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You’re staying around waiting for him to be.
And we all bought shares in Cali mandated starting Jan 2018, which didn’t happen. We bought shares on Oregon’s market not being over flooded. We bought shares on Mass mandated testing starting in July (still doesn’t have a date for rec). All these issues alone pushed EVERYTHING back by atleast 6 months to a year. No excuse for A/S. It’s only been two years and they have made significant progress. Things take time to set up and build out. We have two more in Cali on the way. It isn’t WW fault that we are only showing Oregon revenues which that market is peaked out. When revenues show for labs outside of Oregon it won’t be a problem anymore. But Cali shows next Q hopefully Mass on Q1. Again I’m not letting WW go with no blame in some aspects but I’d blame outside issues that impact EVIO for 80% and WW for 20%. I know you disagree with his approach should have went solely hard on Cali, and I agree because they would have been instant returns on the investment. Where we have liabilities in Mass awaiting laws.
Sounds to me like you don’t believe and should sell before you lose all your money. If you believe all that then you believe share price is going to decline and you’ll take bigger loses. Every market has constant changes. These issues aren’t denied by me. But I have a realistic expectation of what a start up goes through for two years including qualified employees. And battling cultivators who don’t want to comply is another battle. There are many hurdles outside of EVIO and WW. Apple once was going bankrupt and Amazon too. It’s hard to expect that after 2 months of Cali mandating testing and only 2 labs we’d have enough money to buy our own without dilution. I guess you have to be business minded and have a forward vision. That’s what success people do. I do not deny there are issues that need to be addressed but this is the OTC for a reason. And again this company is 2 years old. Either you believe in EVIO and WW or you don’t.
Keep in mind two years ago CRON was .62, CGC was 3.50, ACBFF was .80. It takes a while for a start up to get the ball rolling but EVIO will move when the testing market opens up and the US does something about the scheduling. The Nasdaq and NYSE alone have huge impact. Many people avoid the OTC NO MATTER WHAT. This is a start up that had one lab 2 years ago. There has been substantial growth from nothing 2 years ago. Just two years ago there wasn’t even testing laws!
I agree with you on all that. Revenues should have been involved in 8-k as forward guidance with this purchase. It’s capacity, etc. I think there is information on this when we originally purchased 60% of this labs. It is one of the larger labs we have I believe. The positive about it is we sit at .85 and this deal was done at .82. That’s a rather large “buy” at not much of a discount.
The A/S is only a promise to no longer dilute. It doesn’t DIRECTLY impact value. Value is based on revenues and O/S. Not that it isn’t important. It is. But revenues are most important. Lower A/S shows this isn’t a dilution scam, but even with the lower of shares to 100 million he still can dilute to huge loses. This 30% buy SHOULD directly impact revenues and value, although they did dilute at 82 cents to do it.
At 82 cents
Another 550,000 shares diluted to acquire 30% more of c3 labs.
It’s not that easy to grow dry and cure high quality product. There’s a lot more to it than planting a seed and watering it. You need a perfect environment. Also dispensaries sell different strains for different experiences. Also if you grow a crop and lose it to mold or pests you will be going to buy it. Also if you want vape pens or other extracts those take thousands of dollars machines that also take knowledge on how to operate. Why do people go out to eat when they can cook at home? Same reasons as above.
Since January. It took several ~600k days to push over $2.
Citron and CRON will be discussed on CNBC at 5pm ET. Says will discuss the “the dark side of Cannabis”.
Large ask blocks.
I posted it a few weeks back. I believe. I’ll have to look for it but I’m about to board a plane from west coast to east coast so I’ll have to look tomorrow.
MPX definitely an upgrade but we purchase Portland two years ago and no combing it. That’s all I meant. For judgement calls. We purchased two labs that we no longer use.
Combining
To tie into that. They seem to be combing MPX and Portland lab. So that’s two wasted labs with Yuba.
Timing is everything! Good for you!
http://imgur.com/EaVuGDy
Evio IG post from Cali Bureau of Cannabis Control
Thanks
Great read. Thanks.
Also keep in mind EVIO is about 2 years old. How long have the other players been around. Especially those successful Canadian ones. Building business takes time. I couldn’t get a mortgage until I had two successful years filed. And that 2nd successful year (my third year in business) I had filed for an extension. It takes a few years of proof of concept to get real investments. I always like to take the blame and see how I can be better next time. I believe we all bought in too early. Timing is everything. This will prevail. If I could have predicted the delays in all states and over supply and permits in Oregon. I would have waited until about now to start buying.
There are negatives and concerns as well. As Steven said we definitely can’t operate at ~$4million in loses and not dilute further.
