Awwww Isn't That Sweetsooooo nice to see the new social media staffer posting about important employee coffee breaks.....brought a tear to my eye....
https://twitter.com/CubicFarms/status/1415295200218451970
Very sweet. Wouldn't it be even sweeter if CUB actually sold something once in awhile you know...for shareholders.....hahahaha. But, then, this is Canada where employees and their happiness are most important and those pesky shareholders who sustain CUB's operations and their massive and growing overhead can go sit in a corner. Good grief...what's ur prob shareholder? Maybe staff should take the summer off with pay (or has this already happened? I didn't see the news..). I think that is a good investment. Where do I send my cheque?
It's interesting that the fluff machine was in full operation before the last dilution event and since then zippo...not even a new board has been formed to study the effect of panda bear farts on climate change or something important like that. So, I know I am the only one here and I am not even a shareholder anymore, the last announced sale was almost 2 months ago. Will they announce another someday? some year? or will they just keep hiring and burning up that new pile o' cash on massive overhead? Last I read in their Q1 md&a they had about 199 machines on their "backlog" but 100 of those are to be installed in...wait for it.......2023.....LOL.....and, as they have also stated in the fine print, they recognize revenues after installation/custody transfer. Sigh.
"The Company does not expect to start delivering modules for the Surrey project until 2023."
"Revenue from System sales is dependent on the transfer of legal title upon the completion of the sales and delivery process – consisting of signing the purchase agreement, customer deposit, manufacture of modules, customer’s
site preparation, shipping, and installation of the System."
So almost 13MM of the almost 27MM in backlog as of Q1 will not be recognized until sometime in 2023. I'd LOL here but it seems too depressing so I'll be gentle.
Don't worry though, good ole' anonymous was busy chopping the tree down again today. At least someone is doing something.