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Thoughts you say. That is one big 10K. It will take some time to break it down on the details. However the two big things I wanted to know up front were easy to find. They lost 1/4 of a billion for the year, and the debt is at 1.5 billion. Sales cost and G&A cost is also interesting but to be fair it will need to be broken out. I am pulling my bids that I had in the 5’s.
Again it will take some time for me to break all of that out, for my understanding anyway, But I'm not in a rush to do so, I want to take my time with it.
In regards to cvsi, it’s all about sales and profit. It’s what they do. If they can’t sell or if they don’t have profit to survive then nothing else matters. Show me the sale numbers, show me the profit. Grow or die off, of course with 600,000,000 plus share to dilute with, it should keep management in pay checks for a while.
They should pay management for performance-based goals, currently the current management/leadership over the last 3 years has lead this company to a 99 percent drop in price.
A decent write up and review : Charlotte's Web Holdings, Inc. is engaged in providing hemp extract wellness products under a family of brands, including Charlotte's Web, CBD Medic, CBD Clinic and Harmony Hemp. Charlotte's Web branded products start with its own hemp genetics, which are 100 % American farm grown and manufactured into hemp extracts containing naturally occurring phytocannabinoids, including cannabidiol (CBD), CBC, cannabigerol (CBG), terpenes, flavonoids and other beneficial hemp compounds. Charlotte's Web product categories include full spectrum hemp extract oil tinctures, including liquid products; gummies, including sleep, stress, immunity, exercise recovery; capsules, CBD topical creams and lotions, as well as products for dogs. Charlotte's Web products are distributed to approximately 14,000 retail doors and 8,000 healthcare practitioners and online through the Company's Website at www.CharlottesWeb.com.
Major League Baseball Agreement
On October 11, 2022, Charlotte’s Web Holdings, Inc. (the “Company”) entered into a Promotional Rights Agreement (the “MLB Promotional Rights Agreement”) with MLB Advanced Media L.P., on its own behalf and on behalf of Major League Baseball Properties, Inc., the Office of the Commissioner of Baseball, The MLB Network, LLC and the Major League Baseball Clubs (collectively, the “MLB”), pursuant to which the Company entered into an exclusive strategic partnership with MLB to promote the Company’s new NSF-Certified for Sport® product line.
In consideration for the MLB Promotional Rights Agreement, which expires on December 31, 2025, the Company shall pay the MLB over the term of the MLB Promotional Rights Agreement, an aggregate rights fee of $30.5 million and a 10% royalty on the Company’s gross revenue from the MLB branded products of the Company sold after sales of all such branded products exceed $18.0 million. The Company has also entered into a subscription agreement (the “Subscription Agreement”) pursuant to which the Company agreed to issue to the MLB, subject to customary closing conditions, common shares equal to 4% of the Company’s fully diluted outstanding common shares as of the day prior to the date of issue. The total number of shares issued to the MLB was 6,119,121 common shares of the Company, which were issued pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D promulgated under the Securities Act. The Company did not receive any proceeds in respect of the shares.
BAT Subscription Agreement
Effective as of November 14, 2022, the Company entered into a subscription agreement (the “Subscription Agreement”) with BT DE Investments, Inc. a wholly-owned subsidiary of BAT Group (LSE: BATS and NYSE: BTI), providing for the issuance of an approximately $56.8 million (C$75.3 million) convertible debenture (the “Debenture”) convertible into 19.9% ownership of the Company’s common shares at a conversion price of C$2.00 per common share of the Company on the Toronto Stock Exchange (TSX). The Debenture will accrue interest at an annualized rate of 5% until such time that there is federal regulation permitting the use of cannabidiol, a phytocannabinoid derived from the plant Cannabis sativa L. (“CBD”) as an ingredient in food products and dietary supplements in the United States. (The term “federal regulation" is defined as the date that federal laws in the United States permit, authorize or do not prohibit the use of CBD as an ingredient in food products and dietary supplements). Following federal regulation of CBD, the annualized rate of interest shall reduce to 1.5%. The maturity date for the Debenture shall be November 2029. The Subscription Agreement contains customary representations and warranties and covenants. The funds from this Debenture can be used for operating purposes to fund the Company, as approved by the board of directors or in accordance with the Company’s board-approved budget.
