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I would agree with all for the most part, with some wiggle room per se as there really are no hard fixed multiples utilized as it's dependent on so many factors.
(Shorter reply as have still been traveling a lot past several months)
Industry has shown, and continues to, valuations coming out on the higher end as opposed to lower as well. (I always try and go as low as possible for various reasons.....)
Other attractive markets as previously discussed are moving forward rapidly (IL, NY) if not already there (CA, NV). I would think with DP it's more a matter of the perception of the brand and locations as well (valuations) and can easily see from day to day in industry a segment getting very emotional about the locations, brand, designs, etc.
As the industry and all within moves forward, everyone is trying to position to claim their spot......some doing better than others, and, DP definitely has their spot, so...
I think any and all stated by any of us on this, regardless of the specifics utilized, lead to currently undervalued, so...(Hence my even most conservative estimates, it's still undervalued, let alone more generous....)
Additional note;
One of the things I/we have been doing lately is writing in back ends on all engagements due to how much activity is taking place calling for first shot, (ie: If you think you can sell for $10MM, I'll take option because I know I can sell for $11, 12, 13+, etc....working on 3 new ones like that this week alone..
Also:
In speaking of valuations, we're speaking of sales, but of course how else is such established other than what is anything worth on the open market in an arms length transaction, etc...
Any way you slice it, it's undervalued.
That's not exactly the case....
Their largest acquisition valued dispensary locations at $26MM each, with some of those being rented strip mall locations with very poor performance, and about $2k in furnishings. I have a post or over there with direct links (of exterior and interior pics).
The industry as a whole during 2018 has also seen more successful dispensaries falling not only in that range, but as high as $58MM(each) by other publicly traded companies.
DP I believe holds options in (I believe) the $6-7MM range, but as stated before, the premium alone is worth (this second) many times what this is currently trading at. (Example: 3 options for 21MM total. At a very reasonable price of $10MM each ($30MM) those options carry an automatic $9MM premium. Not sure O/S, but even at $9MM many times greater than currently trading at.
I'll pay the entire amount currently trading at right now to control the 3 for $7MM each. (I know I could flip them all for $15MM each immediately ;)
$1MM outlay to control 3/$45MM? Done deal. Where do I send the check? ;) LOL
Figure should be OS divide by premium (9MM). ($0.36?)
(Entire value should not be used as that would be additional payment) Value as is (premium on options) is indeed a value that exists this second)
25MM OS at $9MM premium is $0.36 a share.(And that is based on $7MM option and $10MM valuation which may very well be a little on the low end given the brand and what it is, and represents.....)
An ever greater value would be hot spot locations (Las Vegas, New York, Chicago, Miami, Socal) which would create a cumulative value much greater than $10MM each.
Could easily see a $20MM (+) valuation for the locations above (each)...
Not a bad deal when $1.5MM to establish the locations ;)...(more or less....) I/we have one location that cost about $900k to get it running about 18 months ago and just passed on a $15MM offer recently.
I think OS by $9MM is fairly reasonable and accurate value. (Even $3MM/$1MM per location premium is several times current)
I hadn't seen that specific article and statements, so interesting to see their commentary, but about as expected, and not necessarily a bad thing, as would give them many options (worse case scenario), such as simply keeping the best locations and performers, but of course, what would be ideal is retaining all ;)
Definitely not a "big thing" per se, just an issue ending for NY. (Cuomo has also stated he/they wish to oppose/prevent vertical integration, which in itself seems unlikely to impose on the original vertically integrated operators, etc...)
We'll see.....not something that should be considered a serious problem, just an issue they face in NY that may or may not affect holdings....either way, positioned well in NY which (adult use) is sure to be immense....
Lot of speculation on how NJ will affect NY (or vice versa), and I don't believe this specific company will be as affected as much as others. Those with more disposable income are not going to go to NJ to save an extra, let's say 20%. Will some? Absolutely. But their specific demo most likely not.
