Choom Holdings Inc CHOOF

Soon to be choo holder

[Doupahorse]

Hi all
will soon hold ALOT of choom. And needing it to sky rocket to break even. 

From my research choom with its 15-17 stores should be WELL OVER its market cap. Throw on vida feeloki products , online marketplace and us entry then how is this not exploding?

people not caught on or am I missing something

[blackrooster]

Good news isnt around yet. They reported 2.5 million revenue from all of their stores from January to March. They had no cash left on balance sheet, and bought vida with all shares. The fully diluted share count will be around 400 million.

[thatguy16]

Like I said. This stock sucks.. screwed a alot of people

[theinvstore]

I think you mean a lot of people put their money into this with unrealistic expectations. It's not going to happen within 1-2 years of legalization. This is long term for a healthy profit. 

[theinvstore]

Current fully diluted = 209,309,161 from the news release " The resulting composition of the issuer will consists of 78% Choom shareholders and 22% Phivida shareholders how does a 22% increase make it 400M? It's actually 358M. That's how arithmetic works.

[blackrooster]

Look at their website. Under investor info (second link). Choom says their fully diluted cap us 295 million and this does not include auroras sunshine warrants. Once the transaction goes through it will add about 100m shares making 395m. That's where the 400m estimate comes from.

[blackrooster]

Here is the link. https://choomholdings.ca/investor

[theinvstore]

I see, either way I foresee consolidation on the horizon. Question is what will it be 3:1 ? 4:1 ?

[blackrooster]

I do agree they may do a reverse split, not sure when tbh. The real issue is revenue.  They are at about 2.75 million a quarter w/ both choom and vida's revenue.  Vida had about 6 million cash on their balance sheet, choom was under a million when last reported (658k on report). Choom spent 2 million on administrative fees and employee salaries last quarter.  This alone is

[theinvstore]

Online and curbside ends thid month.... This will bolster $

[Doupahorse]

Didn't they sell online 

[theinvstore]

https://www.google.ca/amp/s/mjbizdaily.com/ontario-set-to-end-cannabis-delivery-curbside-pickup-despite-ongoing-pandemic/amp/

[SkataNaFuss]

Really stupid decision by the Ontario government not to allow retailers delivery as an option. Retailers, the government, all the licensed producers, are losing soooooooo much money to the black market, and this is one reason, delivery/convenience, along with overinflated prices on quality products. The whole cannabis sector would explode if the illicit cannabis market was eliminated....