Tilray Agreement
On November 1, 2022, the Company entered into a Manufacturing and Sales License Agreement (the “Agreement”) with Aphria, Inc., an Ontario corporation, an affiliate of Tilray Brands, Inc. (“Tilray”), pursuant to which the parties entered into a strategic alliance by which Tilray will have the rights to licensing, manufacturing, quality, marketing and distribution of extract products in Canada. In consideration for the Agreement, Tilray has agreed to spend in each calendar year during the term of the Agreement (other than 2022) a minimum of 5% of net sales per year on advertising, retail marketing, direct to consumer advertising, and similar third-party marketing expenditures for the Company’s products. In addition, Tilray will spend an additional C$250 (Canadian Dollars) on marketing in the first contract year following 2022 to launch the Company’s brand into the Canadian market. Tilray will also pay the Company a monthly royalty of 10% of all net sales revenue received by Tilray from sales to third-party entities during the prior month. The Agreement expires on October 31, 2026, unless earlier terminated by either party in accordance with the terms of the Agreement. The Agreement is also subject to termination for convenience by either party upon 6 months’ notice given on or after October 31, 2024.
Part II : Effective November 2020, the Company entered into a note receivable with certain founders of the Company ("founders") to negotiate a future binding transaction in good faith. This agreement included a secured promissory note, where $1,000 was loaned to one of the founders. The note receivable is secured by equity instruments with certain founders of the Company, is carried at amortized cost, bore interest at 3.25% per year, and required the unpaid principal and unpaid interest balances to be paid on or before the maturity date of November 13, 2021. The founders requested an extension of the maturity date, as allowed under the terms of the promissory note, resulting in an extension of the maturity date to November 13, 2023. According to the terms of the agreement, no additional interest will accrue through the payment date. The founders' equity instruments securing the promissory note remained in place. Interest income is recognized based upon the contractual interest rate and unpaid principal balance of the promissory note. As of September 30, 2022 and December 31, 2021, the founders owed the Company $1,037 consisting of principal and interest. On March 22, 2022, the Company and the founders amended the agreement to increase the equity instruments securing the promissory note and to extend the maturity date to November 13, 2023. As a result of this amendment, the Company does not believe there is an estimated credit loss on the note receivable as of September 30, 2022 and December 31, 2021. The Company will continue to evaluate the note receivable for changes to credit loss estimates through the extended maturity date.
On March 2, 2021, the Company entered into the SBH Purchase Option with Stanley Brothers USA as discussed above (Note 3). The SBH Purchase Option was purchased for total consideration of $8,000. Certain founders of the Company, who are or were employees at the time, are the majority shareholders of Stanley Brothers USA.
On September 30, 2022, pursuant to an amendment to the Name and Likeness and License Agreement between the Company and Leeland & Sig LLC d/b/a Stanley Brothers Brand Company, agreement was extended to December 31, 2022. The Name and Likeness Agreement was amended to provide the payment of a nominal per diem fee for each Stanley brother that participates in certain events. In addition, on April 16, 2021, the Company executed a separate consulting agreement which extended the services agreements of the seven Stanley brothers for a period of one year, expiring July 31, 2022. Upon execution of the consulting agreement in 2021, the Company paid $2,081 to Leeland & Sig LLC d/b/a Stanley Brothers Brand Company, on behalf of the seven Stanley brothers, as consideration for the consulting services to be provided to the Company over the term of the agreement and certain restrictive covenants. For the three and nine months ended September 30, 2022, the Company recognized $150 and $1,025, respectively in sales and marketing expenses in the condensed consolidated statements of operations and net loss related to this agreement. For the three and nine months ended September 30, 2021, the Company recognized $167 of selling, general and administrative expenses in the condensed consolidated statements of operations and net loss related to this agreement. As September 30, 2022 there is no remaining balance.
