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Entire Market is up on Schumer comments. We’ve seen this before, will dump shortly!
I definitely am interested in a PR from the firm that Simon had to sell out to.
None of the originals are there, so I wonder if they'll be able to pull out at all.
Even if things get legalized in the coming years, will this company even survive until that point?
Their leases are up in 2023, so we need news on whether they're resigning or letting it go.
Based on the stock price, this shit's dead I'm afraid. And so is my initial investment.
Agree - this is horrible press for Simon Yu and any company he founds. Not one person will be willing to invest with Simon again. Or his partner Chris with Magiclytics.
Updated OS/Float (!)[color=red][/color] based on Quarterly Report released 8/22/22
368,431,587 as of 06/30/22 - released in the quarterly report
This supports the 10M shares sold to PPM I counted from OTCMarkets
https://www.otcmarkets.com/otcapi/company/financial-report/344184/content
222,534,547 Shares in Public Float as of June 30, 2022
Series C Conversion to common stock, and the current president's board, adding shares to the float. No wonder price has halved from 2 cents to 1 cent.
The filer also tried filing Assets as Total Liabilities, and got those numbers wrong (likely a mistake, but at this point no one's checking them so why should they even have to file accurate data).
Total revenue is 57k June 30, 2022
prior year, total revenue topped $5M in June 2021.
What a horrifying state.
Operating lease expires December 2023 on the farm.
Number of shares in the Public Float:
222,534,547 as of date: June 30, 2022
165,163,340 as of date: March 31, 2022
90,327,895 as of date: December 31, 2021
90,327,895 as of date: September 30, 2021
90,327,895 as of date: June 30, 2021
90,327,895 as of date: March 31, 2021
90,327,895 as of date: December 31, 2020
90,327,895 as of date: September 30, 2020
84,827,895 as of date: June 30, 2020
71,427,895 as of date: March 31, 2020
62,177,895 as of date: December 31, 2019
Total Shares Outstanding:
378,431,587 is OS as of 8/18/22
368,431,587 is OS as of 6/30/22
367,572,887 is OS as of 05/04/22 (Updated) (+755,600 shares sold)
366,817,287 is OS as of 03/30/22
359,034,687 as of date: December 31, 2021
287,300,141 as of date: September 30, 2021
287,235,341 as of date: June 30, 2021
287,235,341 as of date: March 31, 2021
274,497,909 as of date: December 31, 2020
271,097,909 as of date: September 30, 2020
268,883,223 as of date: June 30, 2020
266,516,598 as of date: March 31, 2020
268,883,223 as of date: December 31, 2019
One thing I noticed as well
https://search.cannabis.ca.gov/results?searchQuery=simon%20yu
Many of these licenses are expiring at the end of this year, some in October 2022.
The farm likely won't make it in my opinion, especially since it's not a strong brand, they screwed up the best stock ticker they possibly could have gotten
And now everything likely will expire, so i'm guessing flash sale.
alternatively, KTLO funding from selling more stock and diluting shareholders further will turn this into another Sugarmade.
Let the Market Makers release this stock at all time lows and have this sub-penny. because current leadership is absolute shit at communicating, and now everyone's trying to find liquidity in a market that will become far less liquid shortly.
Thinking about flash selling the rest of my investment here.
UPDATE ON OS/FLOAT:
As we can see, as CEO left, 70M shares came onto the float somehow. As long as these are held within a par value less than current cost, any investor can still make money selling into this company, much like how Sugarmade CEO released more shares and continued selling that company into Oblivion.
378,431,587 is OS as of 08/18/22 (+10,758,700 shares sold to PPM or loan converted since my previous 05/04/22 number)
367,572,887 is OS as of 05/04/22 (+755,600 shares sold to PPM)
Number of shares in the Public Float:
165,163,340 as of date: March 31, 2022
90,327,895 as of date: December 31, 2021
90,327,895 as of date: September 30, 2021
90,327,895 as of date: June 30, 2021
90,327,895 as of date: March 31, 2021
90,327,895 as of date: December 31, 2020
90,327,895 as of date: September 30, 2020
84,827,895 as of date: June 30, 2020
71,427,895 as of date: March 31, 2020
62,177,895 as of date: December 31, 2019
Total Shares Outstanding:
378,431,587 is OS as of 8/18/22
367,572,887 is OS as of 05/04/22 (Updated) (+755,600 shares sold)
366,817,287 is OS as of 03/30/22
359,034,687 as of date: December 31, 2021
287,300,141 as of date: September 30, 2021
287,235,341 as of date: June 30, 2021
287,235,341 as of date: March 31, 2021
274,497,909 as of date: December 31, 2020
271,097,909 as of date: September 30, 2020
268,883,223 as of date: June 30, 2020
266,516,598 as of date: March 31, 2020
268,883,223 as of date: December 31, 2019
Same connection with NUGS previous owner Simon Yu -
Jimmy is implicated with loans into NUGS
company seemed to be on track, then CEO left it to go do social media
Now company is languishing and selling off assets so it can pay for farm.
