Post by
WeeblesWobble on May 06, 2021 4:59pm
IMCC - The Real Story
https://rottentomatostocks.com/imccs-high-valuation-cant-fool-cannabis-investors/
My previous optimism is fading as fast as IMCC's share price. I picked MYM back in Oct 2017. The takeover means I won't get to choose IMCC. Guess we'll find out more tomorrow when the IMCC share offering is supposed to close.
Comment by
biketrader98 on May 07, 2021 10:31am
Why would MYM's management want to partner with these guys? It makes no sense looking at this story and the data. There's real risk of continuing operations and frankly MYM should be at least an equal partner in the deal in my opinion.
Comment by
NLMoose on May 12, 2021 10:14am
With MYM Nutraceuticals shares dropping more than 50% of its 2021 peak value since IM Cannabis' announced takeover of the company, I think its in MYM's best interest to break the agreement before investors suffer more, especially main ones like Biome Grow.
Comment by
biketrader98 on May 12, 2021 11:18am
I have to agree, unless they can redo this agreement to be more equitable based on actual financials and not "Market Cap" I don't see why MYM shareholders would vote yes. IM is not a company I would align with when compared to some of the other operators out there with similar market cap and significantly higher revenues. Time to go back to the drawing board!
Comment by
NLMoose on May 12, 2021 11:34am
Its MYM Nutraceuticals executives and its parent company, Biome Grow, whom are the problem as they have a large controlling interest of the company. Fortunately, minority shareholders have more say than the larger investors.
Comment by
TheBridge on May 12, 2021 10:36pm
IMO, the problem that you referred to are the only ones who stand to fill their pockets if the deal goes through............and they're not going to just let it slip by.
Comment by
WeeblesWobble on May 13, 2021 10:16am
I dont see how the minority has more say. One share, one vote. The majority is highly organized (as evidenced by the lockup agreements). The minority is still trying to get organized (as evidenced by the oppose-the-deal website). In any vote of any kind, the organized group invariably wins the result they are seeking.
Comment by
RockMaschine on May 13, 2021 10:32am
Great to see common sense prevailing. I guarantee there is a trading house or two in good with management who have a few million shares ready to vote yes.
Comment by
biketrader98 on May 13, 2021 11:20am
If they had the votes, this thing would be done already.
Comment by
RockMaschine on May 13, 2021 11:39am
Not in any merger Ive been a part of. 2-3 months is completely normal and is about how long it took to close the Trichome acquisition. I havent received my proxy yet.
Comment by
WeeblesWobble on May 14, 2021 9:50am
MYM has to prepare and issue a Mgmt Info Circular to accompany the Notice of Special Meeting and proxy forms. It takes time.
Comment by
TheBridge on May 17, 2021 5:38pm
Weebles, what incentive is there to inspire them to do a fair job of preparing and then issueing the respectable Mgmt. Circular? IMO, they are the ones to benefit the most from having the carpet pulled out from under MYM's feet. It's a foregone conslusion where this is going to end up, so don't worry, be happy.
Comment by
WeeblesWobble on May 17, 2021 6:56pm
Not worried, just explaining to Rock why he hasn't got his proxy yet. IMO, the only way this doesn't go ahead is if someone can demonstrate the fair value of MYM is more than $0.125 ($5.65 x .022). I wish anyone who wants to try all the luck in the world. Of course, one could always hope for the proverbial White Knight (aka Santa Claus).