Fascinating situation. Right or wrong, there seems to be a broad expectation that a buyback will occur, which in turn is sustaining buying interest and seems to have created a floor in the .003s. With average/below-average volume the last couple of days, BBRW has been roughly flat or down a tick in the case of yesterday. All in all, just seems to be behaving more like a "normal" stock, whatever that means on the OTC.
The dream scenario for BBRW/shareholders would be to receive state approval for the buyback based on post-Q2 financial performance, execute that in Sept (or Sept-Dec, depending on how you heard that line of the the podcast), and subsequently execute the new issuance. In an ideal world, the 1-A was filed with certain specific new investor(s) already targeted, but that remains to be seen. This path for this scenario has narrowed, both from a difficulty of execution standpoint, as well as from the standpoint of continuing to believe that BBRW mgmt intends to make good on stated goals.
The BGREEN payment is still confusing to me, not in the least because I cannot understand the recording of the full $4M as an expense in Q2. My fear is that the payment via issuance of preferred shares was another "cost" of the merger, and will not result in specific new revenues nor other material value to BBRW. That would (I think, not an accountant) jive with the decision not to amortize it over some longer period.
I continue to think that BBRW needs some significant, substantiated news to kick into sustained copper territory. That said, it's been somewhat surprising to see the support around these levels and if nothing else, will continue to be an interesting ticker to own/watch.
