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The city (WeHo) review and scoring process is now underway (late July), and updates the 1st and 15th can be found on their website for anyone curious.
I like Cali, and have spent a lot of time there, and do a couple little things here and there but not the "ideal" engagement(s), so, been holding back to see how it all plays out and keeping an eye on Triangle (Humboldt specifically) opportunities. (Many years on and off there doing large scale farms, so, know many, know the areas well, comfortable, etc).
"work it". I've been. 100 dispo's and cultivation (probably more) under my belt (and now foreign governments and operations).
I've been "working in retirement" for quite some time now. Nowadays it's just a matter of gravitating towards engagements in places "I like to be"......Family/Summer in Chicago/NY, Arizona/Nevada/Cali in winter, overseas for "changes of scenery".....
95% of what I/we do is remote work, so.....location means nothing...1200 camera feeds on my phone, doc work is emails, guidance by phone calls, so...Haven't been to our (absolutely insanely astounding) office in about 4-5 years now...90-95% of employees have never seen my face, 50% never heard my voice.
At this point just in the "how much is enough" phase....
I wouldn't necessarily say that's required.
I fully agree with the Western, and have stated here many times they're between 2 stakeholder only licensing processes. (sell 1, build out 3 more....)
Personally, I would have gone with utilize proceeds to write the check for Spanish Springs 40k and still have enough left to build out maybe 1-2 retails depending on site specifics.
Regarding the Carnegie, I (personally) think it should be retained but depends on specifics. (Who wants it, and what is the use?)
They seem to be moving in a direction I have stated for quite a while would be wiser, which is nice to see, and as of late, yet further in that direction, ie: What is the most we can do that will cost us the least (if anything).
Personally? I'd secure the cultivation (permits) for Carnegie, bring in 3rd party to pay for it (25% interest), and have additional cultivation (75%) and the build out "for free" essentially, which would further contribute to value as well. (Have someone else put up money to build it out, retain as much control as possible and then sell for $20M, etc.....(Point being, as is the case every day nationwide, it's worth more with a permit on it than without, and it's worth more operational than not, etc...If utilized as cannabis location (by another party), I wouldn't surrender control.(Another possibility would secure cultivation permit, build out, and a supply/manufacturing/wholesale deal with party taking over, etc....)
Ive said many times.....in many ways, I'm actually more critical than anyone here, and, in the past 12 months, virtually all of my issues have been addressed. (No more premium price acquisitions, grab permits in house for pennies. Tighten up marketing. Utilize opportunities that call for less money (if any) such in the the SA 25% deal)....
Have I/did I relay my concerns to company? Maybe I did, maybe I didn't :)
I like everything lately....and have said many times, starting to appear "they finally get it/this game"...(the real game ;)....
I'd fund the NV 40k cultivation first with western proceeds and use balance for dispo permit locations. (GHouses cheaper, quicker to build...they could have that operational by NYE.....)
Lot of variables there....
Another aspect would be the WeHo....(as above, trading up locations, etc)....if it is Carnegie to fund major WeHo location, that is another possibility as well....with enough left over to acquire an immense NorCal outdoor (for extraction), so....
Or, yet still, Carnegie sale could fund WeHo, any NJ needed as well...so.....(one could then make Carnegie sale contingent upon WeHo and NJ victories (done all the time in industry, sale contingent upon x event(s), etc.....)
I think a lot of those there is information that isn't available as well to make an accurate call, but in principle, I think they're starting to "Play the game" how they should ;)....
Yet another approach is have outside funding fund everything in the future...ie: We won this, put up build out and we'll give you 30%. We won these 3, put up build out and operating expenses and we'll give you 25%, and so on...
I'd rather have 60-75% of 10 locations that didn't cost me a dime than 100% of 4 locations that bleed the company and shareholders...etc....
As one can see above, there is literally dozens of ways to proceed to keep costs down and yet rapidly expand....(This is my most favorite aspect of this game ;) and it looks like they're starting to "get it" ;)....
I personally never attend such (send specific parties) as most of the time like this one they publish vid, but this was a "mandatory" event. CA has been very good about their events. (Available online)
Sometimes it's a matter also of observing (potential) competition, gauged by the questions they ask, and the whole range of behavior aspects as well.
