Analysis of MSRT
I like your concept. It's similar to Tradiv, Weedmaps, Leafly, and Cannabase. Even Aurora just introduced an app for medical marijuana only.
I'm in a stock that just bought Cannabase, one of your competitors. The best way for me to gauge value is to compare the two of you.
To begin with, Helix TCS (the new owner of Cannabase) has financials that do NOT reflect the sales of Cannabase yet. That will be seen next quarter. However, they are the transport business. This is vertical integration, So Cannabase has what you have, plus transport and security to offer.
1) MSRT is already starting out with 60 million shares fully diluted, plus the 10M new issus with convertibles, putting you at 80 million shares fully diluted. Granted, 10M are out of the money, so I'll go with 70 million to keep it simple.
Helix TCS (HLIX) has you beat at 50 million.
2) HLIX has 83,000 in cash last quarter, you have 53,000.
3) Helix has strong working capital, MSRT has negative working capital, making it insolvent without the dilutive cash infusion coming your way.
4) MSRT has negative shareholders equity, HLIX has a book value of $350,000.
5) MSRT has year-to-date sales (6 months) of $600,000. HLIX $870,000, and Cannabase isn't even reflected in that figure yet.
6) MSRT lost $2.1 million YTD; HLIX lost $500,000 YTD.
With Cannabase's integration, they get to share in HLIX's fixed costs. MSRT has liquidity in its stock as the only advantage, but that's only short sighted. I think given all of these considerations in "perfect market" theory, either you are overvalued or HLIX is undervalued.
