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Wednesday, December 05, 2018 2:22:23 PM
And this illustrates one of my issues with many this year accumulating and touting larger holdings.
17 out of 69 "currently operational".
30 Florida, but not 1 "currently operational".
Furthermore, I am intimately familiar with quite a few of those sites in various states, and many are under performing, with quite unfavorable leases, and some of the cultivation sites lacking quite a bit.
Several (quite a few) companies seeking to establish expansive holdings, yet many not taking into consideration the cost to fully develop the same. (Develop, carry to break even, etc)
Of course, that's on top of quite high valuations, such as in the case of PCann ($26MM per license/non operational/under performing location), with other similar actions throughout the year up to $58MM per for the very same.
Lot of time, work, and money before those cumulative holdings even approach break even. (At which point they will be absolutely immense/performing....but that is far into the future....)
Similarly, there is a Florida company currently claiming targets of $200MM+ for 2019, but as above, as well as other companies, there are literally hundreds (combined) of Florida locations that have yet to be developed (Each licensee 30 locations, (14?) so, one can do the math, and as soon as next trigger met, that becomes 35 locations each licensee...
It's too personal to be business.
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