I would think for one not directly involved it would be quite the chore :) LOL, but I love that stuff lol.....truly do (many years now in the application game, and all states and programs not that different, so, once you do one, all others to follow are fairly simple. (It just becomes a matter of what the differences are)
I personally believe and think have said prior this is what I was looking for (company specific).....ie: Submitting Jersey. Multiple can be submitted as well, so...would like to hear in the end they submitted 3.
There's also a lot of strategic tweaks that can be done moving forward I'm not going to say out loud (favorable to company and footprint/operations) but NJ quite the opportunity in the whole scheme of things, and if they don't win this one, another process opening before the end of the year, as well as adult use getting closer by the day, so....Revenue wise, the NJ cultivation footprint is the target. Everything pending now (additional $), and throw NJ on top? (and this process is basically as soon as they (anyone) can get open, your in business ;), which makes it even more attractive (in addition to adult use positioning)....
I've had a lot of interactions with current and potential NJ groups.......more than 50% don't have a clue....)
There is actually quite a few factors in this process which are very favorable to the operator... ;)
Lot will be known as well when the final applications submitted is established......(6 available,how many final applications to be scored)...(Target would be submit 3 and 100 total/final (or less) to score....(33 per area, 2 ATC's available each area, 16/17-1 ratio, etc.....Strategy. Easier to outscore 16/17 than it is 100, etc.....)
They did of course (company) clearly state they have aggressively been moving on this prior, so.....
It's definitely an "acquired taste" that's for sure. (licensing applications and regulations). I personally love that stuff, on many levels.
Some additional relevant notes;
1. While addressed (everywhere) the extremely large turnout, that isn't/will not necessarily be a direct reflection on applications submitted, as-
A. The limit of attendee's per (potential) group was 4 people.
B. Many who attended may very well never submit an application.
C. A large portion of applications, as always, won't even make it beyond the initial review and into the scoring process, as is always the case, anywhere, anytime, any state.
Given the various approaches and opportunities (5 different/separate now total) available, I have no doubt they will secure whatever they seek. Success on this one would be best as far as vertically integrated and adult use positioning, but another one coming soon. (One can also right now submit several as well).
I love competitive app processes...the more well funded the competitors the more I love it :) lol I've got some pretty interesting stories I rarely ever speak of ;) lol
To answer your nonsensical statement:
This is my business, my industry, and it's part of my daily life to know everything, about everyone, everywhere, all the time. (And I'm pretty close at any given time to such)
This just happens to overlap with my trading activities (cannabis industry), so as an operator, I'm always interested as to activities and execution.
Your also free to point out one single statement I have made during my entire time here which did not accurately address the day to day projects and operations in a third party unbiased manner.
(Just one would be fine.)
I find it odd how you declare and equate "blind loyalty" to the company through posting the NJ application event. lolol
Why are you here?
New Jersey Mandatory Pre-Application event.
In case anyone is curious about the specifics.
Let's be honest and realistic.
Well, we know one thing is certain.
That none will offer any commentary or mention of what is in progress, and what is occurring, and what is taking place, as previously, that is something many desperately avoid in their "thorough, unbiased, honest, and accurate" analysis lol.
As previously, I was looking for and had mentioned previously NJ application, which it seems they are indeed preparing and will submit.
Of course, as is the norm, prior to Q3, we may see various (additional) permits issued, various (additional) operations commence, yet many will completely ignore such, focus on this call and statements, despite those events occurring following such.
Carnidges and quaters......just carnidges and quaters. lol
An additional note on New Jersey process, is while the announcement itself stated an additional process to open shortly (fall/winter) it is also stated yet another process during 2019.
That brings the total opportunities in New Jersey to 5 separate opportunities and processes.
(We were just addressing an NJ matter today and an associate pointed that out...)
If you do not understand anything about the company and it's activities, (since you were asked to provide such and refuse to do so), possibly that might be a starting point before we get to caranidge's and quaters.
Yet you failed to respond to a request outlining all current activities.
I have no idea what this posts says, or is trying to say. What's a caranidge? Are you attempting to address something about the company yet when asked for such are unable to?
