major part of the picture while their Counterparts are taking it to the wolves. The Wolf Pack finds it hard to believe that Canopy with shares to dilute and 2 billion dollars in their deep pockets would not jump head first into the fire and acquire an easy target like CV Sciences. There is an old saying, “If you can’t beat them join them.” New Harvest, that is the question. The answer is blowing in the wind my friends. Jmho
Hear This.....ahooooooo https://i.pinimg.com/originals/82/7d/f4/827df4f153cf6e3f4c86fca9cfbcd9d9.jpg
Thank you chilling. I just wish I had taken more finance courses in college you understand.
https://www.linkedin.com/search/results/people/?facetCurrentCompany=%5B%2210480476%22%5D
Chilling Who could it be now?
Analysis: Breaking Down Congress’s Vote To Protect Legal Marijuana States From Federal Enforcement
Published 4 days ago on June 24, 2019
https://www.marijuanamoment.net/analysis-breaking-down-congresss-vote-to-protect-legal-marijuana-states-from-federal-enforcement/
In one of the most significant legislative victories in the history of the marijuana reform movement, an amendment blocking the Department of Justice from interfering in state-legal cannabis programs was approved for the first time in the U.S. House of Representatives last week.
In a 267-165 vote, the measure passed handily, drawing support from all but eight Democrats and nearly a quarter of the Republican caucus. The amendment’s passage seems to affirm what advocates have suspected—that broad reform is within arm’s reach in the 116th Congress.
But a closer look at the vote tally reveals subtle trends, dissents, individual vote flips and developments that paint a fuller picture of the state of marijuana politics in the Democratic-controlled chamber.
Dr.J.
The proposal was dead on arrival, the board knew that there would be a majority of shareholders who would not vote. I found it odd that a proxy was sent to my general account which consisted of one third of my shares. The proxy for my IRA was never sent to me...My hunch is that the board members knew that one or possibly more board members were planning on resigning and to protect the remaining board members of their fiduciary duties they chose to add that proposal to the proxy to cover their assets you understand. It was up to the 60,314,285 broker non-votes who had an opportunity to vote one way or another and therefore decided not to vote. Those non voters can't come back and dispute the vote. You snooze you lose. That is what I gather. Now the board members can replace the new board member to replace Gary Sligar. If there is a friendly takeover, it would be someone that the acquirer would want to have on their side of the aisle.. The reason the tally of votes was not listed? You bet your bottom dollar the majority of the 28 plus million votes were against the proposal as well...jmho
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TITLE 8
Corporations
CHAPTER 1. GENERAL CORPORATION LAW
Subchapter VII. Meetings, Elections, Voting and Notice
A majority of the total number of directors shall constitute a quorum for the transaction of business unless the certificate of incorporation or the bylaws require a greater number. Unless the certificate of incorporation provides otherwise, the bylaws may provide that a number less than a majority shall constitute a quorum which in no case shall be less than 1/3 of the total number of directors. The vote of the majority of the directors present at a meeting at which a quorum is present shall be the act of the board of directors unless the certificate of incorporation or the bylaws shall require a vote of a greater number.
(e) Any vacancy occurring in any office of the corporation by death, resignation, removal or otherwise, shall be filled as the bylaws provide. In the absence of such provision, the vacancy shall be filled by the board of directors or other governing body.
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§ 223 Vacancies and newly created directorships.
(a) Unless otherwise provided in the certificate of incorporation or bylaws:
(1) Vacancies and newly created directorships resulting from any increase in the authorized number of directors elected by all of the stockholders having the right to vote as a single class may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining director;
(2) Whenever the holders of any class or classes of stock or series thereof are entitled to elect 1 or more directors by the certificate of incorporation, vacancies and newly created directorships of such class or classes or series may be filled by a majority of the directors elected by such class or classes or series thereof then in office, or by a sole remaining director so elected.