Farm is about to expire lease in 2023, so if they can't get that profitable, that entire company is going down.
Same as always, stay away investors.
you've been warned!
I just read through their annual report, their cashflows and cash for operations is absolutely horrendous.
I hold a shit ton of shares, but I doubt this company ever gets out of the hole. Do you see their annual operations, assets, liabilities, and cashflow?
It's complete garbage.
Regardless of what they say, their past quarterly reports and annuals have looked like absolute dog water, and I would not recommend anyone put an ounce of cash into this stock. Let them burn!
They're in deep trouble too without more financing to keep the farm afloat past 2023.
Their operations run from 2019 - 2023 lease, and they'll have to renegotiate or scuttle operations. I doubt the cannabis industry recovers by then, so down they go, what a waste of an investment. could have bought TESLA instead
One of the worst annual reports I've read in awhile.
At least the CEO is selling assets to try to retrieve growth.
Again, will be interesting to see if they continue the Farm, or if they decide flash sale, this company is dead, etc.
Let's hope new leadership actually has the vision to grow this company, otherwise we'll watch it slowly decay into nothingness.
Dilution, poor financials, only good thing was Settle on the Lawsuit.
All that's possible now that I can see is an acquisition potentially, if someone wants the real estate they've got.
Previous C-Suite did a piss poor job managing this into the ground.
This company sold more Private Placement shares, further diluting ALL Shareholders:
1,615,250 - Sold likely at discount of current prices. See Total Shares Outstanding.
Zero updates from Lin Yang. I would not recommend buying this stock any time soon as retail.
COMPANY OFFICERS & CONTACTS
Lin Yang - Interim CEO
Simon Yu - Contact Person (Basically got ousted and left the company)
BOARD OF DIRECTORS
George Wen - Chairman
Pyng Soon - Independent Director
Lin Yang - Interim CEO
OTHER COMPANY INSIDERS
Vanessa Le
Grace Li
George JingHua Wen
Chengcheng Zhang
None of them have said a thing about this company.
Looks like also in Oct 2021, they settled the lawsuit these Contractors brought on Nugs Farm.
https://www.pacermonitor.com/public/case/37867449/Montelongo_et_al_v_Valley_Harvest,_LLC_et_al
STIPULATION re33 Status Report Joint Stipulation To Dismiss The Entire Action With Prejudice [FRCP 41(a)(1)(A)(ii)] filed by Alejandra Montelongo, Andrea Montelongo, Rachel Montelongo. (Miller, Sebastian)
ALSO to note: Last Supplemental Info filed as of June 15:
On June 10th, 2022, the Board of Directors of the Company entered into a binding Stock Purchase Agreement with a private party (“Buyer”) to sell the Company’s Downtown Los Angeles Cannabis licenses.
In the terms of the agreement, the Company is selling its interest in their Downtown Los Angeles Cannabis permits and licenses consisting of a Store Front Retailer, Distributor, Manufacture and Medium Indoor Cultivation licenses to the Buyer for $3,800,000.
The Company plans to use the proceeds of the sale for operational expenses, capital expenditures and growth capital for its 6-acre cannabis cultivation in Northern California.
At the time of this notice, all parties have signed the binding Stock Purchase Agreement but closing deliverables are still in the process of being completed.
Pyng Soon.
This might not be reflected in the OS yet as well, as $3M would be a sizeable increase in over 5M NUGS stock if it's a convertible note. Get ready for more dilution bois.
