Replies to post #21239 on PBS Holding Inc (PBHG)

[Kool Aid Man]

That's the insanity...5,500 licenses in a state with under 4 million people!!! That equates to one grower for every 727 people in the state --including the VERY young and those in this politically red, Bible Belt state who would never dream of touching anything with MJ in it. Only a fraction of the population typically uses recreational MJ, MMJ or CBD. According to this report

"By November of this year, 5% of Oklahomans had medical cannabis cards. In the same period, state officials approved more than 1,400 dispensaries and 3,000 growers....

Consultant Sees Oversaturated Market Ahead

While most painted a glowing picture, not everyone took the same position. Josiah Chissoe, a consultant with seven years of experience in the space, grew up in Oklahoma.

The market will slowly dissolve beginning in the summer of 2020, in his view, due to a saturated market with a sizable producer-to-patient ratio. “The licensing structure is basically a pseudo-rec program because there are no qualifying conditions," Chissoe said. "The OMMA is handing out producer licenses to nearly anyone that applies."
https://www.benzinga.com/markets/cannabis/19/12/15028585/a-snapshot-of-americas-medical-marijuana-markets-oklahoma

With more states legalizing, gross revenues are expected to rise. However, even the biggest, most experienced growers (which Eddie is most assuredly NOT) are struggling to eek out profits due to the cut-throat competition from both legal and illegal . The entire industry is in free fall-->
https://www.ccn.com/canopy-growth-delay-raises-brutal-question-will-this-pot-stock-ever-turn-a-profit/

86 licenses in Carter county alone and there are only 48,000 people there.