BootyJuice wrote: Richard invested nearly 1 million dollars of his own $$$ 40%-50% higher than today's current sp, he's participated in multiple PP's.
Considering Tinley's purchased 100% of the licenses and outstanding shares of Lakewood Libations Richard will ensure Tinley's credibility for a buyout to see his $$ back tenfold. Oh wait, let me guess, Richard has a bank account overseas with $$$ from Cann to allow for a hostile takeover of TNY, bahahaha.. Richard will get sued into the Stone Age if he tried to ruin the business transaction with Lakewood considering he's in control of western USA for TNY & oversees all operations of Lakewood, there's 0 chance he wins litigation in the court of law with such evidence in disclosure....
Tinley realized how fragmented the cannabis market is in California where 70% of California's counties still don't have a legal cannabis dispensary, and 80% of all-cash cannabis revenues are generated in 20% of the dispensaries, instead of focusing on mom & pop retailers they've chosen to focus on HBOR, P13, and other larger retailers with multiple dispensaries & larger purchase orders. Has there been any restocking of Tinley products at P13 and how are they selling.
Richard leaving as soon as the company becomes profitable is delusional, that's something a meth head who ran out of meth would say after he smoked crack cooked with the covid-19 vaccine. HaHa!
Shutting down phase two equipment in anticipation of licensing of the LBF saved money & it seemed like one of the best options at the time, hindsight is always 20/20 for armchair CEO's like yourself.
Tinley doesn't need 40+ NDA's to display a successful business model, even if 1-5 co-packers sell between 10M-50M annually Tinley's collecting $0.55c to $1.20 per unit per co-packer, not to mention their own cannabis branded products in two countries and non-alcoholic version in two states of America & two provinces of Canada. I find this hilarious cause don't sell any cannabis branded products in two countries & non-alcoholic in one or two mom and pop stores in Ontario. Don't consider that a big accomplishment.
The bottling line "had" 12M bottling capacity per year. So how are the products selling at P13
The canning line and mini line "had" comparable production capabilities, not to mention cans & minis run much faster & can double production capacity if needed to be running 24/7.
All lines are being expanded with the addition of new beverage production capabilities meaning the company foresees demand exceeding a bare minimum of 12 million annually per bottling line, canning line, mini line, etc. Forward-looking demand in dollar terms is currently greater than Tinley's current market cap, nom nom nom!!! My bid at 23c is getting filed, yowza! You getting ready for the next private placement that will be needed to pay for the new line expansion and wages, never mind the consulting fees.
Lakewood Libations is a holding company Tinley owns 100% of the shares outstanding, Click Here!!! On or around December 19, 2018, Richard Gillis, an officer of the Company, formed Lakewood Libations, Inc., a California corporation (“Lakewood”) to conduct commercial cannabis manufacturing and distribution operations at the Long Beach facility. At this time, Lakewood has acquired its local and state commercial cannabis licenses for manufacturing and is in the process of acquiring its local distribution license from the City of Long Beach.
The Company has executed agreements to purchase one hundred percent (100%) of the shares of Lakewood from Richard Gillis for a nominal fee with the closing of such transaction to take place on the date and time of the Company’s choosing (“Acquisition Transaction”) which timing will be based on the receipt of regulatory approval for the change in control. As part of the Acquisition Transaction, Richard Gillis has agreed to detailed “use of proceeds” restrictions that include but are not limited to the requirement that the directors and officers of Lakewood only utilize proceeds from Lakewood’s operations to fund ongoing operations and not issue any dividends or otherwise expend profits. In connection with the foregoing, Tinley has certain audit rights to ensure Richard Gillis remains in compliance with the Acquisition Transaction agreement. The Company is working closely with the City of Long Beach and the state to ensure the closing of the Acquisition Transaction remains in compliance with applicable laws. At this time, the Company is waiting until Lakewood has received its state and local distribution licenses to close the Acquisition Transaction. Following receipt of such approvals, the Company will close the Acquisition Transaction and await final approval from the city and state regulators. The Company expects Lakewood to continue its commercial cannabis manufacturing activities throughout the approval process. Prior to the Acquisition Transaction, the Company has agreed to provide Lakewood with the Long Beach Facility, certain intellectual property for production, equipment and other resources for Lakewood’s operations (collectively, the “Tinley Resources”). Although the only reason the Acquisition Transaction has not yet closed is due to Lakewood’s pending cannabis license applications, there is a risk that the Acquisition Transaction is not approved by local or state regulators following its closing in which case the Company will still have control over Lakewood, but it would create significant risk to the status of Lakewood’s license and ability to operate. At this time, the Company is not licensed and only Lakewood has acquired licenses to conduct commercial cannabis manufacturing. There is no guarantee that Lakewood will obtain the required licenses for cannabis distribution or that the Acquisition Transaction will be approved by state and local regulators. Lakewood’s licenses must be renewed annually and there is no guarantee that such license will be renewed each year. See “Risk Factors”.
Tinley's recent MD&A with comments regardling Lakewood Libations.