Number of shares in the Public Float:
????????? as of date: July 1, 2022
90,327,895 as of date: December 31, 2021
90,327,895 as of date: September 30, 2021
90,327,895 as of date: June 30, 2021
90,327,895 as of date: March 31, 2021
90,327,895 as of date: December 31, 2020
90,327,895 as of date: September 30, 2020
84,827,895 as of date: June 30, 2020
71,427,895 as of date: March 31, 2020
62,177,895 as of date: December 31, 2019
Total Shares Outstanding:
368,431,587 as of date: July 1, 2022
366,817,287 as of date: March 30, 2022 (Updated)
359,034,687 as of date: December 31, 2021
287,300,141 as of date: September 30, 2021
287,235,341 as of date: June 30, 2021
287,235,341 as of date: March 31, 2021
274,497,909 as of date: December 31, 2020
271,097,909 as of date: September 30, 2020
268,883,223 as of date: June 30, 2020
266,516,598 as of date: March 31, 2020
268,883,223 as of date: December 31, 2019
Wonder what that recent elimination of cultivation tax will do to margins. Its not insignificant for a company primarily cultivating cannabis. Lets see.
Entire industry is down, and likely going down further.
Macroeconomic factors will drive markets lower, with some vicious bear market rallies that trap long-term hodlers.
If you do trade this, I would scalp it. Nowhere in the entire industry do you have companies performing well. Look at MSOS, well below IPO price, and likely could still drop 40-50% from where it's at now with Fed quantitative tightening.
Whatever industry you're in, you're down 40-50% at this time, with some more to come, at least another 30-40% to go from current prices is my guess.
This stock's CEO is finally saving the part of the company that is doing somewhat okay. Whether it becomes fully cashflowing is a separate issue.
Watching Closely any information on whether this company renews lease or lets the cannabis farm die.
In the SEC filing : https://www.otcmarkets.com/otcapi/company/financial-report/228059/content
Section 1.2 Sublease Term: The term of this Sublease (the "Term") shall be sixty (60) months, commencing on January 1, 2019 (the “Commencement Date”), and will end at midnight on December 31, 2023 (the "Expiration Date").
Combine that with the fact they are selling one of the DTLA Licenses, I think they aren't bringing in much positive cashflow -- but I could be wrong too.
Dec 31, 2023 leaves them 1 year, 8 months left on this lease remaining. The monthly rent on this place is not insignificant, so will really need to see how this company survives the recession. If it can't survive the recession, I doubt they'll renew the lease.
ALERT - NUGS management is selling more equity in Private Placements (OS Noticeably increasing, diluting current shareholders again
Checking OTC, I see that Outstanding Shares keeps increasing (AGAIN, since my last post), meaning they are selling private placement agreements or loans are expiring and transferring to Shares of Stock.
367,572,887 is OS as of 05/04/22 (+755,600 shares sold to PPM)
366,817,287 is OS as of 03/30/22
Number of shares in the Public Float:
90,327,895 as of date: December 31, 2021
90,327,895 as of date: September 30, 2021
90,327,895 as of date: June 30, 2021
90,327,895 as of date: March 31, 2021
90,327,895 as of date: December 31, 2020
90,327,895 as of date: September 30, 2020
84,827,895 as of date: June 30, 2020
71,427,895 as of date: March 31, 2020
62,177,895 as of date: December 31, 2019
Total Shares Outstanding:
367,572,887 is OS as of 05/04/22 (Updated) (+755,600 shares sold)
366,817,287 is OS as of 03/30/22
359,034,687 as of date: December 31, 2021
287,300,141 as of date: September 30, 2021
287,235,341 as of date: June 30, 2021
287,235,341 as of date: March 31, 2021
274,497,909 as of date: December 31, 2020
271,097,909 as of date: September 30, 2020
268,883,223 as of date: June 30, 2020
266,516,598 as of date: March 31, 2020
268,883,223 as of date: December 31, 2019
Alert - NUGS is selling off one of it's most valuable assets (in my opinion)
https://www.otcmarkets.com/otcapi/company/financial-report/330102/content
SUPPLEMENTAL INFORMATION AND DISCLOSURE STATEMENT
Period Ending April 29, 2022
Cannabis Strategic Ventures, Inc.
CUSIP: 13765M109
Trading Symbol: NUGS
On March 31st, 2022, the Board of Directors of the Company entered into a Term Sheet with a private individual (“Buyer”) that discusses the terms of selling the Company’s Downtown Los Angeles cannabis licenses to the Buyer.
In the terms, a $1,000,000 deposit will be used to secure the transaction and an additional $3,000,000 will be due at closing, equating to a total purchase price for the asset at $4,000,000. If the transaction is complete, the Company may plan to use some of the proceeds of the sale for operational expenses, capital expenditures and growth capital.
At the time of this notice, the Definitive Purchase agreement is still being finalized and the transaction has not yet been closed.
