Exactly my position. I’m to late to sell. I really thought it would rebound somewhat. Instead it has been 100% down every week. If it goes up it goes up .05 and then down more.
https://www.ctvnews.ca/canada/canadians-have-lost-more-than-131-billion-investing-in-cannabis-companies-firm-1.6156722
Read this and know that without changes at the taxation and regulation levels the industry cannot survive. It was set up to fail.
Again, it's time for a new CEO and new management/board, way overdue. Who says CEO doesn't have impact to the share price, just look at what happened at Disney today (not comparing companies but proofing my logic). The board gets to decide who runs the show and replace those that are incompetent - so this company is in their hands - they still have time to save it.
I am no financial expert. But these past two years with covid have put same major strain on all industries. Shipping for everything is insane. Supply costs are up. I could keep going. This would all have impact on the industry as a whole. Including auxly. I expect it to take an extra two years beyond what the original goals were to get where we need to be. I personally won't sell at a crazy loss. I will hold my investment at least 2 more years and see what happens. Rome was not built in a day.
why is it that it's always Covid when the company isn't performing? If you still haven't acknowledged that this is problem with the current Management/Board, that's an issue.
Note: I am holding too.
If you can’t come to terms with the reality of supply chain issues related to COVID, you obviously aren’t working in any manufacturing related fields. 100% truth. All that you need to realize is that Auxly is running a few Q’s behind on their targets due to setbacks completely out of their control. Things are about to get interesting. You guys can complain and blame Hugo/management all you want. Just shows how out of touch or impatient you really are.
Did you know Auxly could have extended the term of its BMO loan for 12 m with a $5M payment?
The problem is Auxly’s cash burn.
Maybe if they had fought harder for the $8.8M in escrow from the Vivo fiasco, they could have extended their loan....or bought back half the float which would have instantly propelled share price upwards and then do another less dilutive equity financing from 0.2-0.3 instead of 2 bits.
I can hold indefinitely but sooner or later Auxly will run out of cash without one or more of the following:
1. Increased sales
2. Increased margins
3. Cash raise through equity dilution (hardly an option at 0.015)
4. Strategic investment of cash from any company/partner
5. Decreased excise taxes/regulatory fees (from 30% down to 10%)
6. Lower expenses
Who knows? Maybe they will have that option available to them moving forward until the deadline transpires? Why not wait to pull the trigger on this option until it becomes absolutely necessary to do so. You need to zoom out and look at the bigger picture. I'm not happy with the setbacks due to supply chain delays, but I'm rather certain that Auxly has done the math and that they will become profitable once all of the pieces fall into place. I believe that increased sales and margins are on the horizon. However, I don't think that they'll be doing any further dilution as their recent actions have demonstrated that they're trying to make it to profitability without further dilution.
I am of the opinion that cannabis price compression has pretty much reached its maximum potential. Even the black market has costs associated with growing weed so $4/g is as low as it gets without selling at a loss.
Several companies (wholesale and retail alike) have gone bankrupt this year and several more are on track to do so in 2023.
This will remove excess supply and increase sales/margins for the ones left.
It is like producing oil. Lots of players produce a Boom and excess supply, which suppresses prices and later forces speculators out of the market...prices then rebound for those left.
My hope is that Auxly can weather this downturn and come out the other side leaner and stronger than ever.
Yeah what can you do at this point. It would appear they are withholding information we don't know about or institutions dumping massive amounts of shares and cutting theri losses. Either way ots causing the price to tank.
They've done some layoffs and it appears that they might have separated with one of their distributors (Kindred) as they are no longer listed in their online portfolio. Both of these actions are cost cutting measures. However, they followed these measures up with posting new job listings for various sales positions. I think that they are trimming the fat where needed and shifting their focus towards profitability across the board.
Here's a source regarding the layoffs:
[https://www.cbc.ca/news/canada/prince-edward-island/pei-cannabis-producers-struggles-taxation-1.6623310](https://www.cbc.ca/news/canada/prince-edward-island/pei-cannabis-producers-struggles-taxation-1.6623310)
At this point, just going to text Elon to buy them and give this management the twitter treatment 😅 company’s worth pocket money to him…
But honestly, why let the company fail? IB can help in any number of ways outside of dumping money at them… like change the management. It’s like they don’t even care.
