RE:RE:Facility buildout completedTheir cash increased from last quarter. If only that scum would pay back the money owed before financing $500,000 at 10 cents. JM diluted tge company 1 million extra shares. P.O.S and no AGM meeting throw him out
KelownaClown wrote: Petespipe wrote: Looking like THC Biomed is all profits from here on. If they phase out selling dried product and just sell 100% edibles this company will succeed. It's been proven by the bigger companies that have not shown any profits while downsizing and still failing as cannabis prices keep dropping. THC Biomed is one of the only producers able to make full spectrum edibles at the lowest cost resulting in lower prices. Next Quarter will grow substantially in net profit. Growing pains are in the past, good luck
Dude, you are absolutely dreaming. You've cherry-picked a couple of comments and ignored the really important stuff. Look at the mortgages they have to pay monthly, the re-negotiated loans.
How about this statement:
The Company’s expected source of cash flow in the upcoming year will be through sales and debt or equity
financing. Cash on hand at October 31, 2021 and expected cash flows for the next 12 months are not sufficient
to fund the Company’s ongoing operational and expansion needs. The Company will need funding through
equity or debt financing, entering into joint venture agreements, or a combination thereof.
Or this statement: LIQUIDITY
The Company does not have positive cash flow from operations; accordingly, it must rely on equity financing
and debt to fund operations.
The Company’s current liabilities total $5,035,152 (July 31, 2021 - $5,968,492) is comprised of accounts
payable and accrued liabilities of $2,700,184 (July 31, 2021 - $3,041,464); commercial operating loan of
$471,820 (July 31, 2021 - $486,004); current portion of the mortgages payable of $1,036,217 (July 31, 2021 -
$1,482,368); current portion of other liabilities being the right-of-use leases of $150,835 (July 31, 2021 -
$167,104); and convertible debentures payable of $676,096 (July 31, 2021 - $791,552).
As of the date of this MD&A, the Company has insufficient working capital to meet its ongoing financial
obligations for the coming year.