TSXV:RLV.H - Post by User
Post by
AlwaysSkepticalon Apr 26, 2021 8:36am
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Post# 33065407
The problem with RLV
The problem with RLVIn order of importance :
1. It has burned through every penny of cash it has raised, and owes millions that it was unable to pay on time;
- Where is the next pile of cash coming from? Share dilution
2. It has destroyed the one business it has: Bioganix revenues down 90% from peak.
3. It has failed to deliver on anything since that acquisition in 2017.
- Blockchain
- acquisitions (Cannakids, Weedsense...)
- new product launches (omega 7, walmart, hand sanitizer, push-pull....)
- Biocannabix spinoff
4. It has paid out millions in consulting fees to its CEO and his friends, with nothing to show for it.
5. It continues to lose millions annually, with no end in sight and no tangible book of business in almost 300 days.
PS: There are very few shares shorted versus the 200+ million shares outstanding. Shorts aren't the issue: chronic mismanagement and lack of a vision are why this stock is at 2.5 cents.