I love MM. Endless trading opportunities, regardless of position(s) (short, long, or both), as well as one day in the future the above (immense). I'm well into 7 figure gains since trading began and anticipating the same for many years to come...
An there you have it, as stated previously.
Was anyone actually surprised?
Several notes on various matters addressed:
As discussed before, given who and what they are/the brand is, and the activities in the market currently, there seems to be many opportunities for such a brand/store/reputation. New York is moving forward currently more than ever before. Chicago (IL) rapidly as well. SoCal possible. South Florida would require a little more due to current licensing overview. Las Vegas easily done as well.
(Luxury brand, NY, LA, Chicago, Las Vegas, etc)
An additional note that some may not be aware of:
I'm industry and have been directly responsible for an enormous amount of dispensaries and cultivation facilities throughout the nation and world.
There is an enormous amount of individuals and groups who have a great interest in the industry, wish to invest/enter, but do not necessarily wish to directly participate in the process and day to day operations. (Think of the difference between a chef/owner operator, or an investor in a known and respected chain)
Given the investment community in those areas (NY, Chicago, LA/SoCal, etc) I think they have more opportunities than most. (I'm even tempted to contact the company and have a discussion about when I come across such investors)
Many are not aware the highest quality product, in any market, anywhere, any time is always a rarity, and as alcohol, there will always be a segment of the public which seeks such out, to which cost is not an issue.
As also discussed previously, the premium on their options alone are easily worth 10 times what it's currently trading at. More and more lately an area I/we have been entering, ie: I'll gladly enter into an agreement to buy for $7MM, because I know I can get $10, 12, 15MM for it...
Keep in mind though, the NY (PCann) holdings do present a potential problem.
Previously outlined here and PCann additions surpass license caps.
There may have been some progress in this area that I am not aware, as I've been traveling for almost the past 2 months and focused on other states and countries.
Hopefully the new year treating all well.....
Especially those with wisdom and who know the game ;)
Well, I think as every acquisition is folded into the numbers there are going to be significant increases which will have a direct reflection on overall movement. Last Q was 20-25 range? so they're already entering into $100MM (annual) range. Throw on adult use NY, IL, and FL and given the accompanying cultivation, easy to see a much higher range there. But again, that's in the future. IL probably the closest with inauguration and draft (adult use) bill awaiting(January), NY won't be as quick, but should be proceeding, with FL in the future. (CA, NY, IL, FL essentially top markets nationwide, NJ aside which should drop (adult use) prior to NY.)
People also have to remember, the matters we are discussing here/now are always many (many) months ahead of the general investment community.
Many different schools of though/strategy(ies) but in general, by the time general investment community become aware of something, usually "too late", so.....there is a segment who desires to position in advance of such...
I really like MM at the lows...and feel very comfortable with such...
The boards sometimes have a life and perception of their own.
If one acknowledges valid shortcomings, one is assumed to hold a certain position, and if positive, is assumed to hold another.
I have an intimate, first hand knowledge of many/most, of which I would never disclose for various reasons. (MedMen and Pharmacann included)
But there is a difference between personal (and professional) opinions, and trading opportunities, and it has always been my position, even when pointing out the negatives MM is/will be an absolute gold mine for a disciplined, patient, and cautious investor/trader. The last several days certainly seem to be such an opportunity.
I think there is no disputing they will one day be absolutely immense. The downside is what is/was the cost to accomplish such. I think moving forward their numbers are going to be absolutely comical (revenue increases), but again, at what cost.
NY and FL markets going to be absolutely ridiculous (adult use) as well as IL (adult use), and they're positioned well in all 3, but again, the costs. (FL specifically, due to number of locations permitted).
What specifically bothers me is the PCann write ups/PR's touting them as superior producers, which they are absolutely not.