By: /s/Pyng Soon
Director
--------
This indicates they are forsaking the DTLA scene to pay off some of the farm expenses / liabilities. More than likely they are trying to pay off OpEx so they don't lose the farm, given the farm only has one more year of solid operations (I believe they signed the lease back in 2019? have to go back and check) before the lease is up in 2023 (which they would need to re-negotiate)
I hope this company stays afloat, but seems like there are holes being punched in it from current management (and prior management leaving a company as well)
If it survives, NUGS is a fantastic ticker, if not, good riddance, I'd rather invest capital in Elon Musk companies and innovation.
Checking OTC, I see that Outstanding Shares keeps increasing, meaning they are selling private placement agreements or loans are expiring and transferring to Shares of Stock.
366,817,287 is OS as of 3/30/22
Going to keep this thread going as long as I can so we can see the data, considering OTC lack of data, and lack of updates from the Company's Leadership. Also to note - the CEO has left the company. Typically this is not a great indication, so I'm not certain where this will go, or if they'll keep raising money selling shares/taking personal loans from their Jimmy Chan crowd. Hard not to notice that in the filings that those people are getting massively preferential treatment, at heavily discounted prices.
Their Twitter account just tweeted the MORE article (that every other news organization retweeted) - nothing new, nothing groundbreaking, but the volume of shares has been moving.
Number of shares in the Public Float:
90,327,895 as of date: December 31, 2021
90,327,895 as of date: September 30, 2021
90,327,895 as of date: June 30, 2021
90,327,895 as of date: March 31, 2021
90,327,895 as of date: December 31, 2020
90,327,895 as of date: September 30, 2020
84,827,895 as of date: June 30, 2020
71,427,895 as of date: March 31, 2020
62,177,895 as of date: December 31, 2019
Total Shares Outstanding:
366,817,287 as of date: March 30, 2021 (Updated)
359,034,687 as of date: December 31, 2021
287,300,141 as of date: September 30, 2021
287,235,341 as of date: June 30, 2021
287,235,341 as of date: March 31, 2021
274,497,909 as of date: December 31, 2020
271,097,909 as of date: September 30, 2020
268,883,223 as of date: June 30, 2020
266,516,598 as of date: March 31, 2020
268,883,223 as of date: December 31, 2019
Updated:
Number of shares in the Public Float:
90,327,895 as of date: December 31, 2021 (UPDATED)
90,327,895 as of date: September 30, 2021
90,327,895 as of date: June 30, 2021
90,327,895 as of date: March 31, 2021
90,327,895 as of date: December 31, 2020
90,327,895 as of date: September 30, 2020
84,827,895 as of date: June 30, 2020
71,427,895 as of date: March 31, 2020
62,177,895 as of date: December 31, 2019
Total Shares Outstanding:
359,034,687 as of date: December 31, 2021 (UPDATED)
287,300,141 as of date: September 30, 2021
287,235,341 as of date: June 30, 2021
287,235,341 as of date: March 31, 2021
274,497,909 as of date: December 31, 2020
271,097,909 as of date: September 30, 2020
268,883,223 as of date: June 30, 2020
266,516,598 as of date: March 31, 2020
268,883,223 as of date: December 31, 2019
This is OTC markets so with alternative Reporting) I’m sure they have bit of leeway. Also I’m not sure if you noticed but Simon is no longer the CEO of that company, it looks like they have an interim CEO. The acquisition is forcing Simon out I think. No clue where that leaves this company.
https://www.cannabisnewswire.com/420-with-cnw-data-from-uk-registry-reveals-medical-marijuana-improves-patients-quality-of-life/ - wtf is this even
whoever wrote this article is really reaching there
Probably better ways to highlight a farm's operations. Although I think they settled that lawsuit that was there earlier so maybe they can restart marketing?
GlassHouse Farms is a perfect example of a successfully marketed farm. I wish NUGS had a better brand experience
Did not see any catalyst, but did see the entire Cannabis market go up, mostly single digits.
Wonder if institutions are front-running legislation here
Anyone hear of anything outside of Schumer rumblings?
So a lot of OTC companies got hit by government regulations back in September, specific OTC Pink Sheets.
Any pink sheets companies who weren't reporting accurate data had the threat of a caveat emptor placed on them, and purchases blocked.
Overall, if you look at each cannabis company over the past year, they have dropped to either All Time Lows, or lower than ATL's.
This is the same across the industry, however there is legislation bipartisan which could change that. Overall the industry will rebound if both sides can agree on federal legalization.