If at any time, by reason of death or resignation or other cause, a corporation should have no directors in office, then any officer or any stockholder or an executor, administrator, trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the person or estate of a stockholder, may call a special meeting of stockholders in accordance with the certificate of incorporation or the bylaws, or may apply to the Court of Chancery for a decree summarily ordering an election as provided in § 211 or § 215 of this title.
(b) In the case of a corporation the directors of which are divided into classes, any directors chosen under subsection (a) of this section shall hold office until the next election of the class for which such directors shall have been chosen, and until their successors shall be elected and qualified.
(c) If, at the time of filling any vacancy or any newly created directorship, the directors then in office shall constitute less than a majority of the whole board (as constituted immediately prior to any such increase), the Court of Chancery may, upon application of any stockholder or stockholders holding at least 10 percent of the voting stock at the time outstanding having the right to vote for such directors, summarily order an election to be held to fill any such vacancies or newly created directorships, or to replace the directors chosen by the directors then in office as aforesaid, which election shall be governed by § 211 or § 215 of this title as far as applicable.
(d) Unless otherwise provided in the certificate of incorporation or bylaws, when 1 or more directors shall resign from the board, effective at a future date, a majority of the directors then in office, including those who have so resigned, shall have power to fill such vacancy or vacancies, the vote thereon to take effect when such resignation or resignations shall become effective, and each director so chosen shall hold office as provided in this section in the filling of other vacancies.
8 Del. C. 1953, § 223; 56 Del. Laws, c. 50; 63 Del. Laws, c. 25, § 10; 73 Del. Laws, c. 298, § 8; 77 Del. Laws, c. 253, §§ 24, 25.;
https://delcode.delaware.gov/title8/c001/sc04/
Super Trader Thank you for the lead on this article.
You asked how much you think Canopy or any other entity would offer for CV sciences. Here is the offer from Canopy to the shareholders of Acreage Holdings proposed merger.
Acreage shareholders will receive US$2.63 in cash
0.5818 of a Canopy share for each Acreage share they hold.
The deal is currently worth US$26.32 per Acreage share or about US$3.1 billion. That’s about US$10 above Acreage’s current stock price.
The Deal to the Acreage shareholders is a 61 per cent premium. The 3.1 Billion offer is 4.3 X the Market Cap of 715.68 Million. If we use the Market Cap as a reference in comparison with the ACRGF and CGC deal of 4.3 X the market cap would come to $16.93 per CVSI Share. Using the 61 per cent premium, the pps of CVSI would be $6.42. Lets compare CVSI to CWBHF current share price of $14.30 and use the 61 per cent premium. The pps would come to $23.02. The $16.93 should be close to the offer that should be made to the CVSI shareholders on the same basis.. This is just an estimate on my part. There are so many variables to consider and I am not privy to valuation analysis. jmho
At $16.93..The deal would come to 1.67 Billion. At $12.00 a share 1.184 Billion.
Like I said...your guess is as good as mine.
At current price of $16.47 (ACRGF)++++ $3.99 (CVSI)
The Market Cap is $715.68 Million ++++ $393.94 Million
43.43 Million Shares Outstanding ++++ 98.66 Million Shares Outstanding
57.38 Million Shares in the FLOAT ++++ 87.37 million Shares in the Float
Revenue $31.82 Million------------------$55.08 million
Total Cash $139 Million-----------------$13.64 Million
Total Debt $20.8 Million----------------$5.58 Million
Price per Book $3.41--------------------$12.71
Price per sales $22.49-------------------$7.15
Enterprise Value $1.49 Billion-----------$379.66 Million
Acreage Holdings Inc. has some “head-turner” acquisitions in the works now that its planned sale to pot giant Canopy Growth Corp. has been sealed, according to the New York-based company’s chief executive officer.
“There are going to be some really exciting ones, I think some head-turners, some people are going to be like, ‘Ooh, wow, that’s amazing,”‘ Kevin Murphy said in an interview in San Francisco at the Players Technology Summit presented by Bloomberg.
