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How much cash will they have?
They had 30 plus mil at the last financial release. Then they picked up 52 mil from the bought deal. 80 plus mil.
What would they have spent it on. Their losses were none cash compensation or shares given to board members. Not cash.
If they have been moving a descent amount of pot then they will be covering their operations expenses plus .
They have spent a bit on Pineapple and Choclat. They make have followed three with the stock repurchase.
They could easily be sitting with sixty to seventy mil. If they have been selling more then what people think then they may have been adding to the cash.
I wouldn't bet against it.
meima1955; It sets up an interesting scenario. No news until end of May and then two financials back to back. Then a hole lot of things get answered.
How bad was the book keeping? LOL .
What kind of loses did they have for up to Nov? I think they will be in the black other then none cash compensation.
How much cash is left?
Then they will release the 2019 first quarter right after people have absorbed the year end and we will see if they are sell much pot. We will get a another answer on how much cash they are burning through. Even if they are selling a moderate amount of pot then they could be in the black. They may also be sitting with way more cash then people think.
It is a role of the dice based on what you think they are doing. This is where money is MADE and LOST.
I have already sunk in the max that I am willing to risk so now I just get to watch.
Pensovercaps; Stop and think about this. When would the first quarter for 2019 be due? You can't release 2019 first quarter before the 2018 year end is released. They will not be able to release the year end until after the 2019 first quarter is due.
The first quarter fillings will be released after the year end. Makes sense as they can not be released until the year end.
So we will get the year end and right there after we will get the first quarter for 2019.
I like that. A lot.
Rockhall; I think the update will only be how the audit is progressing. I do not expect there to be any company info. Certainly no numbers. Do you?
Cafes are canceled.
Process license is in place.
Oil sales license will come once Cannmart labs is up and running. The facility must be done. License is backed on final inspections.
Potterbanker; I thought they were going to be halted also. I wonder if the securities people were not too impressed with how PWC dealt with this. They basically left Namaste high and dry. Some of their problems come from inexperienced management but this company has been unduly attacked for the last six months.
May 31st. This makes sense as the new company have 15 months to audit. The first quarter of this year will also be due by then.
It is very interesting that they were not halted.
I will be just as happy if they hault it.
Someone on Yahoo is saying that Meni has bought 3.6 mil more shares. Can anyone confirm this?
Did he buy them or were they none cash compensation from the company?
Meima1955; So you admit that Cannmart is unique. LOL
This market has lots of room for competition. There is always room for companies who specialize in something. You act like there is a very small market out there. How many alcohol companies are there? How many drug companies?
Namaste does not need to become massive to be solid and very profitable.
The solution for oils is Infinite Labz. Import and production. It's Canadian licence is what Shopify wants.
Sheadoggy; Thanks. This is probably not a good time to be doing something to new. Just keep it simple and execute. Nice new site.
Now we need finances , Infinte Labz and with that oils.
Latter in the year eatables.
I wonder if this new platform has the ai ERP that Meni was promising or is that yet to come. The ERP should streamline their record keeping.
Sweatsweatlove; Does the new site say it is powered by Shopify?
I only have my phone.
Greenwillow; Namaste has put together an interesting portfolio of investments and supply agreements that will continue to increase profitability as the years go by.
Pineapple Express and now a chocolate company. Infinite Labz and small LP's. Oils and dried product. Canada and overseas.
Cannbit is an interesting little connection to Pepsi. That is a new one for me.
Good find.
Financials; There will be two financials due by the time they get year end done. First quarter is due end of April. I would imagine they will speed that one up. Do you think they will want to continually be late with every quarter moving forward?
PNHope; The SP will be based on what the numbers are. That is the way it should be. It will all depend on Cannmart numbers and no one knows what they are. We know they have solid traffic. We know they have a consistent inventory now. We also know that the other LP are all showing big increases in sales. There is no reason to think that Cannmart will not have solid numbers. We will have gone around 8 months with no financials so that leaves everyone in the dark but does not mean that there is no sales.
The cloud is lifting and we will soon see some figures. If Cannmart is moving a solid amount of product they will be in the black. They will be a profitable MJ company with the future ahead of them. One that is also sitting with cash reserves. Most of the big LP's will not be profitable for some time yet. Maybe years.
I block out all of the noise and I focus on why I invested in this in the first place. The management issues have not been good but the company plan has not changed. Actually the new management team have got the original plan back on track. They are refocussing the company and pointing it towards success.
I wouldn't blame people if they sold and got out because any small startup has inherent risk but do it for a smart calculated reason not because some of the morons that get on this site say so. This company could fail but if it succeeds the rewards could be substantial. Even if you bought at some of it's higher price points. They will probably have oils and eatables going into 2020. Seeing this business plan selling 50 mil plus per quarter is not a big stretch. Just in Canada.
Giovanni; Keep trying dude. LOL
When their financials finally come out they are going to show Tilray numbers. Without the 31mil of debt.
I know you guys are hopping and praying that Cannmart is not selling anything but you are seriously dreaming. They wouldn't be buying a chocolat company and planning for the future if they had no sales.
