Monday, May 04, 2020 5:07:56 PM
ceo.ca, forum emailed IR few days back about the Outstanding Share Count wether RS or potential buyback with positive cash flow emerges next quarter
here is the response.
Thank you for your note. Companies with very
little cash do not do share buybacks. There are no plans for a share roll back. Based on my experience, roll backs never work until companies have many periods of sustained growth and until there is a material event that gives a reason to do so. A share consolidation is only a temporary fix. When you add in the terrible market for Cannabis specifically and the overall stock market in general, any moves like this will just result in the stock coming backwards in short order.
ironically, the company is better today than it was Dec. 2018 by a long shot. The stock price
then was near $0.30. If you can tell me what causes that, I am all ears.
What needs to happen is for people, investor groups etc. to keep noticing all the good things we are doing and then spread the gospel into groups like yours. I presume you saw our press release last week. The stock is stuck where it is. We will have a new corporate deck up soon.
Take a look at all the things we are doing in Portland. Until someone is willing to pay $0.03, then $0.04, then $0.05 etc. nothing will change.
We will trumpet getting to cashflow positive. Till then... Jeff and the team are doing great things. They are executing. They are growing.
That's all we can do.
I own a large amount of stock at $0.45 so I get it. A large amount of debt converted to shares
at $0.06 to help the company and equity holders. Jeff and I purchased 5% of the company at $0.06 when the stock was at $0.04. We did that to be good partners to the
debt holders that converted. We are only issuing options to new management and
employees at $0.06. So it's time investors did their part as the current management is doing
theirs.
Thank you for your support.
John Varghese I Executive Chairman I Golden
Leaf Holdings
67 Yonge Street, Suite 1601, Toronto, ON, M5E
IJ8
c: 416:706-231210ÿ4 16:.865:1611
E: john.varghese@goldenleafholdings.com I
www.goldenleafholdings.com
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