The unusual plan of arrangement between Canopy and Acreage, which closed Thursday, is contingent on cannabis becoming federally permissible in the U.S. For now, Acreage shareholders will receive US$2.63 in cash and the company will have access to Canopy’s intellectual property and brands. If the deal closes, investors will receive 0.5818 of a Canopy share for each Acreage share they hold.
The deal is currently worth US$26.32 per Acreage share or about US$3.1 billion. That’s about US$10 above Acreage’s current stock price.
[color=red][/color]
https://business.financialpost.com/cannabis/cannabis-business/acreage-nearing-head-turner-acquisitions-post-canopy-deal-ceo
Acreage nearing ‘head-turner’ acquisitions post-Canopy deal: CEO
Acreage Holdings Inc. has some ... will receive US$2.63 in cash and the company will have access to Canopy’s intellectual ...
A measly 100,000 dollars appropriated, that won’t cover the FDA office carry out lunch special from the local Chinese restaurant on K Street with red yeast rice instead of white rice you understand. Hell the government spent and wasted 40 million dollars from the witch-hunt trying to take down our President. Go figure. Wolf
SuperT.
This is what I came up with from your post earlier today. Mb Morse code ...—-...—- might suffice next time you understand . Nice post. Wolf
https://www.forbes.com/sites/julieweed/2018/12/27/2019-explosion-of-cannabis-mergers-and-acquisitions-is-predicted/
Canopy Growth acquires Keyleaf Life a deal in the making since November 2018. In December 2018 Bavarian brother Joerg Grasser joins CV Sciences in the Accounting Department, via Ballast point Brewery, a Constellation Brands subsidiary conveniently located in San Diego, home of CV Sciences. Then within 6 months he becomes CFO
June 26, 2019
Ryan T.
Canopy Growth (TSX: WEED) (NYSE: CGC) announced this morning that they have completed the acquisition of Saskatoon-based extraction company KeyLeaf Life Sciences (formerly known as POS Bio-Sciences). Included in the deal were KeyLeaf’s intellectual property and their related entities.
The 2 companies have been working closely together for the past year as trusted partners allowing Canopy to build out its extraction processes and technology in order to refine their extraction model for the Canadian and international markets.
Canopy Growth took control of KeyLeaf for accounting purposes in November of 2018 and KeyLeaf’s financials were consolidated into Canopy’s fiscal 2019 earnings.
This transaction will provide Canopy with a large-scale extraction facility in Canada. The deal also includes an extraction-related facility in the USA which will support Canopy’s plans to expand their hemp/CBD operations in the United States.
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KeyLeaf Key Points:
Over 45 years of experience in the nutraceutical, cosmetic, canola, and bio-product space.
Seen as a leading authority in their industry.
Hold significant intellectual property relating to plant-based extraction and ingredients.
Their chemists, engineers, and operators have considerable experience in their field.
They will remain within the organization to:
Further refine the cannabinoid extraction process.
Support Canopy with oversight, training, and design.
Assist Canopy with the implementation of additional extraction sites around the world.
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Canopy’s Saskatchewan Facility:
KeyLeaf has spent the past year helping Canopy retrofit its Saskatchewan facility to develop advanced technology and boost commercialization capabilities.
The Saskatchewan facility will be able to process hemp and cannabis biomass as well as conduct pre and post-extraction processes.
Once operational the Saskatchewan facility is expected to be able to process up to 5,000 kg of material on a daily basis.
The facility is currently in the Health Canada licensing process.
Canopy plans to use this facility to:
Process its over 5,000 acres of Canadian hemp CBD production.
Process over 160 acres of outdoor cannabis production.
Process any extraction materials produced from its over 4 million sq ft of greenhouse growing operations.
Canopy will then ship the processed materials to Smiths Falls to produce more of their word class products.
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Illinois Facility:
The acquisition included KeyLeaf’s industrial-scale ingredient science and innovation facility in Batavia, Illinois.
[color=red][/color]
The Illinois facility is focused on the concentration of key compounds and short path distillation.
This ensures the output produced is free of impurities for product intended for consumption.
The facility holds several certifications:
US FDA Food Facility Registration.