Pineapple express is expanding into Sask now.
In a few months guys like you won't be here.
Giovanni ; The document says that there was NO " reportable events".
If PWC had of found something they would have had to report it , right?
They can't just quit and say we did not leave because of a reportable event.
You are trying to suggest that the new auditors will find one? Based on what info. Mr Left? LOL
There is the conformation that there is no reportable offense. So PWC just quit with no reason and left them high and dry. They should get an extension.
Sean brought back as advisor? He has no position on the board, no company title and his votes have been turned over to the board. His return is in name only.
He has been silenced and removed from any decision making.
Huggy2: PwC has not been able to reach a conclusion as to whether a reportable event has occurred, as such term is defined in NI 51-102.
I think it is very clear why. Yet they can't decide if it is a reportable offense or not. So why did it take them six months to decide. Plus ,why wait to quit so late in the process that it makes it virtually impossible for Namaste to meet the time line.
No one will give two craps about who the auditor is. It will be about the numbers. Nothing more.
Have you looked into some of the trouble PWC is in the UK. They are nothing special.
25451 Sweetsweetlove; Good find. There is a ton of real interesting info in that interview. If you have product it is selling. At greater numbers then anyone could have forecast.
The site being put together by NAMASTE is fully AI and comes with all of the customer and product identification. New rules in April will require a higher level of security and product identification.
Then you look at the info on their website about how q2 for this year will see big changes on their websites and way products.
I thought it was a very good interview. Meni was a bit camera shy but his comments were accurate and to the point. No sales pitch. Interesting comment about lack of product in October. If you remember we used to see Sku's come and go. Now they just keep adding. Everyone had a shortage of product then but it looks like they have a solid steady stream of product now. $$$$$$
They want to be prepared for eatables and with Labz and choclat they have a head start. It was nice that they mentioned labz. Open soon I hope.
Just a note to anyone who might be shorting this stock. If they do get suspended for a few weeks while they get their audits done you could get stuck waiting with all of us. Then it might open to solid financials and news on Labz and who knows what else.
Be careful!!
25363 rockerfeller jr ; I can't disagree with this sentiment. I think they are cleaning house completely. Kory seems to be totally out of the loop already.
The company will get a fresh start with solid management.
Greenwillow; I think most of that cash is still sitting in the bank. I also think people will be quit surprised with the sales going through Cannmart and Buds2go.
25323 : That is not the one between Sean and the company. That is the class action . Two different things.
They moved Sean into a back room and silenced him. Intern they have control of his votes and stopped a court case that would have just aired any dirty laundry to the public. It was what was in the best interest of the company and it's shareholders.PWC will be replaced.
Again I ask, why bother get involved in cleaning this company up if they thought it was a dud? I am sure they have better things to do.
So Feenstra and Spikes have gone from being in an advisory position to controlling the entire company. They didn't even need to buy it out.
If these two gentlemen thought Namaste was a sinking ship why would they get more involved? Why waist time reviewing the entire operation with the intent on streamlining it. Why invest in the Chocolate company, which shows they are planning ahead for the eatables market.
They are systematically purging the company because it is a sinking ship? LOL
They are spring cleaning! This is fantastic news.
I guess they found a way to flush the weak hands.
I wonder if the company has been purchasing any over the last while.
Almost 12 mil in 15 min.
Maybe the hault is for a larger announcement.
I also appreciate the hault this morning. A small announcement but it gives small shareholders a chance to clear their heads.
I get the feeling that some one does not want the shareholders to see the financials. Is it the company or someone high up the food chain?
I don't think it is the company? I smell major manipulation.
Meni has canned the Café that would cost 3 mil a "year" and maybe never be profitable . He took one years cost for the Café and purchased 49% of a chocolate company that is already making money. A business that can be a nice addition to their marijuana theme once the eatables become legal. I don't see why people would say Meni is in over his head. To me this is a nice purchase.
Growing pains. The Sean smell will be around for a while. I think the chocolate maker fits with their overall direction and could be a big winner. A lot like Pineapple express. I much prefer that over cafe's.
They are letting the market know that it is business as usual. Their demise is prematurely reported.
They will find another Auditor. Not ideal but not unheard of. This is what it is all about, investing in a startup company. Some survive some don't but all go through growing pains.
Potterbanker; Cannafarms is a producer not a sales only e-commerce site. They got their first license back in 2014. They opened their own website just like many of the LP's. They are a completely different type of business plan. Just a small craft style company.
Canopy medical sales stepped back. I wonder if Namaste has become the preferred company for medical. Their service looks like it is the tops in the industry. Easy to get registered , help selecting the right product and quick seamless delivery. I wonder if they have chiselled into the big boys sales. They are continuing to increase their selection. All that is remaining is the oil license. I look forward to the February numbers.
24930 Rockhall ; I agree and I prefer to have two financials within 4 weeks of each other. Especially if they are good. :)
I emailed IR and they say that they have not released a date for the financials.