Can that be quickly and easily remedied? In the blink of an eye. (Change out cultivation staff, done deal) Myself and associates actually undertake "turnaround" engagements. (Lesser quality facility and production, get the on track as high quality producer. Most of the time simple, quick, and at very little cost. Anything, anywhere, at any time can be turned around very quickly and easily, so, this isn't something (to me) which is too much of a problem/issue.)
(I also have an issue with them (PCann) being PR'd as "one of the largest", as they are definitely not....Maybe top 30 in holdings?...)
As above, I think it will do very well (the stock, traders/investors), but they have quite a bit of work to do before they truly "dominate". (And they most likely will for various reasons)
What bothers me most is PR'ing inaccurately (by many newer entrants to industry). The industry has struggled for far too long to reach this point and have companies presenting false information. I personally find it a problem moving forward.
I love MM (trading), up 7 figures since they started trading, and feel very comfortable with the bottom(s).
Which is all obvious to anyone who reads the board at any given time, on any single day over the age of 6.
It's quite interesting actually as one can visit various cannabis company boards and see the exact same arguments being utilized, which only display an lack of understanding of the basics in the industry, nationwide.
One will see a constant rush to proclaim facilities are "rented", as though that means something. Unfortunately, as addressed dozens, if not hundreds of times with large amounts of supporting material, this is the norm, always has been, and actually for those companies that do (own properties), sale-lease backs are becoming more and more common, with leases for cultivation well into upper 7 figures being done daily.
One will also note the theme of "they have no skilled oversight", which then becomes "why is all their skilled oversight partnerships".
One will note recently cultivation displayed, which rapidly disappeared into the daily noise, without little more than a glance.
While everything continues to move forward, the subject matter addressed continues to move backwards ;) lol
Vegas a given, again, considering the consumer and brand, but stand alone in a suitable location (for the brand) would work well.
I don't think given their current model as much capital required (property control, with option on business(es).
You as well, and I accumulated heavily in the 1-3's ;)
Given who and what they are and the brand is, I would expect and like to see LA-SoCal/NY/Chicago in the stable in the future, as would be most suited for the nature of the brand. (And the customer demographics/disposable income required, etc)
(NY and IL adult use is in process as we speak and CA adult use in play of course. I'm sure there would be interested parties in such sites in said markets, and feel confident in stating such)
I'm not sure this can be implemented against existing stakeholders currently operating, as excluding the same established operators from participating from that which they already are would be questionable, and the mechanics of such an action would be difficult (legally).
They can provide guidelines for additional licensee's during crafting the adult use (when that time comes) such as license limits and preventing vertical integration, but I don't think they would be successful in applying towards existing, established, and operating medical stakeholders.
I also don't think such is practical and will make it to final regs drafted. Lot of variables there.
In actuality, it's somewhat refreshing to a degree as what is being seen more and more is the same (existing stakeholders) trying to prevent additional licenses from being issued.
McGovern "DD"-Post #274250
Should be about now. I stated months ago timeline would be about now, company stated months later about the same. (Q4, Dec).
Speaking of what is conveniently excluded lol, one will note no one ever mentions who and what NuLeaf is.
The NuLeaf team, which has operated BPG cannabis dispensary in Berkeley, CA, has been a premier vertically integrated supplier in California for over two decades.
Who and what is BPG?
Established in 1999, Berkeley Patients Group is America's longest-running dispensary and a respected leader in the cannabis industry.
One will also note the absence of what an immense and wise opportunity such was. (Cost what about 20% of valuations market has been establishing for similar operations)
50% of 30k cultivation and 15k extraction for $5MM, when recent sales for similar sites (Las Vegas cultivation) have been as high as $58MM.
Nothing but 100% accurate facts above.
Yet conveniently excluded ;) lol
One is free to review my post history and the numbered and labeled exchanges with you.
I don't have time (nor an interest) in addressing that which has been literally dozens of times, if not hundreds.
The latter is something that is avoided being addressed at all costs by those claiming to present a "thorough" and "unbiased" and "honest" overview.
