007 - argument Verygood007. I'm interested to hear why you think management is so bad. You've been saying it for months now. But please enlighten us. Heres why I think they have done rather well.
1. The oversubscribed raise they did for 40+ million several months ago. As you can see with companies like ZENA and HEXO who are both scrambling to try and raise funds. The investment dollars have all but dried up in this industry. Management saw this coming and capitalized while we we're trading almost double what we are now only 4 months ago.
2. The company announcing positive earnings this past quarter. A feat almost no LP's (aside from maybe 2 or 3) have been able to acheive. This is aside from the fact that they sold unused land assets for an additional 8.2 million (which is not part of the positive earnings)
3. Planting the outdoor crop in a matter of days, and now harvesting said crop (which even at $0.50 a gram will bolster the companies bottom line by at least 100%). Whilst also providing the feed for the recently completed phase 2 (pending HC approval). The synergies acheived from the Emblem deal cannot be overstated.
4. Completing its major construction and having the facilities grow ready and pending HC approval. A feat many LP's are also struggling with, and some even deffering completion of their massive facilities due to the current legal demand. Demand will come in due time, Canadians love their weed, and once more locations open up in the bigger provinces the industry will continue its growth. After all, we're only 1 year in, and August saw 18% growth across the sector. If we're profitable at our current trajectory, that means its a matter of scaling sales once our greenhouse comes online. Which I happen to like, because it isnt massive. We payed a small fraction of what some of these LP's have invested into their facilities, and are in a grow ready state. We didnt try and scale to the moon before we had a viable business case. Again, I will requote my last write up. While other LP's we're racing to scale, Aleafia was scaling to race.
5. And lastly, seeing the oversupply issue coming down the pipeline and acting on the Aphria deal. Even if we we're getting good pricing, why struggle to sell someone elses product when we can make higher margins selling our own?