RE:RE:Getting tired here To answer your question about the quarterly updates, they quit doing them because there's really no point, all they do is tell the information that will be revealed on the releaese of earnings. There has to be some small expense to doing the operational updates (slightly more labour bookkeeping, labour typing up and preparing the update, press release costs?, etc) so discontinuing the updates should be seen as a good thing for the company. Sure it provides less catalysts for a share price jump, but if you think of the stock as ownership of the company, it's a net benefit.It is not because Input thinks the news will be bad, there's just no reason to do them.
Don't know if you've read any of my prior posts, but there are legitimate reasons Input trades at what it does. A hopefully short list:
1) The value of reserves is ~$1.30 right now. This is how I think Input should be valued. It's essentially a lender, which often trade on multiples of book value, so why wouldn't it apply here.
2) Growth hasn't played out and management constantly misses their targets. The whole idea of Input is there are so many canola farmers that growth should carry on for years before Input reaches saturation. The growth stopped well before that, and they had to come up with a new product in oder to keep growing.
3) The new product, the marketing stream, it remains to be seen how profitable it is, how they can grow it, and what the value proposition is. The grain marketing business has much more competition than farm financing. Input says marketing streams are more profitable, nd that they can grow them almost exponentially, but they also said they could deploy $50 million a year for as long as they want to and you know how that worked out
4) A lot of moves by management, at least to me, look like ways to enrich management. The shares pay a dividend, despite being a young growth company. Management gets compensated very well despite what I view as subpar performance, not sure how they can justify their salaries and options while they miss targets left and right
5) OCF doesn't covert to FCF, at least not yet, due to the constant need for reinvestment.
These reasons, as well as a few more, are enough for me to not hold Input. Of course Input is one press release from going on a tear, so depends how you invest. I personally wouldn't go to cannabis streamers, it is likely to have the same problems long term that Input does, streaming a crop is very different than streaming metal from a long life mine. But I can't speak too much on the topic, as I haven't looked closely at any marijuana stocks in a long time due to valautions making no sense.