Interesting article from the Philadelphia Inquirer .
Raises some interesting questions.
See below, with my simple questions that follow.
"FSD Pharma is getting out of marijuana.
The Philadelphia-based biopharmaceutical company once had designs on becoming one of the planet’s biggest cannabis producers. Early last year, it announced it was refurbishing a 600,000-square-foot warehouse in Ontario, Canada, to become the largest indoor cannabis cultivation facility in the world. It intended to serve not only the nascent Canadian market but Europe, as well.
The company’s cannabis aspirations were neatly summed up in its stock ticker symbol: HUGE....
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.”...
As CEO, you should always recognize your job is to increase shareholder value,” Bokhari said. “And the best bang for your money right now is in R&D.”
https://www.inquirer.com/business/fsd-pharma-bokhari-cannabis-medical-marijuana-philadelphia-canada-ontario-20200730.html
My simple questions from a simple guy...
Ok Dr R and crew .
Riddle me this:
If your job is to increase shareholder value, can you explain this statement on your recent financials?
Accumulated deficit of 96,933,870
Comprehensive loss for the period 15,690,266
“Shareholder’s equity decreased by $2,401,970 or 5% compared to December 31, 2019 primarily due to net loss of $18,415,865 offset by the issuance of shares, share-based payments and gain on translation of foreign operations, for the six months ended June 30, 2020.”
Just asking
Do your own DD and believe not what you read here, there, or see on videos
Trust in your own research