More than 70mil Auxly shares have transacted since the Nov. 24 financing announcement of 40mil shares at $0.30.
45mil shares TSX and 25mil shares US.
Once the financing is closed Auxly's cash on hand should be enough to fully fund operations for 2021 as production is set to ramp up to meet the demand of a growing market.
With funding in place and a credit line established as Auxly moves to a profitable position the need for further financing is less of a requirement if not completely eliminated.
Without the 'need' of future financing the strategy of driving down Auxly's share price to acquire cheap shares becomes less effective. As tightly held as Auxly shares are, the best way to make money on Auxly now is to quietly accumulate, before the share price rises on the basis of the business proving itself.
If Q3-2020 is an honest indication of the gains Auxly is capable of over the next year the I am inclined to suggest Auxly could very well generate revenues upwards of $100,000,000 in 2021.
I prefer to look forward with my investments. I'm looking forward to seeing Auxly grow from a strong foundation laid down with net revenues of $31mil in the first 9 months of 2020.
Happy Holidays everyone!
cheers