RE:BiosteelThe whole accounting industry has lost their reason for being.<br /> <br /> To me, a proper financial statement needs to be consistent with the same entries, good or bad but no new entries to try to sway the value of the bottomline.<br /> <br /> This creative bookeeping/accounting is a joke because judging from what happened here with BioSteel, the STZ people who are hardcore business professionals couldn't get the right read on the finances if we have to revisit it after the deal is done.<br /> <br /> Accounting needs to be standardized as legal reporting, free from creative financing! Just the truth for honest investors.<br /> <br /> STZ came on board with Canopy and hindsight tells us they overpaid and the market didn't like the switch from irrational enthusiasm sharepricing to shareprice based on normal business fundamentals, as in accounting based to bring Canopy back from the crazy shareprices that the sheeples gave it.<br /> <br /> Reality is a harsh mistress and actually following the money in and out should be easy for people with basic math skills.<br /> <br /> The way these companies take liberties to colour glossy the truth needs to be dealt with.<br /> <br /> Interesting point I read today about the SEC awarding a whistleblower with $289 million dollars for aiding and assisting in bringing charges, raises the question of how much money is in it for those willing to cook the books and stack the deck in their own favour.<br /> <br /> Sadly the SEC pays out $4 billion, so how many of these players are breaking the rules.<br /> <br /> And how many think that nothing changing means that this is just the way business is done here?<br /> <br /> Wrong is wrong but the SEC watchdog is only gumming these bad actors, because it continues to happen, actually seems to be growing.<br /> <br /> Same with the bad banks which leads me to the marketmakers.<br /> <br /> Somebody is playing Canopy with excessive downward pressure by shorting or coercion to paint a nasty picture. The BioSteel bs is STZ focking up and heads should roll over that. Those guys charged with painting a financial picture, screwed it up so badly that it has to be revisited and at the worst of times for potstocks who made honest efforts to build a new industry and are getting the royal screw-around by politicians.<br /> <br /> Even I have raised the same questions as other posters who feel the STZ is involved.<br /> <br /> They came in with some significant dollars that turned out to be too much for what they got, back in irrational pot pricing times.<br /> <br /> $5 billion is a lot of money but STZ are smart and calculated and wanted to be a part of the cannabinoid hot plays, I beleive with intent of rounding out their stable of skus because they saw writing on the wall that cannabinoid infused beverages were going to take a huge bite out of their soft alcohol marketshare.<br /> <br /> Other players got the same vision in their crystal balls and started exploring and positioning themselves for cannabinoid beverages.<br /> <br /> The foot-draggin' that is being led by those charged with bringing the change that the voters want, to legalize cannabinoids has a bunch of the beer and alcohol makers backing off and also has the cannabinoid bottlers positioning themselves into beer and alcohol companies to bolster their bottomline while we wait for the inevitable.<br /> <br /> I can't believe how the US is dug in so hard on pot legalization for adults when it is a safer choice than alcohol and removing the alcohol and subbing thc brings a fun new vice with less sugar and calories, much healthier.<br /> <br /> And if the barscene is looking for a new Shirley Temple (no alcohol) adult tasting beverage that could also provide relief for medical ailments like sleep, anxiety, arthritis then CBD is so close to THC that subbing it in is easypeasy.<br /> <br /> Canada was first out of the gate and the Canadian government is collecting tax dollars despite all of the mistakes they have made along the way as far as posession limits and packaging rules that are absurd.<br /> <br /> They legalized ans strangled the pot biz at the same time.<br /> <br /> The US has a chance to give the illegal market a big hit by forcing them out or allowing them to be growers in hot countries with cheap labour ( the way it used to be). Force them to produce a clean, safe product and let the US players do the value added portion of manufacturing more desirable consumption products than smokeables to hopefully keep the killing and maiming to a minimum in the US.<br /> <br /> This is not going to be easy but it has to start somewhere, sometime!<br /> <br /> If they take the best parts of all of those bills that have been presented and bring in pot professionals to keep the train on the tracks with what they need to thrive.<br /> <br /> What is currently happening is so unfair to a new industry and consumers to have such a discabuberated mess of laws when they could legalize at the Federal level and launch the biggest greenrush the world is ever going to see.<br /> <br /> Sadly, too many swung over to the pot industry in anticipation of legalization with commonsense that are going to have their lunch eaten. Too much pot, too many players and a flourishing illegal supply! The too much and too many are going to get rightsized by about 95% before the strong players can break out again.<br /> <br /> US investors need to write their politicians because the pen is mightier than the sword even though I think the sword should be used more on bad accounting types that are self serving, lining their own pockets with opm.<br /> <br /> The SEC needs a serious tuneup as do the banking watchdogs. The accounting industry need to get back to basics, no frill accounting that was their reason for being in the first place.<br /> <br /> Some of the biggie potpreneurs need to make some significant political contributions or just outright graft to implement the change we want, not because it is right but because that is how business gets done in the world.<br /> <br /> Never a better time to be activists!