Maple ridge facility similarities...IM starting to worry in regards to the Laval facility. I mean overall, MYM has me terribly skeptical beacuse, well their track record. But, this is getting ridiculous.
There are so many red flags with this company: Maple Ridge, Budly, ad campaign/cannafacts website, laval facility being what 10k sq ft, and only owning 90%, delivery (or lack thereof) of greenhouses on July 1st? Suspending operations/sales of their only revenue streams in JoshuaTree hempmed etc (I realize this is to potentially adhere to HC, but why not state that in a news release, instead of burrying it at the end of a NR saying theyve broken ground on weedon, for the 5th time.
Management has seemingly played musical chairs for the last 3 years. At some point MYM, you are going to need to get a plant in the ground. What I fear is they will just abandon Laval, focusing on Weedon and their Columbian operations. BUt I mean, where the F''K is all of our money being spent? They are going in a million different directions. OH the museum and college their buidling as well. More Private Placements to raise the required 200million for Weedon?
Its tough. I feel they are overvalued for what they are presently. But if even one of their plans (weedon, Northern rivers, laval to a lesser extent) actually breaks ground/receives their license to grow then I feel they are terribly undervalued.
One thing forsure, I wish management would be more transparent, and not bite off more than they can chew. They have so many plans it seems they lack focus and direction.
So much fluff in their news releases. Some plans say they intend to have 300,000 sq ft done by Q3, some suggest they only intended to have 30,000 sq ft completed.
Why are no institutions backing them? There have been so many mergers and acquisitions (HIKU and WEED just yesterday) that you would think with all MYMs potential (especially in the australian market) that the likes of Aurora, Canopy or Aphria would be chomping at the opportunity.
Ive emailed, phoned and today even posted on their facebook page to try and get some information/insight. Not once have I received a reply.
Anyhow, Im not a basher nor a pumper. I own a small chunk of change with MYM and am hoping for the best. BUT, there are definitely some valid concerns here.
GLTA