Medipharm Labs Corp T.LABS

Well...

[allibabba]

I've been sitting on the sidelines for a short while now still hitting my head about the massive let down this company has become.  I have been contemplating to re-establish a position here, however today's news tells me that this was a last ditch effort to save the company from complete failure.  That being said, if revenues were heading in the right direction for the next ER I don't think Pat would have resigned.  That means next quarter will likely be another disaster.  I may re-consider if it comes down to the 0.40-0.45 range.  GLTA

[lscfa]

How the hell can Q4 be worse that Q3 with only $5 million in revenue? Ontario retail outlets keep growing every week.

[lscfa]

ontario retail outlets:      sept 28 ..... 173     dec 07........262

[Lemoyne]

43% of revenue was still private label/ tolling. intl revenue growth in australia seems flimsy, this ****could**** decrease in Q4 (ie: too much product ordered initially/ not selling, remember Canada?) So even with 30-40% white label increase, it could fall short of 5M.

[allibabba]

Because LABS put all their eggs into the "medical" basket.  When the recreational market was in shambles, everyone here was cheering how it wouldn't affect them because they were a drug manufacturer not a cannabis play.  Now the medical market has proved to be a long slow road to fruition and LABS missed the boat on the recreational market.  700k in medical sales last

[Lemoyne]

How do you know 700k in medical? THey made 700k in australia. Are you mistaking one for the other?

[allibabba]

Ya sorry, that was my mistake.  Assuming all aus revenue is medical.

[allibabba]

That has also crossed my mind.  You may be right there but the last CFO leaving for family reasons 2 days before announcing catastrophic earnings smells bad and so does this move.  Could all be for the better or it could be out of desperation.  Time will tell.

[Righttothetop]

As I've stated before, the BoD are full of very strong and seasoned business giants.  They ain't rookies and they recognize (as perhaps even PM did) that bringing someone else in with some proper senior exec biz smarts, one that can take the company to that next step, is required. PM may not have left on his own, but he may not have needed much help either....let's face it, he

[Lemoyne]

Same opinion here. And it seems investors in general feel the same as stock remained pretty much flat today. This major change in mgmt clearly hasn't had the expected consequences stealth and flad were hoping for. Everyone is waiting to see how next quarters will unfold before crucifying LABS. There is potential here and the BoD behemoths think the same. Do you know any other cannabis

[allibabba]

They do have strong members on the board of directors, however that doesn't guarantee the success of the company.  What seems a little fishy to me is that they forced Pat out and made Keith interim.  He is no more qualified or capable so why not just wait until they find a new replacement and then announce the change?  I think there is more to it.  Also there is 4.5 million

[Lemoyne]

Have you ever seen a CEO sacking and replacement announced at the same time when the candidate will be external?

[Lemoyne]

Look, this is speculation, but IMO, I think they timed the CEO change because they know Q4 is decent, at least part of them, (ie white label growth) and they want to turn the page with new high management on the getgo for what would be a break out year in 2021. I doubt they would sack Pat to have the new CEO start off with bad news in Q4, it wouldn't make sense to have new CEO put on the

[allibabba]

That does make a lot of sense when you explain like that.  

[Righttothetop]

Not too sure the Q4 numbers will be good or not, or whether they bring in someone before then or not.  Really, if the Q4 numbers are poor, new CEO just blames old CEO akin to new head of state blaming the last head of state for the garbage they inherited so I don't think we can say the Q4 numbers will be more or less shytey simply because of that. Either way, who they bring in will be

[Hopeful123]

Does this company have any cash or major liabilities..Hearing cash problems..that would suck

[Lemoyne]

Again, huge buys end of week. After CEO news yesterday to top it off! Something is cooking and the sharks are starting to feist.

[checkup]

This post has been removed in accordance with Community Policy

[allibabba]

Wow!  That was quite impressive.  Keep in mind there is 4.5 million shares short so there is likely some short covering happening.  Canna cord is the sleeziest company out there so they likely have a huge short position that they need to cover.

[allibabba]

Either way it's good news because the way I see is that they had no reason to cover with Pat at the helm, they must feel that him stepping down is a positive.

[JaCkSnap]

I'll ssecondthat in terms of cannacord being the 'sleeziest company out there'.

[lscfa]

BS. There are multiple Medipharm products and 3rd party products (like Ace Valley vapes) sold in the online stores of Ontario, BC, Alberta, Sask. Quebec, Nova Scotia. 

[Lemoyne]

Pat would not have resigned of his own volition. You look at all the cannabis companies that changed CEO, it's almost always the board pushing the CEO out/down. He simply is not fit for what they hope it is to come. It's been known since the last cc that mgmt thinks growth will be compounded by intl developments (that ***should*** start in Q1 2021) and Q4 is going to be another quarter to

[Lemoyne]

Just saying Pat stepping down is more of a timing thing getting a more capable international pharma CEO/CFO for the next growth period.