I was super excited about Medmen trading publicly in CA and eventually with a U.S. foreign issue OTC ticker. I opened a couple discussion boards on Investors HUB and was truly excited about investing in stock in this company.
I live in the U.S.
And then came the press about the use of the public company initial proceeds and the percentage of the company that individual investors would hold when investing in company shares.
The numbers here are rough and approximate.
Of the $100,000,000 in proceeds, approx half of that went directly into the pockets of the principals.
Roughly 7 percent of the company is owned by investors of company stock.
These numbers are ghastly and I declined to invest in Medmen.
How is the company going to repair its tarnished image with the investment community?"
JohnCM
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