Until that point, it will be a slow burn, as this would be considered a Growth Stock, of which many of the Institutional Investors are shying away from.
Think of it as a double whammy - Poor Economic Conditions + Non-legal industry.
overall I think it's great sale territory, but we've got lower to go still. Many companies won't make it out unless they are already cashflowing
WARNING-DONT BUY ANY MORE SHARES
This stock is probably going to zero in the long term - all those like Trader_ron are pump_n_dumpers -- look back to any one of these cannabis stocks they've come to trade - they've always been pump and dumping for ages.
Let this stock die if it can't get things together like all the other MJ startups - if they need people to pump insider shares out, then let this die - DONT buy any more shares
Here's the data I see based on Quarterly/Annual Reports. What's interesting will be the # of shares insiders released to the public float.
Number of shares in the Public Float:
Current Float Unknown as of January 10, 2022
90,327,895 as of date: September 30, 2021
90,327,895 as of date: June 30, 2021
90,327,895 as of date: March 31, 2021
90,327,895 as of date: December 31, 2020
90,327,895 as of date: September 30, 2020
84,827,895 as of date: June 30, 2020
71,427,895 as of date: March 31, 2020
62,177,895 as of date: December 31, 2019
Total Shares Outstanding:
359,034,687 as of date: January 10, 2022
287,300,141 as of date: September 30, 2021
287,235,341 as of date: June 30, 2021
287,235,341 as of date: March 31, 2021
274,497,909 as of date: December 31, 2020
271,097,909 as of date: September 30, 2020
268,883,223 as of date: June 30, 2020
266,516,598 as of date: March 31, 2020
268,883,223 as of date: December 31, 2019
So from Sept 30, 2021 -> Jan 10, 2022, 71,734,546 shares were added to float (sold to investors in Private Placement), based off OTCMarkets + Quarterly/Annual Reports.
Looking at the data though, I'm not certain this operation is cashflow positive if they must continue to raise money.
Anyone here good at reading financial statements and dumbing them down into lamens terms that can help tell if the trend over the years is trending towards cashflow positive?
100% agree. Affordable is the key.
The taxation of it in CA is holding back a heavy amount of growth, in addition to access to debit/credit facilities (Federally illegal still so banks won't support).
Anyone just has to go into a shop and you'll see how heavy you get taxed from one purchase. Don't get me wrong, plenty of rich people in CA, but for the masses? They get rocked on taxes.
Imagine if Alcohol was taxed heavily - you think people would be buying top shelf alcohol all the time? Only the rich would. Poorer / Lower-middle-class would still tend towards moonshine / homemade.
Lots of legislation still needs to change before this industry booms IMO. Until then, paper cut bleedout still.
I'm still optimistic, but I am also ready for it to go to zero if need-be.
I have a few multiples more :) been holding awhile though
Agree - it is grasping at straws, but I haven't found anything related to it, nor have I been able to glean any useful information except the occasional share on Twitter or so. Not much of their social is active, so hopefully this year we see returns.
Without ample legislative help or M&A help, they'll have to go the route of brand building. Hope their product is good enough to survive.
I have been searching awhile for MDRN in Los Angeles and I cannot find it.
HOWEVER I do notice a new shopify/ecommerce site that might be repurposed for modern tree.
www.mdrn-la.com
I hadn't seen this before in google scrapes, so relatively newly scraped.
I wonder if this might turn into NUGS' ecommerce platform once it gets up and running
Market Cap: 7,987,088 (Updated 12/28/21)
Current OS: 319,483,511 (Updated 12/14/21)
Float: 57,177,895 (Not updated since 11/26/19)
Technically entire sector is down, if you have observed the charting for every single MJ related company. That's why I don't sweat this much.
If you're day trading this, Market Makers will eat you alive.
Literally everything is at annual lows. We wouldn't be here if we weren't excited about the reward to risk ratio of something like NUGS.
But for many others, MJ ETF's (MJ, MSOS, POTX, YOLO, CNBS) are good enough, and investing in those should return 2-3x returns as well with a bit more volume and margin of safety in numbers.
I'm fortunate to be in at a lower average price than most, but even I felt the hurt. Be patient, this industry WILL explode. Once it does, we'll all be eating good. It's very well possible my investment halfs to 0.01. too, and I understood that when I took on this investment.
I do agree, the PR in majority of these companies is Fluff except for Canadian companies who are required to report since they listed on NASDAQ, but 5-10 years from now we won't be complaining about anything when things are legalized.