I think the greatest factor addressed (today) was they are proceeding in the NJ current application process for the 6 vertically integrated ATC's which submission deadline is the 31st (of August), which indeed had a mandatory (pre) licensing event today, and as I have stated many times, (and was stated by company) will indeed allow for adult use positioning as well.
What I do not agree with is the (consideration of) sale of (Carnegie) as there are many ways to approach this and maintain control as well as profitability. (I can literally think of a dozen ways off the top of my head)...
I do find several aspects of interest as it has been my stance for quite a while to focus on permitting process and no more acquisitions (which carry heavy premiums), and as also stated, if they maintain this focus, should enable all further growth at the most reasonable costs possible.
I do know statements about many opportunities being presented which are very attractive to them (daily lol) are indeed true.
Personally, NJ submission is what I was looking for.
Most of it nothing I haven't said before....(Western sale occurring between 2 stakeholder only processes, etc)...although, while he did state "they should hear" something 30-60 days, technically, those licensing processes call for decisions to be made within 90 days (from submission, to approve or deny).
The mention of Gladstone activities was done for a reason..(as was to provide more frequent updates as to progress ;)
You tell me.
Outline all current activities (right now, today) and their schedules and timelines in all states.
I challenge anyone here to do so.
Any response otherwise means you can't or won't.
What is very clear, and always ever so obvious (and amusing) is the absolute refusal by many to even discuss anything remotely current, let alone positive.
One can point me to commentary about how while yes, quite delayed on some matters, dramatically ahead of schedule on others...
Haven't seen those :)....
We see as of late direct refusals to admit numerous matters have changed since the last quarterlies and statements, despite documentation (including regulatory confirmation) contradicting their stance and statements.
We see time and time again the very same having no understanding of virtually any matter the company is involved in..
As always....there is no "positive or negative"...
There is only what is.
I think any commentary whatsoever which clearly avoids discussing what is isn't worthy of note.
Or possibly quite worthy of note ;) lol
Anyone who absolutely positively refuses to address anything current under any circumstances......well, I think says it all :) LOL
Lets help investors clearly understand what is the closest date TRTC will receive revenue from their cultivation site under contruction in Southern California....
The latest information regarding current activities appears at the top of the board.
TRTC Current Holdings and Activities - Updated 7/29/2018
Those are based upon current and documented activities. Not statements from May 10th.
It's August 8th.
Outdated and inaccurate.
The very same was posted on Saturday
Despite the majority fully verifiable as outdated, inaccurate, and not applicable here on Saturday.
Please explain the licensing limits for Las Vegas and Clark County and your thoughts on the 2 stakeholder only license processes currently in progress including your thoughts on why the closing of the dispensary sale would be 90 days, and how that corresponds with the mandatory time frames for the state to issue the licenses from both processes above.
It is not speculation that New Jersey is a substantially larger market than NV (double), and including all applicable MSA/CSA's, actually triple/quadruple the NV market. NYC metro and tourism is actually double the NV market in itself.
Cultivation infrastructure currently in New Jersey almost 20x larger as well than NV current footprint. (50% of 30k sq. ft., with 40k pending and not operational currently so excluded)
2-4x the market size. 20x the cultivation footprint with structures being readily relocated to any site if necessary.
None of the above is speculation. NJ may carry limited licenses as well.
Incorrect. The term "banking" is often misused.
The ability to possess a business checking account in no way, shape, or form allows cannabis businesses the full range of traditional banking services such as business loans, lines of credit, and (commercial) mortgages.
2. Pointing out the State of California is not the IRS/Federal tax liabilities also in no way, shape, or form addresses the 280e burden cannabis businesses face in the United States.
When I have 6-7 minutes free and the desire to do so, I will provide a banking/COGS/280e cumulative overview so as to prevent having to revisit these topics time and time again.
Got it.
So you see no reason to enter the 2nd largest market in the nation unfolding as we speak with a limited license cap a fraction of almost all other states that are markets several times smaller when government relations have been built with 7 figures worth of infrastructure (movable) sitting as we speak.
Duly noted.
Well, NJ actually misunderstood as all in all it represents/will represent 4 different and separate opportunities.
