Post by
shneps on Sep 06, 2021 1:03pm
Assets v. Liabilities
Considering the premise the company has sold their only major remaining asset recently accounting for $3.2M of the total asset base of $4.89M.
Having $8.7M in current liabilities this leaves the money owing 5X+ the company's assets.
This is a very dangerous position for them to be in.
I'm very curious to see how they paid for Cannahive considering they can't pay the bills they have owing.
At an average burn rate of $500,000+ per quarter there will be another $1M+ dollars + Cannahive before beverages possibly make it out by Christmas and still no edibles available.
Afraid this is not looking good at all.
"A successful company has more assets than liabilities, meaning it has the resources to fulfill its obligations. On the other hand, a company whose liabilities exceed its assets is probably in trouble."