RE:RE:RE:RE:RE:Supreme in Top 10 OCS sales with 3% market share Oct to DecI'd like to see how Beena intends to grow that market share as obvioulsy it will need to come from someone else losing it. Everyone is fighting for their piece and companies like APHA (which I do own) and WEED have been agressive in growing their piece of the pie as well.
What fu.cked this company over is the horrible financing deals and the dilution that has come from it. Back in early 2017 this had 188M shares outstanding. Today the float sits upwards of 700M+ fully diluted. That's over 3.5 times more shares!! Meaning, the all time high this ever hit at $3.45, the same market cap it achieved today would result in a $0.98 share price. The large LP's today (WEED/APHA) haven't yet hit their ATH so good chance Supreme will not see $0.98 ever again.
Dilution is just out of control and Beena is responsible for 50% of today's share count as it has doubled under her watch. Can't blame her for all of it as she got dealt a bad hand from previous management, but her timing has been horrific when renegotiating the debt (she did it when this was trading as today's levels), but the ATM dilution and the dilution from last week (155M shares from the new $20M raise) is all on her hands and us shareholders are still in the dark on this. She kept the ATM open when this was trading at recent all time lows and there was no need for the money... unless there is something we still dont' know.
Looking at market share, this company is within the top 10 LPs of Canada still, but definetely not top 10 in terms of valuation. Dilution killed this company, and the devil they did the deal with molested the stock (MMCap).
It's going to be a looooong climb up as over 70% of the float has a cost basis of under $0.20 so you can bet there willl be profit taking at every half penny up.
This company had everything in the making to become a top 5 LP in marketshare and valuation, it was theirs to lose.. which sadly, they did.