A bit more color if you will, and only an opinion. It’s a consolidation issue. Hexo has a contract with Valens. The contract in dispute concerns the carry over from Newstrike purchase. Not saying the don’t have to honor it, just saying. Hexo is having product being returned to them / stuff that didn’t sell after 3mo comes back. This is happening all over.
Hexo has subtracted nearly $9 million from their gross revenue due to product returns and provisions for future product returns.
Overcapacity.
So, companies, not just Hexo are having product returned, they can’t sell enough of the product they get from Valens side and then Medif keeps sending the {Newstrike contract stuff as well}
So Hexo no doubt tries to renegotiate, Medif doesn’t want to cut its own throat so here we are.
The bigger picture is the stuff isn’t selling.
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