Will start here: Stanley Brothers USA Purchase Option
In 2021, the Company entered into an option purchase agreement with Stanley Brothers USA. The SBH Purchase Option was purchased for total consideration of $8,000 and has a five year term (extendable for an additional two years upon payment of additional consideration). The SBH Purchase Option provides the Company the option to acquire all or substantially all the shares of Stanley Brothers USA on the earlier of February 26, 2025 and federal legalization of cannabis in the United States, or such earlier time as Stanley Brothers USA and the Company agree, at a purchase price to be determined at the time of exercise of the SBH Purchase Option. Upon exercise of the SBH Purchase Option, the purchase price will be determined based on application of predetermined multiples of Stanley Brothers USA revenue and earnings before interest, taxes, depreciation, and amortization (“EBITDA”) measures. The Company is not obligated to exercise the SBH Purchase Option. As part of the SBH Purchase Option agreement, Stanley Brothers USA issued the Company a warrant exercisable to purchase 10% of the outstanding Stanley Brothers USA shares and convertible securities that are considered in-the-money, subject to certain conditions and exclusions. The warrant is exercisable at the Company's election for a nominal exercise price in the event the Company elects not to acquire all or substantially all shares of Stanley Brothers USA and expires 60 days after the expiration of the option.
The Company has elected the fair value option in accordance with ASC 825-10 guidance to record its SBH Purchase Option. Under ASC 825-10, a business entity shall report unrealized gains and losses on items for which the fair value option has been elected in earnings at each subsequent reporting date. The SBH Purchase Option is classified as a financial asset and is remeasured at fair value at each reporting date, with changes to fair value recognized in the statements of operations for the period. The use of assumptions for the fair value determination includes a high degree of subjectivity and judgment using unobservable inputs (level 3 on the fair value hierarchy), which results in estimation uncertainty. Changes in assumptions that reasonably could have been different at the reporting date may result in a higher or lower determination of fair value. Changes in fair value measurements, if significant, may affect performance of cash flows. For the three and nine months ended September 30, 2022, a $4,000 and $3,900 loss, respectively, related to the SBH Purchase Option was recognized as change in fair value of financial instruments and other in the statements of operations. For the three and nine months ended September 30, 2021, a $5,730 and $4,900 gain, respectively, related to the SBH Purchase Option was recognized as change in fair value of financial instruments and other in the statements of operations. As of September 30, 2022 and December 31, 2021, the SBH
In regards to cvsi, it’s all about sales and profit. It’s what they do. If they can’t sell or if they don’t have profit to survive then nothing else matters. Show me the sale numbers, show me the profit. Grow or die off, end of story.
From the sticky note above.:Please read this BOARD WARNING before you submit another post.
The purpose of this board is the discussion of CVSI, its officers, operations and stocks. Posts that include content about other Users of this site, including Moderators, are off-topic at a minimum. All opinions, whether positive, neutral or negative, are welcome here. Talking about/attacking other Users is not.
The purpose of this board is the discussion of CVSI
I agree.
You are correct!
An avalanche of trades today. Total of $2100 in trades. Yep 21 brave traders shelled out an average of 104 dollars per trade. On fire for this little back woods off the beaten path dynamo of a dead in the water stock. IMO
Long and strong until RIP,
Wonder how much cvsi will have to pay in that settlement.