Illinois state hemp processing license.
Silliker GMP and Food Safety Systems Audit.
The Illinois facility will play a key role in Canopy’s program to bring CBD products to market in the USA by fiscal Q4 2020.
The facility will process the extract required to provide Canopy with the supply needed to support and strengthen the production of their U.S. hemp/CBD products.
Canopy claims to be one step ahead of the curve. They recently Acquired a Cosmetics and Beauty company located in UK with presence around the world. It is hard to imagine that Canopy growth with the 2 billion dollars of cash left over from the Constellation Brands needs to wait until the end of 2020 to enter the USA, Canada, and the rest of the International markets. In my opinion, Canopy is not going to take a slow boat to China. If Canopy Growth was going to Acquirer a CBD company with products in over 4000 locations and growing, has a competent and knowledgeable management team, already profitable, GRAS certification, low market cap in relation to its number one competitor,and an easy target etc. Why wouldn't CV Sciences be the right candidate and an easier target? jmho
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“The KeyLeaf operations and team deliver instant scale at a pivotal stage in our growth, with brand new products coming to market later this year requiring sophisticated extraction capabilities at scale,” said Bruce Linton, Chairman & co-CEO, Canopy Growth Corporation. “This acquisition is the result of a year’s worth of work with a trusted partner, and part of our commitment to always staying a step ahead as leaders in a nascent industry focused on the long-game one piece at a time.”
with brand new products coming to market later this year requiring sophisticated extraction capabilities at scale
I chose to cut and paste this little baby from the quote of the CEO... Coming to market later this year from the Batavia, Illinois facility that was at one time called POS Bio-Sciences ...Look it up Kentucky Hemp Dude.... The CEO contradicted himself, the Canuck is not waiting until the end of next year in my opinion...Take it away board...I can feel it in these Wolf Bones you understand...ahoooooooooooooo
https://www.thecannabisinvestor.ca/canopy-growth-completes-large-scale-extraction-acquisition-deal-will-boost-canopys-extraction-capacity-in-canada-and-usa/
Belgie check with the Safeway stores in your area. Safeway is a subsidiary of Albertsons as of 2015. Wolf
https://en.wikipedia.org/wiki/Safeway_Inc.
Winco is a smaller chain headquartered in the same city and state as Albertsons. Boise Idaho.
https://en.wikipedia.org/wiki/WinCo_Foods
Cvsi listed Albertsons as one of its targets. With over 2000 grocery stores in the USA and headquartered in Idaho, why are they holding back. Green Growth is most likely the delay. Here are a couple of articles, one recently in relation to Seventh Sense Stores in Malls.Hopefully we will be on Albertsons shelves sooner than later. Imo Wolf
https://business.financialpost.com/cannabis/american-eagle-billionaires-to-list-cannabis-play-on-cse
https://www.cnbc.com/2019/06/10/green-growth-brands-to-open-over-70-cbd-shops-in-malls-with-brookfield.html
https://en.wikipedia.org/wiki/Albertsons
Canopy Growth Acquires KeyLeaf Life Sciences
Chilling, lets see what Canopy is paying and how for KeyLeaf life Sciences. Maybe it will give us some perspective..
Canopy Growth Corp (NYSE: CGC) said Wednesday (June 26, 2019) it completed a transaction to acquire Canada-based KeyLeaf Life Sciences, a bio-product extractor company.
What Happened
Canopy and KeyLeaf worked together to build out an extraction process and related technology. The partnership was intended to refine Canopy's scale extraction model for the Canadian and global markets.