Of course, how exactly such can be done avoiding all current activities and holdings a mystery, isn't it?
People will reference revenue decline, but not why.
People will cite costs, but not what was result of such.
The same will declare the company "is done"/"failure" when how is such possible to declare given the pipeline in progress.
(I would laugh and throw people out of my office who declared something had failed when builds not even complete yet and harvests just about to begin lol)...
I could tell you right now what every reply will be, and from whom ;) I assure, a crystal ball I do not require in order to do so ;) lol
They do in fact have many issues and (actual) shortcomings, quite a few, but those are also conveniently ignored, as that would involve addressing the previous aspects. (Matters currently under development)
I think another issue in play is the lack of real world business experience of many on the board. (Feel free to view my original post on current suit filed, and match against the company statement issued much later ;) lol....
I tend to operate on the assumption we are all reasonable, rational, professional adults here......
Not the case unfortunately.
Unfortunately, it seems as though you are attempting to have a reasonable, rational, unbiased discussion with those incapable and unwilling.
The fact (fact) of the matter is every significant decline has been the immediate result of external, nonsensical, and insignificant events, verified by the charts themselves over the past 2 years or so. Sessions statement start of new year, panda hit piece, and current nonsensical suit recently, as well as several more.
Secondly, one will note the absence and refusal by any and all to address current company activities and holdings, which represent quite a bit of cost. The focus is always on financials and filings, which are quite dated at any given time, and exclude all of the above. (Current activities and sites in development). $5MM right off the top for a cultivation coming online, another $10MM+/- for a site under development currently, and on and on....
This is a common and ongoing board theme. An absolute and complete refusal to address anything remotely positive. (Try it..see if anyone is willing to speak about anything currently pending and under development.)
This is not to say some points are valid, but when conveniently excluding others that are quite significant, one does indeed have a questionable motive.
The response by many will typically ignore the above, and reply with "look at the share price" which does, and does not reflect many things other than it is simply where the irrational, illogical herd which is "the market" is running at the moment.
The same always has been, is, and will be true:
If one had/has a valid point, there would be no need to deliberately deceive, exclude, and falsely represent various matters.
The majority of all activities (and the costs of such) throughout the past year have actually been quite wise and beneficial.
Am I saying buy? Never would. Sell? Nope. Hold? That is for one to decide. My position(s) and commentary is never to steer or advise like many clearly state, and the very same those who conveniently exclude and avoid actual day to day company activities.
Pay close attention now to the one liner replies to this ;) lol
As I just recently mentioned regarding expansion, several more dispensaries acquired yesterday/today..
Yes... :) I do pretty much know what almost everyone, everywhere is doing, all the time, but for many reasons I certainly can't/won't state it publicly. I operate nationwide, and pretty much know the majority. ;)
Revealing advance info of any one parties activities would be frowned upon by many, so ;)....
Actually, that was not the first move by tobacco into cannabis, there were previous moves outside U.S earlier this year, which I believe was involved in Canadian and overseas/global production sites. We had actually had some brief discussions earlier this year regarding the overseas licenses we have. Believe the ones earlier were U.S, as well as U.K/Euro and overseas sites. I'd have to look it up when I get a sec. (Ehh, give me sec, can probably find 1 in literally 3-4 seconds....)
U.S Tobacco, Canadians, and hemp (February 2018)
June 2018 more activity
Actually quite a bit of news lst couple days as well.
More Altria (the absolute most absurd deal yet $13 Billion/$38 Billion)
Budwesier/AB just made a beverage deal as well yesterday.
