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AdvisorShares Pure Cannabis ETF C.YOLO


Primary Symbol: YOLO

The investment seeks longterm capital appreciation. The fund is an actively managed exchangetraded fund ETF that seeks to achieve its investment objective by investing under normal circumstances at least 80% of its net assets plus any borrowings for investment purposes in securities of companies that derive at least 50% of their net revenue from the marijuana and hemp business and in derivatives or other instruments that have economic characteristics similar to such securities. It is nondiversified. The fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of companies that derive at least 50% of their net revenue from the marijuana and hemp business and in derivatives or other instruments that have economic characteristics similar to such securities. It is non-diversified.


ARCA:YOLO - Post by User

Comment by bennysauron Mar 02, 2019 11:45pm
82 Views
Post# 29434405

RE:RE:Financial Statement for the period ended on Dec. 31st 2018

RE:RE:Financial Statement for the period ended on Dec. 31st 2018I'm a bit new to the stock and got in after weekend unlimited won the Pot ticker symbol so obviously quite a bit underwater and very much regret getting in. So I do hope that the Q1 results causes the stock to go up on Monday (it would feel like the first time in a month it is up!), although I'm taking the Q1 financial reporting to be negative rather than a positive. I'm not sure I understand what there was to be pleasantly surprised about. This is what I saw (and I'll be e-mailing investor relations as well with my queries): - A loss of 7 cents per share which is HUGE for a penny stock - Of that 7 cents, over 5 cents of it listing expenses, which according to the MD&A was basically the purchase price paid for weekend unlimited which was above and beyond the net assets of OSH. The total purchase price of OSH was 16.8 million so taking a hit of 12.3 million means that the net asset acquired were only 4.5 million! Why did they pay 12.3 million above and beyond the net assets of a company when all the net assets were subsequently sold? doesn't 12.3 million seem like a heck of a lot to pay in a reverse takeover in order to become publicly traded? - Company had no revenues to offset it's 2.5 million dollars worth of expenses. I'm sure the company will begin to generate revenue in Q2, but their expenses will go up significantly as well, especially with all the stock option grants in Q2. Paul Chu anticipated annual revenues for the company based on existing product lines of 25 million. - In September 2018, Weekend unlimited acquired 51% interest in JB Stone for 1.1 million. Just 3 months later, the company is having trouble obtaining accurate financial results from JB stone and are having to write down the asset and report it as discontinued operations!? What kind of due diligence was even done in this acquisition? - Weekend unlimited closed on the acquisition of R&D Pharma in February 2019 for 80 million shares. I e-mailed investor relations on this, but I don't understand why 80 million shares were issued when previous reports indicated that the acquisition would only cost 50 million shares (and when shares were trading at a much lower price). https://www.accesswire.com/526844/Weekend-Unlimited-Inc-to-Acquire-RD-Pharma-In-Jamaica. Anyone know why? Not wanting to take a large hit on my investment (although I am tempted to do so) I'll hold on to the share and see what the financial statements will look like if and when the company produces 250 million in revenues..... On a more of a positive note, I do think all the recent news issued by the company (and it is great that they provide us with regular updates) are positive announcements, including the acquisition of R&D pharma, the opening and feedback received from the Northern Lights grant opening, the Canna candies contract, the Oklahoma acquisition, and the US listing. Hopefully all of the positive news is a sign of things to come under Paul Chu's leadership, and all the bad news I am seeing in Q1 and prior was from bad decision making from the old CEO.
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