Canopy assumed control of KeyLeaf for accounting purposes in late 2018 and Wednesday's agreement will see Canopy assume related entities and intellectual property. In addition, Canopy will also acquire a U.S.-based extraction facility, which will be used for Canopy's CBD expansion in the U.S. market.
https://finance.yahoo.com/news/canopy-growth-acquires-keyleaf-life-132602148.html
Snaac CBD Bar
Is there anything current on this subject/topic? "In UK Nooro is flying off the shelfs".tia
Posted: 23 May 2019
Start up brand Nooro have launched the UK’s first CBD snack bar and it is flying off the shelves.
https://www.confectioneryproduction.com/product_profile/26412/the-uks-first-cbd-snack-bar-is-fastest-selling-snack-product-line-launch-in-planet-organic/
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https://www.snaaccbd.com/
SNAAC CBD launched as ‘industry’s first hemp-based CBD sports bar’
By Gary - August 14, 2018
SNAAC CBD, a hemp-based CBD sports bar product line, has launched nationwide across the US, as a collaboration between SNAAK BAR and CV Sciences, a supplier and manufacturer of hemp extracts. SNAAC CBD is billed as the first sports bar formulated with hemp cannabidiol (CBD) to become available on the market. It is designed to ‘improve athletic and workout performance through advanced phytocannabinoid nutrition.’
In 2017, while attending Natural Products Expo West, SNAAK BAR’s Juliana Thiel and Leon Garcia attended a presentation by Stuart Tomc, VP of Human Nutrition from CV Sciences, on the potential health benefits of hemp CBD oil. In collaboration with CV Sciences, they have since developed a sports bar using CV Sciences’ PlusCBD Oil.
CBD is one of over 100 cannabinoids found in the cannabis plant. Hemp CBD, such as CV Sciences’ PlusCBD Oil, is not psychoactive, ‘so it won’t get you high’. SNAAK BAR notes that ‘People often take hemp CBD for mood, recovery, inflammation, stress, restful sleep and pain management.’
PlusCBD Oil is the flagship brand from CV Sciences – with products sold in health & organic food stores as well as online at www.PlusCBDOil.com.
SNAAC CBD is being offered as two new hemp CBD whole food nutrition bars. The Chocolate Cherry Almond bar includes 15mg of hemp CBD from the PlusCBD Oil Gold Formula extract; while the Lemon Cream Crisp bar includes 15mg of hemp CBD from PlusCBD Oil Total Plant Complex.
All infused hemp CBD concentrates are made from agricultural hemp, ‘delivering full spectrum cannabinoids, naturally-occurring vitamin E, plant sterols, terpenes and fatty acids to support the balance of body and mind.’
www.cvsciences.com
www.PlusCBDOil.com
https://www.endurancebusiness.com/2018/industry-news/snaac-cbd-launched-as-industrys-first-hemp-based-cbd-sports-bar/
Trademark status
Pro + cbdoil and the other plus + cbdoil along with plus +hempoil trademarks have been assigned to examiner on June 24.
https://tsdr.uspto.gov/#caseNumber=88051058&caseSearchType=US_APPLICATION&caseType=DEFAULT&searchType=statusSearch
https://tsdr.uspto.gov/#caseNumber=88051058&caseSearchType=US_APPLICATION&caseType=DEFAULT&searchType=statusSearch
https://tsdr.uspto.gov/#caseNumber=88051037&caseSearchType=US_APPLICATION&caseType=DEFAULT&searchType=statusSearch
https://tsdr.uspto.gov/#caseNumber=88051064&caseSearchType=US_APPLICATION&caseType=DEFAULT&searchType=statusSearch
Good morning little Piggies
Kentucky I remember Darrell Carrier. I noticed his son played for Tubby Smith at UK. My friend Jack Baker played BB at Old Dominion U. With Dave Twadzik who played with the Virginia Squires. Dave was Player Development with the Golden State Warriors when he and Jack persuaded Joe Smith to or out his Junior year to become the first overall pick in the NBA. I was with Joe And Jack along with ESPN at Maury High School Gym when Joe Made his NBA announcement. Joe won the Adolf Rupp award at Maryland in 1995. My stepfather was friends with Lefty Drisell and missed the opportunity to play with Lefty at Duke, and instead decided to take his other full scholarship to play with the itsy bitsy spiders of Richmond you understand. It’s nice to share those stories with someone other than Me Myself and I. Hopefully we can another box store announcement to get this stock moving north. Come on Uncle Albertsons with over 2000 stores.
https://en.wikipedia.org/wiki/Adolph_Rupp_Trophy
https://en.wikipedia.org/wiki/Dave_Twardzik
https://en.wikipedia.org/wiki/Darel_Carrier
Two or three more on the menu you don’t say.
