Post by
geodcan on Sep 23, 2021 3:14pm
Here we sit
broken hearted, paid the price and barely started.
We have bricks, mortar, licenses and permits to bottle cannabinoid beverages in California, worlds largest captive market with legal jurisdiction for this type of product.
By all appearances, said bottling line seems functional and we have enough interest to build this line out to accomodate tins and petuloids.
What we don't have is a launch program for our efforts.
Sadly, Jeff couldn't bring this home and now we are looking for a new driving force but are left in good hands with Rick Gillis, who can't do any worse than where we are at right now. I did ask for opinions of who might fill the CEO's position but maybe that isn't enough weeding out. Where were the rest of the board members and what were they doing?
No doubt a shake-up is in order and I wouldn't have invested in this in the first place if I didn't think it could be phenomenal.
New blood is going to result in dilution of sharefloat to get somebody viable to sign on and take the responsibility.
Our last run of management were touted as high energy and capable. I didn't get the sense that anybody was doing anything other than Jeff who got us to where we are.
Rick is high pedigree and has the look of a mover and shaker but what he has done is questionable. Maybe Jeff was a control freak with his own agenda and wouldn't take advice from his peers. He sure stuck to his guns about keeping away from fluffy nrs.
Maybe we need a Bruce Linton, dreamer extraordinaire or one of the Monster guys, or Red Bull guys.
What we do need for sure is that whoever takes the reins, keeps the shareholders informed.
Some think that we are in the crosshairs of MSOs or LPs or Big alcohol, pharma, tobacco or even one of the big two Cola companies.
If we are, it wouldn't take much to spring a takeover on us. I still think we would be a great fit for Canopy who are working hard on the East Coast of the US to put down footprints and bricks and mortar and they are highly optimistic about cannabinoid infused beverages.
Tinley reputedely has the largest cannabinoid capable bottling facility in California, where Canopy has announced that they are headed and the whole thing seems to be hinged on US decriminalization at the Federal level, which most anticipate.
I also though about Arizona Iced Tea who are an International going concern bottling Tea but are looking to dip their toe into cannabinoids. Rumour has it they were in talks with BRCK/Dixie/ BR Brands for this but that was before Tinley being available.
A new CEO with experience and a new suitor would suit me fine to recapture some of our value. Tinley shareholders have kneejerked on the potential of Tinley but the basics are there for somebody new and invigorated to drive this forward especially with the dismal shareprice record and lack of volume which I also attribute to being in the hands of the marketmakers.
I'm not bailing now because I have had a taste of the potential from back in the $2 days and it isn't just Tinley that thinks this type of sku is going to be profitable. There are some biggies queing up and California is in their sights and commonsense tells me that we are close to some good numbers.
glta and dyodd
Comment by
BigHero on Sep 23, 2021 5:21pm
And the share price has been driven down to where this should be attractive to a larger fish to take this over! As I once pointed out this happened with Fire and Canopy. Don't believe longs will recover but doesn't seem to be too many options. As you said if a larger group doesn't bite there will be more dilution with a new CEO and cash flow requirements.