I just became aware of PUF through Joe Natural, who I like and respect. In doing some preliminary dd, I'm stuck as I cannot find any financials on this company, not on their website, not on SEDAR (other than a CFO assertion that says all's fine... but no numbers), not anywhere.
Checking on Derek Ivany, I find a guy who's been quite opportunistic... jumped around in the oil and gas sector, uranium, copper, gold, silver, diamonds, potash, coffe, bamboo, marketing... and a bunch of companies that looked like they failed or disappeared, Ivany Mining, Ivany Potash and on and on...
Nothing wrong per se with being opportunistic, ie. jumping on the cannabis bandwagon but don't know how good this guy really is as a manager or business developer...
And I can find nothing on Delta Organic Cannabis, other than the name of its president... I understand it's a private company... but there's no website ... Joe N calls them "astute and seasoned cannabis institutional investor" and Puf states "backed by pre-eminent leaders in Canadian cannabis enterprise"- yet I can find no other deals that they've put together or been involved with..
Also, can find no timeline for the build out of the huge greenhouse, completion, first production, no indication of anticipated capacity...
All that said, there's no question that a big chunk of money has entered here, $12.5 million with more to come...
Some think the sweet spot for profitability is not in growing but rather in branding, but even if there is a coming glut in production (lots of large projects will be coming on line throughout 2019 and 2020), with cannabis wholesale prices falling, still seems that Puf at its recent or current market valuation is cheap, assuming they will fully execute as envisioned.
Just wish there was more solid financial info and guidance...
