Diskussion zu SpeakEasy Cannabis Club Ltd. (Seite 409)
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ISIN: CA84730M1023 · WKN: A2JHMZ
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Antwort auf Beitrag Nr.: 71.143.608 von Wheelchairmann am 18.03.22 21:22:23Ich auch..
Habe ich eben gerade per E-Mail erhalten
SPEAKEASY CANNABIS CLUB LTD.
NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES
COMPANY PROVIDES UPDATE TO SHAREHOLDERS
ROCK CREEK, BC – March 18, 2022 - SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or “SpeakEasy”), a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act wishes to provide an update to its shareholders.
Introduction
We would like to take this opportunity to provide an update and communicate to our Shareholders the Company’s path forward. Over the last couple of weeks, we have received emails, phone calls and messages raising concerns over the general health and direction of the Company.
We understand your frustration, this time has been extremely challenging for everyone, but we are working tirelessly through this phase to find solutions.
Your concerns have not gone unheard. We have categorized the most frequently asked questions into 4 segments: Current Operations, Cash Flow Constraints, Why Was SpeakEasy Been Halted, and Corporate Restructure.
Each segment will answer any questions to our best abilities, without releasing material, undisclosed information.
Current Operations
With the issuance of the press releases issued in February, 2022, these do not impede the Company’s ability to perform its daily operations. It is business as usual at the Cannabis Complex facility at Rock Creek.
The SpeakEasy team has been and will continue to work on, processing purchase orders to meet monthly demands and shipping deadlines. We’re excited to have started 2022 with a milestone achievement of increasing our sales by 100% from the previous month (see Press Release, February 11, 2022). Based on our sales projections, with no additional vendors, SpeakEasy anticipates to continue with a healthy revenue stream and strong profit margins through to the summer of 2022.
As we navigate through this difficult time, our team has taken a more aggressive approach to product innovation, accepting new vendors and opening doors to international sales.
It is unfortunate that this halt came at a time where our monthly sales are increasing month over month. We hope that news of uninterrupted sales is a silver lining that brings a small comfort to our investors during this time.
We have started operations in our new 13,300 sq ft growing facility. Previously, our craft cannabis sales were capped due to capacity limitations, however, the additional facility will allow for the production of up to 350 KG of output per month.
Our craft cannabis sales were consistently sold out through 2021 based on capacity, and our current purchase orders have spoken for 100 KG of craft flower for the foreseeable future.
Our team has initiated the processing of the 2021 harvest into concentrates and production will continue to run at capacity.
Lastly, the Company is not now, nor does it have any plans in the near future, to file for bankruptcy.
Cash Flow Constraints
Although our industry is growing, we see many companies struggling with sales and cutting operating costs to free up their capital. The lack of traditional financing opportunities poses great challenges, especially when it comes to a business like ours.
The lack of traditional financing options means that we’re strictly reliant on sales to our vendors. Payment terms in our industry can mean that two slow months of sales turns into half a year without cash coming in. As our outdoor facility has only been licenced since April of 2020, and our extracts sales licence was granted in September of 2021, you can see how these delays would impact our business.
Cash flow constraints come with tough decisions. Our collective decision was to keep our production and output consistent and remain focused on B to B sales for the time being.
As many companies are experiencing similar pain points, new businesses are emerging to address these challenges in our sector such as invoice factoring and cannabis industry specific lenders.
Business development’s key focus has been proactively building relationships with these emerging companies. We understand the cash-flow constraints of today but also recognize them for future phases of business growth.
The Company is committed to exploring new financial tools while building strong relationships with other service providers to ensure we can scale our business into the next phase when the time is right.
As our purchase orders are being processed and new relationships are being secured, we anticipate our cash constraints being eased over the next few quarters.
Why The company Was Halted
On February 28th, SpeakEasy confirmed that it would not be in a position to file its audited financial statements and accompanying management discussion and analysis for the fiscal year ended July 31, 2022 and that the British Columbia Securities Commission confirmed it was not in a position to grant a further extension to the previously issued Management Cease Trade Order. The result was that SpeakEasy was issued a Cease Trade Order on March 2, 2022.
The delay of financials was first announced on November 25th, 2021 and up until February 22nd, the management team was under the impression that SpeakEasy would be in a position to file its required filings.
