Waiting for news While you are waiting, for news that the phase 2 trial application is submitted, hopefully accepted, and if we are really lucky they actually start it before they tell us that COVID research is a race to the bottom as there are thousands of trials ongoing, and multiple vaccine candidates in trials.....
Lets dream and why not watch a few reruns of videos for nostalgic and motivational purposes to reinforce and embolden your feelings.
Does the past help us understand and believe what is possible with this skilled and motivated team?
Go HUGE!
Let’s rewind to less than a year ago......
“FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) CEO Dr. Raza Bokhari tells Proactive the cannabis company expects to report meaningful medical cannabis sales revenue in 3Q.
Dr. Bokhari says last week, the company reported modest 2Q earnings generated mostly from rental leases. Now, Dr. Bokhari says, because the company has secured a license to sell medicinal cannabis, revenues from this will be realized in its fiscal third quarter”
https://ca.proactiveinvestors.com/companies/news/901965/fsd-pharma-expects-to-report-meaningful-medical-cannabis-sales-revenue-in-3q-901965.html
Yet we now read :
Bokhari said the company was sitting on $2 million worth of cannabis that it couldn’t sell. “We were just not able to find a buyer.”...
https://www.inquirer.com/business/fsd-pharma-bokhari-cannabis-medical-marijuana-philadelphia-canada-ontario-20200730.html
And the licence that was granted after tremendous effort and millions in cost is being surrendered and has no value?
Only 1 year ago we heard, through a promotional post paid for by FSD shareholders that:
“Dr. Bokhari continued, "We would not have realized this coveted milestone without the vision and missionary commitment of our founders Zeeshan Saeed and Anthony Durkacz, who right from the outset through sheer grit, hard work and unwavering conviction in the promise of the medicinal cannabis ecosystem, provided their tireless support to me as board members and trusted colleagues and others before me to make this day possible. I am thankful for their support and the vote of confidence of the entire FSD Pharma Board of Directors, as we begin writing the next chapters of the FSD Pharma story."
https://www.newswire.ca/news-releases/fsd-pharma-receives-full-sale-for-medical-purposes-cannabis-license-from-health-canada-806456438.html
I am not sure that real missionaries would dig the comparison.
Anyway, the promotional article said, if I understand it correctly that the building and licence had enhanced shareholder value:
FSD Pharma” or the “Company”) (CSE:HUGE) (OTC:FSDDF) (FRA:0K9) announced today that the Company’s facility and land located at 520 William Street in Cobourg, Ontario has a Fair Market Value of $105,000,000 according to a recent Comprehensive Property Value Assessment by a commercial real estate assessment specialist issued on November 20, 2018.
Due to the nature of the property, the current value assessment was conducted using the Cost Approach and incorporated property improvements of over $10,000,000 by the Company since acquisition, ongoing Joint Venture Capital Improvements by Auxly Cannabis Group Inc. (TSXV:XLY) of over $50,000,000 and Government-Issued Licenses for the production and sale of cannabis attached to the footprint of the property. Also considered in the assessment were unique features of the site, including its classification as a special use/purpose government food-grade facility with train access directly on the property, an on-site power generating station, and substantial ongoing capital renovations under Health Canada Guidelines and Specifications.
In the opinion of the commercial real estate assessment specialist, the property as a whole at the time of completion and operation of approximately 3,000,000 square feet would have an overall property value of an estimated $420,000,000 (at an average cost of 250 dollars per square foot to build out). At full capacity, the facility is expected to produce 400 million grams of dried cannabis flower per year.
https://mjobserver.com/business/real-estate/fsd-pharma-facility-valued-at-105000000-with-3000000-ft-expansion-assessed-at-420000000/
Hey at least there is a symmetry in all of this -the 105 million was reached , and exceeded as noted on the recent financials- 112 million and change!
Unfortunately it was upside down-
Accumulated deficit of 96,933,870
Comprehensive loss for the period 15,690,266
Www.sedar.com
Awww what’s a hundred million between friends-pass the socks and ring the bell.
When is the next pub night?
Wooohooo!
As always, Do your own DD and believe not what you read here, there, or see on videos.
Yeah, and consult a qualified financial professional before making decisions to buy or sell