Blaze through the backdoor wasinitiated when we first heard of the deal they struck.
Suffice it to say Tinley was on the ropes to do a deal like that and like the previous poster says at least they may be able to make this work, based on previous beer company building experience that resulted in them being able to bring on a major beer player to buy out their efforts.
I have theorized that Tinley needed to be bigger but now it appears that it is going to be de-commissioned and it is unclear if this is getting dumped out or re-commissioned into the Blaze bottling effort that is estimated to be about twice the size in sq feet as the LB facility.
Synergizing assets and one management team should be able to run both with savings that Tinley estimates at a million dollars suggests that Tinley is still going to be a separate company, at least until they default on the loan payment to Blaze.
Tinley took their best shot and made a lot of fumbles, in hindsight!
Blaze showed up waving financing that was grabbed at by Tinley.
Nobody knows what the numbers are but Tinley says they will crank out beverages for another couple of quarters to meet demand which is also an unknown.
Most junior startups take a full 7 years to get to black ink. I doubt that Tinley made it and went into salvage mode.
It is hard to say that we had any kind of professional promotion of our stable of products but we did get a couple of awards, so who knows if they will hold up. It only takes one successful product to be a success.
I'm guessing that Blaze can't do any worse and that specialty bottling equipment, if it gets set up at Blaze might fill a niche for high end products.
US bottlers of cannabinoid infused beverages are in a struggle with government law and policy makers and the nimby crowd of Nancys and Richards that are still waging a war on recreational drugs.
Tinley and Blaze aren't big enough to fund lobbyists to get our infused beverage skus allowed in already established bars and lounges and for this to really hit its stride, this needs to happen.
Canopy and Tilray may be able to buy the ear of a politician that can make the changes that the cannabinoid business needs to get to a gallop and Canopy has already locked up a big wealthy brother called STZ who have ponied up billions to be a major with Canopy who have a line of cannabinoid infused beverages that are chompin' at the bit to do business in the US to complement their well established alcohol businesses.
The $50 million question is how are Tinley and Blaze going to treat the first in investors of Tinley which I guess depends on what our IP and recipes are worth. The shareprice will depict the sentiment of investors who I daresay are frustrated and don't want anymore bullshyt and secondly can Blaze bring the magic, initiative and ability to deliver a moneymaker for the benefit of all the shareholders and not just the preferreds.
I think this is better than an outright tanking that only time will tell!
glta and dyodd