Post by
Keeler on Feb 11, 2023 2:01pm
Hexo? - don't bother
Comparing Hexo to VFF is akin to comapring KIA to Toyota.
Hexo isn't exapnding, they've shuttered the elased Langley facility, shuttered their 48North purchase, sodl their Newstrike facility - 6 months after acquiring, lost the Zenabis facilities to bankrupcty (acquired by SNDL), lost their EU-GMP certified facilities, just completed a 14-1 reverse split to reduce their shares from 600 million to 43 million, share price was around .15 cents - dropping as low as .07 cents a few weeks ago. Signed a master/servant agreement with Tilray for Tilray to take over a $200 million theyw ere about to de fault on.....and I could go on, redcued quarter over quarter sales for the last 5 quarters, dropped to #5 in Market Share at around 5% (from 17% two years ago), biggest loss in their home province of Quebec (to OGI and VFF), lost almost $2 billion in the last 3 years, reduced staff from 1200 to under 500, Molson Coors termianted their JV to produce CBD beverages in the US due to lack of interest (sales were reported as 'immaterial') - Truss Canada dropped Hexo as a supplier - stating that Protonify coudl supply a more consistent, higher quality product.,.....and I could go on.
Yeah sure, 'peeps' - check out Hexo. Take a look at the Corproate Presenattion on their website - oops, the one they did was in January 2022 for Aug-Oct/21 quarter - and they have withdrawn their guidance. They will have to do anotehr financing soon - their auditors state they do not have enough cash for the year.
Comment by
Keeler on Feb 11, 2023 2:03pm
sorry for the misspellings everyone - I really have to slow down when I type