Zenabis Global Inc. (fka ZBISF)

[BlueGreenPower]

Thank the heavens that Zenabis isn't one of those cannabis companies sitting around with half empty greenhouses waiting for demand to increase enough to finish them. Zenabis has close to 100,000 KG of licensed capacity, which is plenty for the current market demands. As demand increases they can retrofit Langley in phases with cash flow.

In the meantime the non cannabis square footage is still producing revenue growing flowers and vegetables. So many companies bought huge propagation greenhouse businesses thinking they would need all that space for cannabis, but surprisingly didn't continue the legacy business revenues until they did. Now many of these greenhouses are back on the market, but this time it's a buyers market.

Zenabis has made its mistakes, and even had its own grand plan to rapidly retrofit Langley, until oversupply became an issue. Fortunately Zenabis got in later in the game when it was becoming clear that you don't need a 500,000 KG facility now or anytime in the near future.

Unfortunately for the early movers they loaded on the debt and dilution during the capacity craze. Now the whole market is paying for their mistaken assumptions.

Hopefully this is the beginning of a new normal with rational targets and normal market activity, Back to fundamentals would be nice :)