RE:RE:RE:RE:RE:RE:RE:RE:RE:3 million in the bank?Agree with almost everything except the Canopy part. I'm a big ACB fan but my exuberance is based on a somewhat unhealthy amount of research. Overall premise is solid though. Pick established companies: WEED, APH, ACB, MJN, CMED, (not a fan of OGI).
FIN has always been mad money...put it on...green. So when people talk about investors vs. gamblers I hope they realize just how thin that line is here. I don't regret the money I allocated to this company because at the time it made sense. If the deal had gone through we all would have been thinking how smart we were to take a chance on this. It's a thin line and a tough pill when you can't even influence the decision.
Now what are we? A defunct mining company with 3 million dollars in our pocket and a CEO that needs a win just as bad as we do. Down but not out. Classic underdog story.
So the question now becomes what can we buy with 3 million dollars? Well...I don't know exactly. Another company I own, Namaste, just bought Australian Vaporizers for ~5 million. That company controls the majority of online vaporizer sales in Australia and had a 45% gross margin last year. So obviously not that...but something like that.
People have been talking about the importance of having cash. I haven't heard anyone really talking about how important it is that this is a publically traded company. As far as I've looked a lot of the Canadian LPs have been RTOs (reverse takeovers). CMED was a notable exception but we are the perfect shell for any number of cannabis crabs to come and live in. Tilray and Broken Coast are both established west coast LPs. What if one of them wanted a nice cozy Finore shell to come and live in? Don't get excited, those are just examples. You guys should get the idea though. This is a speculative sector and right now this company is one hell of a big speculation (or gamble...depending on how you look at it).