My understanding of flower one is this
Once a flower grower...then they decided to get into cannabis...cause cannabis should be more lucrative than mums. Agreed.
You need the all important....cultivation and production licenses. To accomplish that...they purchased a functioning 25,000 sf cultivation and production facility...also without a retail license....for $27 million.
They are converting the greenhouse for cannabis cultivation. Nothing was said about whether they had 450,000 sf of cultivation and production licenses. If they are applying...good luck. They also applied for a retail license....I don't see where they were awarded one either.
I don't know if they have the money for converting that much greenhouse space...if they did have the licenses.
I'm not saying LIHT is worth more or less than fone....as I haven't been following that closely. I read the articles when they came out....but was not moved by them.
For comparison...if fone is producing 25,000 sf of mediocre bud...and selling for $2.00 a share....what should LIHT be selling at for 10,000 sf of top shelf cannabis.?
LIHT has 300,000 sf of licenses in place. Figure up the value of top shelf cannabis production at that capacity.
And remember....Rivera didn't get fone....she got LIHT.
GLTA
GET LIHT...RIVERA DID
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