Medmen Enterprises Inc MMNFQ

RE:RE:Medmen Announces Layoffs, Divestment of Assets

[JesseB]

Well, according to their NR the annual SGA will drop from 132 to 85mm (not cut 80mm/quater). 10mm will come from layoffs, and 20mm from marketing and technology. So that leaves about 15mm ANUALLY that they didnt really allude to.

Bigchungus wrote: Let the - DIVESTMENTS OF ASSETS BEGIN! - Gotham isn’t investing another penny in the short term. Instead is forcing sale of MMEN assets for the company to stay afloat. 

Unfortunately for MMEN “EVEN THE SALE OF 50MM IN REAL ESTATE WITH A LONG TERM LEASE BACKS DO NOT WORK” This is only a temporary bandaid which will likely get them by another quarter prolonging receivership.

6 months from now there’s a high probability we will see these clowns stepping down from there positions and go into hiding W/O MMEN appointed bodyguards or family security 24/7 

Even Gotham appointed, independent board of directors can’t fix “how far gone” this company has willingly taken upon themselves to drive shareholders money into the dirt.

Only via receivership will Gotham recoup the substantial investment made “Gotham is fully aware of  this” Every last one of you bag holders are “in real time” LIVING “THE TIPPING POINT”

Your fair warning was Wednesday. I cut a 50k MMEN loss, I’m not thrilled, but far better than my shirt. 

The fallout out across the industry is going to be astronomical.

Prepare yourself for following shockwaves. 

Not a good time to be owning any cannabis stocks.

BTW - Laying off 80 employees saves approximately 4mm USD annually or 1mm per quarter. 
How do you shake the other (per quarter) 80 million dollar monkey off your back.

Good luck to all.