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Re: mcnierney1 post# 513

Saturday, 05/06/2023 8:44:40 AM

Saturday, May 06, 2023 8:44:40 AM

Post# of 615
I see nothing to celebrate in the numbers. The more they make, the more they lose.

Made $3.3M more in 2022 than in 2021, but lost $3.6M more.

The comparative numbers are horse shit! Smoke & mirrors!

Akanda wasn't formed until Nov. 2021, and had no source of revenue that year afaik.

If they'd earned $1 in '21 and $1000 in '22, they would boast about having increased revenue by 99,900%. It would seem impressive to anyone not paying attention or doing DD.

While it may technically be accurate, it would be a blatant attempt to deceive investors by pulling wool over their eyes.

None of the numbers should have been compared to 2021 because the CONpany didn't really exist then - the CON was just beginning.

If I tell you my new car goes 100 mph faster compared to the car I had in 2021, you'd probably be impressed. What I didn't tell you though, was the one I had in '21 had a blown engine and never drove. So the truth is, my new car goes 100 mph, period. That's not impressive - almost any car can do that. But I'll let you think my new car is extremely fast.

How did they manage to lose $8.1M in under two months in '21? Was it part of spinoff-related costs?

As part of the closing of the Transaction, Akanda issued a secured convertible debenture (the "Debenture") to Halo in the principal amount of US$6.6 million in exchange for setting off all outstanding indebtedness owed by Bophelo and Canmart to Halo.

FY 2022 Financial Highlights

Gross profit was $3.3 million compared to a gross loss of $1,591 in 2021.

Operating loss was $20.2 million compared to $2.6 million in 2021.

Net loss was $11.7 million compared to a loss of $8.1 million in 2021.

Cash and cash equivalents at the end of the year were $255,803, compared to $3.5 million in the prior year.

Yeah, uhh......where'd that $3,244,197 in cash go? Can I get an itemized receipt for that?

Whose pocket is it in?

I suppose when your core business is growing cannabis and your premier grow site is mired in liquidation court, it can be extremely challenging to produce your ONE AND ONLY PRODUCT, and that could severely impact revenue.

If only Akanda had a trustworthy and competent management team instead of crooked Fuc@#$%! like Halo.


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