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White House Drug Czar Says Biden Admin Is Reviewing Marijuana Policies And Safe Consumption Sites: "The policies that we’ve had around marijuana have not been working."
MORE act is up for a vote next week (official)
It's not just about reporting the financials its about why the board/CEO/CFO and all internal execes have been in black out (no trading allowed) for over 3 months now.........something big is going down.
If you connect the dots - MO/JUUL/CRON could easily become the market leader in (no smoking) THC delivery systems..........hmmm!!
As outlined above in Part III of this Form 12b-25, the Company has not completed the preparation of its unaudited financial statements for the quarter ended September 30, 2021. Therefore, it is not possible to provide a reasonable estimate of the changes in results of operations from the three month period ended September 30, 2020. However, subject to finalization of its unaudited financial statements, the Company expects to report for the three month period ended September 30, 2021, as compared to the three month period ended September 30, 2020:
•a material increase in net revenue;
•a material increase in cost of sales;
•a small gross profit;
•a material increase in operating expenses;
•a material increase in operating loss;
•a material gain on revaluation of derivative liabilities; and
•a material loss in total other comprehensive income.
Extract from Ginkgo's 3rd qtr results below:-
* the achievement of our first equity milestone for Cronos in Q3, demonstrating full target performance for manufacturing of CBG and the first commercial launch of products containing biosynthetic CBG in October. * Additionally, we're thrilled to announce that just last week, Cronos successfully validated full target performance for a second cannabinoid molecule, CBGV, unlocking a second equity milestone (which will be recorded in our Q4 financials);
I believe Cronos has exclusive rights (via their agreement with Ginkgo) to all product produced using the patented process.
I guess we will see when we finally get an announcement
Below is the text on the tweet and they attached a copy of the patent application showing that it had been issued on Nov 1st.
when are @cronosgroup and @Ginkgo
going to announce the issuance of their Biosynthesis of cannabinoids patent? This is massive news for #biotech and the #cannabisindustry!
Cronos/Ginkgo Biosynthesis of cannabinoids patent.........This is significant!!
when are @cronosgroup and @Ginkgo going to announce the issuance of their Biosynthesis of cannabinoids patent? This is massive news for #biotech and the #cannabisindustry!#cannabis $CRON $DNA pic.twitter.com/CYav5IEAF5
— Matt Connors (@Matt__Connors) November 3, 2021
You never know even the fool might be right :)
https://www.fool.ca/2021/09/30/3-cannabis-stocks-to-buy-before-the-next-boom/
Insider ownership is up to 88.15% and short sellers are leaving (last few weeks).
Something is cooking ........fingers crossed!!
Security CRON / Cronos Group Inc.
Shares Outstanding 371,805,547 shares
Insider Shares 327,729,572 shares
Insider Ownership 88.15%
Total Insiders 22
Current Short Volume 18,800,000 shares
Previous Short Volume 20,610,000 shares
Change Vs. Previous Month -8.78%
Dollar Volume Sold Short $124.27 million
Short Interest Ratio / Days to Cover 11.1
* The $1B in cash on the BS isn't slated for just organic growth he says with a :)
* The next 1-2 years will be very interesting he says with a smile :)
https://spinachcannabis.com/forms/edibles/
Cronos Edibles are now available
Currently CBG is one of the most expensive cannabinoids due to the high-demand, low-supply issue. While the price may vary from supplier to supplier, the average cost appears to be about $30,000 – $50,000 per kilo.
Versus dry flower cannabis wholesale is approx $2,300/kg US
Altria quietly planning to dominate the cannabis space with Cronos as it trojan horse.......be patient folks!!
https://www.forbes.com/sites/chrisroberts/2021/02/09/tobacco-giant-altria-is-pushing-marijuana-reform-on-congress-and-state-lawmakers/?sh=66b63f576041
https://www.cbc.ca/amp/1.5873512
Altria news CPP (Canada pension plan) vests all Altria interest.
Tilray and Aphria near merger - Bloomberg
Dec. 15, 2020 4:45 PMTilray, Inc. (TLRY)APHA, ACB, CRONBy: Stephen Alpher, SA News Editor
According to Bloomberg Canada, Tilray (NASDAQ:TLRY) and Aphria (NASDAQ:APHA) are in advanced merger talks. An announcement could come as soon as this week.
