RE:RE:RE:RE:Hows that Australia project coming along...?I most deifntiely try to use facts, sedar reports, and past track records when forming my opinions. I think ive made that clear with my posts. There is of course some speculation/projection needed.
1- HC licenses - Off the top of my head, PUF submitted their confirmation of readiness in Feb, two months after MYM. There are undoubtedly more. HC also issues license on Fridays (and seldomly Tuesdays) so we have a good idea when they are approved, within a week or so of publishing?
2- MYM has been aorund for 4+ years and still has nothing. That is a red flag.
3- Long term loan sheets, I would be all for. Limits dilution and equity distribution. When you say its all conditional, I think that helps my point. Its all looking to future, nothing concrete and tangible in the here and now. Thats the MYM way.
4- Alumina - You keep moving the goal posts. I didnt bring up who the partners were. Only that they have issued term sheets nearing half a billion dollars. Kios, Cellcube, Matica, THC, Alliance growers, BE to name a few) Again, as you point out this may all be contional on MYM receiving its LP. Which is speculation, and judging by their past record, doesnt bode well.
5- "Prepaid construction costs do not appear on the liabilities side of the balance sheet. They are shown as assets and then expensed on the P & L when the costs are actually incurred. Accounting 101. Oh, what does MYM have listed under Current Assets on its Aug. 31, 2018 Balance Sheet? Deposits and Prepaid Expenses. Imagine that."
what do you want me to say to this? Assets = Liabilities + Owners equity lol. The 2.7 million is in account payable, and as of Aug31st they had a deficit of 12 million, with no revenue coming in, and expenses piling up.
6- the laval facility. My mistake Paltry, not poultry. Again, really man? The Laval operation is 10k sq feet, THATS IT. with no license, and will cost 25million to expand to their desired 18k.
7- Now you liken some buffalo bills owner, blah blah. And your telling me to bring relevant facts. MYM has played musical chairs with directors, and thats not a good sign.
8- Failed Maple ridge faciltity. Yup I knew about this, Ive been talking to it for well over a year. It didnt bother me, as the industry was emerging, and mistakes will be made. I could live with that. Fast forward 3 years, and they still dont have an operational facitlty. Now I start to see red flags. Theyve deregistered Solaris, and suspended all revenue streams. Red flags.
9- Sunmark. Again, as you say this is most likely conditional? Doesnt that help prove my point? Everything is conditional, nothing concrete, nothing tangible. Always future potential. At some point they have to make future projections a reality to be successful, no?
10 - Yes, Laval was supposed to be up and growing in 2018. Why did that not happen? Could it be that it's illegal to grown cannabis without licences? Who has the most influence in the licence application process? HC not MYM. Is HC behind in getting licences issued? Yes and by the the government's own admission. So why blame current MYM mgmt for something so obviously beyond their control? - Really, they arent growing because it illegal. Shock me in the ballsack. MYM doesnt control getting themsleves a license? shocking. Weve seen countless others approved, submitting their confrimation of readiness after MYM. Red flags!
I honestly try to bring facts:
- Suspended revenue streams from Dr Furbaby, HempMed, JOshua tree. Companies they bought using shareholders money.
- Maple ridge facility failed
- Solaris partenrship fialed, municipal government withdrew support
- Sherbrooke college partnerhsip? A 64k cheque cut to the college and a fluff news release. (see Aphria scam)
- Columbia partnership? Whats coming of that? (see aphria scam)
- Laval sitting in limbo for over a year, and one of the smallest of any LP applications to date
- Deficit of 12 million
- Weedon , behind schedule, no CURRENT funding to buildout more than 30k sq feet. This is supposed to be a 1.2 million sq ft faciltity, with first projections having phase 2 done last year at 300k sq ft. They have framework done, thats it. A year behind schedule and no funds to complete. How is this not a red flag? or atleast somewhat concerning?
Youve been adamantly defendign them for over a year, seeing their shareprice decline 90%, while in that time frame weve seen nothing on Laval, Weedon wayyy behind schedule, government support withdrawn in Australia, etc. Look at their progress compared ot tothers in the industry. Look at the news releases they put out in comparison to other successful companies. How you can not have concerns is beyond me.