The Spyglass, page-553

We just did $13.2 million of NPAT and borrowed $10 million. We also undertook a $50 M acquisition to be paid off in 4 years.

Imagine you are Eric and Barry.

Are you going to fork out $4 or $5 million on a non-accretive to earnings expense like listing on an additional market (particularly in this precarious macro economic environment)?

Or are you going to stick to your knitting, do the thing you do best with the available capital, and commit to building your asset base, pay down the debts, and emerge in the next market cycle a strong revenue producing high horsepower earnings engine that you can THEN, and only then, float on the NASDAQ as a true contender, rather than a hobbling wanna-be beggering for exceptions to the listing rules?

Because I’m pretty sure the plan is the latter.

i can see that day, a few years down the road when the textile deal is fully digested, them going on a massive roadshow through the US and Europe and Asia with a secondary issue for the NASDAQ listing which will provide a war chest for the next phase of Ecofibre’s conquest of all things hemp.

Trying to list now would bring nothing to the table, and spill treasure for no accretive purpose.