Planet 13 Holdings Inc (PLNH)

[Bed Bath & Beyonce]

Company has $18M in cash, $26M in debt, $9M in quarterly operational costs (prior to restaurant opening, so it's likely more now) and operated at a net loss of $1.72M last quarter.

Those aren't horrible numbers, but it raises the question: How is the company going to fund the license purchase of $6M and the Santa Ana buildout? The company has said it expects to get the license by early Q1 2020.

Planet 13 will pay Newtonian $6.0 million in cash and issue 2,039,808 Class A Restricted Shares (valued at $4.0 million at the time of entering into the LOI) upon receiving final state and local regulatory approvals to transfer the operating entity after Newtonian opens its dispensary. The work to enable the license transfer has begun and the Company has initiated the engineering and design work on the planned 40,000 square foot cannabis facility that it intends to build out after closing on the acquisition, currently expected to occur in Q4 2019 or early Q1 2020.

Cash raise coming.