PINL:CRFTF - Post by User
Comment by
Wallhallaon Jun 18, 2019 7:10pm
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Post# 29837965
RE:RE:RE:RE:Needs to be a business behind the brands to make sense
RE:RE:RE:RE:Needs to be a business behind the brands to make senseYou obviously didn't read their release. They are planning to build out extraction, which means they don't have it yet, which means they don't have any CBD oils and certainly not edibles (as these are still not legal). This means they need to build and get licensed by Health Canada before any of this happens. Of course, they can build this out, but a current valuation of $100 million is not realistic and way overvalued. My only point is that there needs to be an actual business before such valuations are justified. So many companies have failed on execution in this industry that it is prudent to see actual revenues before giving such valuations, especially when the team is clearly still being built out. I think they went public too early without having the proper infrastructure in place to run a profitable business, but based on the cap table it looks like this was motivated by founder shares. But that's just my opinion.