RE:RE:In my honest opinion...They do need the money, as seen below:
"The Company intends to use the net proceeds of the Offering for the procurement and delivery of its cannabis products to various provincial markets nationally, for the partial repayment of principal and interest on a senior secured convertible note of the Company, for general and administrative expenses and for working capital and general corporate purposes."
What is highlighted in yellow is where they went wrong and why they need to be told that investors money is what allows them to lead a good life while fulfilling their passions for the company. The way this should have been written is -
"The Company intends to use the majority of net proceeds of the Offering for the procurement and delivery of its cannabis products to various provincial markets nationally and the remaining portion for general and administrative expenses and for working capital and general corporate purposes.
By stating the fact this offering is paying off "principal and interest" on a 5% debenture is a slap in the face. We are implementaing a share offering at a 20%+ discount to market price + 8.0% cash commission and 8.0% broker warrants to pay interest on a 5% debenture.
I have complete faith in the technology, the product and the team (in general) but if you are to become a publically traded entity you have to be accountable for your actions.
I have completed extensive due diligence on multiple cannabis companies over the years. Nextleaf is the one and only that I feel is well run, has a good managment team, has built the company prudently, has great potential, is the reason why I am invested and remain invested here.
There are now 25 paid employees, a board of paid directors and paid consultants we deserve better for our investment dollars and I will hold you to it.
Smarten up.