Let's be 100% crystal clear, 98% or so of mjnas book value is kannaways bogus valuation on the balance sheet.
Its a virtually worthless business, maybe a few million since they got Blake Schroeder from FVRG to run it.
If they had a real accountant and or were on a real stock exchange that 100mm valuation for kannaway would be written down to maybe 3mm dollars. Mjna is all smoke and mirrors.
I'm being brutally honest here .
They have tons of debt and no real proprietary anything.
My teenager can make hemp oil .
Let's not get excited over that company .
Fluff PRS to boot .
Its a mess.
2bb shares almost. Yikes.
And as such, due to the nutritional differentiation it should sell for a premium, for sure. We don't have enough supply to replace the entire lettuce market.
Same cost grow, but higher margins.
this stock is nearly worthless.
Including their preferred shares.
Selling 1.9 Mm after a 350% move means they have far more dollars in stocks than we can imagine.
If they didn't need the cash for taxes or whatever their wives told them to buy(snicker), I doubt they would have sold anything.
Think about it, why would the Vandevredes sell shares just days before the big Ediblke Garden news, when they were in the know ?
The insider selling is barely even trivial, !
Let alone substantial.
The market was at .315 when the first sale hit the wire. That was two weeks ago.
Where is it now?
Don't ignore the facts.
So first Q nothger nice loss, and a prayer for Q2.
Yep that's them.
They have no cred.
At least they moved out of their castle to save cash.
They bleed cash currently pretty bad.
Even if I wasn't a TRTC shareholder, I would say it is most likely they only one you could put serious capital to work.
Its been years of penny cannabis stock goings on, and clearly the market is much more shrewd on the relative merits of the different players.
Mjna erbb hemp cbis and many others are total rubbish.
Look at the pics of training at the Western Av store.
A lady comments that they should be filming a movie about Terra Tech...
And see for yourselves the company's reply.
No wonder he didn't hire any butter faces over there.
almost forgot the CC where he chuckled and admitted he was calling in from Yosemite Nat. Park.
And the relentless hubris heavily sprinkled with untidy glibness.
The CC's are a study in everything not to say in a CC
Professors at business schools could certainly teach off these beauties....imho
I agree. Every single move turns into a CF.
Imagine if he had the foresight 4 years ago to not touch K and spend the capital on fountain development? imagine the CA plant wasnt tied up with all his low margin non sense, forgoing RGB and Virgils ....now losing customers.
Imagine if he didnt play high stakes poker by insulting and threatening his east coast copacker 2.5 years ago on the CC.
2 huge huge mistakes.
Then all the PL snafus
gawd dont get me started.
the opposite of what is happening.
Amazingly, even after my post, they said in a PR they were aiming at being more transparent.
now, no conference call, no nuttin, just a last minute 10k with a 1+MM loss for the quarter
(which they did not break out, but i did.
They missed all their expectations by a mile,
took on debt have a 3.6mm working cap deficit, still.
Was it May when Brenda Huang , president, was quoted as saying sales would grow exponentially as the year progressed?
What happened to her?
Blake Schroeder has left the company too.
Not bleeding cash.
279k positive ebitda
300k+ of interest means it was a cash neutral quarter from ops.
Not great but on the cusp of better times from a cash and working cap perspective.
Just the facts.
7-11 didn't start in the reported quarter.
Also, the lesson for Chris will be margins are what matters,,, the sales growth is not that interesting without being profitable...
Without a real world bag in a box trial, supposedly coming(like anyone trusts him), the stock will be quiet for 3-6 months.
I was surprised there was not a big excuse/Q4 end of year write off(with the obligatory nervous chuckle from CR.
IMHO any quarter with improving margins a small loss and no epic gaff is a minor victory.
He seems to be more cognizant of his failures although not willing or able to take much blame..
He also seems much more financially focused, due to the tight liquidity episode.
But I can't believe someone has not told him he sounds like a moron and needs to step aside.
He has no business being in charge.
The plant is a disaster. 3 more months?
The CFO does not seem to be on point at all which is worrisome.
He sounds anything but lucid.
These are my observations...
Decemberist on stocktwits, aka netprophecy, has done an about face and is today saying this is a breakout if it holds....and it is of sorts, but ultimately a close of $6 ish. Will denote a more powerful and lasting breakout, then $9 should we ever be so blessed.
S/b by march 31, but that is indeterminate currently...