Very disappointed.I've read through the release several times this morning. Needless to say, I am quite disappointed in the "word-sleuthing" STILL going on. More, "here's what's on the white board for next moves" and no definitive results, timeframes or quantities.
On one hand I get that some of that information remains in the board room for competative reasons and legal mumbo-jumbo but there needs to be a stronger stance taken moving forward. I've been in the corporate environment and I've been on a high-level sales team. There ARE always forecasts to be given, monitored and reported upon. There are quotas, targets, sales growth expectations and so forth in ANY sales based organization. Unless Tinley is still "formulating the proof of concept" its time they start opening up the books a bit in their choice of wording.
Some examples:
We have fullfilled the re-stocking program necessitated by the legislative changes to labeling. While the $200,000 back-order that these changes casued will not show up as one reported revenue sum it has been sucessfully filled and will be reflected in various months throughout the 2nd and 3rd quarter. We are also pleased to report that our Coachella Valley facility is running an average throughput of 25,000 (or whatever the number is) per week to keep up with reorders that our back-order and sales sample runs created. This exciting trend further proves we have the right products in the right stores. We will continue to rely on Rick Gillis' direct sales expertise to grow and expand throughout California's dispensaries and consumption lounges.
We have developed formulation for TWO co-packing clients. While the details and legal commitment are still being finalized the current conversations confirm our previous notion that co-packing will present opportunities for significant revenue. In the case of these two clients, 50% (or whatever the number is) of our bottling capcity would be utilized by their products. Coachella can certainly handle this volume alongside Tinley's beverage suite but this revenue opportunity further illustrates the importance of the Long Beach facility's capacity and completion.
The Long Beach facility's completion and licensing is moving along well. We are pleased with the completion pace and confirm that it is weeks away from build-out. Completion and final submission for licensing are waiting on the following:
A)
B)
C)
etc.
Tinley expects these items to be resolved by August 30. At that time, we will confirm with the market that this timeline was reached and provide a similar update on what is required and the progress of such from a licensing stand-point.
Anyone notice a difference from my amateur wording versus the "official" update???!
Of course, if I've completely missed the mark here I'm always receptive to constructive conversation or likemindeness.
Cheers,
djgt