The Derivative Action alleged that the Defendants willfully or recklessly made and/or
caused the Company to make false or misleading representations regarding: (1) the value of the
PhytoSphere acquisition; and (2) CV Sciences’ financial position and results of operations. As a
result of the foregoing, the Plaintiff alleged that Defendants had breached their fiduciary duties to
the Company and to its shareholders. Defendants deny each and every claim and contention
alleged by Plaintiff and also expressly deny all charges of wrongdoing or liability arising out of
the allegations in the Actions
After the Court’s denial of Defendants’ Motion to Dismiss in substantial part and discovery
proceedings undertaken, the Parties engaged in extensive settlement negotiations. The Parties
memorialized their agreement as to the substantive terms of the proposed settlement in a
Settlement Term Sheet on January 13, 2022.
In recognition of the benefits achieved on behalf of CV Sciences in the Derivative Action,
the Parties shall attempt to negotiate in good faith and with the assistance of a mediator if necessary
an agreed amount of attorneys’ fees and expenses (the “Fee and Expense Award”) to be proposed
to the Court prior to the Final Hearing as payment to Plaintiff’s Counsel for the benefits achieved
on behalf of CV Sciences. If the Parties are unable to reach agreement, Plaintiff may make a
motion to the Court seeking an award of attorneys’ fees and expenses for the benefits achieved on
behalf of CV Sciences in the Derivative Action. Defendants reserve the right to oppose any such
motion.
LOL 1800 hundred dollars in trades today total, ROTFLOL!!!
Do I have that right, CW is up about half of what cv is worth, well it's not fair really, cv is a dead in the water stock, so.
When I first saw this I thought it maybe the Mona tax issue,
{ If the tax amount is not paid by Mona Jr., the Company would be liable for such withholding tax due}
https://ir.cvsciences.com/sec-filings-email/content/0001510964-23-000003/cvsi-20230302.htm
but no it’s the derivative claim.
On March 17, 2015, Michael Ruth filed a shareholder derivative suit in Nevada District Court alleging breach of fiduciary duty and gross mismanagement (the “Ruth Complaint”). The claims are premised on the same events that were the subject of a purported class action filed in the Southern District of New York on April 23, 2014 (the “Sallustro Case”).
The lawsuit alleged breach of fiduciary duty and other claims premised on the same events that were the subject of a purported class action filed in the Southern District of New York on April 23, 2014.
Well one down anyway.
All sells today, anyway another view point.
https://stockinvest.us/stock/CVSI
Here we go, halfway thru the day 13 trades, total of $1600 dollars traded. As stated DEAD IN THE WATER STOCK.
7 trades already in the first 45min. $760 total. Off to a decent start for this one.
Stuart Tomc has left this company, he’s gone. Either cvsi couldn’t use him, didn’t need him, couldn’t figure out where to put him or he just bailed, got out while the getting’s good.
I don’t have a problem with Cbd, nor omega or a mix. Think it’s good. However, I do have a problem with this company’s gross inability to sell what ever product they put out.
But here, let’s say they do come out with a cvsi/omega mix. People will buy it, at the cost of not buying what they already put out. Not going to buy both. Zero sum game. And at what cost to do it?
What you really are hoping for is if they can come out with a good killer product, something NOBODY else has, then, if marketed right could be a game changer. There is nothing new with cbd/omega mix. They would just joint another name in crowded field, with no reason to think they would do any better. IMO
I agree, cvsi could have come out with an omega mix any time over the last 4 years, they didn't, and you are correct, there are others already out there. Also, Nordic could have come out with a mix if they wanted to, don't need cvsi for that. If they wanted to, I'm sure Tomic would know where to go, and who to use, who to contract with, on the whole sale end of things.
It’s a fair post. And correct on price compression, not sure on the easy money as most are not turning a profit. Kovler could have mentioned for that post in that 51 m loss, that an impairment charge of $88.5 million related to its Nevada business. Which will not be reoccurring. But yes there certainly will be a washout as it’s worded. A counter to that will be getting the SAFE thru along with making cannabis legal, but still there will be less companies, just bigger as the transition evolves.