Some will argue NJ legal issues are a factor, when in the end, it's one more of convenience which agility can easily overcome. The current licensing process (Aug, medical) allows for applications in every region/multiple application submissions, with the very same carrying a statement more expected to be available and another process open, as well as the adult use in process and every day getting closer.
While NJ "the biggest" as you stated, there are certainly many other events in progress which while not as big per se, are quite substantial. (NV harvests and extraction, additional NV cultivation, 2 NV stakeholder only licensing processes, as well as numerous CA in the air such as the SA Non Retail in progress, WeHo, and so on....
I'd agree though....."biggest" would be NJ as everything else in progress really just a matter of time, completion, commencement....ie: done deals per se aside from WeHo, which I always say shouldn't be relied upon due to the variables of the process itself. (They're looking for a "vision" as opposed to traditional firm guidelines of scoring, etc....)
I think the NJ issues much less than everyone believes, and can be easily overcome many ways.
If it was me I'd have 3 different properties for 3 different applications in process and be moving ahead.
I'm more/most interested on the execution and strategy...
"Nice and simple" is always preferred, but, doesn't always work out that way :) lol......
Most important (any project) is that it just gets done, regardless of what that requires.....
Keep in mind of course SA P1/P2 Non Retail status (possibly addressed on CC) as well as WeHO is now in progress (review and scoring) with updates on the 1st and 15th. (On the cities Cannabis page)
A reminder the city (SA) does not yet know how it will address SA Non Retail P1/P2 updates (or if at all).
While stated there will be permit news addressed on CC, I'm hoping this is not the above and rather addressing the recent NV stakeholder only process.
So possibly additions to the holdings this week/next week.
(Ideally, the it would be NJ application in process, and not the known above but I think additional NV licensure would also be welcomed)
An additional note:
One area in the cannabis space that seems to escape people and some utilize in a negative manner are the timelines associated with pursing an endeavor and revenues beginning, which quite often for various reasons can sometimes be quite a while due to delays, be that local/county, through state (program) regulatory, and any and everything in between. (Equipment on backorder, any given part involved on vacation, long holiday weekends, etc...and on and on)
It's not uncommon for someone to announce an endeavor, and then through delays investors/shareholders start to question the progress and validity, and the "chances of it coming to fruition", which in the end, is nonsense.
(Again, my profession). Local SUP/CUP's, state applications, build outs, COO's, state approvals, veg times, flower, post processing....
They always get there, so one of the things I always look for (in market) is simply that the process is underway. (There are always delays of one kind of another, part of the game per se....)
Those with ill intent always seize on any and all delays on projects in order to create doubt when it's simply part of the game.
I lost interest in the Vegas whenever it was they proclaimed something along the lines of the "most sophisticated", etc, which was quite a while back, and something these days which more and more, every producer and facility states.
There are very few reasons for one to utilize (actual) tents in an indoor facility, and the space displayed outside of those is very disappointing in many ways, of course done on the recommendation and guidance of someone, for some reason.
An argument could be made (and would be valid) that tents can be popped up immediately to commence operations of fair size while the build continues. (A series of 10 x 20's, 8-12k (lights) each could be set up within days and possibly pull several hundred units before build is completed)...which is occasionally done depending on the state guidelines and what/if they allow such.
I stand corrected. GH was mentioned and then I saw discussion of tents. I had thought Vegas was long done and underway. Indoor build outs with existing structure are usually extremely quick. (I've seen entire 40k-100k facilities go from breaking ground to plants in and commencement in as little as 3-5 months in various states.)
Some further corrections:
Clarification:
Please point out anything I stated which you deem inaccurate or false.
I'm familiar....Just stopped in......but I could easily stick around as well...which some may like, and some definitely will not.
I know one thing:
To simply state anything was incorrect yet not address exactly what, nor correct isn't a good start.
I don't disagree another bump up is coming in the future, but my commentary industry operations specific. As previous, a nice footprint with significant yields and revenue, but think as prior, he may be overstating.
Plant is primarily water/moisture, and if they've only been pulling down for a month or so, nothing has probably even been packaged to ship yet. (4-5 weeks from cut till self ready give or take...dry/trim/cure/package/ship)
From the sizes of the bays, plant sizes, and how they're harvesting (looks like they're hanging, then bucking into containers, then trimming, then into containers, etc)
Those bays are definitely not 350 units shelf ready each. (several decades nationwide large scale cultivation experience.)
