RE:RE:The buzzards are circlingI have a feeling this recent announcement about debt refinancing is because the company had no money left to operate. And whatever money they just got to operate is only going to keep them above water until they can sell the company in the next month or so.
Even if the license is reinstated tomorrow, they won't have enough money to operate until they have plants harvested for B to B sales, which would be around May or June if they could acquire starting plant material and start growing in the beginning of February. And who knows if they even have any of their grow staff still. They laid off a bunch of employees in December, and maybe more since then that we haven't heard about. They have no plants right now, so if they've kept any grow staff, they're sitting around twiddling their thumbs, costing the company money everyday.
If they lose their license, then their only hope is to sell off their assets and try to operate in the US. That should give them more capital to inject into US operations, but that's only if they don't have a bunch of debt and other expenses. But I wouldn't have much confidence in them succeeding in the US, given that their current American operations are pretty small and not particularly successful at the moment, and they have no leadership to build that. Without everything they had planned in Canada (greenhouse, processing facility etc.) Ascent becomes a pretty lack lustre organization.
I'm pulling out before the ship sinks.