if you read their 4B and 4C, THC only have $4.7m in the bank,...

if you read their 4B and 4C, THC only have $4.7m in the bank, and raised $3millon, the total is $7.7m, not sure where did you get it to $13m. THC cash out flow is $1.45m-$1.85m per qrt, so, its cash reserve includes the SPP only can keep it running for 1 year. It needs a) cash to keep the company running, 2) cash to develop their plan. To make it into production, it needs at least $50-$100m to develop, where it can find that sort of money? SPP. At least, it will need further raise a minimum $50m if it is serious about its plan, while that will dilute the SP value further.

And don't get me wrong, on research and production development, CANN is much advanced than any other weed companies in Australia, and CANN and THC are not in the same league, its kid of like a TAFF try to muscle up with Sydney university.