Developing ...
Tilray up 10%, Aphria up 4% in after hours action.
The M&A animal spirits is lifting other sector names: Aurora Cannabis (NYSE:ACB) +2.5%, Cronos Group (NASDAQ:CRON) +3.5%, Canopy Growth (NYSE:CGC) +0.4%
Considered that as well. It might be that Altria is getting ready to make their move and purchase outstanding warrants??
That's got to be a concern. If they were planning some activities soon to drive up shareholder value 2 key board members wouldn't choose now to sell shares.
Your thoughts?
/ BREAKING NEWS
The House of Representatives on Thursday just voted in favor of an amendment to protect all state, territory and tribal marijuana programs from federal interference.
The measure, which would prevent the Department of Justice from using its funds to impede the implementation of cannabis legalization laws, passed in a 254-163 vote on the floor.
Reps. Earl Blumenauer (D-OR), Tom McClintock (R-CA), Eleanor Holmes Norton (D-DC) and Barbara Lee (D-CA) sponsored the amendment, which builds on an existing, more limited provision to shield only state medical cannabis laws from Justice Department intervention that has been enacted through appropriations legislation each year since 2014.
Saying nothing while everyone is shouting loudly is really smart.
Remember “the emptiest drums make the most noise” ??
After 1-1/2 years of bag holding at least let me dream :)
What if today’s announcement about becoming BC continuance is to pave the way for a Tilray (headquartered in B.C.) merger or acquisition?
Their Israel strategy starting to make sense while they wait for the US.
$ACB $CRON Israel Takes Final Step To Allow Cannabis Exports, European Market In Sight
I agree. Their shareholders need some short term action to keep the excitement level up. It will likely come in the form of an accretive acquisition. They have stated several times that currently assets are becoming cheap while credit is expensive and that they can move aggressively/quickly if/when the right opportunity presents itself........fingers crossed.
Raymond James - Cronos is like Apple in the 70's
https://www.cantechletter.com/2020/05/cronos-group-today-is-like-apple-in-1977-raymond-james-says/
The only one left from the original Cronos executive team is the CEO and that’s because of his close ties with a couple of high powered board members out of New York. Altria controls the board and the purse strings ie CFO. They are running the company and have been for a while now. They know they have a distribution network that no one else can duplicate so they are just taking it slow and making sure they have the cost base/product offerings and capacity in place before they start to take it for a test drive. Frustrating as a short term investor but will be in great shape in the future.
Everything they are doing/talking about is VERY long term focused. This won’t get close to where it was in Q1 2019 until 2022 at the earliest in my opinion. ........VERY DISAPPOINTING!!!
Only hope is they find an accretive deal soon to boost shareholder value but I wouldn’t hold your breath.
Potential bankruptcy ratings for all LP's from yahoo finance. If you invest in this space and are long CRON is the choice.
https://ca.finance.yahoo.com/amphtml/news/which-pot-stocks-will-survive-cannabis-bankruptcy-risk-131732204.html
They apparently have decided that bulk flower going to suppliers for processing into oil etc doesn’t constitute a sale. Just means that the revenue from the oil will be deferred into 2020.
They also made a significant high level Altria board change. The ex Phillip Morris CEO is now on Cronos board.
This is just Altria cleaning up & getting ready for 2020 & beyond.
My guess is moving plants to Cronos GrowCo in Kingville, Ontario. Probably means the new massive greenhouse project is getting close
https://ir.thecronosgroup.com/static-files/0b87ea15-6de9-4a58-ae12-eb924bd2b42b
Altria presentation explains the strategy
In the last call they said they were taking a portion of Stayner and converting it to R&D. They have supply agreements in place to cover their needs. Cronos is NOT an agricultural company.
Me too and it feels like it might be getting close!!
I bought a large amount at an average of $6 so fingers crossed
Cronos is already being ran by Altria behind the scenes. They have control of the board and the CFO/Chief technology officer are now Altria. The latest org change announcements remove 2 more Cronos execs to make way for the next wave of Altria. They are switching to US$ denomination and US GAAP reporting as well as implementing the same ERP system (ie seamless transition). When they exercise the warrants it will flip to being a US centric business and I expect that to happen sooner than later.