The latest nrsays that Tinley's is working on hemp skus. We dropped those with the Hemplify. We are working on THC products and currently have 2 lines, 1 rtd and 1 multi-serve liquor style.
With the latest announcement it looks like we are teaming up with Blaze who are connected to Delta who have a full line of seltzer type cannabinoid beverages with cbd but also thc 8 and thc 9 which is a legal loophole thc that hasn't come under negative scrutiny by law enforcement because they derive it from hemp.
Having both these type of products in our stable is good imho and I was very dissapointed when Tinley's dropped the Hemplify with CBD. Jmho but CBD is going to be the bread and butter and thc the gravy because there are a lot of people finding relief for ailments from both THC and CBD but newcomers are willing to try the CBD versions if they are unsure of how THC affects them.
Somehow Rick is involved in this with his Algonquin company and it seems that the money is going to him or through him but benefits Blaze the most by putting them in a deal that they could buy control.
$3 million seems very light to me for a company that is just getting its ducks in order to make some money and I would really like to see an unencumbered deal between our financier/buyer without all of the hooks in it.
I'm sure that our LB plant cost close to 20 million dollars and it is reputed to be the largest and specifically suited fot cannabinoid infusion beverages.
Blaze is sure as hell not overpaying for this as has been the history for all of the other deals like the Acreage Canopy deal that was valued at 3.4 billion initially and got rewrote for 30 million cash and a share swap.
Shareholders of Tinley are already feeling screwed over for the time and pisspoor shareprice that has been manipulated on us. Maybe this is a hail mary deal but I would still like the option of putting this on the block for others to bid on.
As I said before, Tinley's with where it is at right now is worth $2 per share all day long because we are a going concern with recipes, licenses, bottling facility and inspections already done.
Shareholders should have a vote as to whether they want this financing or to hold out for a better offer!
glta and dyodd
ps. I wonder what Jeff thinks about this deal pending?