Supreme Cannabis Company Inc. (The) T.FIRE

Why make the announcement 28 minutes before close?

[2Wallets1Empty]

Why not just wait another 1/2 hour until after close and announce?

Think there is another shoe to drop?

[makeitrain]

100% maybe a deal in the US?  We all need to relax here.  BMO just bought 22.5m.  This is great news.  Something is in the mix.

[Pedal2themetal7]

Unless something changed I'm pretty sure Beena informed the panel during the conference call that Supreme had no intention to pursue the US market. IMHO

[Greenman519]

Hopefully the halt timing has something to do with keeping the SP at or above .35.... where it has been for 5 days now... and preventing it from closing below .35! which is halfway to forcing MMCAP their debt to convert to shares - instead of them resetting their clock and collecting interest indefinitely. #RespectTheShareholders

[Aurum1983]

They've "reset the clock" it's VWAP of .45 for 10 days. Not .35 based on the amended convertibles. Bottom line is - they took the opportunity to raise some money on a stellar quarter. I don't blame them. We now have an even stronger balance sheet and established a definitive bottom at .31. I will blame management if they don't have a solid plan for the money and if

[Aurum1983]

Also, .31 is above the EMA20 so there will not be any chart damage. We still have medium term full technical advantage. You have to look at it from a low of .17 to .55, .31 is exactly the 61.8% fib retrace. All news and fundamental aside, from a purely TA perspective, the uptrend from Jan 29 is still intact and we bounce from .31 to beyond .55, or we stablize into a new ascending triangle for the

[valuetrader17]

I asked the same question about their intentions this morning. We still don't have a clue what they're up to. The last time financing was announced we were trading a $.22 and dropped to $.17 ...I have no doubt supreme has some big plans and eventually is going to skyrocket. I'm going to be riding this out in HEXO until earnings and then see where supreme is at that point. GTLA

[johnale]

Last deal we quickly went from 17.5 to .60 5 days after Barclays exited their position at .17 after stripping the warrent.  it seems there is a lot of institutional interest - wanting to cash up supreme. sitting on 65mil + cash. No longer in a net debt position, but surplus.  Balance sheet looks pretty sweet.  reddit users didn't take us to 60 last time, it was the powers

[vulcan123456789]

id afree john.there maybe a day or two of uneasiness due to share count....that i could see.. once this is digested .. or another announcement is made.. we should shoot up to 50 to 60 range... the buy in most certainely needs to appear like a deal.. powers to be should move the share price north . what all yhis cash is for we dont know yet.. someone said its not enough to buy a contender.. perhaps

[AOGEE]

Thanks Vulcan. I was thinking along the same path as a JV or merger with a similiar size entity that will contribute to Fire's strategic business plan that has been set out by Beena, executive team and the BOD. I know that TGIF which I owned a year or so ago got into Nevada by way of an aquisition and they were only 19 cents at the time. They went to over a dollar (I sold) but has now dropped

[WealthBuilder99]

One other thought to consider. To date, it's been the companies with the strongest balance sheets and largest cash balances on hand that have commanded the greatest premiums in the market, for example Canopy & Cronos. It's a growth industry and investors/institutions want to see companies in a great position to grow. Perhaps this is partly what has inspired the last two capital raises.

[johnale]

Absolutely  after the last raise - Method asked me what fire was worth (pre 18.3mil q)  I said 45-50 at least - and he said they needed to raise just to give them a chance to get there. We got there a week later.  Sundial raised 175 mil at a buck a few weeks ago - its sitting at 2 dollars today. 1.5bil+ o/s shares.  It continues to increase our market cap, increase our

[johnale]

Another bit of information that no one knows about - but after the call - analysts talked to Beena for follow up questions - a lot of them tried to pry about what growth initiatives they had planned for the 10mil.  There is most definitely a plan/deal/strategy - that has yet to be divuldged until its completed.  Stifel upgraded supreme to BUY and 55cent PT yesterday. I think those PT

[Aurum1983]

Good insight. This right here is the post of the day.

[maritimedreamer]

So you are seeing this second raise as a positive thing Johnale? There must be a plan for these past two raises....I can't see beena causing this dilution just to be 'cashed up', but yet it is a big head scratcher. You mentioned analysts were pushing Beena for information....did they get anything at all? This $ has to have a purpose....makes no sense otherwise. The fins proved they don

[johnale]

Analysts didn't get any info, but there is something there.  Beena is about generating shareholder value. See wealthbuilder a post attached to mine.  I think institutions are willing to give higher multiples and valuations to larger cash positions. So this will be in line with a higher share price.  Looked like we were getting taken down, even after that great quarter

[Aurum1983]

It's obvious that someone knew about this and was selling in advance. They probably had to release today before the MOC to avoid further volatility. The obvious knee jerk reaction is for the SP to stick to .31. But the bigger question is what Beena will use the funds for. It would also be great if the insiders start buying after this. 2Wallets1Empty - (2/16/2021

[Aurum1983]

I should add that it'll probably be a touch and bounce at .31. Now it's all up to Beena to tell us why they are raising the cash at this time in particular.