RE:MgwTruth is, to justify a sustainable rally we need some solid good news in the form of a news release of them actually successfully accomplishing something. MGW has a lot of prospects which could energize the share price, but the problem is that almost all the news we've received so far has been inconsequential or meaningless to excite investors. The last 2 years have been lost years and broken promises for MGW supporters. Every company has their setbacks, but it seems that with MGW, it is their standard business practice. Their current predicament defies explanation and confounds all logic. Instead of focusing on Telkwa, they spent a sizeable amount of funds on chasing the pipedream in Henderson which has so far yielded absolutely nothing except a vacant lot and a piece of paper. By epic procrastination and bad deals, and now a scramble to finish their greenhouse in Telkwa is complicated by their dwindling coffers. Remember, MGW does not own the land in Telkwa and are leasing it and the rent is exhorbitant for the geographical area. They could have easily bought the land at Woodmere for the money spent at Henderson, but with the delays, they're just burning cash with no revenue to support it. Just about a month to go, management was blaming their suppliers and contractors for the last minute rush for labour and equipment to complete the job. Everyone knew of the impending legalization of MJ in Canada. Focus your resources on attaining the all important license and be production ready by the day. Accomplishing that simple task would have most likely kept MGW above $1 through year and give them a foot in the door as a credible early producer.
The capitulation today, in accordance with the down day for the MJ sector, just shows how dismayed and disillusioned investors are with the company. I believe they really need to show some results if they are committed to keeping the company alive. Truly, they need to pick up the pieces and put everything they have into completing Telkwa, get the license, and begin growing, ASAP. As shareholders, we should not have to tell management this! <rant over!>