RE:DDEveryone will have opinions regarding previous managers, I realize some will strongly disagree with me but John Fowler is a visionary, who structured the company with probably the best foundation when it comes to quality product, right sizing etc. He studied the consumers, traveled to the US and educated himself regarding mistakes made by the early producers, researched genetics and applied his findings to 7Acres. He is passionate about the plant, and never wavered from the fact Supreme was a producer of premium product. When it comes to his CEO skills, read the literature and form your own opinion .I won't elaborate on the B2B model, but the company was structured in such a way that the transition was done efficiently.
Then came Nav.
January 6th 2020, Colin was appointed interim CEO.
Feb 11th Moore announced a number of changes including rightsizing the Company’s cost structure and focusing their efforts on near-term revenue-generating opportunities.
Feb 13th part of Q2 2020 release: With an optimized cost structure in place, the Company is moving forward with its strategy to transition to a premium cannabis CPG company, driving near-term revenue with new high-quality brands and products at every price segment. This expanded, consumer-facing brand portfolio is being supported by an innovative sales model that achieves comprehensive distribution across Canada.
As one of the few licensed producers with completed cultivation infrastructure and in-house value-added processing capabilities, as well as proven premium brands in the recreational market, we are well positioned to accelerate our CPG-focused transition. Our strong liquidity position, including the Credit Facility arranged by a tier one bank, further ensures we have the capital necessary to execute going forward.”
Kincardine facility:
Expected packaging 48,000 containers per day
Expected cultivation
50,000 KG annually
Langley facility:
Oil Bottling ~ 1,000,000 bottles per year.
Vape Cartridges ~ 1,500,000 carts per year.
April 27th, 2020 Beena is appointed CEO. I personally believe she is an elite CEO, between Beena and Colin they transitioned this company from a B2B to a CPG in less than a year, Beena made the necessary business adjustments in order to concentrate on growing the business.
This company is extremely nimble and can adapt to changes in demand regarding certain SKU in a short period of time due to their independent growing rooms.
Once they gain market share to produce at full capacity, with their minor debt and potential revenues, I believe this company has enormous potential.
Q2 2021, show they can deliver, the only thing I personally don't feel comfortable with is the present SP, when I invest in mid to top tier companies, SP is not a concern as long as the fundamentals and balance sheets are strong I'm satisfied, but the penny stock status is so vulnerable, once they gain traction I'll definitely add to my position.
Not much else to say, its either you believe Supreme will be successful at gaining the market share necessary to produce at full capacity, or you don't believe in their business model.
Still lots of work ahead, but I believe Beena has done an amazing job, my understanding is the Kincardine and Langley facilities are completed and able to produce at full capacity once the market share dictates it, they have cash available, and on the verge of being profitable with minor debt. IMHO