You seem convinced but you fail to focus on the fundemental flaws. No offense but I think the notion that they sold shares to feed their families is absurd. It does tug at the heart strings though. My family doesn't eat millions a year....they must have large families.
Here are the important facts.....read the company header on this Home Page. Heres what DP has to say about IVXX...."We are pleased to expand our cultivation footprint while allowing IVXX to elevate in both quality and consistency. This extension of our cultivation capabilities into the Emerald Triangle, home to some of the world's finest cannabis, will help us to expand both the Company's product line and margins over the coming year."
“OUR GOAL IN DEVELOPING IVXX™ IS TO BRING MUCH-NEEDED QUALITY AND ACCOUNTABILITY TO THE ENTIRE CANNABIS INDUSTRY, WITH THOUGHTFUL BRANDING THAT ALLOWS CONSUMERS TO MAKE EDUCATED AND INFORMED DECISIONS ABOUT THE PRODUCTS THEY PURCHASE.”
-DEREK PETERSON, CEO, TERRA TECH.
Now go to the IVXX website and it says its available at select retailers. I challenge you to find a single retailer that sells the non existent product. Pay attention to the photos of their locations and assets....mostly dilapidated structures and not what you build an empire around. Not to mention they lease from insiders and pay exhorbinant fees such as $360K per yr in "security services" just for the oakland facility alone...Thats $30,000 month in security. I suppose thats so an insider can feed his family as well.
Now lets get down to the stores themselves....they are nothing special as same store sales are flat. They show growth by opening more stores and the pace is painfully slow. Its still not a growth story without same store sales growth.
When you consider the massive insider selling, no growth, no Ivxx product, and the numerous insider transactions coupled with a lot of competition by more experienced companies you have in my opinion a story that DP has told a million times at every earnings call. If you listen to one of his calls the first thing you notice is what a cheerleader he is...telling the same old worn out story and bypassing the actual companies lack of performance. They don't know anything about growing weed like hundreds of other experienced growers in Northern California. I doubt they will be able to make IVXX a brand name other that a product to sell in their own handful of stores. That alone won't make it a household name and thats assuming its any good which is not a given. Theres too much bs with DP and the insiders to trust the company plus the business plan is missing so many pieces like know how for one......Trade it but don't own it unless your prepared to lose all your investment which is how i see this ending when the money dries up.
AI
