Sunniva Inc SNNVF

Purchaser has no cash and sale is subject to financing

[thetis88]

I looked up the financials of Cannapharmax. It has 200 grand cash at March 31 and payables of 843,000 dollars. It trades on the pink sheets. There was a loss of over a million dollars on ZERO revenue in first quarter of 2019.

But most important -- their purchase of the land, is  SUBJECT TO FINANCING - and they have no cash.
Haven't we seen this story before, when Sunniva expected to get financing for this property.????
With  the close to happening   in three weeks, how the hell will Cannapharmax come up with the cash that quickly???

I would not count the chickens on this deal. It's easy to promise  to pay 20 million if you have no cash and put the words subject to financing in the deal. However, stranger things have happened 

We will see .
Be interesting if the next press release  in early July is an extension in the time to close, and then the deal might  just fade away.

[EFW5370]

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