OTCPK:SPLID - Post by User
Comment by
420manon Dec 10, 2019 7:06pm
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Post# 30441813
RE:Plus Product Q3
RE:Plus Product Q3 concentration risk on page 22 md&a. Bitter beer goggles on & why I sold : Company basically out of $, will need a raise ASAP and who will give them money especially after last raise needed to be family and friends. And with their track record . Have debt and more liabilities than assets. Negative working cap etc . Not good. No cash to close GT , maybe not enough cash to finish build out of Fli labs NorCal. Basically standstill in Oregon with the whole lawsuit or action against them for denatured alcohol. Washington is a nothing . Cash burn on salaries and general operating expenses will probably be higher than whatever revs are left. A bunch of bad deals only calyx was a success. Hundreds of thousands to companies run by insiders for 'consulting' , consulting on what? how to dilute and screw shareholders ? Basically if they sell assets they make some $ but not enough to cover liabilities / debt . Will need a raise eventually if not then maybe Bankrupt?
alas, GLTA hope it is the comeback kid of cannabis plays. Can't believe lineage grow and xanthic biopharm got bought out during the good days and not eat. What a disaster and stressful couple of years
Double edged sword selling . Relief and a painful reality combined. Will be hard to see if it does pop and succeed in the next while .
GL happy holidays .