Gold Flora Corp (GRAM)

[kahlua]

In one quarter the company went from $337.9M pro forma cash to 281M, a quarterly burn of $56.9M. After the $50M placement into GH they will have 231M and they still have big acquisition and expansion plans this year despite their chief M&A officer already leaving the company.

Even being generous and using adjusted sales of $46M, the current revenue run rate is actually lower than the 189M 2020 revenue number. The company withdrew their previously presented revenue guidance (a common bait and switch tactic currently being used by many spacs). I’ll have a listen to the cc but this company so far is living down to expectations. I had originally bought some warrants a couple months ago but sold them for flat so I’m just a curious onlooker for now. At a share price of 6.30 even with their fast decreasing cash balance the EV is near 400M yielding a reasonable EV revenue ratio. Worth following to see if they can pull this off. Last I checked MSOS had 5M shares and frankly that just does not speak highly of that portfolio manager. Anyone looking at the financials of Caliva and LCV would have known 2021 would be extraordinarily challenging. All imo