RE:RE:RE:RE:RE:Don't get me wrongI think this is the fhird time the meeting has been moved out, so I wonder what is going on. Could it be that a creditor or two is proving difficult to negotiate with regarding the repayment of the $25 million in debentures? I'm assuming there is some disagreement or disquiet within the parties, otherwise the meeting would have been done and dusted by now. Someone isn't happy.
At this stage, selling the company may be a good option, if they can get a buyer for a premium.
Gummies and chocollate cookies are not unique anymore, the small cap companies making moves are those who have pursued vertical integration, have bought retail outlets, have cultivation facilities, have laboratories etc, while these guys seem to have a few people in a small shed packing gummies into tins. I'm not sure what the directors have been doing during 2020, but things seem to have stagnated.
They may get the debenture repayments extended through to 2023, but it will probably be at a premium price or increased interestt rate, and the real pressure will then be on them to make a profit and start repaying the debt. How are they going to get out of this hole by just packing gummies into tins, the industry has moved on and expects more. It's a quandry for them at the moment.