Well, I would think you will be right in the ballpark with those numbers. Looking for, and hoping they provide some color on price compression, what the margin’s look like, what they hope to execute going forward, was there any slippage, and what they plan to do with that debt load. What they don’t cover I’ll certainly be able to pick up in the SEC filings but I always like it better when they have a little discussion in the CC. I don’t know if they had any profit in the 4th, but finding out is all part of the fun.
Probable? What makes you think is probable or for that matter even possible considering the state of the company? WHY?
Yup, I mentioned that here before. Why in the world would you have so much inventory on hand. I also bought up that shelf-life issue, but it does look good as claiming it as asset to promote. I seriously question if they could sell it for what they claim in the open market.
It’s inching forward, Booker has been a driver on this for some time, Schumer is certainly on board in the Senate, McConnell not so much and still has enough power to hold this back. Biden wouldn’t hold anything up but I still feel they have a long road to go, and I don’t think it’s a big focus point compared to what they have going on. They are moving the needle, buts it’s a slow needle. What’s even a bigger shock is after what 3,4 years the FDA has now decided they need help from congress to sort out CBD rules, regulations. If I was in Congress I’d be asking, why are you bringing that here, that’s your job. Anyway, thanks for the clip.
From your sticky note above you asked:
“Why should ANYONE INVEST in CV SCIENCES??”
That’s a great question.
Needs tax write off,
Likes playing the lotto,
Saw the Peter Tork look a like ad,
Hit the wrong key on the keyboard,
That is some stuff, also well placed LOL. Thanks
Well, yes. There is no way you can compare one to the other. Many many differences. As they say it will all come out in the wash.
Looks like somebody dumped about 100k in shares in a little less than a min. That was about 30 min ago. Interesting.
Then bring the price back up with those 100 share $4.60 and $4.80 trades.
GAMES A PLENTY
I'm guessing he was, when he was alive. The person your referring to died in 2010.
Well, you posted “We have retired all of our outstanding convertible debt which strengthens our balance sheet and helps us with our long-term strategic initiatives,"
Well, yes, it’s better, still have the short- and long-term debt, but no longer the conv. Also, there is still those notes.
You may wish to look at the balance sheet yourself.
CV SCIENCES, INC. CONDENSED BALANCE SHEETS
Accumulated deficit neg 85 million.
Explanation
If the balance sheet deficit does represent a serious financial problem, there are steps the company can take, such as borrowing money or selling shares. The shareholders are safe, though. At worst, they lose what they've invested, but they're never liable for the company's debts beyond that. However, that doesn't mean they'll be okay with it.
Your going to need a lot of lipstick for this one if you think they don’t have problem with it.IMO
Well 19 trades today, $3600 in dollars. All that is fine, but if they go in with high volume, and try to get out with high volume, it turns into the Hotel California theme, you can in buy in any time you want, but you can never leave. LOL
Press Release: Green Thumb Industries Reports Fourth Quarter and Full Year 2022 Results
4:02 pm ET February 28, 2023 (Dow Jones) Print
Green Thumb Industries Reports Fourth Quarter and Full Year 2022 Results
CHICAGO and VANCOUVER, British Columbia, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. ("Green Thumb," or the "Company") (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today reported its financial results for the fourth quarter and full year ended December 31, 2022. Financial results are reported in accordance with U.S. generally accepted accounting principles ("GAAP") and all currency is in U.S. dollars.
Highlights for the fourth quarter ended December 31, 2022:
-- Revenue of $259 million increased 6% year-over-year and decreased 1%
sequentially.
-- Cash flow from operations of $70 million.
-- Cash at quarter end totaled $178 million.
-- GAAP net loss of ($51 million) or ($0.22) per basic and diluted share.
-- Adjusted net income of $12 million or adjusted basic and diluted earnings
per share of $0.05, excluding non-cash impairment charges.
-- Adjusted Operating EBITDA of $81 million or 31% of revenue.
