RE:RE:RE:RE:RE:RE:RE:Right where I figured we were headed. I agree that Blaze gave Tinley shareholders one more chance at recuping some of their investment.
There was a terrible amount of overspending and evaluations by most of the pot management and investors.
That is what got Canada a first greenrush back in the days when Constellation Brands piled in to Canopy for $5 billion.
That move lit the fuse for the LPS and MSOs and got investors excited enough to drive shareprices of some of the successful potcos to crazy multiples.
With Constellation Brands investment towards control of Canopy came a very different valuation procedure that was financial and not irrational exuberance.
It seems as though Constellation helped to launch the excitement but were also instrumental in fixing the evaluations to the more traditional profit and loss statements.
It takes most startup companies up to 7 years to get to black ink with their revenue and expense accounting.
Tinley ran too fast with changing from CBD to THC and building our own bottling line. Combine that with a big pullback by burned investors and raising capital to fund newstarts got really difficult and expensive like usury rate expensive of 60 to 70% on pot loans, if you could raise the money at all.
While Constellation were busy killing the excitement for pot investors they were also buying up brands and companies at firesale prices.
Constellation was an alcohol magnate that wanted to be a part of the pot business too. They checked their crystal ball and saw marketshare loss for their light alcohol skus to healthier, less calories and sugar cannabinoid infused options.
They seem to have pulled back on those ambitions while others were flooding the marketplace as they could with this type of offering but continue with cutting Canopy to the core of profit potential while ditching the losing divisions.
Tilray is trying to change up to a light alcohol provider from their pot ambitions while waiting out a proper legalization bill that is as fair to cannabinoids as to alcohol.
Tilray is California based and should still be in the crosshairs of this type of acquisitor because California is more accepting of pot infused beverages and also a huge marketplace.
It Tinley can make this last chance work for the company and shareholders, I can see a Constellation, Canopy or Tilray swooping in and buying it up as a going concern and a west coast asset that should be profitable when the politicians flex to the will of the voters.
BevCanna is just another overly optimistic endeavour that spent more than they could afford and couldn't pay the bills and they aren't the only one.
Cannabinoid infused beverages came out of the gate before the revenue to offset the expenses happened and the bills keep coming.
Smart money is lurking, waiting and setting itself up to bring real formulating, bottling and distribution to the cannabinoid business for drinkables.
Gotta clear some of the bullshyt laws and policies that are keeping us out of regular bars and lounges because having to build a separate wateringhole for cannabinoids is just ridiculous when a warning label should be enough for adults to warn them of potential overindulgence by mixing two vices together.
A beer and a toke are an institution that has been going on for decades in the parking lot for the toke and the bar for the beer.
Do gooders are trying to save everybody from themselves.
No body warned me about redwine and whisky, lol!