Share Buy Back...
Honestly...like an old saying..."The road to HE#% is Paved with Good Intentions".
I believe that the old management wanted so very badly to prove their worth and direct this company into what they had invisioned, but found it too difficult and decided to bail out...leaving us shareholders wondering WTF??? I am sure that Manny wanted to make himself look like a hero and build this company up from scratch and then do a buy back and look like he is a superman...maybe even get hired by some other company to do even greater things...along with a very hefty salary...again..."HIS INTENTIONS".
However, it doesn't look like any of it came to fruition. I am sure that Peachtree Capital is not at liberty to discuss any of it with us. Sure, he may have had a deal in place with them to acquire funds to buy back shares, but looks like that deal was passed up and never signed. It stated "Started the Process"..."Currently set up as a Loan"..."Looking at other options"...Nothing difinitive.
So, he fluffed the question that was asked, and said..."We have a deal in place"...Not a signed deal, no published letter of intent, no action statement what so ever...just a plan.
Just like the deal with Kush Creams...they made contact, pitched their ideas, and Kush loved it...the problem...Financing? Who is going to pay the bill? Kush has to put in a lot of work to make this happen, and it is their name that is on the line with a Marijuana product. They have to produce it, bottle it, market it, and sell it, because MJ products are not legal in all states...the primary audience will be Washington State and Colorado....because this is where it is recreationally legal. This fall, we could add Oregon, California, and ALaska too...which would be great for Kush Creams since they can easily transport into Oregon and California...But the deal was never completed. Hence Matt stepping in and saying that more financing is needed...
I think when Manny and Chris couldn't find a way to make this work, they sold off their ideas to Matt who also thinks he can turn a start up into Gold...and he very well may. Especially with the hiring of Mark and the new designing and deals that he is working on. Lets just hope he continues to deliver..."Under Promise and Over Deliver".....
In My Own Personal Opinion Of Course!
Long ANAS!
