The Financial NR is more fluff and promises.So this is the big news ? Isn't it just more of the same old vagaries and promises ? I knew that we would not see anything in the Niagara greenhouses as promised in August. They are still "retrofitting" and "breaking ground" at the Niagara facility ? When will they get some product growing there ? We have had reports of posters who "drove by" and "smelt weed" but I would have to take the word of the company that the only facility that is currently operational is Brantford. Doesn't anyone else have a problem with this ? Remember, Niagara was purchased in January and we were told retrofitting was already finished in April ? This inaction speaks of a company who is clearly not making any efforts whatsoever to be able to produce the product they will need to have available for sales in October. Anyone else getting concerned yet ?
The following is copied from the NR:
"The Company currently operates cannabis production facilities of approximately 167,600 square feet of indoor and greenhouse production capacity, in the aggregate, of which approximately 7,600 square feet is currently operating at or near full production capacity at its Brantford Facility and approximately 160,000 square feet at its Niagara Facility that is currently being retrofitted. The Company has broken ground and begun construction on the Phase II Niagara expansion which includes 40,000 square feet of processing space and 160,000 square feet of additional greenhouse space dedicated to cannabis production."
Also take a look at the "major costs" for the quarter and year. I don't see anything that speaks to work being done on the Niagara facility. That would presumably be a major cost !
"The Company's major costs relate to: branding and marketing efforts of $2,729,604 for the quarter and $3,266,461 year-to-date; share-based compensation charges of $3,454,246 for the quarter and $7,194,855 year-to-date; wages and benefits of $1,769,010 for the quarter and $2,390,449 year-to-date; consulting and professional fees of $927,877 for the quarter and $2,204,718 year-to-date; and other growth-related costs including travel, telecommunications and information technology."
This is beyond ridiculous.