Key factors that contributed to this result were:
The lack of financing tools available.
Industry payment terms.
Third party scheduling.
The complexity of our financials.
Audit companies industry wide are experiencing staffing issues and Covid related challenges.
Corporate Restructuring
SpeakEasy has been a public company for nearly 4 years. These 4 years have been filled with many delays, hurdles, but most importantly growth. As our sales continue to increase and the potential for high-growth becomes a reality, we look to attract new executives that can assist on the corporate side of the business while leveraging their public market knowledge.
We are currently working closely with the auditors to finalize an audit completion process. Our top priority is to file the audited financial statements and accompanying management discussion and analysis for the fiscal year-ended July 31, 2021 and for the interim period ended October 31, 2021 and get SpeakEasy trading again. At this time, we do not have a clear timeline, as we are reliant on both the auditors and the other regulatory bodies.
Once the 2021 Year End financials are released, Q1, 2022 and Q2 2022 financials will be filed, and an announcement on the 2021 harvest output will follow shortly thereafter.
As we evolved throughout the years our founding principles and core values have been fortified. We have made SpeakEasy vertically integrated from a production standpoint. With sales continuing to increase, SpeakEasy is positioned with a competitive advantage due to its low cost of cultivation, and an on site extraction facility that allows the company to significantly reduce its logistics costs.
Many team members of SpeakEasy are also shareholders. Like you, their family members and friends are also invested in SpeakEasy. We started as a family owned business, and we are committed to pushing SpeakEasy into this next phase for the shareholders, individuals and families that have supported us from the start.
We will not leave our investors in the dark. You can expect a weekly newsletter from our team that will detail business updates as well as answer any general questions that we have received from our investors during the week.
We thank you for your patience and continued support during this time.
NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES
COMPANY PROVIDES UPDATE TO SHAREHOLDERS
ROCK CREEK, BC – March 18, 2022 - SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or “SpeakEasy”), a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act wishes to provide an update to its shareholders.
Introduction
We would like to take this opportunity to provide an update and communicate to our Shareholders the Company’s path forward. Over the last couple of weeks, we have received emails, phone calls and messages raising concerns over the general health and direction of the Company.
We understand your frustration, this time has been extremely challenging for everyone, but we are working tirelessly through this phase to find solutions.
Your concerns have not gone unheard. We have categorized the most frequently asked questions into 4 segments: Current Operations, Cash Flow Constraints, Why Was SpeakEasy Been Halted, and Corporate Restructure.
Each segment will answer any questions to our best abilities, without releasing material, undisclosed information.
Current Operations
With the issuance of the press releases issued in February, 2022, these do not impede the Company’s ability to perform its daily operations. It is business as usual at the Cannabis Complex facility at Rock Creek.
The SpeakEasy team has been and will continue to work on, processing purchase orders to meet monthly demands and shipping deadlines. We’re excited to have started 2022 with a milestone achievement of increasing our sales by 100% from the previous month (see Press Release, February 11, 2022). Based on our sales projections, with no additional vendors, SpeakEasy anticipates to continue with a healthy revenue stream and strong profit margins through to the summer of 2022.
As we navigate through this difficult time, our team has taken a more aggressive approach to product innovation, accepting new vendors and opening doors to international sales.
It is unfortunate that this halt came at a time where our monthly sales are increasing month over month. We hope that news of uninterrupted sales is a silver lining that brings a small comfort to our investors during this time.
We have started operations in our new 13,300 sq ft growing facility. Previously, our craft cannabis sales were capped due to capacity limitations, however, the additional facility will allow for the production of up to 350 KG of output per month.
Our craft cannabis sales were consistently sold out through 2021 based on capacity, and our current purchase orders have spoken for 100 KG of craft flower for the foreseeable future.
Our team has initiated the processing of the 2021 harvest into concentrates and production will continue to run at capacity.
Lastly, the Company is not now, nor does it have any plans in the near future, to file for bankruptcy.
Cash Flow Constraints
Although our industry is growing, we see many companies struggling with sales and cutting operating costs to free up their capital. The lack of traditional financing opportunities poses great challenges, especially when it comes to a business like ours.