My two cents of course only
Good question, not many details have been released there But based on the press release, it sounds like it might have existed already, so more to be seen on whether its in a good location with free temporary parking or not
what’s interesting is in addition to this DTLA location, now there’s an MOU for the new cultivation site in Sacramento Three hours north of the nugs farm in Salinas. Why is this, its a smaller location at 15k sq ft (0.35 acre) — when compared to Nugs Farm 6 acres, drop in the bucket. 10% of it at first as well.
So will need to see how the actual cultivation ends up, I cant imagine sacramento winters are warm, so additional cost during winter months I would imagine for a fully indoor facility.
Would boost winter month production overall though, so lets see
too early to tell. Dispensaries run in DTLA print cash if located well & marketed well. We have neither of those info's yet, so wait and see I guess
First look at the downtown LA dispensary:
Getting the new dispensary ready! pic.twitter.com/W7n0WBBzNQ
— Cannabis Strategic Ventures, Inc. (@NUGS_stock) October 12, 2021
Expensive living style? that's unsubstantiated conjecture at best, where's proof?
Have you even reviewed any of the financial statements in depth? You have to compare them YoY. Take a deeper look at the numbers, they are moving in the correct direction, albeit not fiscally net positive yet.
I think this probably becomes an acquisition play when big companies start to consolidate, but we'll see what the board of directors decides.
Either way, awaiting legalization before institutions can come in and provide larger liquidity
Agree - wow 40M shares there? There must be some way to get them transferred out.. I’m switching over hoping etrade doesnt have the same issues that fidelity had. What brikerages are you using for OTC trades?
And 100% agree - feels like they are in maintenance mode, I hope we see a profitable company in the coming years, but until then I’ll take advantage of these low prices and swing trade the big swings.
Looks like fidelity resumed capability of trading - but I also created eTrade account to day-trade/ swing trade NUGS as well.
Thanks for the recommendation.
Just confirmed I could place an order for NUGS on Fidelity brokerage, so looks like their recent filings are going to place it back in active status perhaps?
Thanks I'll take a look, I think I had an old eTrade account.
If they're allowing OTC trades even though the company hasn't reported accurately this past round, then that'll be good. NUGS is looking like it's approaching another super juicy level to trade
Agree
I cant even trade due to limited information(brokerage is pausing trading of NUGS).
Anyone else able to trade this? What brokerage are you using?
So annoying.
NUGS dark or defunct flag on OTC Markets
So someone isnt doing their job of disclosing info to OTC Markets.
Hope this gets rectified soon
Financial highlights for Fiscal Year ending Dec31, 2020 look good, particularly:
- $14.1M in Sales (Wow. during COVID too)
- Gross Profit at $2.78M, increase of 483% since 2019
Had a goal of $5M in sales for 2020 at year start (this is true looking back at articles in November of 2020
https://www.otcmarkets.com/stock/NUGS/news/Cannabis-Strategic-Ventures-Reports-Significant-2020-Full-Year-Financial-Metrics-with-Material-Year-Over-Year-Increases-?id=312543
https://backend.otcmarkets.com/otcapi/company/financial-report/291010/content
Late filing, as tradition/historically delayed. 7/15/21
I agree, small catalysts in the direction/momentum of public sentiment help. Take a look at the recent Olympic contender who was the fastest lady sprinter. Now due to an international rules technicality, she cannot compete because THC was found in her bloodstream.
Sha'Carri Richardson is her name.
I think that people like this will serve as martyrs which propel the industry forward as well.
If we look at the amount of States that have passed legislation in the past two years alone, it's astounding.
I'm still bullish overall, I think we'll get there.
I fully anticipate a larger company acquiring this farm -- I don't see this being a standalone brand (although I feel the marketing and brand name is VERY possible to make a household name). Just would need a solid team behind and continual plans for expansion within the US.
As more states legalize, the competition will become fierce, but to have 6 acres of land for cultivation is not a small task either. I think the farm will continue to produce.
Like I mentioned earlier, we need to keep an eye out for the lease agreements being resigned. If they haven't built up any other locations, and the leases are up around 2023, and nothing gets resigned, we know the core directors are planning to scuttle and not renew operations.
However, if we do see renewal, we know we'll be looking to a profitable, cashflowing business riding the right wave.
Definitely need better management and communication if there's going to be any further innovation in this sector though, versus status quo. Let's see what the numbers say whenever they come out.