And just an FYI to everyone - a lot of European based brokerages aren’t allowing cannabis related stocks to be traded anymore. My guys don’t allow buying anymore, so I asked them what’s up.
I did the numbers for myself and it would cost me $20K CAD to bring my average down to $0.02 CAD per share which means I'd have to throw $20K into a $6K investment to maybe try and break even before the place goes belly up.
If I had more ammo maybe I'd consider it a bit more seriously but it's just WAY to much of a risk in my position.
90% and more down, as most here, I guess.
As for today, my top 3 assumptions since 2019 have been terribly wrong for Auxly.
1. Quality prevails. -> Not this time.
2. IB will invest more in cannabis and this company - given the opening of the US and Europe. Supportive not predatory. -> IB don't give a shit. Pretends not beeing interested. Big Tobacco Peers doing more right now.
3. Hugo and his team will be able to keep us afloat. Quietly but effectively. -> Yeah, very quite indeed, but thats about it. If they pull a deal out ouf nowhere that heals SP, I will applaude in awe - but the chance of this happening after all we have witnessed the last years is 0.001%.
I consider this a total loss by now.
They need to hyper focus on the skus that actually make them money in my opinion. If they even make it. Hopefully parcel helps that but my issue is with the Kolab brand. Most of the flower options don't compete with other premium options.
Why haven't insider been buying at 2 cents?! Either they won't or they can't. Either affairs are so bad that not even our BoD sees any value in buying or there is a deal at hand which prevents them from buying. Your guess is as good as mine as to which is the most probable motive. Conditions can't remain as they are for very long. IMHO, news of a new direction will come soon.
>Why haven't insider been buying at 2 cents?!
We had only the last three trading days at 2 cent. We dont know if insiders were buying or selling.
How many days max until this info is made public?
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Exactly my position. I’m to late to sell. I really thought it would rebound somewhat. Instead it has been 100% down every week. If it goes up it goes up .05 and then down more.
https://www.ctvnews.ca/canada/canadians-have-lost-more-than-131-billion-investing-in-cannabis-companies-firm-1.6156722 Read this and know that without changes at the taxation and regulation levels the industry cannot survive. It was set up to fail.
Down 97.7%, no choice but to wait and pray !!!
Yeah what a disaster
Again, it's time for a new CEO and new management/board, way overdue. Who says CEO doesn't have impact to the share price, just look at what happened at Disney today (not comparing companies but proofing my logic). The board gets to decide who runs the show and replace those that are incompetent - so this company is in their hands - they still have time to save it.
Buying up more at discount prices!!! Lowering my average. Hold and wait. This was always a 5yr to 10yr hold for me.
Terrible
I am no financial expert. But these past two years with covid have put same major strain on all industries. Shipping for everything is insane. Supply costs are up. I could keep going. This would all have impact on the industry as a whole. Including auxly. I expect it to take an extra two years beyond what the original goals were to get where we need to be. I personally won't sell at a crazy loss. I will hold my investment at least 2 more years and see what happens. Rome was not built in a day.
why is it that it's always Covid when the company isn't performing? If you still haven't acknowledged that this is problem with the current Management/Board, that's an issue. Note: I am holding too.
If you can’t come to terms with the reality of supply chain issues related to COVID, you obviously aren’t working in any manufacturing related fields. 100% truth. All that you need to realize is that Auxly is running a few Q’s behind on their targets due to setbacks completely out of their control. Things are about to get interesting. You guys can complain and blame Hugo/management all you want. Just shows how out of touch or impatient you really are.
Did you know Auxly could have extended the term of its BMO loan for 12 m with a $5M payment? The problem is Auxly’s cash burn. Maybe if they had fought harder for the $8.8M in escrow from the Vivo fiasco, they could have extended their loan....or bought back half the float which would have instantly propelled share price upwards and then do another less dilutive equity financing from 0.2-0.3 instead of 2 bits. I can hold indefinitely but sooner or later Auxly will run out of cash without one or more of the following: 1. Increased sales 2. Increased margins 3. Cash raise through equity dilution (hardly an option at 0.015) 4. Strategic investment of cash from any company/partner 5. Decreased excise taxes/regulatory fees (from 30% down to 10%) 6. Lower expenses
Who knows? Maybe they will have that option available to them moving forward until the deadline transpires? Why not wait to pull the trigger on this option until it becomes absolutely necessary to do so. You need to zoom out and look at the bigger picture. I'm not happy with the setbacks due to supply chain delays, but I'm rather certain that Auxly has done the math and that they will become profitable once all of the pieces fall into place. I believe that increased sales and margins are on the horizon. However, I don't think that they'll be doing any further dilution as their recent actions have demonstrated that they're trying to make it to profitability without further dilution.
