pulverizer wrote: These analysts from Seeking Alpha, Montley Fool, Stock News and more all claiming that a sale of the company is best have no idea what they are talking about.
Health Canada will be delivering it's final answer within days to a few weeks. It will read that they will be suspending the company and recommend revoking the licence given the information.
The words on page 45 of this document is an actual Health Canada letter which will read much the same:
https://documentcentre.eycan.com/eycm_library/Ascent%20Industries%20Corp/English/Motion%20Materials/Initial%20Application/Affidavit%201%20of%20Blair%20Jordan%20sworn%20on%20February%2028,%202019.PDF
Growing in unlicenced areas is the highest infraction of the cannabis act. Just gifting a few grams as incentives to retail stores can lead a sales rep to 6 months jail.
None of these analysts are doing any homework on the regs, contacting Health Canada nor barking up former companies who have been suspended before.
Law suits in USA finish collecting their information by September 9th.
In May Health Canada changed how licences are acquired. Now if you have a facility that is turn-key ready then you submit your evidence package and within 60 days you can have the facility licenced. OR a company can buy this junk, spend hundreds of millions in legal fees and working to "save" the licence and prove compliance.
Any Savvy CEO will look at the assets to see what they are worth BARE BONES. And that is NOT $7 a share.
Also - do note that CannTrust is already suspended. Remember this one?
https://bonify.com/ It says at the top banner "temporarily on hold" yeah. For 7 months so far. Do you remember what they said? They said they "volunteered to stop selling"... yeah... riiiight... cause people do that in a capitalistic society.....
Do some homework, I know you won't and you'll just bash me for stating facts, but if you watch this video:
https://www.bnnbloomberg.ca/commodities/video/other-firms-may-have-cheated-on-cannabis-supply-industry-consultant~1592631 you will see lies and lies and lies. Then fact check it against timelines of suspension, they will show you that they get suspened weeks after this video. He lies that their work to deal with the board was so impressive to HC that things are turning around fast, that they didn't get suspended that they volunteered to stop selling and on and on....
CannTrust is ALREADY PARTIALLY SUSPENEDED. Health Canada has taken their inventory, stopped them from cloning. They are submitting rationales to their agent about daily tasks and what employees are administering those tasks.
Remember Agrima's "record keeping issues" and then all their press releases of new QAP personnel etc.... yeah. Did nothing. Why? Cause the friggen broke the law.
Growing 5000KG+ illegally in 5x50,000sqft rooms is punishable by jail to regular citizens. It's not a slap on the wrist.
HC does not control halting the listing, they do not criminally charge people, they are the regulators. All they do is regulate. They will be suspending this company as early as this Friday.
I have bared witness to this first hand, from the inside. I went down the rabbithole and watched my wealth evaporate, executive board members lie to me that they are winning the case, that they have everything under control, that they wouldn't do this to the workers, the shareholders... pffft. They will do it and it's about to happen.
Every LP that wants to buy this thing will wait for it to die then buy their assets on the auction block for pennies. Shareholders will recoup zero dollars and zero cents and the gamblers will be taught a very very valueable lesson.
Did you see the earnings reports on LABS? Did you see what OILS just announced? There are all kinds of companies DELIVERING RESULTS to the tune of hefty percentage gains with NO RISK.
lol - best of luck gamblers.