I think the Oregon market is a terrible comparison to the markets elsewhere. The prices here are significantly cheaper. The price drops combined with 280e are definitely hurting growers and dispensaries which effects the whole market.
What’s the name of the brand you work for? I’m going to keep a look out for it in Portland.
Good points. I also have a solid Canadian MJ portfolio that’s done me nicely since 2 years ago. This is my only US MJ stock that I’m a believer in.
And to add onto your point. Oregon was the only mandated testing in our last reported revenues. Again, not WW fault. We had all anticipated these labs would be fully serviceable in January and Mass only just started accepting applications and still doesn’t have a date for rec sales which was originally July 1st. Many of the factors have nothing to do with WW. There were def errors made and some unfulfilled promises (A/S for sure). 18 labs is a missed goal that I don’t mind at this point, it would only further dilution when testing is the last market to be set up (growers and dispensary first).
Is it better to over pay for the labs later or better early cheap but pay salaries, rent, and utilities with little revenue for months-a year waiting for mandating testing? Obviously it’s the perfect balance in an unpredictable scenario.
Let’s get these new Cali labs rolling, update us please!
Trying to better figure out how value stocks using fins.
Based on kush bottles revenues, o/s and market cap. My estimate with $8.5 million / year (so I guess I’m hoping for $2.5 million for Q1 due in Feb fins, HOPING Mass gets it together by then, and the Cali build outs are operational, which I’d like to hear updates about.) would give a share price of ~$3. But obviously we still have work to get done in a timely manner to be set up for the perfect conditions and would take until February to be shown.
What would revenues have to be to reach a $100 million market cap?
I can see $3.5 million in revenue yearly from Oregon. I would guess the same for Cali with the two leases and another $1 million from Colorado and Mass. Not sure about Canada because I don’t think they have mandating testing (or what they do isn’t as specific and strenuous?). My low revenue estimate is $8.5 million for 2019. But we already have ~$10 million is assets now. Would $100 million market cap be reasonable?
The market cap here is still significantly higher.
Lol for sure only 6 o’clock here. I have enough for a few days though.
Also got a “Twax Joint” which was tested twice for one joint because it has both flower and concentrate in it. Produced oil on 4/18/18, Tested by MW Labs 4/22/18 and flower produced on 5/8/18 and tested by SC Labs 5/16/18.
http://imgur.com/9iJIEZ1
Will keep my eye out for other products tested by evio to check turn around time on product but the market definitely seems saturated here or the black market is that much more powerful. I feel like Portland will give a better feel for that as I’m kinda in the middle of nowhere in small tourist beach towns (Seaside, Oregon).
I do not have private messaging. I added a description in the following post.
A 1 gram “Cherry Pie” pre rolled joint. Harvest date 10/15/17 by SoJ Farms. Purchased at Tsunami Marijuana in Seaside, Oregon.
http://imgur.com/4H6KeIv
Bought this today. Tested by Evio 12/19/2017.
And this is the only state we’ve reported revenue from. Prices in Cali go up to $60 for an eighth from what I’ve read. So definitely different market and I expect mass to be similar with the few licenses they are permitting.
.. a black market battle driving prices down.
Spot on. And despite all that Evio should see revenue growth this Q from Cali and Colorado testing laws changing. Then even more so once Mass goes live. Also with two more labs in Cali being built (hopefully by Q1 as planned) revenues should catch up.
I’m in Oregon now just got in late last night and everything is tested here has lab on packaging. I stopped at one dispensary outside Cannon Beach this morning grabbed a few things. Some p roducts tested by Evio some by SC and there were a few other labs as well. Also as prices go they had a sign $40 for 1/4 ounces and .5 gram pre rolled joints are $3-5 each. So prices are definitely driven down probably because of over supply of market which leads to black market
I believe revenue in Oregon is all we have right now and is maxed out part in due to black market but also due to over supply. Revenues for every other state just came online last month. No excuse for share structure. We’ve been over all this.
Like you once said are you crabby cuz you have the wrong color popsicle?! Wa wa wa. Sell then. You have not been here long enough and are a repeat of info from other people’s due diligence. Your original info brought to table was how successful this will be because WW gained weight and put his health on the line! Lol. Honestly your opinion on here means nothing to me.
I said nothing of that sort. You are terrible at reading in between the lines. I’ve addressed my other concerns other days. Look up 280e for understanding of tax deductions. Which is my topic of today.
Honestly I assume that Evio has the same problem. I attended a seminar that discussed in Colorado that general contractors also couldn’t deduct jobs done on any Cannabis related project.
Correct