RE:RE:RE:RE:FinancialsSam. Good partial response but let's be realistic. This is legal in only one country in the world that has a population of 17.44 million, slighly more numerous than those living in Ontario. In Ontario.
All the talk in the media is about decriminalization. TRIP cannot sell into a market where the product has been decriminalized but is illegal.
So why would institutions buy into TRIP when Holland is still the only country where the product is available to the rec market?
In terms of your understanding of the rec consumption, is the frequency of consumption the same as with pot? If not, is it more or less?
So before TRIP can be sold in any market outside of Holland, the product has to be legal in that country before TRIP can even try to penetrate that market.
So if this is a serious product and not a pet rock phenomenon, and since the currentt vision for the company is just the rec market, then attention needs to be directed as follows:
1. eliminate the debt especially when the cash position is so strong. What is the percent interest charge to TRIP for these loans and to whom are these loans payable? These are absolutely abhorent practices that demonstrate very weak management overshight or less than arm's length practices might suggest practices worthy of further investigation or both.
2. Without government approval to legalize this product, TRIP will not be able to generate $1 of revenue. I hope that is clear to all concerned! Not $1 of revenue until it is the law in each country to allow this product to be sold.
3. So Todd, let's start with Canada, especially since pot has been made legal for the rec market. Based on your expertise with pot, by when do you think that one can legally buy this product in Canada? I am not talking about decriminalization. I am talking about the only way in which TRIP can sell this product in Canada: it MUST be legal to sell and buy this product in Canada. So when will that be in terms of your best estimate? Until then, its just cash baby burn as TRIP is doing with its professional fee expenditures.
4. Now let's move to all the other countries of the world except for Holland. Virtually all of these other countries have yet to legalize the rec consumption of pot. Do you think they will move first to legalie this product before moving to legalize the rec consumption of pot? About the same time or different? In how many months or years do you think this will take to other countries to legalize this product?
5. So why would institutions be interested in buying into TRIP when it is legal for domestic rec consumption to 17.44 million people and the other 7+ billion people cannot buy this product legally?
A strategic refocus is urgently needed: shift from super creative, far out cool ideas that of the pet rock variety until this product is not decriminalized but made legal for rec market consumption. Until then I agree with the idea presented that these huge creative expenses should be put on the back burner. Take Canada, already in a much stronger postion to legalize this product than the US or anywhere else, serious education and professional support initiatives are needed to get the Parliament to approve the legalization of this product. Until this happens TRIP will make $0 revenue on this product. T shirts are cool, as are lights and muskoka chairs, but lets get real, this product will not be legal for TRIP to sell in Canada UNTIL the product has been approved by Parliament.