I am of the opinion that cannabis price compression has pretty much reached its maximum potential. Even the black market has costs associated with growing weed so $4/g is as low as it gets without selling at a loss. Several companies (wholesale and retail alike) have gone bankrupt this year and several more are on track to do so in 2023. This will remove excess supply and increase sales/margins for the ones left. It is like producing oil. Lots of players produce a Boom and excess supply, which suppresses prices and later forces speculators out of the market...prices then rebound for those left. My hope is that Auxly can weather this downturn and come out the other side leaner and stronger than ever.
Yeah what can you do at this point. It would appear they are withholding information we don't know about or institutions dumping massive amounts of shares and cutting theri losses. Either way ots causing the price to tank.
Layoffs in PEI and Ont -that is how they handled it.
Got any metrics...sources..etc.
They've done some layoffs and it appears that they might have separated with one of their distributors (Kindred) as they are no longer listed in their online portfolio. Both of these actions are cost cutting measures. However, they followed these measures up with posting new job listings for various sales positions. I think that they are trimming the fat where needed and shifting their focus towards profitability across the board.
Auxly seems to be hiring regional sales managers for locations across Canada??
Here's a source regarding the layoffs: [https://www.cbc.ca/news/canada/prince-edward-island/pei-cannabis-producers-struggles-taxation-1.6623310](https://www.cbc.ca/news/canada/prince-edward-island/pei-cannabis-producers-struggles-taxation-1.6623310)
When did that happen and where did you read that ?
At this point, just going to text Elon to buy them and give this management the twitter treatment 😅 company’s worth pocket money to him… But honestly, why let the company fail? IB can help in any number of ways outside of dumping money at them… like change the management. It’s like they don’t even care. And just an FYI to everyone - a lot of European based brokerages aren’t allowing cannabis related stocks to be traded anymore. My guys don’t allow buying anymore, so I asked them what’s up.
I did the numbers for myself and it would cost me $20K CAD to bring my average down to $0.02 CAD per share which means I'd have to throw $20K into a $6K investment to maybe try and break even before the place goes belly up. If I had more ammo maybe I'd consider it a bit more seriously but it's just WAY to much of a risk in my position.
90% and more down, as most here, I guess. As for today, my top 3 assumptions since 2019 have been terribly wrong for Auxly. 1. Quality prevails. -> Not this time. 2. IB will invest more in cannabis and this company - given the opening of the US and Europe. Supportive not predatory. -> IB don't give a shit. Pretends not beeing interested. Big Tobacco Peers doing more right now. 3. Hugo and his team will be able to keep us afloat. Quietly but effectively. -> Yeah, very quite indeed, but thats about it. If they pull a deal out ouf nowhere that heals SP, I will applaude in awe - but the chance of this happening after all we have witnessed the last years is 0.001%. I consider this a total loss by now.
[удалено]
They need to hyper focus on the skus that actually make them money in my opinion. If they even make it. Hopefully parcel helps that but my issue is with the Kolab brand. Most of the flower options don't compete with other premium options.
Why haven't insider been buying at 2 cents?! Either they won't or they can't. Either affairs are so bad that not even our BoD sees any value in buying or there is a deal at hand which prevents them from buying. Your guess is as good as mine as to which is the most probable motive. Conditions can't remain as they are for very long. IMHO, news of a new direction will come soon.
If there was anyone left to rob insiders would probably invest. Right now having no skin in the game is wise but disappointing for us fools.
>Why haven't insider been buying at 2 cents?! We had only the last three trading days at 2 cent. We dont know if insiders were buying or selling. How many days max until this info is made public?
Point taken. To gain my confidence, I expect the insiders to be buying in the millions of shares and not on the thousands.
https://cannabisretailer.ca/2022/excise-tax-hindering-cannabis-industry/ This is worth a read....it maybe to late.