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Friday, 08/12/2022 11:34:36 AM

Friday, August 12, 2022 11:34:36 AM

Post# of 278
Q2 numbers are out and after reading through the sec filings and listening to the cc, I dumped my commons for a small loss and will just keep my significantly underwater warrants in the back drawer as a just in case this team finally start to earn real cannabis revenue one day and meaningfully decreases the enormous quarterly cash burn rate. Plus SAFE+ passage could light a speculative fire in the sector, so at least I’ll have the warrants to capitalize if that occurs.

It’s clear from the Q2 report that this company is learning hard lessons on the backs of investors and an inordinate amount of blown capital, (well over $60M just since despac)…with these ongoing inventory provisions, write offs, reorgs, optimization plans, right-sizing, and pivots, etc, etc. oh and let’s not forget how they’ve just recently brought Intercure in and magically the entire Columbian operation is sans harvest for the quarter! Reading between the lines, I think Intercure toured their facility in March, reviewed output, potency and genetics and took the CLVR team to school, said let’s pull out most of the plants and do it right. Management knew about the Columbian flower export decree last summer and they pivot in Q2 22? It just doesn’t add up and investors are not being given all the facts. Again.

Share structure continues to grow. The ATM offering was used post Q2 for another 2.8M shares sold at average price of $1.07. And they still have $23M left on the shelf offering. The shorts and algo gaming institutions clearly were “informed” by cannacord of the latest dilution because short interest almost doubled from July 15 to 30th after not really changing much for several months prior to this. The games these sharks play…and completely out in the open (flashing that big cocky smile to the toothless SEC).

That’s my rather cynical take after watching this one very closely for over 18 months and feeling quite the fool for buying Kyles original sales pitch.

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