OTCPK:SPLID - Post by User
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LiquidOctopusV2on Aug 06, 2019 9:01am
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Post# 29996783
RE:RE:RE:Financially, they aren't
RE:RE:RE:Financially, they aren't We should try to figure out what the waterfront in California Distribution is as a community. I don't have an exact measure, but I'm pretty sure EAT owns the fastest growing distribution company in California. I know Origin House didn't have a hot quarter and EAT has surpassed what OH was last September but the field is still wide open. And, I beleive the company's claim that they are the largest distributor of edibles. It would be good to try to figure this out.
You've mentioned more ambitious companies lots but I'm not really seeing direct competitors for EAT who are threating to eat EAT's lunch. You can't fault EAT for a lack of ambition. I think your long standing criticism about the lack of focus was justified (we'll see if it still is, read new managment), but they're as ambitious as a James Bond villian. They've tried to establish operations in literally every market over the past 2 years. And they've done so but it's telling that 95% of the successes have been in California, where their REAL operational focus clearly has been. And now they've said explicitly that California and Nevada are their focus. And, they've obviously pulled back in Oregon. It's more than just words.
I'm sure a buyout is something that the management would strongly consider. I hope so too.
And what EAT did was not nearly as a bad as what CannTrust did.
geodcan wrote: I see dilution and increase in sharefloat. Shareholders pay for that. It is about cash burn and return on investment as well as how possible new investors percieve our execution. It is hard to guage what good things are happeing for EAT in California unless you compare to other companies in the same business who seem to be marketing their products and increasing consumer interest which is what I watch for.
EAT has been at it for awhile now and our shareholders aren't seeing much future value, judging from our shareprice. EAT had a good idea at the beginning to do edibles and then wandered off the track. Piggybacking on everybody else's success has me looking at who is doing the real lifting, and wanting to move my investment over there.
We still have a listing, some quality oil, a half dozen product lines and the hope that somebody that wants to move a little quicker, will rush in waving cash. Barring that, we could still get the US greenrush lift when the Feds get on the same page as the States.
As far as Colorado, it seems that we are crawling our way out of the shytpile endrun that management tryed to pull off in regards to residency, which rankled of the same stench as CannTrust management got caught on.
glta and dyodd