Earnings projectionI hope I am wrong, but my gut tells me there will be some bad news in the upcoming financials. I will explain why.
The mere fact of releasing financials so close to the AGM is not only suspicious but it is wrong in my opinion. The purpose of the AGM, among other things, is to appoint directors and vote on motions including executive compensation plans. Shareholders like us are expected to vote on these motions and management is hoping for our support to pass these motions. In order to vote properly, we need time to analyze the results of the company and make an informed decision. Releasing the last quarter financials on or near the date of the AGM kills the opportunity to perform quality analysis of the results. Large public companies will hold their AGMs MONTHS after the release of their Q4 results, not hours. Why then is OGI delaying the release of the Q4 financials? They never disclosed why. My only conclusion is that there is negative news that they don’t want to share publically too far in advance of the meeting. While they have been more transparent this past year, they have a history of playing that way as you know.
I could be completely wrong in my thinking, and I hope I am but I can’t get this possibility out of my brain.
Fingers crossed that I am wrong!