Thank you for tat Carnival. IMO, the salient issue is poundage and the price/revenue was always subject to market. The gaps in the crop whether caused by pests or male plants are also material achieving the targeted 900K lbs of dry biomass as per the company's forward guide. The price of Biomass could be tracked by shareholders but progress of crop towards the 900K lbs was always within the responsibility of CLI and it had a responsibility to report any crop issues to the market when it could be reasonable known that that target would not be met, IMO .
Instead the company continuously reported a good crop to the market since the storm/hail scare in August.
Last Friday's ann said that the plants produced just over 1 lb/plant dried biomass which means that only 400 plants were harvested; not over twice that as minimally expected.
CLI Price at posting:
3.1¢ Sentiment: None Disclosure: Held
