Planet 13 Holdings Inc (PLNH)

[Bed Bath & Beyonce]

Tell me when during the call they say everything is “fully funded” and I’ll listen to it. Neither the PR or the SEDAR MD&A say everything is fully funded.

The company says it has $20M cash on hand as of the end of Q2 2019 (that’s three months ago). $7.1M in operating expenses in Q2 2019 alone and debt of $22M.

That’s not enough to fund current operations, finish the Phase II buildout AND build Santa Ana.

The monthly sales numbers were starting to plateau entering Q3 (Vegas tourist off-season). Sales will likely be relatively flat from Q2 to Q3.

They’re going to have to do a cash raise in order to fully build everything out.