PINL:HERTF - Post by User
Comment by
inviolablspiriton Feb 01, 2021 5:45pm
199 Views
Post# 32440740
RE:CANN
RE:CANNCertainly not that excited about the after hours news release. However, you need money to make money.
"The Company intends to use the net proceeds of the Offering to purchase additional biomass, packaging materials and equipment, product development and for working capital and general corporate purposes."
I assume the company may be getting more orders and potential future orders than they can currently handle. Hey, if Clint can turn whatever the cash raise is into a 5-10x revenue increase for the company, than it's worth it!
Clint clearly knows that this news was not going to go over well with the shareholders which is why it is an after hours news release, so as to give people time to cool down. I certainly would like a more detailed explanation to this news release and it's benefits for the company.