RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:MgwWhy the LOI is significant is that it allows MGW quick access to the state legalized medical and recreational marijuana market upon completion of their facility. We still have not received any clarification on the status of this, since the VP of business development stated that they had begun the NV construction. Clark county is the area surrounding Las Vegas and includes Henderson (where the gow facility is to be built), with a population of approx. 2.2M.
Notable is that:
1) BioNeva, based in Henderson, Nevada, holds a medical cannabis cultivation facility and a Class 5 business license to produce cannabis.
2) to acquire 100% interest of a Clark County, Nevada Medical and Recreational Production Certificates (the “License”) from a private Las Vegas, Nevada based company (the “Vendor”). The Vendor holds one Medical Production Certificate and one Recreational Production Certificate granted by the State of Nevada for the Clark County.
The remaining difficulty is financing and delays are taking their toll on shareholder vallue. With diminishing confidence and interest, we have seen a slide to these basement levels with liquidity waning. The only thing that is going to save it, is meaningful positive news and progress.
To me at this point, it is meaningless even if the share price drops below 10 cents. We all know management has failed miserably by all measure in 2018. The time to sell was months ago, and those left holding the bag can only sit and wait, and wait some more. There is no debating that fact as it's historical. We can only look forward at their prospects and hope that management has learned from 2018 and offer us a glimmer of hope for 2019.