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Bullboard - Stock Discussion Forum Chalice Brands Ltd CHALF

Chalice Brands Ltd. is a U.S. operator in the most competitive, innovative and mature cannabis market in North America. Leaders in retail, marketing and craft cultivation supported by fully integrated processing and distribution. The Company has 12 retail stores in Oregon operating as Chalice Farms, Homegrown Oregon and Left Coast Connection and is distributed nationally through Fifth & Root. see more

GREY:CHALF - Post Discussion

Chalice Brands Ltd > questions regarding recent trading halt
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Post by Heywood_Silvers on Jun 23, 2022 7:35pm

questions regarding recent trading halt

IIROC enacted a trading halt due to Chalice not meeting the deadline to file their annual audited financials, correct?  So, the resolution to the trading halt would be for Chalice to file.

I understand that there have been some serious delays with the filing, but is it not possible that they  just have a very poor, disorganized auditor as alluded to in Chalice's recent press release related to the delays?

What is the worst possible outcome with regards to the pending audit?  That would be if the auditor issues an adverse opinion on the financials, which could be indicitive of fraud.  I don't believe that is what most investors are necessarily worried about.  Gamesmanship with insider activities and debt and such maybe, but fraud?

Let's not forget that although the financials are delayed, sales and the day-to-day activities of Chalice continue regardless.  I understand the frustration of shareholders with the month plus of a trading halt, but some posters claims that the stock is effectively worth $0 seem to be a bit of hyperbole.
Comment by SepiJM on Jun 23, 2022 10:55pm
@Heywood Excellent post and thank you for introducing a new perspective. To add to your insight, Chal hired a new CFO a little while back. I think she was hired around the beginning of 2022. With the new interim CFO announced today and the change of auditors (as you mentioned), it may not be so weird that trading is halted. Obviously there is a level of disorganization as they are months behind ...more  
Comment by Here4thekeks on Jun 24, 2022 11:54am
Simple Sepi (Blazer); to answer your concerns about debt:  DEBT is due in November Current DE Ratio  is 68 What this means (to uneducated pumpers like you) is  FOR EVERY DOLLAR CHALICE OWNS, IT OWES $68 NO FINANCIALS SINCE 2021 DElisting is imminent.
Comment by Heywood_Silvers on Jun 24, 2022 4:35pm
Hi Sepi, thank you for your response.  I primarily invest in the junior resource sector, but given the small market cap of CHAL and that it also trades on the TSX there are some similarities to draw upon.  The major issues/complaints you run across in the junior resource sphere are how management treats the company and its shareholders.  Some managment teams treat the company as a ...more  
Comment by SepiJM on Jun 27, 2022 1:23pm
Hey, Heywood. Thank you for your response. I'd like to retract my statement about a new CFO hired around the beginning of 2022. After some research, the resigned Andrew Marchington had previously left Chalice Brands, then returned full time. This was announced in the youtube Q3 release of 2021. I apologize for the mistake. As you know, marijuana companies accross the entire sector have been ...more  
Comment by GustheGreek on Jun 27, 2022 2:13pm
Answer to your question Sep is NO. We here on the Canadian side can't do shyt with our shares until it resumes trading, IF it ever resumes trading. Unfortunately we can't trade Canadian shares for U.S. shares.
Comment by SepiJM on Jun 27, 2022 2:35pm
Thank you for your response, Gus! PS, agreed and I'd argue that you missed a few names lmao. It's embarrasing that they are so confident, yet never back a single claim. I've asked to show their math prooving a D/E ratio of 68 instead of copying/pasting from yahoo. If the division of 2 numbers is too difficult, investing is a concept that will never be understood. However, I strongly ...more  
Comment by TheCanadianDude on Jun 27, 2022 5:29pm
Oh SepiJM/ AKA PortlandBlazer: You are admitting you lied in your responses? Oh well, isn't this what you do for a living Blazer? Trading is halted and might be delisted so who are you trying to entice? LMAO
Comment by GustheGreek on Jun 24, 2022 3:56am
Careful what you post on this forum, there's some idiot bagholders here that may label you a pumper, simply because you're making sense and stating facts.
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