Monday, July 8, 2019

Cannabis One Holdings Inc - CBIS.c - Update II

This horrid terrible bad co has released numbers and if there were troubles weeks ago it's screaming bad now. Seriously (seriously) insolvent and this enterprise is fully looted, no question. Details are unspeakable. There is no level where this paper should be touched.

Main dorkus has issued a breathless NR touting his "tireless pursuit of excellence" whilst dishing up copious "exciting visualization." Which stupid anus conceived this rubbish is unknown, likely Mr. Jeffery Mascio. Reading this insulting horsechit would INSTANTLY raise my hackles if I was buried in this chit. The only "visualization" I require is an appreciation of a co capped in excess of $ 80m that has zero revenues and which will be broke in months. That AIN'T an "exciting visualization."

A very curious and unusual Friday afternoon NR from main cheese Jeffery Mascio. "Cannabis One is retracting its previously announced acceleration notice of certain Class “A” subordinate voting share (“SUB Share“) and certain Class “B” super voting share (“SVS Share“) purchase warrants (the “Warrants“), effective June 14, 2019, which were assumed by the Company pursuant to the acquisition of Bertram Capital Finance Inc."
The red flags are at full mast and in number. A convoluted capital structure with different voting rights is always a concern and this main man is making some too stupid comments that ought to remain his business. Co's website has a section about 'financials' and then refers folks to Sedar. Pffft. Going there, we find total revenues for 2018/19 were zero. That against a loss of $836k. Co has managed to accrue $370k in payables. Cash was $ 1.5m and that is going down.

CBIS.c is making many grandiose promises of greatness, but the reality is this co will certainly be dead broke in months.
"Cannabis One is already validating its roll-up strategy, securing new partnerships and acquisitions to create exciting expansion opportunities, with more than 30 targets in the pipeline."

There is little to no evidence, at first blush, of ANY value here. Main man spewing stupidly isn't helping. There is much potential for danger. Those holding CBIS shares are well advised to do their homework and to not delay in doing so.