RE:RE:just to be clearIn fact , I have NOT been WAY off base on my predictions. Look at the stock price , it reflects whats happening now with Sunniva ,and what I have predicted would happen for last six months.
My guess on the loss for the first quarter was 7 million. The actual loss was 4.9 million after excluding an income adjustment of 1,198,000 dollars for reversing deferred taxes which Sunniva used to reduce its loss. So yes was 2 million too high. I was wrong
However, where else have I been wrong?
I predicted back in December that Sunniva was running out of cash and would need more money via private placements in the first part of 2019, and it happened. I was ridiculed for that prediction in December, as all the lovers of this stock said that Sunniva had plenty of funds to last through 2019.
In December , and again in the Spring I predicted the buildings completion and planting would be be delayed, and it has. I am now predicting it will be further delayed, as I think it might be over 110 degrees inside the building and not safe for workers to be inside. I also predict that the building cant be finished till Sunniva raises another 10.5 million to buy equipment that is needed
to finish the building per the MD&A. Who knows when that will happen, but not over night.
I also predicted this spring, that Sunniva, despite all the funds raised from private placements this year would be soon be out of cash, and yes the last cash balance disclosed was less than 2 million. It's now on fumes, with over 12 million in payables as of March 31.
Last, if the sale of the land today is such a great deal for Sunniva ,why is the stock not up at least 20% ? Perhaps someone has looked at the fine print of the deal. I just pointed out that the deal was subject to the purchaser showing receipt of sufficient financing and the last financials of the purchaser show negative working capital and its listed on the pink sheets.
I am getting sucked into replying. So will stop . I just ask that investors read the financials and the MD&A rather than pictures of a building you don't own to make your investment decisions.
. The rent on that building is calculated at a cost to Sunniva of 17.2% of the amount the owners paid to build it. A hell of a return if you ask me, and a hell of a cost to Sunniva
I will try to not post again until early July, when the land sale will either close or not close. We will see .