Down not outCannabis industry as a whole has been in bear market for many months. Most people commenting here are assuming that TGIF is permanently stuck or declining, that revenues/growth will not improve going forward. That as the company exists today, there will be insufficient cash to redeem debs. Sure, if nothing changes, that's quite possible.
Management, in past two Q's, states otherwise. They have cut costs to the bone; were a whisker away from positive EBIDTA in this latest Q; and, if you accept their word, they will be profitable in 2022. Being relatively small and forward looking the company has been able to adjust to new market conditions. Clearly, market has lost confidence, as it has in so many other pot companies, and pummeled sp of other companies. Still, I see tremendous progress re: financials compared to a year ago. While Q results disappointed investors, expectations were not realistic. Rosen, he's no messiah. He is however an astute businessman. Has done a helluva job turning around operations. But not being a messiah, he doesn't control all business conditions. All he can do is plan, strategize, implement, and believe that his path will in fact lead to profitability and growth. The fact that he has 5m invested is a huge motivator for him. Don't underestimate that. Under apparently challenging conditions (i.e., covid, increased competition, reduced flower sales), the company did okay. Now Rosen & Co. say they have adjusted. Fact is, sales/revenue need to pick up. Next Q will tell the tale. Until then it's all speculation. GLTA.