RE:RE:Everyone on this board is suspicious. Nice Straw Man Jeff and not sure that I care who larry is. BTW people buying companies for far more than they are actually worth isn't that uncommon. Additionally not sure why this is even a relevant topic as they have more or less admitted that in the MD&A on May 6th.
For the year ended December 31, 2019 the Company recognized goodwill impairment losses of $10,800,000 for the Oregon Retail segment relating to the Chalice Farms acquisition, $5,541,547 of goodwill and $860,000 of intangibles for the Oregon Wholesale segment relating to the Chalice Farms acquisition, and $1,323,900 and $210,371 of goodwill and intangibles respectively for the Nevada Wholesale segment. $16.3M of the total impairment to goodwill and intangible assets of $18.7M relates to the assets of Chalice Farms. The Company believes these impairment charges are the result of excessive valuation upon acquisition and notes that as of the date of this report the performance of its retail segment has never been better. These impairment charges should not be seen as an indicator of poor performance, but rather excessive consideration paid relative to current valuations.
Ask yourself how this company got such a high evaluation to begin with when they had 0 assets?
Ok previous management was terrible, not really difficult to answer.
Now more importanly Jeff ask yourself if you had known this, why are you still here? What could possibly be in it for you?
SlyestFox wrote:
lol ok. Ask who larry martin is... ask the company about the audit on chalice farms. Ask yourself how this company got such a high evaluation to begin with when they had 0 assets....