Weebles you still kicking tires on these guysIts been a while Weebles! Youre still singing MYMs praises I see. Making excuse after excuse.
"MYM shouldnt project/forecast any timelines, as most things are out of their control" - Weebles
Dude, how come other companies project timelines and adhere to their deliverables? Its been 5 years, they have no license, no revenue, and countless failures. Zero execution.
How many PPs can they do? Didnt they get funding from Alumina? Whats that been allocated for?
You mentioned "Laval can grow year round due to their heated greenhouses". Laval is an indoor grow op, no need for greenhouses when you have hydroponics set up within indoor grow rooms. Youre thinking of Weedon perhaps? Hows that failure coming along?
Again, Laval's estimated output (at max capacity) is just north of 5,000Lbs (gosh I thought it was KGs, this just further proves my point). So about 10million in revenue/year. (Note- im uncertain if this output is based on full expansion from their 10k sq ft space). Gross margins cant be higher than 50% based off a wholesale selling price of around $2.20/gram right? So would you agree its safe to assume their profit is about $2.5million/year? Thats also gross profit, we also know they like to pay themselves handsomely.
Now Weedon, I think we can agree thats where the money was. Roughly $400million/year in revenue. Too bad that was just smoke and mirrors.
Oh and the australian project Casino was also a cash cow, but we know where that ended.
Youre placing your bets on a 5,000Lb operation guys. Oh and management that has played musical chairs for 5 years, while continuing to move the goal posts.
Just look at MYMs former CEOs track record: MYM= bust... Balto resources= bust.... his newest venture ORI (PP at .50 and $1 I beleive) = now sitting at $0.09 up from 0.06 last week.
Stop blaiming HC. They are and should be extremely diligent in who they approve. Removing our biased optics, as HC would you approve these kids? Too much risk imo. The large players were set, and the barriers to enter are just to grand for MYMs past and current management team.
Invest in management!! Plain and simple..this company is a dud and has been for 5 years. If i can help a few people not lose money, like I did with these guys, I am pleased to do so.
Apologies for the long winded post, Ive bit my tongue for months checking back in to see the overall feel of the thread. Move on guys, DONT average down. For the love of god!!