Emblem Corp EMMBF

RE:RE:RE:Anyone know if the greenhouse construction has commenced?

[puppymonkeybaby]

deminimis wrote:

Yeah, that is what I was getting at. This greenhouse thing always smelled fishy to me. The cost of the project never made any sense, the estimated cost is about 3x what it should be based on other comparable projects. The total lack of urgency of getting the thing built also is perplexing. The board approved this greenhouse plan in mid-October, almost 6 months later they haven’t even broken ground? Hydropothecary didn’t buy the land their 1M sq ft greenhouse is being built on until mid-Dec and the thing is supposed to be done by the end of this year (with a total project cost of $115M btw. That is about 7x the size of Emblem’s proposed facility at only about 2x the cost). The return on capital of Emblem’s proposed greenhouse is atrocious.

 

The 50-60M project cost does sound about right for a 150,000 Sq Ft manufacturing facility i.e. beverage bottling plant, edible manufacturing, etc. I wonder if that is actually what they plan on doing with that site. As you said, that would be more in keeping with the business plans communicated in the investor deck. I wonder if they do not plan on even carrying a dried flower product line for the CDN rec market. They have already stated that they have abandoned their original “premium” rec strategy that high grade flower would have been produced for and instead will be targeting the health and wellness category (which presumably wouldn’t include smokable products). I think the flower produced in the  Woodslee facility could be solely for the CDN and international medical market where they will get way better margins than in the rec market.  I think this would be a very smart business plan and would explain why they aren’t in a race to build out capacity as there will be limited non-flower products available on day 1.

 

They are on a hiring spree so they must have something big on the horizon that we don’t yet know about.

Its pathetic that nobody has any idea what this company is up to. Abandoned greenhouses and pivoting rec plans... This has red flags written all over it. I doubt this will fall much more than this simply due to cash on hand and license value... however, it definitely doesn't seem like this is going north any time soon. If emblem started securing wholesale supply deals from other LPs I'd understand they were pivoting into extracts and derivatives. They have not done so. So no capacity, no drug patents, no intellectual property, no future capacity and really no reason for any new money to come in. Just a bunch of high payed execs playing around with share holder money. Maxim Zavet seems to travel a lot. Stewart hasn't shown up to work in 6 months yet keeps his lofty salary. He also sells stock. CEO and CFO own zero stock. The old CEO has liquidated his entire position. This is by far my worst investment and if I make a dime on it, I'll have been blessed. Frankly it would be prudent to cut my losses here and direct it to a better play, such as Aphria.