Friday, May 24, 2019

48North Cannabis Corp (NRTH.v) - 'The Deep Dive' - Update


Latest is 708,250 stock options AND 900,000 restricted share units in reward for losing dough in bucketfuls. Yup another wiener in the pot space.

48North Cannabis Corp (NRTH.v) released its financials over the Victoria Day holiday weekend. A large red flag to have a holiday NR and these girls are all about that. Quarterly revenues sewered on a quarter over quarter basis, falling to just $689,000 for the third quarter, compared to $2.3m in the previous. That meant a quarterly loss of $1.47m. 48North didn't spew about that, instead it was keggar time about a 'milestone' in 'EBITDA'.

Also uber high on the spewlist is an outdoor-grown organic cannabis license which is "expected to be the lowest-cost per gram in Canada." That promise of greatness has juiced this total chit.

Alison Gordon, co-CEO
This co exemplifies everything that is wrong with the venture pot rush. A gaggle of no knowing idiots losing money hand over fist in a grossly over-hyped market whilst public types are drooling over themselves to throw more cash at the brilliant idear. These ladies need to find something they are good at ... growing chitty pot nobody wants isn't working.

We again give a congrats to 'The Deep Dive' who follows the vast numbers of pot promotions FAR closer than I would ever bother.

Jeanette VanderMarel, co-CEO