Talked with IR this AM, told them I was not happy with selling assets that were indeed making money, especially when they paid much more than assets were sold for. Answer : Valuations have changed from the big hype days they are getting what its currently worth.
Asked why they would give up profit producing assets. Answer : Seeing reduction in profits as wholesale prices go down and over supply is more than demand. Pure Sunfarms fills a niche.We still have other assets and produce what is needed as needed for current and future products.
I have read about the (second) greenhouse in Richmond is that operational?
Answer: it can be turned on when demand is there but not operational yet. 100 percent owned , they can better streamline production.
When do you anticipate Richmonds second greenhouse opening ?
Answer: Roughly six months.
I asked about their relationship with Medipharm, he acted like he didn't know and that we use Valens. Well original PR states a 3 year contract with MEDIPHARM starting in 2018, June I think. Math tells me we still have 6 months on that contract. Hmmmmmmm
In talking with IR obviously there is much they cannot talk about due to sale assets and whatever is done in the way of upcoming Acquisitions or JV.
That being said they do expect to be debt free and end up with roughly 50 mil in the bank which will put them in a good position to go forward with products and services that have a better profit margin. This alone should effect share price !
This is not word for word but you get the drift. My opinion from the conversation is hard times in wholesale prices and reduced values of everything especially with the virus.
But with that being said they are trimming fat and coming out with new products that have better profits. EXAMPLE nano spray uses less MJ and produces more potent product with more predictable dose outcomes.
I told him I expect good news coming before the end of year, NO COMMENT from IR as expected but you have to give me credit for trying. I have been honest , I stay LONG and hopeful. We all know the risks, What we don't know is What else Emerald will do or how many more new products are coming. Hope this helps GLTA
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