Post by
MuttleyKnows on Jun 04, 2023 11:34pm
Next steps ...
As expected, the results for 2022 were solid. This is has been the case for the past several years as the company has been consistently generating positive EPS and positive cashflow.
This the quote that we should be focusing on for the company's next steps.
"Chairman of the Board of Directors, Bruce Macdonald commented: "With our final $0.5 million monthly principal payment on June 1st, we have completed full repayment of our $30 million senior secured note to our CEO, Sonny Newman. Over the past four years, our ability to generate consistent, meaningful free cash flow has afforded us the opportunity to repay the debt without the need for a dilutive or high-cost capital raise. The Company is now better-positioned to extend our retail footprint to align with our recent cultivation expansion."
Simply impressive ... USD 30 million of debt paid down over the past 4 years with the company previously scheduled miniumum annual payments of USD 6 million to pay down Sonny's debt. Now all this money can be put to other uses. Looking at the quote from the Chairman, it looks like they are hunting to for addtional retail outlets ... specifically "The Company is now better-positioned to extend our retail footprint to align with our recent cultivation expansion." Adding more dispensaries is now doable and manageable with all this free cash being generated by a debt free company. Waiting for an acquisition announcement while we also wait for Washington to catch up with what the States are doing on the legislative front.