Up In Smoke... Puff, Puff, Pass Summary
Management team has no industry experience, and a history riddled with blunders: Poor governance all around, hiring a "rent-a-CFO", and associations with a known stock promoter.
Aurora suggests it is building the world's largest grow op-FALSE! How much product is it really producing vs. buying? It is not (and will not be) a low-cost producer.
Poor capital allocation has cost shareholders ~33% of their value (for consideration that likely retains no value); 20m shares given away are just the tip of the iceberg (worth ~$47m).
After giving away 43% of the PF company in an RTO, Aurora spent $37.5M (4.5x last financing's valuation) on a patient aggregator that seems defunct and has limited future value.
Industry valuation looks silly, even to insiders. $0.50 target price reflects 79% downside (still 25% above the $0.40 raise a little over four months ago).
Link to the article ...