RE:RE:Time to buy kids ,You know the Bansters areI think if they can take over the board, and sell the Canadian assets to Aurora or someone else for a decent price, and develop the US operations with a new executive team that knows what they're doing, this could turn into something positive. But it could take a while.
It's hard to tell at this point if it's too late to get out of the hole, and if there will be some messy legal/criminal issues to untangle as well.
We also don't know if the license could be reinstated. The fact that HC hasn't just revoked it already means they might still be willing to hear them out. Ascent is badly setback by all of this, but it's not impossible for them to get back in the game if they get the license back. Holding on to Canadian operations would be a good thing, even if it will take a lot of time and money to get the train moving again. I think there might be enough interested parties willing to finance Ascent getting back on its feet for a few months.
I also think the first mistake was having the executives resign. Doing that right out of the gate meant they were admitting some kind of guilt. I don't know what cards Health Canada is holding, other than "unauthorized activites", but Ascent probably would have had a better chance of fighting it, with good lawyers, if they didn't resign as though they were guilty of something. Either way, the executives have clearly mishandle a number of situations, and probably need to step down either way and appoint a seasoned C suite, but it shouldn't have been done in this way.