Last week, NMC admitted that it identified an additional $2.7 billion in debt, rounding the total debt to around $5 billion. NMC staff were not paid last month.
When the savings and loan crisis in the US hit in 1989, a lot of slow-moving investors lost their dough thinking the worst couldn’t possible happen. When the dotcom bubble burst in 2001, a lot of folks got torn up as stocks that had previously been 100-baggers went to zero. When the real estate market burned to the ground amid the financial crisis of 2008, a lot of folks got pulled under, imagining the worst that could happen couldn’t really happen. When the Canadian weed market started imploding in early 2019, true believers told themselves for months, “It’s bound to come back soon,” even as companies lost 95% of their value
"It's the financials that are really getting killed,” stated Schiff, “They have made all the loans that are not going to get repaid, so this is just like 2008, only it's not just the banks that are going to need a bailout, it's the hotels, it’s the airlines, it's companies like Boeing, it's the cruise lines.”
“The National Marriage Project dubbed the drop in divorce ‘a silver lining’ to the Great Recession,” stated The L.A. Times, “arguing that tough times were pulling many husbands and wives closer together.”
No company in the Canadian cannabis space polarizes people like Green Organic Dutchman (TGOD.T), which roared to the public markets on perhaps the biggest promote yet seen, raised nine-digit totals along the way, swept in more first time private placement participants than any company before them, and then did... well... nothing, for a long time. With top brass having been walked recently and plans to super-size the company grow facilities shelved in the wake of underwhelming need for more weed, TGOD has made no secret it is at a moment of recalibration, but investors will have expected to see more than this.
When a sector gets hot, small cap stocks can often get a bump by sidling up to the hot sector with a new product/idea/opportunity. When the dust clears, the intrinsic value of the new offering is typically deemed to be low. We saw it in 3D-printing, with Dung Beetle Treats. We saw it in weed with a $1 billion website that forgot to sell cannabis. We saw it in blockchain with a Cryptocoin for porno transactions.
Okay, so the world is burning, the Russians and Saudis are pouring low-cost fuel over it, the Americans are shocked that a reality TV show host with a penchant for scams didn’t make a clever President, Italy is in total lockdown, the Japanese are thinking of holding a spectator-free Olympics, Israel is putting anyone coming home from overseas in two weeks of quarantine, the stock markets are taking their biggest dive ever, and morons are hoarding toilet paper and hand sanitizer while lining up for the free havarti samples at Costco.
Last Mile’s (MILE.V) e-scooters are the perfect solution for college kids who don’t give a damn about cars: Equity Guru podcast pt.1 with CEO Max Smith
MILE now has the broadest product profile in the micro-mobility space, featuring a pedal bike, e-bike, standup scooter, seated scooter and trike," stated Max Smith, CEO of MILE. "Offering multi-modal solutions is key to expanding our network."
With all of the carnage in the broader markets of late—S&P 500 futures are currently off 5%, Crude Oil (WTI) is off a whopping 30%—there are precious few bright spots.
On March 9, 2020 Patriot One (PAT.T) announced that it has been awarded a contract for the PATSCAN Multi-Sensor Covert Threat Detection Platform by Innovation Solutions Canada (ISC) for Correctional Service Canada (CSC).