RE:RE:RE:RE:RE:Green weekMost of the work right now has to do with the interior and probably not visible from street side. Apparently, the equipment for the facility was ordered but delivery was delayed due to a backlog from the manufacturers/distributors due to industry wide demand. A good question to ask management is whether they received the equipment as license audit readiness will depend on this. Contractual work was halted due to the issues with financing which resulted in construction delays. Access to the Silver Arch loan will allow for the resumption of the completion of the facility, which sounds like it should be forthcoming. I agree they are close, but in order to meet their ETA guidance of completion near the end of 2018, they will need to be funded in the next week or two. On their website the NV project is also slated to be done by the end of the year. Short of something miraculous, that is highly implausible. Someone needs to take that off their website as it just makes them look silly or clueless (true?).
I surely hope that I am wrong, but the timeframe is tight for a year end completion, and history is not on management's side. If I was betting, I'd peg it closer to a 2019 Q1 Telkwa completion, Q2 licensing review/audit, and a Q3/Q4 start to harvesting. As far as their other projects, I would expect some sort of other funding arrangement to follow suit with a Q1 Nevada construction start date, and Q2/Q3 license transfer and start to harvest, all depending on funding. California is anyone's guess as they are going through a state-wide emergency due to the wildfires, so MJ is probably low on state or county priorities.
My concern is that they were able to achieve so little and squandered so much cash when their coffers were flush last year. Now, the well is dry and a great deal of capital expenditure and debt obligation awaits in 2019 which will represent major challenges. Since the share price has eroded so much, it also means one avenue of funding has been closed off to them without detrimentally affecting current shareholder value by massive dillution. The best case scenario for everyone is that they can accomplish enough to move the share price >$0.90 as soon as possible. Supporters will be happier, and PP participants exercising warrants can provide added funding which could limit the size and scope of further PP's for 2019.
Either way, my fingers are crossed and I dearly hope that management can prove my timelines wrong by beating expectations.