Highlights for the year ended December 31, 2022:
-- Revenue of $1 billion increased 14% over the prior year.
-- Cash flow from operations of $159 million.
-- GAAP net income of $12 million or $0.05 per basic and diluted share.
-- Adjusted net income of $75 million or adjusted basic and diluted earnings
per share of $0.32, excluding non-cash impairment charges recognized in
the fourth quarter.
-- Adjusted Operating EBITDA of $311 million or 31% of revenue.
-- Strong balance sheet and disciplined capital allocation to support
continued future growth.
See definitions and reconciliation of non-GAAP measures elsewhere in this release.
Management Commentary
"In 2022, Green Thumb reached $1 billion in annual revenue while delivering over $300 million in Adjusted Operating EBITDA. Our team continued to execute on our mission by building authentic brands that resonate with consumers. As a federally illegal business with limited access to capital, we remain focused on our cash position, while consistently paying interest and taxes on time. The lack of progress regarding cannabis regulation from our elected officials in Congress is mind-numbing. The crippling tax burden continues to hurt new operators by greatly reducing their prospects for a profitable and sustainable cannabis business," said Green Thumb Founder, Chairman and Chief Executive Officer Ben Kovler.
"While there is notable price compression in the market right now, units sold continues to climb, up 28% year-over-year according to BDSA, indicating that demand for cannabis products remains strong. I am confident that Green Thumb has the right team, the right brands, and the right operational setup to navigate the middle innings of this industry and beyond. Equally important, Green Thumb had $178 million in cash at year end, which is a $31 million increase over last quarter, and we delivered $159 million in cash flow from operations for the year. This financial strength provides for both optionality and durability going forward."
Fourth Quarter and Full Year 2022 Financial Overview
Total revenue for the fourth quarter 2022 was $259.3 million, up 6.4% from $243.6 million for the fourth quarter 2021. For the full year 2022, total revenue increased 13.9% to $1.0 billion. Revenue growth in the fourth quarter was primarily driven by the legalization of adult-use sales in New Jersey, which began on April 21, 2022, as well as revenue generated from acquisitions made throughout 2021.
Overall retail revenue increased 14.2% versus the fourth quarter of 2021 and 24.1% for the full year 2022. Fourth quarter 2022 comparable sales (stores open at least 12 months) increased 3.4% versus prior year on a base of 65 stores. Consumer Packaged Goods gross revenue increased 1.7% versus the fourth quarter of 2021 and 6.0% for the full year 2022.
Gross profit for the fourth quarter 2022 was $124.0 million or 47.8% of revenue compared to $128.6 million or 52.8% of revenue for the fourth quarter 2021. For the full year, gross margin was $504.0 million or 49.5% of revenue versus $491.9 million or 55.1% in 2021. The decline in gross margin percentage was primarily driven by price compression.
Total selling, general and administrative expenses for the fourth quarter were $80.0 million or 30.9% of revenue, compared to $74.3 million or 30.5% of revenue for the fourth quarter 2021. Total selling, general and administrative expenses for the full year 2022 were $294.4 million or 28.9% of revenue, an increase from $277.1 million or 31.0% of revenue in the prior year. During the fourth quarter 2022, the Company also recorded a non-cash impairment charge of $88.5 million related to its Nevada business. This consisted of two charges: a $57.4 million goodwill impairment charge and a $31.1 million write off of the Essence tradename intangible.
Total other expense was $14.1 million for the fourth quarter 2022, primarily reflecting interest expense associated with the Company's senior secured notes, as well as various fair value adjustments associated with the Company's existing investment portfolio. Total other expense for the full year was $12.6 million.
Net loss attributable to the Company for the fourth quarter 2022 was ($51.2 million) or ($0.22) per basic and diluted share, compared to net income of $22.8 million, or $0.10 per basic and diluted share in the prior year. Net income for the full year 2022 was $12.0 million or $0.05 per basic and diluted share. Excluding the non-cash impairment charges of $88.5 million, adjusted net income for the fourth quarter and full year 2022 was $12 million and $75 million, or adjusted basic and diluted earnings per share of $0.05 and $0.32, respectively.
