RE:RE:RE:NCIB I don't trust them to do their fiduciary duty further than I can throw them. I am beginning to think there is some serious financial trouble here that is not being disclosed.
I certainly understand the feeling, but the boys have lots of skin in the game. It's nearly impossible to tell now with all the nonsense that's gone on with trying to recover non-performing shares from members of the original SPAC group, but someone who did the math a year or so ago said the Wachsbergs have about 30M shares or 40% of the company but their investment is around $40M, so they are unlikely to want to sell at a loss. They also have a buyout clause that makes it prohibitvely expensive for someone to take over. For a while Anson held around 15% of the shares as well, and so formed a majority bloc with the Wachsbergs, but I don't know if that's still true. It would certainly explain their dismal investor relations when a 55% majority can be achieved with a single phone call.
True, the stock is not cheap on a P/S or P/B basis. Rumours included CBD oil production and a special divvy if they're not going to buy anything, but that would indicate a major loss of confidence in the founders so I don't see that happening. That would also hurt them, the plant cost around $40M to build but would only fetch half that on open markets.
No, I think this is a long slow turnaround, unless they do something sensational with their war chest.