Canopy Growth Corp T.WEED

Dan Crospy BioSteel

[Apprentice]

Looks like CGC was able to benefit somewhat after all in addition to cost avoidance. At least with the Canadian sale.

 

So it's a very quick and it's basically you come cash in hand and you better be ready to buy it and that's how this is going down."       

 

The other part went to Gregory Packaging Inc.
 

https://www.iheartradio.ca/am800/news/local-business-owner-hoping-to-own-canadian-sports-drink-1.20374092

[geodcan]

I never reall thought the BioSteel was such a bad idea but like all newstarts, it costs a lot of money to get some traction and for Canopy, dumping out BioSteel was probably the quickest way to curb the drain on finances. No new start makes positive cash flow.  Some take up to 7 years to show black ink. I guess at one time the Canopy guy thought it was a good investment and it sounds like

[quinlash]

Geo, You are misunderstanding the whole Nasdaq listing thing. Yes, the company approved the use of a share consolidate to bring the price back over a buck to comply but if the shareprice gets back over a buck organically prior to (at the latest) Sept of 2024 then there is no need.  Companies don't do share consolidations (a reverse split) just for giggles. Place yourself in the shoes

[geodcan]

You are ignoring the obvious which is related to my personal experience. I don't know why downgrading from the Nasdaq listing should affect the sp so much but I expect that it will and that is based on my experience. Yes a consolidation will jump the shareprice up but you will have a proportianate fewer number of shares and, again from my experience, I doubt that the shareprice would hold

[quinlash]

Wrong again Geo, There is no "downgrade" of the listing on the NasDaq, either they comply or they do not comply, it's pretty much black and white. Currently Canopy needs to get it's SP back up over $1 USD for 10 trading days in a row.  According to DeepDive they have as late as Sept 2024 to accomplish this. Book Value alone puts the SP back over $1 and that's just for

[Picker77]

No? Shorters set the price unless we hang onto our shares and don't sell. The share holders own their shares the company have got your money they have spent it.  We share holders have to hang on and change the price.  

[geodcan]

I wrote you a reply yesterday but it got snatched right off the page, straight into cyberspace, just like is going to happen to shareholders if Canopy gets consolidated. The Nasdaq demotion that I talked about isn't a lower level of Nasdaq but a lesser exchange based on lower qualifications like minimum shareprice and marketcap and such.  Canopy will no longer be a Nasdaq listed stock

[quinlash]

"The Cat in the Bag" you are looking for is the upcoming QTR report.  That one will capture the reduction in expenses of BioSteel being gone, this will be a 50-60% reduction.  They will also be disclosing the additional cash they got out of the sale of BioSteel.  I have yet to see those numbers and I will not be speculating on what they will look like. We are headed into

[Coloradobuff]

I agree if they can show the reduced burn next quarter that will be the first marker for me. 

[quinlash]

No harm in waiting to see the actual QTR report to confirm numbers however, based on the last report and everything that I am seeing the company is going to report (at minimum) a reduction of 50% in their expenses due to the sale of BioSteel. I will likely be using Stats Canada data for Cannabis sales to forecast a rough number on their sales then a conservative bump due to the reporting period