RE:FinancialsI'm trying to find the numbers you mentioned below but I don't see them anywhere? I'm copying and pasting below from sedar . The promissory note for SR is not new, and it is $442,700, and can be converted into shares at $0.38. And I don't see anything about a loan to Happy caps. And you say they burned 2 million this past quarter, but using below figures from Sedar I show they had cash burn of 1.8 million for two quarters, which is better than most startups, especially considering all their acquisitions.here is what Sedar shows:
As at September 30, 2021, the Company had cash of $29,051,617 (June 30, 2021 - $30,138,612) which means their cash position dropped by $1,086,995, not the 2 million you mentioned. And they used cash in operations of $1,835,479 for the six-month period ended September 30, 2021 compared to $1,713,675 in the six-month period ended September 30, 2020. On March 19, 2021, the Company acquired a 100% interest in SR Wholesale BV (SR) for consideration of $2,153,495 comprised of $1,406,690 (€953,207) in cash plus an unsecured convertible promissory note to be issued for $442,770 (€300,000) plus the recognition of the fair value of the conversion feature. SR has established a distribution network of over 300 companies that sell its products across Europe. The promissory note, denominated in Euros, carries an annual interest rate of 5% for 2 years and matures on March 19, 2023. The note can be converted into shares of the Company at a conversion
price of $0.38 per share.
On June 10, 2021, the Company acquired an 80% interest in 4316747 Nova Scotia Limited ("Happy Caps"), for
$50,000 cash and 1,290,323 common shares. This transaction was ascribed an acquisition price of $450,000.
Happy Caps’ Mushroom Farm in Nova Scotia, Canada, is a unique gourmet mushroom farm, cleverly positioned in
the mushroom plug spawn business, selling fresh mushrooms for the wholesale market and specializing in 'grow
your own mushroom kits' with sales in Canada and the United States. BrokerG wrote: auI am not sure where to start with how bad these numbers are.And you wonder why the share price was going down before the release. Because the rats were leaving the ship
First, shares outstanding has increased to 355 million. Second, they gave Happy Caps, $772k in loans with no repayment. In other words, free shareholder money. Third, their cash decreased by 2 million in one quarter. Fourth their long term debt increased by 1 million from the SR wholesale acquisition. The market is telling you what it thinks. I have no idea what to do? HELP