I hear you there. Yes, a new family does take priority. Congratulations on your new grandson.
Anyway, I think you are severely underestimating Jimmy. Jimmy has over 40 years experience just at Sugarmade. Yes, Sugarmade has been around for 40 years. So, it's no fly by night operation. There are plenty of companies that have come and gone in that 40 year time period. So, to keep the doors open for that long is quite a feat for a small operation. So, that is why I never had a real concern about the cash on hand. Sugarmade has found a way to keep the doors open for over 40 years and I knew they would find a way through this first acquisition. That's all they need is to complete one acquisition. Once it is complete Sugarmade will have plenty of breathing room with $37 million in revenue coming in. The other acquisitions will be a piece of cake after the first one. If Jimmy, as you say, has no intellectual capacity then how could Sugarmade survive while other companies have gone under in that 40 year time period? So, it is rather obvious that he has intellectual capacity to do the job. I think you are confusing his intellect with his attention. In other words, he can not pay attention to everything such as PR's, Investors relations, etc., if he is doing everything in the beginning. He had to prioritize what the most important things to do for the acquisitions.
Also, I think you have overlooked the fact that Sugarmade is not one of these new marijuana/hemp companies. Some of those companies may not survive 5 years. Sugarmade and Jimmy have stood the test of time for 40 years. All, Sugarmade is trying to do is make a transition from mainly a restaurant supplier to also being a hydroponics supplier. They are on the verge of succeeding with that and becoming one of the largest hydroponics suppliers in the US. That is a tremendous accomplishment. A CEO with limited intellectual capacity as you say could not accomplish that.
I think you also have overlooked the fact that a small company like Sugarmade had a small staff. Whenever a company is trying to acquire another company, it is no small task. So, Jimmy and his staff had a challenge to find acquisition targets, have acquisition talks with the targets, sign the proper agreement documents, and then close them out. That is quite an accomplishment for a few people. There is no acquisition that is going to happen quick like you seem to think. Just give them the stock and it's all done is not the formula. They have to audit the accounting for the company they are going to acquire. They have to integrate the new company with their companies. They need to examine to see if there are any synergies between the companies where they can save money. There are many other factors that they have to consider, not to mention all of the regulatory considerations. It takes about 18 months at the most to close an acquisition on average. This month is the 18th month from when they signed their intent to purchase this first acquisition. Everything is right on time.
Also, there are no other cards to play. They signed a promissory note to acquire BZRTH, which I mentioned in a previous post, several months ago would be one of their option to get this deal done. This is a done deal. We are about to sail. So get ready!
AI