Professionally, I don't think he should be publicly stating weight quotes and revenues prior to finished product being shipped given his role (management of publicly traded company).
Market can be very unforgiving to inaccurate statements.
(Per unit wholesale cost also varies per batch and strain as well)
He seemed to be a little off on his estimates on the bays still in progress as well by a week or two here and there.
My profession.....I'm just nitpicking (it's what I do)...
56k depped is a goldmine nitpicking aside...(and looks like they're doing well as far as staggered bays (harvesting a bay weekly, etc) as well as canopy management.)
I would only point out that he's speaking of various recent pulls (harvests) and their timelines, yet also making statements regarding "wet weight vs. dry weight" which would indicate he's not quoting weight of finished shelf ready flower. (Which would be supported as visually, one can see none is).
Make no mistake, 56k is a nice footprint (multi ton facility as seems depped (light deprivation, manipulation of photoperiod, etc 24/7/365 yr. round production), but I think he might be over quoting a little...
Played way back, made enormous amount, just stopping back in to see how they were doing now that starting to bottom out again...
This has been addressed, at length, repeatedly, in your own posts.
Shall we list those as well?
$1k each was paid (per your own repeated posts)
Duplicate post.
Majority already addressed here.
Well, TRTC relevant, that's why I found events worked into facilities of interest, as in many cases of various venues, venue benefit and income from alcohol and such, especially with smaller venues.
I'm more music side, but say "entertainment" as insight into venues and the mechanics. Rarely has a month gone by (over 20 years) I don't get inquiries about managing venues or bands, sitting in on production of recording sessions, and as known to many venues, provide input into marketing, strategy, bookings and such...
I do work 24/7/365 essentially, but my one weakness/luxury is shows (concerts)....."1st row" junkie.....go to about 50 shows a year across the country. Don't really indulge too much anymore (due to constant work), so...more a "couple hour break". (Go, see show, talk a little and back to work/tasks at hand). Last year was probably a dozen Roger Waters shows/different cities (1st row for all) and Dream Theatre the same. (Both moved me such had to see many more regardless where they were)....
Back to TRTC incorporating events (which is also probably in the WeHo proposal), as above (alcohol, venues, income), what better for a business that adding several hundred, 1000 or more people occasionally to traffic through your retail for products (ie: build in traffic)...
But this is a delicate matter as well. People gravitate and bond with various venues for different reasons, so, booking is always a big issue and can be approached in many ways. (The best is usually to book a wide range of events/genre's to develop multiple/wide range of consumer bases...
It would probably start as "experimenting" per se, tracking the stats to see which genre's/events produced the highest sales...(which is of course, in the end, the target of such: Sales. Joke: Hip Hop/Rap people might be the highest sales, but not worth the extra security screening for weapons and the trouble lol...
Most of my "favorite places" are such for smaller reasons, such as pulling my tickets (1st row) before on sales for me, granting my booking requests, and so on...I have "VIP" status at a couple venues simply by what I spend annually, etc...
Just had a discussion with one venue (over a ticket misunderstanding) to simply from now on pull 1st row right and left (before on sales) for me and I will let them know what I want (if at all) as some acts I want certain sides according to band set ups (on stage)....(I usually want in front of guitar players set up and cabinets).....sometimes that's right, sometimes that left depending on who...another venue told them I'll pay double for the same option (and let them know what I want, and if to release them, etc....)
Part of background in music, so....that's "one of my things" per se....music (various genre's) and (music) venues....
Lot of "retirement" talk here lately....
Mine will probably be purchase in whole or in part one of my favorite venues (1,000-6,000 seats)..
Have a friend/associate who owns a 2,500 seater and books about 200 shows a year (complete spectrum of events and all genre's) and seems to enjoy it immensely...(virtually every day of his life a show lol....)
This has always been the case...
Alcohol, "vice", medical always solid performance, which actually increases for various reasons, as well as in some cases entertainment per se....which has become/is a complex issue in recent years as well. (Well versed on entertainment/music industry)...
