RE:Cannabis Reality
helpline88 wrote: Our local Vancouver Province Newspaper today reports that there are three large Cannabis growing facilities for sale in BC. All for sale due to oversupply. These are cultivation and processing facilities. Experts think that potential buyers will only be interested in the facilities, not the cultivation. In addition the article goes on to say at least a dozen mid-sized Cannabis companies have filed for bankruptcy and there are more to come. It is all about industry consolidation. Looks like only the best managed facilities will have a chance at survival.
I don't know what's happening in California. Maybe more of the same?
The problem in Calif. started the day MJ sales began in January 2018. You can blame the layers of high taxes/fees, over-regulation, molasses-like operations & sloth-like employees (w/good bennies & 2 hr lunches) that doomed so many small MJ companies from the get go. Sacramento bureaucrats have no clue & little interest in growing a healthy pro-business economy, especially when you are competing against bigger/special interests, or you or your business has little influence. Sacramento's motto has always been "Always protect the public at the private sector's expense" & "You must always raise taxes in order to raise revenues". Now throw in some horrible management, a "dependent" BOD, no accountability, & now a pandemic, I am surprised we have been able to avoid the auction block this long.
If it weren't for Casey, this rusty ship would've sunk by now, & the recent $ injection at least gives us a small lifeline. Now it's time for Casey to prove his worth...if he can milk that Golden State Banana deal & get that dispensary up & running this year we still have a fighting chance imo. The market has changed significantly in the past year (especially post-pandemic) & consumers increasingly want convenient/safe purchasing options like online ordering, home/business delivery, curbside pick-up, drive-thru, etc. A completed dispensary will be key to unlocking those benefits.
Also, a "real" patent will go a long way towards bringing value to this company & prevent us from being sold for pennies on the dollar. And CannaStrips will never achieve its potential if not properly marketed. This is at least as much a "medicinal" product as it is a recreational one. A JV with the right partner who has an established patient base is key. There will also be a lot of biotechs/Pharma companies looking to partner with an MJ producer as cannabinoids become increasingly validated in clinical trials, get additional FDA approvals & become more of a mainstream/first-line treatment option for multiple medical indications. CBD is currently approved for the treatment of a rare seizure disorder in children. It is currently being studied in multiple trials for multiple indications, including its promising use in fighting cancer. Medical indications/illnesses require superior efficacy, safety & precise dosing...something a CannaStrip can provide.
If Brad is ever out of the picture, Casey & team will be able to focus less on Brad/themselves & deservedly more on serving the needs of the community/patients moving forward. Looks like it's going to be a make or break year.