Replies to post #44987 on Sunset Island Group Inc (SIGO)

[penknee]

Selling weed is an all cash business for most companies in the space, even the legal ones. The banking regs make it too risky to put much in the bank, and most dispensaries are all cash, occasionally they’ll take credit cards but it’s pretty rare in my experience. It’s no excuse for this company though, it’s not like it’s that hard to count money in front of the auditor, and we know they have some money in the bank from Fife.

[victorcollins]

I’m not defending them and I’m not disagreeing with you. I’m just saying if any company in this space has extra shenanigans to get in order to have their finances audited, it’s this one.

I sold my shares because it’s not worth the risk to hold. If and when I get alerts they’ve gotten current and share a plan to grow their operations, I’ll take a look at buying in.