In the end, all boiling down to "distraction(s)" and "necessity(ies)"...which could be viewed (technically) in many cases as not, but to the general population and consumer is/are.
Well, in some ways, it can at least be understood........ie: "It's June 2018, and they said Aug 2017 they were going to be up and running by Dec 2017", etc
I suppose in that way I'm a little more familiar and "conditioned" than most where my response is "yeah, so...", with "It'll be done when it's done" something within my daily vocabulary :) LOLOL...and of course, as shared before, I've had encounters with (actual, real) people in real life where everything is "the sky is falling/we'll never get it done"....
Sometimes delays can be local (city and county build related), regulatory (state permits, inspections, approvals), other times, can be something as utterly minor and obnoxious as a specific finish (unique to branding) simply on back order for 2 months, (countertops, finishes, etc), or (usually lol) both.....even further combined with the above.....ie: local building inspector is on vacation for 2 weeks, then when finally gets back and everything done, the state enters a holiday weekend, then when reopen, state contact is on vacation, then a back order on site materials, then so on and so on....
Welcome to the world of having to deal with 50 different agencies, people, companies on a multi faceted project....
(And then when done, the furniture you wanted isn't in stock lol).....
And it all costs money....(prolonging the opening as well)
And in the end? So what. lol (imagine having 5-10 of those simultaneously :) LOLOL
All the while investors either face to face, in person, or on a board somewhere complaining ;) LOL
In many years, I've never not had someone come back with "You were right, about everything, all along, sorry"....(and I tell them they're going to be doing that during the process ;) lol......
Only here is there an absence of such.....ie; "I was wrong, they got it done, and did a good job"....
When one actually realizes delays are only that......the fact that they have 2 dispensary builds currently in progress, with 2 cultivation at same location also now in process, 1 extraction awaiting approval to commence, 1 cultivation in design/engineering, one NV permit process ended and another beginning, and several different NJ processes unfolding....
Fairly reassuring...(know I left a bunch out as well)....
I'd expect the Dyer and the Carnegie to be done by NYE, NV extraction commencing any minute, and NV cultivation week 9-10 right now, so......lot should be dropping by NY's...and any and all delays aside, that's in process and reality.
But what that also carries is, as earlier displayed in the case of Dyer and Carnegie, having no idea when certain processes or events might occur, and attempting to provide target dates based on such, and 35 days later having 4 issues develop which month earlier there was no idea.
While their timelines were 6 months later than planned on those, I don't see any commentary that now, on 4 issues, the timelines appear to be 6 months ahead of schedule.
Started in June...(When in May commencement stated as Q2 2019)
2 months, no commentary on being ahead of schedule on 2 facilities and 4 licenses.....)
Which would normally be part of any "truthful, accurate, and honest" analysis you would think ;).
I think, as has been stated many times before, people don't understand how the industry and the operations (and licensing processes) within it work.
The Nevada cultivation (NuLeaf, 30k) was announced in August, 2017.
At the very same time, it was also stated commencement of operations (for the extraction awaiting approval as well) was expected "by the end of the year". (2017)
Commencement of operations began (for cultivation) June 1st, 2018, with the extraction awaiting approval as we speak to commence.
A similar case can be said for the Santa Ana Dyer and Carnegie retails, of which was discussed since 2017 I believe, and even as cited earlier, as of May 2018 was still not in progress, yet 30 days later, not only did all that change, but the cultivation application period opened as well. (awaited since 2017....)
As is obvious day to day, each and every delay is approached and utilized as a "they lied", or a doubt "whether such will actually ever happen", which has been seen often and utilized by many, many times.
Regarding the upcoming CC and the claim "Big permit news" will be contained within such, since Santa Ana Dyer/Carnegie were announced, and since WeHo has now just begun the review and scoring process, I would hope that anything "new" would either be the Phase 2 Santa Ana cultivation process for the Dyer and Carnegie (of which the city is not making public for the time being), or possible related to the Nevada Stakeholder only June application period, or possibly a New Jersey submission.
The point above stands. When things are in progress and face regulatory delays on any number of fronts, many leap to utilize that as a stance on such never occurring, when in virtually ever case, it does, has, and will.
I deal with this every day and always have. A delay is a delay, not a declaration all endeavors will ever take form and come to fruition.