I've said before, at a time when absurd attention by tobacco and alcohol, while a beverage launch in process, and a 30-40k (I forgot, Carnegie) building empty while another being considered for production and bottling site, makes no sense not to have a dedicated site focused only on beverage line. (I also believe beer should be included in that line as well, which would be a simple deal and addition)
Stand alone production and distribution site with any degree of successful market penetration? Would be worth more than trading right now (alone). I also believe given 15k manufacturing site, (Nevada) about to come online, beverage line should be introduced to Nevada asap, and think it would do extremely well given the nature of Vegas/tourism market and consumption limitations, and again, per gram returns on production with beverages obscene..($800 gram, which is $350,000 a lb yield....That's assuming 2.5mg doses/products and a $2 markup per. (So call Beers $3, etc, whatever.....or any combination thereof....."fun math" is that's about 750 cases above. (2.5mg, $2 markup per, $350,000lb, so, $350k on every 750 cases........A heavy adult use market (CA, NV, NJ, NY, IL, etc)...one could imagine the possibilities and wondering if I'd take a challenge to try and move 750 cases a day ;)...
Have actually been doing more and more work regarding beverage line development and introduction into adult use markets here and there ;)...
All these things are very easy to do...
Typical statements delivered by those who entered the industry in the last 2-3 years...
I personally have quite different thoughts about several aspects...
Some interesting data:
Alcohol (USA sales) is close to double tobacco. (Around $200 Billion annually from alcohol, $120 Billion give or take from tobacco).
One of my (TRTC) issues was mention of having bottling (and assuming manufacturing), done out of a portion of Dyer, already housing cultivation, extraction, and dispensary, and other intent and consideration for Carnegie.
I'd personally have Carnegie a dedicated manufacturing/bottling/shipping site which "big alcohol" would find much more attractive (and valuable), and could also possibly be sold stand alone. (Not in combination with cultivation/dispo included/on property)..
One of the matters I strongly disagree with, but the intent may very well have changed over the past several months.
If going beverages at a time when alcohol has expressed an interest in the industry, big mistake not to have stand alone facility exclusive of sales and production.
I'm personally looking forward to seeing execution, and, despite what many might state (always lacking basic real world experience)....I think distribution throughout state and market penetration would be very simple.
Strong sales team with a little guidance and some promotion, no reason they can't ship out to every dispo all day long (every day).
Of note:
Cannabis industry the past 2 years or so has seen quite a few ex alcohol/soft drink personnel hired for sales, so....and, as discussed previously, minimal markup we're talking $800 a gram returns on concentrates. (on top of beverage itself, assuming 2.5mg dose single servings.)
Just my stance. Carnegie should have been/be stand alone manufacturing/bottling/shipping. (Probably in itself worth more than currently trading at lolol)
I do have a fairly sound working knowledge of this specific aspect of ops/industry as well. (Infused beverages/lines, production, sales...)
Well, as previously, I think the single greatest factor currently (which seems to be overlooked and underestimated) is New York's commitment to adult use.
Between MM and PC NY holdings, those combined in a NY adult use (#2 national market after CA) alone are immense. (Assuming PCann's cultivation (product quality) is dramatically improved.
I think I was mistaken on earlier assumption it being a 180k. Looks like a 127k but Medmen has a cultivation site as well I believe. (I forgot their NY cultivation specs and status, but from what I have heard from several sources, it's lacking currently).
The issue though which I haven't seen discussed much (if at all) is NY actually has a cap limit on licenses per operator. That has to be addressed and resolved.
Of note is IL also has a license cap per operator, (limit 5 dispo, so PCann and additional Oak Park dispo hit IL dispo limit) and the most recent NJ RFA results (2 more RFA's coming) implemented a similar approach in no more than 1 ATC/License was awarded to each group, despite their score results in the process.
Either way, established footprint in a NY market with advance medical positioning for adult use is quite substantial. And given recent events, I'm surprised to see little reaction to it given the impact on revenues, similar to IL adult use which is in process and should be passed fairly soon as well. (IL a NJ/Murphy scenario in the sense adult use waiting for inauguration of new Governor who speaks daily of wanting it done asap. IL #3 market after NY)
I think as stated previously, this was an easy call (in the 1-3's) simply due to the premium of the options themselves, which I think was discussed are/were worth (alone) probably 10-20 times that was trading at the time....
