RE:RE:RE:There was a PPBefore I answer your questions, I want to clarify some things you said first. They don't go to market for cash "from time to time". They go every quarter or two at most and they spend it like drunken sailors. They had literally nothing going on and still burned 700k per month.
But doesn’t that pale in comparison to Canopy who had a treasure chest and they are burning hundreds of millions? I stopped watching Aurora a year ago because they have over billion shares out and have split their stock and well that is just ugly. TGOD pissed through millions, Canttrust pissed through millions and did it illegally, OGI was supposed to be the safer bet at one point and they got caught using pesticides, they spend millions, Hexo (split and millions). MMEN and IAN are another two that spent millions while the CEO(s) got paid. These companies continue to go to the well albeit less frequently than TNY but the cash burn isn’t comparable to 700k in a quarter…that’s peanuts to these other companies. Granted they are smaller but they are also in a built out phase and if you’ve ever done project work, you’ll know that unexpected stuff comes up. Think ‘transformer’ and good knows what less. This tells me they don't plan accordingly and can't manage money.
You are entitled to your opinion here but I have watched many a CEO and his/her management team put companies into the ground in the last 5 years and appreciate that while I am not impressed on various fronts, money management isn’t one of them and neither is the share float that when we hit the growth curve will serve anyone with shares extremely well. Don't compare TNY to other cannabis companies unless you will caveat that with acknowledgement that most if not all pot stocks are up hugely since December while TNY is down 30%.
I use various apps to track stocks and look at this almost on a daily basis when spare time permits. Here are five examples somewhat related to TNY: - Hexo YTD return 69.8%
- Canopy YTD return -0.38%
- Bevcanna YTD return -100.00%
- BellRock Brands YTD return -100.00%
- Aurora YTD return – 17.69%
- TNY YTD return -20.69%
There’s nothing outrageous about where these guys are at, sure $h1t is taking way longer then we would like but down 20% could be erased in an hour on the right news/development. This tells me no one cares about what they do because investors have lost faith in them to execute.
I’m not at the faith no more stage yet but I have and continue to question their collective ability to execute, one of my main pain points is their inability get their THC beverages on shelves in Canada. The unfortunate part is we never have and probably never will get the full story. We get to sit back and piss and moan at the pieces as they unfold for better or worse! Most if not all cannabis companies are also growing in triple digits and bringing in MILLIONS per quarter so their CEO pay is commensurate with performance.
Only argument I would make to that statement is most are also still spending more than their making on top of generous compensation to the C level suite. TNY not necessarily being an exception but a scaled down version. I can only imagine when things take off, assuming they do, what that compensation would look like (outside the renewed share compensation).
Jeff is paying himself comparable wages for simply filling a seat. As for your question of what would make me happy... Jeff needs to go. Period.
Don’t know him personally but have thought at many times he lacks the necessary character to promote the company. Rick on the other hand I buy into and enjoy listening to. Jeff is awkward at best so I understand the sentiment. Secondly, they need to sell drinks at a scale that is expected of a company this size and not my daughter's lemonade stand on a rainy day.
Again we aren’t getting the whole story but for what it is worth the amount produced isn’t being reflected on the balance sheet and the only thing that makes logical sense is they have and continue to give away product on a promotional basis. It’s the only thing that can explain the quantity people have taken photos of and put a price on and I have never seen that show up on any financials. I also believe that Beckett’s is a distraction but I’m not the professional. The fact that they earned 138k last Q is laughable.
Over the years I went back and looked at Monster Energy and a few other companies financials to see what the trajectory is and most of them took between 5-7 years to really get going. It’s tough to see the numbers (fun to make fun of hat sales) but $138k in a quarter is better than they have ever done and if they can improve on that Q/Q then we can’t complain. I think we are still in build out mode, which hurts to say given it’s coming up 5 years being invested in this. Damn slow but to crack $100k should be a no brainer at this point. I figured we would be adding 000’s to that figure by now. I'd like to see a coherent plan be formulated and actually acted upon.
So you don’t like when they put out deadlines or countdowns and miss them either? Extremely reasonable request! They have switched paths so many times that I forgot all the sh!t they promised, which might be their plan all along.
Agreed, it definitely has been a struggle to the point where you have to go back and re-read stuff in their releases, only to then point a finger and ask, why isn’t that done yet and in most cases it’s not even remotely close (timeline wise). Remember their Texas and Louisiana distro? What happened to that?
You talking about the one guy behind the company name with 30 years experience? If so, I figured that was a friend/friend deal to appease someone. I'd like to see them be honest with investors because I've caught them in at least a dozen lies, but that would mean they own up to lying which exposes them to liability. That won't happen.
Sadly you are 100% correct, you’ll never see that, which would help restore some integrity and trust! But it would be nice if they learned from the mistake(s) and didn’t continue to keep making the same ones! I'd like to see them follow through on all their announcements because they have teased a bunch of stuff to investors and never acted on it.
Vegas Expansion, THC drinks in Canada ring any bells? I'd like to never see Jeff behind a camera again because he's cringe and sleazy in interviews.
Public speaking is not his forte. I'd like to see them in Canada because the longer this takes the more other companies fill that hole and the more incompetent fcuk-face looks.
It’s only 10 months overdue at this point but apparently the weather hasn’t warmed up enough yet. Maybe next week! Those are just a few things.
Man, I get it and so do a whole bunch of us here. I’ve taken at least two $5000 losses on this with the silver lining being the offset of capital gains. Enjoy your weekend and thanks for the honesty! MJ1