Can wolfie come to the cvsi pig roast? Here is what the Wolf can bring to the table you understand....ahooooooo
TR thank you for the information and format. I just want to give any input and insights that can help investors like myself. There are some very talented people on board this ship that are doing the same. Thank you again. Dyakuyu
Divine One ...Thank you for the eye drop opener. I never knew that these connections were made back then by You and Sleuth. I expanded on the DuPont connection from a poster who was on the Y board whom I credited on this board on my arrival. I arrived on this board on May 23, 2019. So all my posts were a waste of the Boards time. Wolfie
Chillin my comrade. I’m an insighter trader not an insider trader you understand. There are posters on this board who know more about this company and the CBD field. I wish I could answer your question. In my hypothetical, It would have to be more than 10 dollars a share because it would not allow frivolous lawsuits from investors who bought at a lower price, the $9.20 cvsi high. It all depends on many variables. What is the acquirer willing to pay, investor approval by both parties, etc. Your guess is as good as mine. I’m hoping $12.00 then I would have doubled my investment. Like many here I believe, we would rather hold long and hope for higher gains. It’s inevitable, the CBD /MJ players are going to shake out the weak players. That will be done through acquisitions from the deep pocket concerns. Imo Wolf
KY Jelly from the land of Dan Issel and the Kentucky Colonels. Are you ready for some more Voodoo. The Wolf in 1973 at the age of 18 coached and managed a little league baseball team. One of my 9 year old players who I wished would be famous was Bruce Smith, the overall number one pick of the Buffalo Bills in 1985, Rookie of the year, and NFL QB sack leader, and NFL Hall of Famer. In August of 1974 while producing the Wolfman Jack Syndicated show at WNOR radio, I got a visit from Robert Smith a/k/a Wolfman Jack. In 1995 ten years later, my friend Jack Baker who I Was a batboy for when I was 7 coached Joe Smith in high school, the number one overall NBA pick of the Golden State Warriors. My mentor in Radio was my friend Terry Steele who was a DJ at CHUM Radio in Toronto Ontario, a 216 mile drive from Smiths Falls, Ontario. The hometown of Canopy Growth Corporation. When I Placed dirt in Wolfs grave, it was on July 8,1995. 7/8. The number retired by the Buffalo Bills and worn by Bruce Smith the number 78...The Smith connection you understand. Ahoooooovoodooo
https://en.wikipedia.org/wiki/Bruce_Smith
https://pilotonline.com/sports/columnist/harry-minium/article_d6db8cab-7f25-5d2a-93ce-1c6bbc8ebb4a.html
http://www.chumtribute.com/chumtribute-steele.html
https://en.wikipedia.org/wiki/Joe_Smith_(basketball)
https://ottawacitizen.com/news/local-news/the-day-smiths-falls-luck-finally-turned-the-story-of-a-marijuana-boom-town
https://en.wikipedia.org/wiki/Four_Falls_of_Buffalo
Thanks for your input and your expertise on the subject. Don't be a stranger to the board..Wolf
Jung coined the word "synchronicity" to describe "temporally coincident occurrences of acausal events." In his book Synchronicity: An Acausal Connecting Principle, Jung wrote:[11]
How are we to recognize acausal combinations of events, since it is obviously impossible to examine all chance happenings for their causality? The answer to this is that acausal events may be expected most readily where, on closer reflection, a causal connection appears to be inconceivable.
In the introduction to his book, Jung on Synchronicity and the Paranormal, Roderick Main wrote:[12]
The culmination of Jung's lifelong engagement with the paranormal is his theory of synchronicity, the view that the structure of reality includes a principle of acausal connection which manifests itself most conspicuously in the form of meaningful coincidences. Difficult, flawed, prone to misrepresentation, this theory none the less remains one of the most suggestive attempts yet made to bring the paranormal within the bounds of intelligibility. It has been found relevant by psychotherapists, parapsychologists, researchers of spiritual experience and a growing number of non-specialists. Indeed, Jung's writings in this area form an excellent general introduction to the whole field of the paranormal.
