The Good And The Bad - Added Price to Book Value RatioJust bumping a few posts with content that I think I would want to read if I were considering buying or selling 48North.
Added Current Price to Book Value Ratio:
Last Q Common
Shares O/S | Last Q Total Assets | Last Q Total Liabilities | Last Q Total Book Value | Last Q Total Book Value Per Share | Price to Book Value Ratio |
| 170,886,799 | $99,237,470 | $8,332,257 | $90,905,213 | $0.53 | 0.70 |
What is the price to book ratio? - MoneyWeek Investment Tutorials https://cannabisdaily.today/wp-content/uploads/2019/11/Weed-Stock-Market-Caps-Comparison-by-Cash-Reserves-November-26th-2019.pdf https://research.viiicapital.com/Reports/Research/2019/November/NRTH112719.pdf https://grizzle.com/48north-nrth-fiscal-q1-2020-report/ https://www.profitconfidential.com/stock/48north-cannabis-stock/48north-cannabis-corp-poised-massive-growth-strong-outlook-strategic-u-s-expansion/ greenalyst wrote: Last questions of the day from me:
1. How long does it take to analyze a sample. They apparently have 12k kgs dried right? Is it a chromatograph or an electron microscope or a gel blot? Most labs could do such things in 1-2 days no?
2. Don't u think their first question after how much would have been what's content and quality?
3. Are u therefore not concerned that after an 'apparent licensing loss' of 75% of the crop that not only did they not tell us anything about content/quality, to the contrary they made a specific point of saying they DIDN'T know? Why? Laziness? Incompetence? ... or are they waiting for repeated tests because the answer the first time around was concerning? I realize the answer is WE SIMPLY DO NOT KNOW but...
4. In lieu of the the drying debaucle and deception don't u think they would recognize the importance of providing shareholders with this info in as timely a manner as possible and if not possible explain why and when we will know? So maybe it's as simple as it's not ready for analysis. TELL US THAT! When you have a baby the first question is boy or girl? The second is healthy? Management has said we don't know and we don't know.
This ultimately speaks to the loss of credibility. We can't trust or assume anything. Before we tolerated the stupid instagrams and the silly sackville angle because we trusted. Now that is gone. Financials are all they have until further clarification and that is important in this industry but cash burns fast in a failing business model. The loss of their head start was a big trip out of the blocks and they are a silly small company; you don't see any real media outlet or analyst covering what happened with the harvest (like canntrust)
So, they are still failing to meet what I expect as a shareholder; required or not. I am left wondering if I am getting left in the dust on a failed venture. Only time will tell. And I am helpless to do anything else.
GLTA
ILIKETA wrote: - Canopy owns a percentage of 48North shares
- Canopy bought 48North dried cannabis
- Alan Gertner now on 48North BODs
- 48North has $90M in assets including lots of cash
- 48North has a ~$60M Market Cap
- Insiders increasing percentage of ownership
- Share price driven down 80% off its highs
- Upcoming AGM (12/19/19)
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- Alan Gertner has been appointed to the Company's Board of Directors.
o Before joining Canopy, Alan founded Hiku ("
Tokyo Smoke") a cannabis brand and retailer that
was acquired by Canopy for $600 million .
https://finance.yahoo.com/news/48north-announces-appointment-industry-veteran-120000301.html?.tsrc=rss ********************************************************************************************
- Dec 03, 2018 - 48North Cannabis Corp. ("
48North") (TSXV:
NRTH) announced today that it has entered into two agreements with Canopy Growth Corporation
o 48North will supply Canopy Growth with dried cannabis
o
Canopy will invest $3 million into 48North and receive 4,000,000 Common Units
o The Supply Agreement further states that Canopy Growth will work with 48North on a non-binding but best-effort basis to establish a national retail presence for its products in
Tokyo Smoke and Tweed stores.
https://www.newswire.ca/news-releases/48north-announces-equity-investment-supply-deal-and-strategic-partnership-with-canopy-growth-701772222.html ********************************************************************************************
At Sept 30th 2019
| | | | Current Market Cap |
| Common shares | 170,886,799 | $ 0.37 | $ 62,373,682 |
| Total assets | $ 99,237,470.00 | (includes Cash and cash equivalents $40,392,298, Biological assets $10,697,201, Inventory $6,726,177, Property, plant and equipment, net $23,008,840, etc) |
| Total liabilities | $ 8,332,257.00 | |
| Total shareholders’ equity | $ 90,905,213.00 | |
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Caland, Pierre - 3 - 10% Security Holder of Issuer – Balance = 15,336,145 shares
A lot of voting power for this insider. What would he stand to make with a buyout?
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Anyway... Just putting it out there as a possibility.
| Recent filings |
| Filed 2019-11-29 09:43 Tx date 2019-11-29 | $NRTH
48North Cannabis Corp. | Caland, Pierre 3 - 10% Security Holder of Issuer Holder: Wallington Investment Holdings Ltd. (Control or Direction) | Common Shares 10 - Acquisition or disposition in the public market | $86,825
+250,000 vol
$0.3473 each | 15,336,145 | |
| Filed 2019-11-28 11:22 Tx date 2019-11-27 | $NRTH
48North Cannabis Corp. | Caland, Pierre 3 - 10% Security Holder of Issuer Holder: Wallington Investment Holdings Ltd. (Control or Direction) | Common Shares 10 - Acquisition or disposition in the public market | $90,103.20
+264,000 vol
$0.3413 each | 15,086,145 |