Supreme Cannabis Company Inc. (The) T.FIRE

ATM for May

[Method]

They filed the ATM on SEDAR for May. Raised almost $1.1m. 

Good for both equity and debentures, I think.

[watchmeplz]

In my opinion, it's funny if your check the avg share price the only possible way the company raised that at such a high average is to be dumping right on the peak of the run up, May25. Nice move for everyone but your average shareholder. Seems like they need more cash and working on the same move today. 

[Method]

Sales are limited by percentage of volume and volume was highest when the stock was at the highs so that should be expected. Also, it is a nice move for the average shareholder if they get the highest price because there is less dilution. i hope they are still using the ATM this month. They need $100m for the FIRE.DB. $1m/month is a drop in the bucket. Every dollar helps.  

[watchmeplz]

In my opinion, don't you feel sorry for all the retail investors that get dumped on by their own company? And dilution is not less when the sp comes crashing back down with millions more in the float, just crowds the pool more. I wonder what happened to undrawn credit, maybe the bank withheld those with some special conditions?

[Method]

Why would I feel bad for retail investors? They know what they are buying. I pitched my thesis that the debs are better but they have made their investment as they see fit. Everyone investing in FIRE equity is a grown up. The company needs to raise money to pay off the debentures with equity/cash flow now or later. Might as well get started.  They can't use the bank line to pay off

[watchmeplz]

In my opinion, no retail investor knows on any run their investment is goong to be going into a loss by their very own company blowing out shares. Also, I never once said credit facility to be used against debentures that's completely fabricated from your mouth 

[Method]

You inferred they were using the ATM to fund operations as if the credit facility was no longer available for some reason. Like I said, you make a lot of illogical inferences.  And shareholders here know the ATM was filed. They understand the debentures have to get paid off and they are happy to do it because they think the residual value of the company is significantly higher than here

[johnale]

Well said - shareholders decide the value.  with this pandemic slowing rapidly actoss the country and a massive retail march of cannabis stores about to open up - this sector looks like it's turning bullish.  With a proper sales team supreme should be able to shelve their top shelf product - and start to get those revenues we were looking for.  with a right sized

[brentkosta]

This post has been removed in accordance with Community Policy

[Method]

I do have compassion which is why I explained they should switch into FIRE.DB if they want to have more money than if they stick with FIRE but that's all I can do. I don't see much compassion in your posts. It seems like mostly passive aggressive nonsense. But hey, you do you.

[theTransporter]

Debentures can also have a surprise upside.  Look what is happening with 1933 Industries (C.TGIF) debentures.  They have a conversion price of $0.45 and mature in Sept 2021.  Stock has been trading at $0.10 to $0.12 range over the past week or so and debentures (C.TGIF.DB) have traded in the $50 range as of recent (50% discount).  Just last week they proposed to re-price the

[Method]

Good point Transporter. I wouldn't call it a surprise outcome though. Management teams and BOD generally want to avoid bankruptcy.  Ask yourself, if you rather own FIRE or the FIRE.DB if they drop the conversion price to 35 cents or lower. What would happen to the price of each security?