(Note: I don't remember what the options were exactly, think the $7MM range each? I could shop all 3 tomorrow for probably $10-$15MM plus each, so......an easy call...)
Would never make a call where it will go or where would end up, but was certainly immensely undervalued at the sideways bottom....
Not that I saw, but the WeHo was always a challenge, and I stated such many times, for many months, as it strayed from a traditional scored process in that they (The City) were looking for "a vision" per se, and did not provide applicants guidance as to exactly what that was, so, I think WeHo was always a long shot for many, and the results tell quite the tale for anyone well versed. (I don't want to start using names of different companies and groups and such)
Would have been nice, but, without a firm process and target, what could one expect.
Essence also won in the West Hollywood proccess, which I would assume becomes part of recent Nevada deal as well.
Tuesday, December 18 City report
WeHo Announcements Posted
Full City report for all licenses
City page also has all scoring results per license as well
Lower on page labelled as:
Adult-Use Retail (Application Scores) [PDF]
Medical Dispensary (Application Scores) [PDF]
Consumption Lounge (Smoking, Vaping, Edibles) (Application Scores) [PDF]
Consumption Lounge (Edibles Only) (Application Scores) [PDF]
Delivery (Application Scores) [PDF]
As I stated earlier, even the most brief review of suit (I did) by one with any legal or (actual) business experience in life makes it easy to establish it's all nonsense.
I've seen it all before, many times...(yawn)
Could predict it all pages ahead lol...
No court will entertain suit as is.
EDIT: WeHo announcements will be posted by close of business today (5pm Pacific)
I would fully agree with the assessment of motivation, and having spent decades in this industry sitting at the same tables with almost all at some time or another, people cannot even begin to imagine the questionable behavior, actions, and strategies employed daily in the name of what they desire and seek.
Up to and including, let's call it "permanent" solutions to individuals posing a problem.
Dirty, nasty business.
btw, New Jersey was announced yesterday afternoon and even the briefest review by anyone well versed on the industry (nationwide) will find the results questionable. (All MSO's, and possessing firsthand knowledge of almost all winners, quite surprised at several)
As posted elsewhere, one of the notification letters for review of winners and scoring.
Firstly, I did not initiate that discussion by providing 100% false info. I merely corrected such.
Secondly, anyone is welcome to address how much the 60k and the 30k are going to cost to develop, as well as the costs from commencement through first revenues, but no one ever does.
GLD specific discussions have always been lacking for some strange reason.
It seems you are continuing to insist a multi billion dollar industry does not exist, or that farm animals are fed $3,500lb retail product, which produce $25,000lb (retail) extracts.
CBD products derived from hemp range from smokable flower, all the way through extracts and concentrates such as shatter, wax, and isolates, and quite expensive.
Isolate is the latest talk of the town, because it helps individuals get relaxed and soothe their anxiety, without getting you high (0% THC). You can mix isolate with your favorite essence for enhanced flavor.
We developed this blend of terpenes based on a number of different strains known for being sedative, relaxing, and heavy. This profile is a favorite for people who are looking for a “couch lock effect”.
It also seems obvious being corrected has no effect on your firm stance to that which is clearly not, and lacking the most basic understanding of that which you speak.
I'm sorry, but it seems you're misinformed and lack a basic understanding of that which you're attempting to address.
I think the NY market moving forward will bring an enormous amount of other licensee's, so, current standing would not necessarily indicate future, but as previous, the PC cultivation is quite significant. (As previous, I believe 180k). Current providers are incapable of serving a NY (state) adult use program.
I'm (intimately) familiar with quite a few of their sites and operations (acquisitions as well). They have a lot of work to do, and an even greater expense.
I'm industry, so I tend to focus on shortcomings (nitpick), which is often considered many things.(When something good, I favor it, when something bad, I'm opposed). Truth of the matter is I don't care either way. It's been extremely kind to me so far this year already (7 figures in gains), and I'm sure it will well into the future.