EBITDA for the fourth quarter 2022 was ($19.6 million) or (7.5%) of revenue compared to $75.6 million or 31.0% of revenue for the fourth quarter 2021. EBITDA for the full year 2022 was $217.7 million, or 21.4% of revenue. Adjusted Operating EBITDA for the fourth quarter 2022, which excluded non-cash stock-based compensation, other non-operating costs, and impairment charges, was $81.2 million or 31.3% of revenue as compared to $76.0 million or 31.2% of revenue for the fourth quarter 2021. Adjusted Operating EBITDA for the full year was $311.5 million or 30.6% of revenue, compared to $307.8 million or 34.5% of revenue last year.
I'll tell you, I was expecting better. need to break down that SEC filing to see whats what.
Almost forgot, in the previous post I didn’t mention the cash position of this company. Last filing Sept 30, they had 1.1 million in cash. The burn rate for this company is averaging 2.5 million per qt. so it will be interesting when that filing comes out.
Well, we all like facts. We’ll put out the current numbers and run a comparison when the Sec filings come out.
Let’s start with P/B which was already talked about here. For ref. under 1.00 would be a goal, however for some they want under 0.3.
Price to Book for cvsi is 5.72x, I know of no other in this sector that is higher.
Financial strength, nope. As they stated in the last 10Q they need to secure a loan. The problem with that is they have no operating profits and it certainly is questionable if their current assets would be enough.
And what about Profitability
ROE NEG- 250.71%
ROA NEG- 76.09%
ROI NEG- 228.01%
Growth rates - None
Operating Profit Margin NEG- 77%
Net Profit Margin NEG- 85%
Balance sheet, income statement, cash flow all falling since 2019.
In regards to earnings, they haven’t had any in 3 years. During that 3 year period they have went from over 6 dollars a share down to 5 cents a share.
These are all current numbers.
Now in less than 20 days I’m guessing we will have the 4th qt and year end numbers. We’ll see how they compare.
Also from the SEC filings we have:
The Company's operating results and accumulated deficit, amongst other factors, raise substantial doubt about the Company's ability to continue as a going concern. The Company will continue to pursue the actions outlined above, as well as work towards increasing revenue and operating cash flows to meet its future liquidity requirements. However, there can be no assurance that the Company will be successful in any capital-raising efforts that it may undertake, and the failure of the Company to raise additional capital could adversely affect its future operations and viability.
And from that “The Company's operating results and accumulated deficit, amongst other factors, raise substantial doubt about the Company's ability to continue as a going concern”
Operating results in regards to this company shows losses every quarter for 3 years in a row. I don’t believe there will be much help from the operating results, I do believe there will be even more losses, which I would think leads to a business loan from somewhere.
“ there can be no assurance that the Company will be successful in any capital-raising efforts”
there have been no capital-raising in regards to business loans in Oct, nor Nov, Dec, Jan, and here we are in Feb. So, at what point do we entertain the-
“and the failure of the Company to raise additional capital could adversely affect its future operations and viability” .
I think it’s a fair question. And so, what exactly are all the implications? All IMO
Well alright! A little less than 2 hours to go and we have $2300 dollars in trades today, a power house day for this penny stock.
Have a couple more companies coming out with earnings so I can't stay for the exciting finish.
Even better than that.
I’m glad your finally coming to the same conclusion as me regarding Charlottes Web retesting 52w low of 0.355, hopefully it holds for you.
MLB= 3 STRIKES AND YOUR OUT.
Besides Charlottes Web, remember Tilray is a great short stock.
P.S.You will see CVSI catalyst soon. Wise Wolf and myself have been giving some hints.
CVSI LONG & STRONG 2023.
My name is Thomas.