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All market manipulation in pre.
It sounds like you are smoking already! lol It sounds good but its not happening. FACT
Previous management understood the MJ space they just new nothing about scaling a business. Add their appetite for greed and they destroyed something that could have been great. Now you have some sharp suits in there that without capital will salvage this whole thing for pennies. I sold out half my position, took a big hit and really I was in it for the long game. Right now it feels like the game is over!
Well if they are dumping there is a lot of buying into the close. The real play is wondering why he and Modine made large stock purchases within the past month. Maybe looking for a more favorable earnings report? Remember he is no longer the CEO but is still on the board until at least the next board meeting. That is where I expect him to be "Steve Jobs".
He can't do anything till after board of directors meeting where he is probably 100% going to be voted off the board completely. After that is will be outlined based on his departure package as to just what he can do. This is really in a nutshell a corporate takeover by the big boys who happen to be the heaviest invested in Medmen.
He isn't allowed to sell yet
They don't have to execute a hostile takeover. If you really can read whats happening....they own the control of the company. With voting shares in control they would just have to vote for "Andy to be removed". 75 million is about 2 months worth of debt service....that's it. GOOD NEWS RESPONDS FAVORABLY! NOTCIE TODAYS SHARE PRICE!
LOL Like they have ever hit any of there forward looking guidance! You missed the part about the voting share transfer....for a year. That's why they got the additional funds and the one year is all they will get before a takeover comes into play. So far they are still burning cash and not producing in California. They pay a premium for the pot they get and repackage. Not a good business model......looking forward that is!
It will not "GAP UP" until the next earnings, and I said earningS reports can show that they have done enough and not to late. They didn't get funded with ease and the interest rate of that funding has now doubled. This will not see $2.00 and change for quite some time. They have spun off assets and slowed down their growth initiative. Its going to be interesting to see just where the income "growth" is going to come from. Its a "hold" for now and I won't be adding anymore. They have a ton of trust that needs to be earned back. Its unfortunate that Bierman is still in the picture. He is a lousy CEO and boss.
You got that right!
You can't day trade this POS because you just don't know what the day to day brings. Best move they made was to get voting shares over to funding manager. On the grow side, they hire horticulture guy to run and manage grow in Desert Hot Springs.....he has never grown marijuana. He gets most of his feedback from the kids working there who have been growing at home for years. They fired a production manager (for no reason except he knew too much) who was the only one in the whole facility that was a certified grow master. When he pointed out mold and mites in the weed they were buying, he was told to use it anyways......just cut out the mold. He refused and cited the compliance issues it would arise. The grow in Florida is not big. 20000 square feet of which maybe 5000 square feet is actual grow. Remember you need space for drying, curing, water purification, storage, offices....etc. No, Medmen has only 2 actual grows of which only Reno is producing. Problem is they are way overmatched in the Nevada market. Nevada is very small compared to Florida and California. That lousy investment needs to be spun off.
Nice to see the pumpers out but at some time they got to get real and do some due diligence.
I want some of what you are smoking...lol. No really, The balance sheet is yet to be seen. Problem with these guys is each time they say something its all smoke and mirrors. Nothing comes to fruition, except for hiring management that will not follow Beirmans path down the tube. Proceed with caution. Desert Hot Springs still not producing yet. Just buying and packaging.
The big growers have lost millions due to compliance changes over and over again. Had Medmen been growing then they would be out of business already. Instead they have spent Millions on a facility that still isn't operational. They have had air conditioning problems, generator problems and more important, management problems. they don't have the luxury of selling many products like Walmart, Target etc...they sell weed and weed derived products. They pay a premium for non premium weed and push it off as premium. This is a FACT! It is also not important to the scheme of the overall financial picture. This is a stock that has gone from over $7 bucks a share to now 39 cents. They have lost their borrowing power....period. I would agree with your synopsis if they had the borrowing power of Walmart, Target, Sams etc...THEY DO NOT! So where are the funds going to come from to keep them a float? Not Gothem..and you can't increase your income when you are closing shops.
Walmart, Target, Samsclub….are terrible examples. Walmart owns its real estate. None of these companies have raped the company of serious dollars in the first two years of operation for their own personal gains at stock holder expense. Medmen has a great idea and could have flourished if only they didn't take on so much debt. Their model won't be around if they can't produce product. They can't keep buying the product (100% in California) if they do not have money. So they will sit with the overhead of retail stores and no money to put product into them. They need to grow to reduce the cost and increase the profits. They pay a premium for the weed they buy to resell. $1800 pound! they could have grown the same for 1/4th the cost. With the model they have setup, they have to grow.
What cutting edge technology?
Unfortunate for Medmen, they need cash to make it to "whenever US legalizes the cannabis industry" They have enough for not quite the next two quarters and their burn rate hasn't really slowed down. Time for them to quit talking and produce.....oh ya they haven't done that yet either. They just keep buying other producers weed and selling it. Beirman and company should put the cash they stripped the company of to lace their own pockets, back in. They would if they truly believed the crap the comes out of their mouths with each quarters financials release. They better settle new lawsuits coming their way about compliance issues. You can't fire management for "no" reason and not expect them to spill the beans.
Its not about two 30 year old kids who overspent! Seriously?! They put the money in their own pockets and continue to do so! 180 million in weed sales that they didn't grow and what difference does it make if you sell 180 million but spend 300 million?! They will be out of cash in 2 quarters and still are not producing their own weed. They can't keep going to Gothem for cash which is why all the terms of the credit that was originally given to them has been changed. Financial doesn't lie! They open new stores in Florida and their revenue sinks 5%.MedMen continues to bleed cash. Its total G&A of $49 million was higher than its total revenue by $5 million! The company can't even pay for its SG&A which signals a challenging near-term outlook. Although the company has laid out a five-part plan to reach positive EBITDA by the end of the calendar 2020, including an annual G&A reduction of $32 million, the cost structure remains heavy. Assuming an annual cost reduction of $32 million based on Q1 annualized costs, we are still looking at annual SG&A of $164 million compared to Q1 annualized revenue of $176 million and gross profit of $87 million. This doesn't even take into account interest expense and cost of continued buildouts!
They never really operated a business. What they did do should bring SEC calling at some point and time. CEO has raped the company of money, and continues to by funneling money thru expense. If you can read a financial you should be appalled at the amount of money spent on T&E. I couldn't understand how they would bring in a corporate guy to Desert Hot Springs for a week and put him up in a 5 star hotel. Not really a company worried about expense. Then again you don't have to worry when it isn't your money.
tick tock tick tock....only a matter of time. Hope those idiots are on the hook personally for the money they got from Gothem.
They can't buy anything! This company is basically operating on a shoestring now. I own a ton of it and should have sold a long time ago. They have yet to grow any of their own pot in California. They are buying it from other cultivators and packaging it. They pay a premium not to mention that some of the purchases have had problems. Mold, mites etc..when anyone complains about these problems they get fired. Only a matter of time till they get caught operating way out of compliance. More lawsuits coming!
This stock will never go up until management quits taking ll the cash to line their own pockets. I know I worked there.