Hi Irish, pleasure my friend.
Im simply taking the valuation metrics and indicators that the sector analytically are valuing companies on. People can believe it or not, but the most profitable aren't the small SSO's (single state operators). It is the MSO's. The thing that concerns me, is that any value given to land - which has and will continue to decline will get no value because they have no licenses attached to them (yet) and, for them to be of value, they would need to raise tens of millions of dollars (so a major dilution event which will decrease the SP anyway). And if they do go that route, based on how badly they messed up activating their current sites, thats years away to bring value if anything at all. So lets just take the value of the building which is at today $8M USD (max).
Like I have always said, I take an industry and analytical point of view. Not emotion. The emotion rests with the investment which is a LOT and I know this isn't coming back. But i do have a strike price and I believe this stock can get to 20-25c again if execution strategies are repaired and not impaired like their recent cancelled acquisition from 2019.
$1M or even $2M-$3M a month profit is actually nothing in the scheme of things. I know of 5++ private entities in California currently doing $6-$10M plus plus profit per month. And these are bigger and stronger players in the production of high and medium quality goods in the space. I actually went and visited a couple before I went back west and they were phenomenal facilities and operations. And none had their eyes on a public strategy but have been courted by many IB's and other MSO's to roll up.
Anyway, I hope this helps - just some notes from things I have been able to sniff out about the landscape.
GL Irish all the best