I think they'll do well, as will wise and disciplined traders and investors for years to come , and if they can execute, truly will be immense at some point, but that's a ways off....
New York, given the PC (PharmaCann) holdings is probably going to hold the most promise out of all activities. (I believe the PC NY cultivation is in the 180k range. The lease is a little unreasonable, but given the potential of the site, is what it is and full production will have little impact.
I believe MM has another NY (cultivation) facility as well, but from what I know of it, needs quite a bit of work....
NY adult use will occur, just a matter of when and in general, wh8ile New Jersey will impact some (NY) operators in a scenario where both have adult use, MM should be less so than others due to their retail locations, etc. (ie: Manhattan shoppers aren't going to head to NJ to save $30, etc)...
I did skim and what very little I saw, as previous, was nonsense I've seen many times before, so, for me, it was kind of a glance "reading between the lines"....I could go into great detail actually about quite a bit I noted from that (brief) review. As written it's a "farce", which I don't believe any court would entertain as is. (I wouldn't...)
Even an employee commenting to an investor about daily revenue I've seen before lol...(I've never been an Alvarez fan, and definitely wouldn't have been even top 10 list..)
Same old story. Someone who wants things they're probably not entitled to under operating agreement, refusing to accept such, trying to grasp the same despite lack of entitlement to such.
Had a client once, dispo newly opened, were just hitting break even (about 100k a month gross) and (one) guy was demanding "where's my $50k a month, I see what you guys are making!" lol...($100k gross, cogs/operating probably $75k a month, leaving $25k pre (280e) tax...we were continuing build out and expanding so still had another $500k to accumulate ($250k inventory, $250k build out), operating agreement also stated distributions at discretion of managing partner(s) (which he was not). Sent demand letters, filed suit, etc...(Rough numbers to convey point, was a couple years ago)
He didn't even win his cookie lol.
I was wondering if anyone here can actually explain what is the issue.
Been traveling, did flip through an obviously nonsensical suit seemingly filed by counsel that had little to do lol, but assumed more to do with not being on New Jersey list (which is a moot point since 2 more RFA's coming as well as adult use additional licensing)....
I've seen similar suits before. (Parties demanded things they weren't entitled to, threatened to sue, we said go ahead, good luck.) And if they sue and win, they get a cookie. lol...
All I saw here at a glance was nonsense, so....lol
They actually did very well in New Jersey, and it represents quite the favorable positioning for NJ adult use, #2 U.S market, which should be finalized and moving ahead shortly.
It should be noted, 2 additional RFA's will follow (another 12 ATC's) prior to adult use licensing, but as above, it's a substantial market and they do outperform (production/quality) most on that list. (All licensee's were/are MSO's, with the majority a joke and questionable quality product(s)
If anyone curious, Beth Stavola-MPX award letter found here for review.
Everything I have heard is the NJ Monday was dependent on favorable Murphy meeting last night, and it is not expected to make the docket for Monday as of today.
But sure they'll be working through today and the weekend on it and that could very well change.
And there you have it. As stated. Quite promising.
The endless supply of inaccuracies and purely false information is always simple for all to plainly see, and far more than could ever be addressed and corrected, which is the strategy.
Just as obvious is addressing matters that already have been over and over again, while the most basic rule always stands, which is:
If one had a valid argument, one would not be attempting to support it with the inclusion of 100% false information and absolutely nonsensical speculation, which actually seems to be greatly increased the past several days from what I have seen.
The 100% false information today alone endless amusement. (Yesterday was equally amusing. I've been traveling, but have stopped in for laughs lol)
Looks like some new nonsense as well, such as "guaranteed failure" due to hiring a GM for a facility lol, as well as other nonsense lol.
But all no more nonsensical then declaring a several year old (conceptual) business plan as cast in stone LOL...