In his book Synchronicity: An Acausal Connecting Principle, Jung wrote:[11]
...it is impossible, with our present resources, to explain ESP, or the fact of meaningful coincidence, as a phenomenon of energy. This makes an end of the causal explanation as well, for "effect" cannot be understood as anything except a phenomenon of energy. Therefore it cannot be a question of cause and effect, but of a falling together in time, a kind of simultaneity. Because of this quality of simultaneity, I have picked on the term "synchronicity" to designate a hypothetical factor equal in rank to causality as a principle of explanation.
Synchronicity was a principle which, Jung felt, gave conclusive evidence for his concepts of archetypes and the collective unconscious.[13] It described a governing dynamic which underlies the whole of human experience and history — social, emotional, psychological, and spiritual. The emergence of the synchronistic paradigm was a significant move away from Cartesian dualism towards an underlying philosophy of double-aspect theory. Some argue this shift was essential to bringing theoretical coherence to Jung's earlier work.[14][15]
Even at Jung's presentation of his work on synchronicity in 1951 at an Eranos lecture, his ideas on synchronicity were evolving. On Feb. 25, 1953, in a letter to Carl Seelig, the Swiss author and journalist who wrote a biography of Albert Einstein, Jung wrote, "Professor Einstein was my guest on several occasions at dinner. . . These were very early days when Einstein was developing his first theory of relativity [and] It was he who first started me on thinking about a possible relativity of time as well as space, and their psychic conditionality. More than 30 years later the stimulus led to my relation with the physicist professor W. Pauli and to my thesis of psychic synchronicity."[4]
Following discussions with both Albert Einstein and Wolfgang Pauli, Jung believed there were parallels between synchronicity and aspects of relativity theory and quantum mechanics.[16][better source needed]
Jung believed life was not a series of random events but rather an expression of a deeper order, which he and Pauli referred to as Unus mundus. This deeper order led to the insights that a person was both embedded in a universal wholeness and that the realization of this was more than just an intellectual exercise, but also had elements of a spiritual awakening.[17] From the religious perspective, synchronicity shares similar characteristics of an "intervention of grace". Jung also believed that in a person's life, synchronicity served a role similar to that of dreams, with the purpose of shifting a person's egocentric conscious thinking to greater wholeness.
https://en.wikipedia.org/wiki/Synchronicity
https://en.wikipedia.org/wiki/Synchronicity_(book)
Dr. J. Thanks for reposting your original post. Along with the poison pill proposal that the insiders introduced and had voted against it was the nail in the coffin. The second insight was the resignation of Board member Gary Sligar after he was voted in by the insiders. After reading the Canopy Growth article and CEO interview, I decided to look into Joerg Grasser’s connection. That is why I am confident that Canopy Growth is the acquirer and CV Sciences is the target. Jmho
Gr8 post. Googled that article earlier this morning. Thanks for posting and expanding on the synergy scenarios. Dr. Fang was always bringing up Carl Jung’s synchronicity theories and I too have studied his works over the years. When I analyze situations, I look at connections and signs from a spiritual and realistic point of view. I mentioned in one of my past posts a spiritual book “The Celestine Prophecy”. It broadened my insights and from my past experiences, I have come to the conclusion that from my spiritual insight and analogy of the connections I have discovered between my Bavarian blood brother Joerg Grasser that he was brought on to synchronize And synergise Canopy Growth and CV Sciences. My maternal grandfather immigrated to America from Bavaria..Jmho
You make a great analysis about who holds those shares. That is why Mona got his humming bird deal. Imo
You might be interested in this article as well you understand. Ahooooooo
https://www.bcg.com/publications/2018/synergies-take-center-stage-2018-m-and-a-report.aspx