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Saturday, April 06, 2019 9:32:47 PM
For example take Ontario grower Flowr Corporation. They just reported quarterly net revenue of C$2.87M with 86.7M shares outstanding. Their Share price is currently C$6.40.
Delta 9 should double, or more, that revenue number, based on their guidance, but shares are selling for 1/4 the price C$1.68. It would be one thing if Delta 9 had 4 times the shares outstanding, but they are almost exactly the same for Delta 9 at 86.4M. Actually less OS.
So in my thinking we hold a company that produces more revenue, and has less shares outstanding, for 1/4 the cost of FLWR corp stock.
I like FLWR and think their share price reflects their potential. They are benefiting from being in the hub of a cannabis hotspot based in Ontario.
I like Delta 9 more because they are growing revenues faster, with lower costs, and less square footage, using proprietary grow pod
tech. Believe they are getting penalized for not growing in the large BC or Ontario investor markets.
This is just my long winded way of saying I think Delta 9 is way undervalued, due to lack of exposure to investors in bigger markets. I think that will change when they report numbers that possibly beat Cronos, The Organic Green Dutchman, Flwr Corp, plus others at higher SP's.
I appreciate everyone's feedback and opinions.
Always IMHO GLTA
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