RE:Just One Nagging QuestionI havent dug through all of the filings to figure out the share counts, but, IMO, CGC created CUSA as a new company. They sold into CUSA their rights to buy Wana etc. In that move, CGC got shares of CUSA. The disclosures say CGC will not control CUSA - this was necessary so they stayed onside with NASDAQ because a listed company on NASDAQ cant be in an illegal business - ie producing weed, IMO. Thats also why CUSA has this mgmt board that isnt controlled by CGC(its 3 people, Klein, Nancy Whiteman and someone else). All of this was to let them close on buying those companies and begin merging their ops, marketing, intellect, etc. Once they own them, they can then tell the world how they (Wana et al) perfrom financially, which they seem to think is great and will help the share price.
I think the thing that is still unclear is, if CUSA earns $1 million, how much of that is for CGC and how much goes to other shareholders of CUSA. If you convert your shares to these exchangeables, you dont have rrights to earnings in CUSA until they convert to commons, IMO, which will only happen when legalization occurs. If you take the exchangeables, you have given up your commons in CGC, so I dont know whiy I would do that. I think Constellation did that to clean up any issue as a public co owning shares in US producers, but not 100% sure. Until you are clear on who owns what share #s in CUSA, its a bit unclear if CGC won or lost on that deal - they do own some of CUSA, I'm just not clear on the %. They used alot of words and management independence to convince NASDAq that they dont control it, so for accounting, they dont have to consolidate the financials, in order to stay onside with NASDAQ.
Klein says they will finish buying Wana and Jetty soon, but I think he also said, it wont show up in the reporting until Q1 or 2 2025 They did issue the shares to Constellation for CUSA in April which is after year end. This is my understanding, DYODD