Yeah I dont get the decision making in totally scrapping the Tasmanian operations, we got licenses and a farm, application with ODC to expand, it seems like a rushed decision. Hell if I had the funds I would buy it, market cap was 20mill + without Murray Meds not that long ago, so surely sale should be getting 5-10 mill?
They could just close down the hemp side of things and focus totally on cannabis even in Tasmania. The idea of Alex selling it off to his mates or fam under market value is infuriating, hes done the best out of ECS by far, renting his own properties, free shares for his 'performance', whilst not one person who invested in the raisings are in profit, but hes been paid a nice salary for years. If he now has done all the building and r&d , licenses, regulatory necessities, on the shareholders dime, and then goes and sells a well oiled business on the verge of being cashflow positive to his friends/fam well under market value would be borderline theft. Should be on market sale available to everyone, would like to know exactly what assets are being sold, property, licenses, brand, etc?
The Tas operations also had the benefits of spreading risk of outdoor grows going wrong, and like others have pointed out, Alex continuiously said Tas had apparently perfect conditions to grow.
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