The 4C is excellent in terms of gear revenue (substantially higher than almost anyone else in the cannabis space except EOF and EXL).
The challenge for THC is the possibility of blowing all their cash in this quarter and needing to do a capital raise before the end of the quarter (31/3/20).
THC has $4.028M at the beginning of the quarter in the bank.
They burnt $2.571M in the course of business for that quarter.
This would have left $1.457M in the bank had it not been for dilutive financing of $2.103M by converting some options to shares and capturing the incoming money from here.
This does mean if in the Jan-March quarter they similarly burn a further $2.5m or more, the company really is in tiger territory with regards to having to a further capital raise.
We are currently in a particularly challenging environment for raising money for the purposes of cannabis businesses with most companies offering a 15-20% discount to list price for secondary raisings.
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- Ann: THC Global Quarterly Update & Appendix 4C
Ann: THC Global Quarterly Update & Appendix 4C, page-22
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