Why a sell off? At the core they closed two underperforming labs and consolidated operations. The cluster cuss of mismanagement and ego driven moves of managerial screwups is baked into the price.
And there was good news in the 8k this morning. Canada listing was derailed because of an auditing issue. Quicken, HA! Morons. Anyways
Q1. “What is the status of the Company’s annual 10K.
A1. The Company is currently working diligently towards completing the 10K for the fiscal year ended September 30, 2018. The delays are directly attributed to the significant number of acquisitions and related audits of which occurred during the fiscal year. The company during this timeframe also completed an accounting system migration from 11 sets of quickbooks to a new accounting system which permits the automated consolidation of all the Company’s subsidiaries both in the United States and Canada.
Q2. “Why did the Company retract the Canadian Stock Exchange listing and will it reapply?”
A2. The Company retracted the application with Ontario Securities Commission (“OSC”), which was filed with the intent of listing on the Canadian Stock Exchange, as a result of an outstanding audit associated with prior acquisitions. The Company has every intent to resubmit a Prospectus to the OSC once our 10K has been filed.
Q3. “What is the Status of the Massachusetts Testing License?
A3. Upon receiving the provisional license form the Massachusetts Cannabis Control Commission (“MCCC”), there were a few required items to be completed prior to receiving the Permanent License. This include the updated accreditation of the equipment in the new facility. We just completed our tenant improvements and are awaiting final occupancy permit. Upon receipt we will complete the equipment validation and will notify the MCCC of our readiness for final inspection.
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