Friday, October 29, 2021

Going on TILT.c - $ 552m loss in 2018 - Revisited

And really. The BS was thick and Cannacrap deep a few years ago, and where are we today? Don't ask, pfffft.

Naturally our guy simply HAS TO double down on his spewage about vaping. "Tilt Holdings Inc.has released the following statement today from the company's interim chief executive officer, Mark Scatterday, regarding recent media coverage of vaping issues and a temporary vape ban in Massachusetts." This iffing tard spewing when it's OBVIOUS he cannot possibly 'know' a fukkin thing, and whilst piloting this garbage to ever new 52 week lows, well, tis insulting in the extreme.

Until vaping came along NOBODY ever died from smoking pot. The capitalists are sooooooo eager to make money they will kill kids whilst lying like sidewalks, no problemo. "short-term noise" = sux my ass.
Latest and greatest from this group of iffing sad sacks is a splaining of the recent news that vaping is killing folks. (Now 6 dead, 450 sick) " ... recent negative press around vaping, we are finding out that most of this news revolves around non-compliant and black market products."

What these hopeless management retards 'find' as they rip this co's stakeholders off stupid isn't really important to anybody. What they very much NEED to figure out is that vaping is fully untested and unknown.

Right this moment vaping appears the dopiest 'business' decision of the last decade, by far.
Latest from the offense known as Tilt Holdings Inc (TILT.c) is news of a US$125m convertible note financing. The firm has set a minimum financing of US$50m for the note, which can expand to $125m at it's discretion. That conversion is somewhere around $1.10.

In November 2018, the company raised US$119m, with shares being peddled at a price of C$5.25. Proceeds of the latest will go towards the Company’s U.S. $20m Bridge Loan dated April 29, 2019 that bears interest at 18.75%. Truly a body wonders what folks see in enterprises such as this.
"... represents another significant milestone for the Company," said Alex Coleman, Chairman and CEO of Tilt. "These financial results reflect the four way merger that formed Tilt and the corresponding balance sheet adjustments. Overall, we are extremely encouraged by the pro forma results."

Riiiight, sure dude, that's half a fukkin billion into the ether. "Adjusted EBITDA of $(20.7) million compared to $(4.1) million in the prior year, with pro forma adjusted EBITDA of $(39.6) million." Damn tis and a very good example of why we don't touch grossly overvalued pot stocks at all.
Canaccord Genuity reiterated their $7/share “Speculative Buy” target despite a large impairment loss on goodwill, which saw TILT Holdings write-down $496.44 million in non-cash losses.