Whats the case for it being a good buying opportunity? Im trying...

Whats the case for it being a good buying opportunity?

Im trying but really the revenue of the last year being 41k and the loss has been $10 million. Staff and admin costs averaging 1.1 mill a quarter. Maybe staff gets paid until its run into the ground? Its sad to see these cannabis stocks that started with a good vision turn to this, not even close to the original vision, and huge amounts of money thrown to ideas that amount to nothing like the whole pharma stint with the hardshell capsules, havent been following closely but has that just gone to nothing? Millions were spent on this.

So now it valued at 40 million, with 13.6 mill in cash, losing on average 2.3million a quarter (based on quarterlies last 2 years), no cannabis operations, and making sales of 17k last quarter, not even covering the salary of one staff member. Basically looking at a 1.5 years before money runs out, expecting a CR within that time, not sure who would want to give money to these guys anymore.



Would love to hear any opposing views and a bullish case, Im sure there will be some good trades to be made under 10c just based on price action, but seems like the hopes of it seeing even 30cents again without a dramatic change in the business model is pretty unlikely. Look at the above chart, the only big moves in the last 2 years was the overseas news of UN and WHO rescheduling cannabis and US house of reps passing MORE Act, all cannabis stocks pumped on this news, now with AC8 not really even a cannabis company wonder if it will even react to these moves.

I think with all the cash at bank they have, $13.6 mill last quarter, budget 2 million to an outdoor grow, apply for license from ODC, get some crops going. It would generate interest back, vertically intergrate, can use the cannabis for own products, and then start branching out into other areas like cannabis 2.0 products like edibles, etc. This little bit of action would get AC8 back in the game, an outdoor grow is cheap and can produce a lot, can be back in the game as a cultivator in no time.

I notice some poster above claimed that all weed companies were at lows, however its not the case, check out LGP, well run cannabis company here in Australia, but even so AC8 cant really be classified as a weed company anymore, what cannabis operation do they really have. Its more a pet food company thats losing money. So again I ask genuinely whats the case for it being a good buying opportunity?