Ventura Cannabis and Wellness Corp CVHIF

CFO Issue

[DashForCash]

It will be interesting to see if the sudden and unexpected "mini-crisis" will delay the release of Q1 results in June. It was never clear if the entire Q1 was going to be released or just some broad statements about how the numbers are trending. Though it would have been a little rushed, they could have gotten out the full Q1 at the end of June - just more likely it would have been in July. I think it is now clear that it will likely be just broad statements for sure without a CFO. Heath can and is stepping in as the "acting" - but he is an obvious stop gap filler as the market would need to hear that someone is technically overseeing the financial dept. In Heath's case, understanding the financials is different than insuring 100% they were all produced accurately, all areas and accounts were covered, etc. In saying that, there should be no delay on the Q4 release as that would have been 99% complete by Rivera before he left. For Q1 there would be junior staff that can assemble the info. - and work towards the final prep, however, I would imagine Heath would prefer the incoming CFO have a review and essentially sign off before it is put out there. In trying to find a small positive in a horrible situation for the Rivera family on a personal basis and a disruptive basis for team Convalo, at least moving forward we will be able to attract someone with deep talent and a professional designation finally (CA,CPA,CMA) - something we technically have not had though I am sure Rivera was more than competent. Bottom line is there are TONS of accountants out there to choose from and this should not take too long (circa a month max. for final interviewing, final hire and implementation into the role, etc.) would be my guess - we need the right person and don't need to rush to just fill the space. We have cash in the bank, a solid balance sheet with minimal and very manageable debt and an exciting business model that show great potential growth - MANY will definitely be interested in joining the firm.