RE:Possible delays over valuation ?You may be right gatekeeper3. In my only email from the company, the evaluation report being done by AREV was already 2 weeks late. And as you say, these things take time and are often not something you can identify a completion date for.
AREV had mentioned a completion date of June 1 for the initial evaluations of two companies in CA which we know is now 6 1/2 weeks past. It would be nice to get an update from the company but it is clear they don't communicate well with their shareholders. I think the IR is non existent. I sent an email to what was listed as their IR and got nothing in reply.
Do they have the personnel in this company to succeed? I don't know. Can AREV compete with the cannabis companies currently out there. I don't know.
So just a wait and see situation. I had been told that AREV was 3 to 4 months behind in reaching their revenue targets and I don't know whether that estimation by the company has increased in time. I doubt there will be any revenue in 2019.
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The pre-revenue company is forging ahead with its plans to move from a research and development phase to secure licenses for its various businesses.
Management is bullish on the future, with Arev’s team now forecasting that its total revenue will hit C$15.5 million in 2019; C$66.7 million in 2020; and C$87.2 million in 2021.
It intends to work with licensed producers to take advantage of its 28 acre Sorrento property as a breeding, cultivation and processing facility.
It also wants to push ahead with its work on creating custom cannabis strains for clients from its BC location. Also on the agenda is more extraction work with Arev looking to cultivate hops as well as therapeutic plants for extraction and the formulation of natural health products and supplements.
Market forecasts project that demand for cannabis will hit C$4.9 billion to C$8.7 billion in Canada.
What the boss says
“Once we get the licenses in place, we can start selling everything that we’ve acquired and you’ll see significant revenue growth,” concludes Withrow.
“I work for the shareholders and I’m there to make money for the shareholders and I believe we can do that by implementing the strategy that we have."
The pre-revenue company is forging ahead with its plans to move from a research and development phase to secure licenses for its various businesses.
Management is bullish on the future, with Arev’s team now forecasting that its total revenue will hit C$15.5 million in 2019; C$66.7 million in 2020; and C$87.2 million in 2021.
It intends to work with licensed producers to take advantage of its 28 acre Sorrento property as a breeding, cultivation and processing facility.
It also wants to push ahead with its work on creating custom cannabis strains for clients from its BC location. Also on the agenda is more extraction work with Arev looking to cultivate hops as well as therapeutic plants for extraction and the formulation of natural health products and supplements.
Market forecasts project that demand for cannabis will hit C$4.9 billion to C$8.7 billion in Canada.
What the boss says
“Once we get the licenses in place, we can start selling everything that we’ve acquired and you’ll see significant revenue growth,” concludes Withrow.
“I work for the shareholders and I’m there to make money for the shareholders and I believe we can do that by implementing the strategy that we have."
Read more at https://stockhouse.com/companies/bullboard?symbol=c.arev&postid=29783993#WQqH2bjZFHARKbGy.99