Post by
drbob512 on Aug 26, 2020 4:45pm
Vireo Conf Call from
Seeking Alpha was encouraging. PA sale brought enough cash so now have $21M & burn rate reduced $150k/mo. to $750/mo. & they are spending $8-$9M for development of other properties, which will increase revenues by 4th qtr & 1st qtr 2021. They are streamlining costs and focused on existing projects & properties in order to become cash flow positive by 2021; no longer a solvency risk it appears. VREOF made good decisions & good progress in past 1-2 qtrs, by retrenching & bolstering financial status. Am more positive than have been for a long time cuz risk is reduced & light at end of tunnel. Analysts seemed encouraged too, on the call transcripts during Q&A section. Will take patience for stock to get to $1 and $1 1/2 per share (VREOF). All the attention is for Trulieve, Green Thumb, Curaleaf & Cresco Labs, & deservedly so. Mkt cap for Vireo is $60M ?