RE:RE:RE:Interior Construction a Big ZeroEverything is at a standstill now.
Gamblers thinking a buy at these levels is a great deal are making a huge mistake. Like the sale of OK Falls is going to rectify everything. No it won't.
Look at the cash balance (probably zero or negative right now, it was just $304,000 over 2 months ago!).
Whatever they get out of the OK Falls sale will first go to pay the mortgage, default amounts and payments toward promissory note holders (read the company press release). Each passing day is a cash drian deeper and deeper.
CannPharmaRX has to know this and they are dragging this sale out. They have done so over may months now. Heck, they themselves do NOT have the money and are begging lenders to loan them the amount.
Lenders are unwilling in Canada due to the bad market conditions and oversupply issues.
So even if CannPharmaRX wants to pay 16 million, they simply cannot. CannPharmaRX has pretty much zero cash in hand themselves.
Most importantly, OK Falls is just a piece of land (granted Sunniva dug up and laid some foundation but that is uselless at this point) and no one in their right frame of mind would pay 16 million for a piece of land that is worth 7 million.
And the other big thing is the dispute by Barker. He is circling the Glasshouse like a vulture.
Someone quoted price to sales ratios and asset values. They are wrong. They are forgetting the LIABILITIES. Sunniva has a lot of paymets to make and pretty much zero cash. No revenues. Any "good" news about OK Falls sales will be short lived and pounced upon by short sellers trying to take advantage of the "great deal at these levels" buyers.
I have been right about Sunniva all along. Unfortunately, the only thing I have been wrong about was to invest in this company.
Mac2676 wrote: Its all enclosed and they have made progress however nothing appears to have been done inside yet. If the landlord is essentially suing them it's not likely anything further will happen. I hope the contractors are at least getting paid. It would be bummer to get shafted at this time of the year.