iPhilanthropic wrote: All great questions.
First off, I apologize for being quick to say that you’re bashing. Your response confirms that you took the time to read the recent MD&As and that’s gotta be worth something to the other members as well.
Anyway... here we go: “How do we get out of this...”
1) if we owe Auxly 6.4M? Other creditors $2.9M? We actually owe Auxly $6,445,844. The debt was accumulated through the
DOPE Note, which grants Beleave funding through Auxly of up to $10,000,000 in exchange for repayment of the debt through cannabis sales at any of Beleave’s facilities. Auxly accused Beleave recently of being in violation, but Beleave stated that Auxly was wrong, implying that they are not only upholding their end of the DOPE Note and don’t need to pay it back immediately, but that they also have $3.5 MILLION in addition funding available to them, should they choose to tap into it, since the deal has not been proven to be in breach, Auxly must still provide the remaining funding. This is important, readily-available capital for the small company’s final expansion projects as we approach breakeven, which leads to the next point...
2) if we have losses at our current capacity? Watch the most recent interview on Midas Letter. The CEO states we are approaching breakeven (Early 2020). This is such an important milestone for any business as it becomes
self-sustaining. Our depreciation depletes and our debt gets paid through profit. We are not the first company to go through this startup cycle, we’re just doing it in an infant aged industry.
3) and if we need money to complete Hamilton? $9,000,000 in funding coming from the sale of London and Saskatchewan.
$3,500,000 in funding available through the DOPE Note.
For all of your further questions pertaining to our path to profitability, I implore you to watch the Midas Letter interview, read recent and past articles, and view the company's June 2019 presentation.
Happy Humpday & always do your due diligence.
iP.
Wallhalla wrote: Thank you for your respectful dialogue. My comments about bankruptcy relate to the financial statements. If we owe Auxly $6.4 million, and owe other creditors $2.9 million, but only have a few hundred thousand dollars in the bank, losses at our current capacity and need money to complete Hamilton (which we have not been able to obtain), then how do we get out of this?
The answer cannot be "we sold London and Saskatchewan" because we will only net $2.5 million, plus $2 million from the sale of the Saskatchewan retail license, leaving us at least $4.9 million short (without the funds required to finish Hamilton or London).
It would be great to hear the company's plan but we've heard nothing, which just adds to my concern. What is the plan? What is our path to profitability?
Sorry if my tone sounds alarmist, but I have a lot riding on this and have reached the end of my rope in terms of patience to the point I can no longer wait and hope, especially after all the let downs we've had with this company.
iPhilanthropic wrote: Hi Wallhalla,
I tend to agree with you on some concerns pertaining to the company’s progress; or slower, lack thereof. Many other MJ small caps who’ve been around for a year or two are already seeing sales in the millions so it’s frustrating to see another quarter from Beleave, who’s been around for much longer, under one million in quarterly sales.
With that said, we (Beleave) are still growing, still selling and still expanding our product offering; when your online comments try to spread fear by stating “going bankrupt” without any supporting evidence , you’re going to be labeled a
BASHER as you’ve seen from other members.
At the end of the day, you are free to post what you’d like, but most of us have been here long enough that if your intent is just to spread negativity, it’s really doing nothing, and is definitely not motivating anyone to buy or sell.
Happy trading everyone,
iP.
Wallhalla wrote: Can you honestly say things have been going well for Beleave and we should stay the course?
There are a lot of people like myself who have our savings tied up with the company and care about its future.
I beleive there is a future for this company, but we need to get over some serious hurdles.
I'm sure there are a lot of smart people on this bullboard. Let's have a respectful, discussion so so we can all benefit.
I will not be repsonding to your insults in the future, but welcome anything useful you can contribute.
Stalkhouse wrote: Psssst...ur "investor" facade is gone...you're basher is showing...abort abort...then again maybe you singlehandedly caused the trades today...all $25k of them big shooter...as if...bahahahahaaaaaa