SSL does the right thingHexo's problem - beside having SSL as the CEO - is that both it and Zena are cash burning cows. 48North was just a ridiculous waste.
Redecan has shown a profit - but it's seems unlikely that it's enough to support the accumulated debt servicing - with Zena/Hexo's combined net losses.
So - plain and simple, it's not bashing - it' simple fact - that there's either additonal financings and dilution or bankruptcy in 2023. It's not gross sales - it's net profit that's needed and Redecan making a quarterly profit of $4 million doesnt begin to cover Hexo/Zena/48N combined net loss of about $40 million a quarter.
Get rid of SSL, close Zena Langley and sell 48N - concentrate on properly consolidating Canadian operations before trying to yet again over extend into the US in the near future. Going US now - already too late - means yet more fiancnings and dilution.
Hexo should never have bought Zena (and certainly not 48N) -m that cash coudl ahve been used for the US - but it's too late now.
In order for Redecan to continue it's success - Hexo needs SSL to keep his hands off, otherwise this pos will be bought out for pennies.