My Thoughts On Where The Stock Is At I posted this earlier on CEO.ca, but for anyone who is interested:
"I would love an update on J.V. with Benchmark. I don’t know what’s stalling it. I do know that the company is focusing heavily on U.S. operations, which is a smart move, given the size of the market and the fact they already have CBD products in production there. Let me be frank, it’s no secret the company is low on cash, and another PP would be daunting in this sector given its bearishness the past year. If I had to make an educated guess, given the facts of where the company is in its development and what assets/cash they have on hand, and where the market is at, I would bet money they are cutting back on unnecessary costs and focusing their attention on getting to profitability ASAP before they run out of cash. That means cutting costs, running a skeleton crew, stalling agreements that would require significant investment from both parties. U.S. operations are the fastest way to reach profitability at the moment, and if I was Rodney I would be focusing on getting those operations running at maximum capacity. If that’s what is going on here, and I’m betting money it is, it makes sense that everything else is on the back burner. Stock price aside, I like the approach management is taking here. They are making the correct decision in focusing south of the border given the situation they are in. And a big part of that is the bearishness of the sector right now. East stock price has been punished way more than it deserves."
I am still buying down here at 3 cents. Looking forward to, and cautiously optimistic about next quarterly financials. Look to see growth in revenues from U.S. operations, and continued growth from Sangsters franchise here in Canada.