The lack of traditional financing options means that we’re strictly reliant on sales to our vendors. Payment terms in our industry can mean that two slow months of sales turns into half a year without cash coming in. As our outdoor facility has only been licenced since April of 2020, and our extracts sales licence was granted in September of 2021, you can see how these delays would impact our business.
Cash flow constraints come with tough decisions. Our collective decision was to keep our production and output consistent and remain focused on B to B sales for the time being.
As many companies are experiencing similar pain points, new businesses are emerging to address these challenges in our sector such as invoice factoring and cannabis industry specific lenders.
Business development’s key focus has been proactively building relationships with these emerging companies. We understand the cash-flow constraints of today but also recognize them for future phases of business growth.
The Company is committed to exploring new financial tools while building strong relationships with other service providers to ensure we can scale our business into the next phase when the time is right.
As our purchase orders are being processed and new relationships are being secured, we anticipate our cash constraints being eased over the next few quarters.
Why The company Was Halted
On February 28th, SpeakEasy confirmed that it would not be in a position to file its audited financial statements and accompanying management discussion and analysis for the fiscal year ended July 31, 2022 and that the British Columbia Securities Commission confirmed it was not in a position to grant a further extension to the previously issued Management Cease Trade Order. The result was that SpeakEasy was issued a Cease Trade Order on March 2, 2022.
The delay of financials was first announced on November 25th, 2021 and up until February 22nd, the management team was under the impression that SpeakEasy would be in a position to file its required filings.
Key factors that contributed to this result were:
The lack of financing tools available.
Industry payment terms.
Third party scheduling.
The complexity of our financials.
Audit companies industry wide are experiencing staffing issues and Covid related challenges.
Corporate Restructuring
SpeakEasy has been a public company for nearly 4 years. These 4 years have been filled with many delays, hurdles, but most importantly growth. As our sales continue to increase and the potential for high-growth becomes a reality, we look to attract new executives that can assist on the corporate side of the business while leveraging their public market knowledge.
We are currently working closely with the auditors to finalize an audit completion process. Our top priority is to file the audited financial statements and accompanying management discussion and analysis for the fiscal year-ended July 31, 2021 and for the interim period ended October 31, 2021 and get SpeakEasy trading again. At this time, we do not have a clear timeline, as we are reliant on both the auditors and the other regulatory bodies.
Once the 2021 Year End financials are released, Q1, 2022 and Q2 2022 financials will be filed, and an announcement on the 2021 harvest output will follow shortly thereafter.
As we evolved throughout the years our founding principles and core values have been fortified. We have made SpeakEasy vertically integrated from a production standpoint. With sales continuing to increase, SpeakEasy is positioned with a competitive advantage due to its low cost of cultivation, and an on site extraction facility that allows the company to significantly reduce its logistics costs.
Many team members of SpeakEasy are also shareholders. Like you, their family members and friends are also invested in SpeakEasy. We started as a family owned business, and we are committed to pushing SpeakEasy into this next phase for the shareholders, individuals and families that have supported us from the start.
We will not leave our investors in the dark. You can expect a weekly newsletter from our team that will detail business updates as well as answer any general questions that we have received from our investors during the week.
We thank you for your patience and continued support during this time.
Nun, meine Herren! @ibiza: meine Güte schleichen! Hier ist eine Nachricht von Marc: Hallo XXXX, die Verzögerung des Geschäftsjahresendes ist nur darauf zurückzuführen, dass der Wirtschaftsprüfer vor internen Herausforderungen steht. Sie sind unabhängig und wir haben keinen Einfluss auf sie. Die Verkäufe waren fantastisch und steigen von Monat zu Monat, und wir haben gestern unsere Lizenz für die neue Einrichtung erhalten. Hier gibt es keine schlechten Nachrichten XXXX, wir verkaufen uns gut und die Leute lieben das Produkt und den Preis. Markus
Das wäre eine gute Nachricht. oder?
Das wäre eine gute Nachricht. oder?
Trading Spotlight
Antwort auf Beitrag Nr.: 71.141.259 von Wuhan am 18.03.22 16:51:26Keine Sorge, Whoopy ist weiterhin dabei und natürlich optimistisch: Phoenix. Asche. 🚀
Antwort auf Beitrag Nr.: 71.140.743 von Parkettboden am 18.03.22 15:52:59Hast du es noch nicht bereut nicht verkauft zu haben?
Heute in zwei Wochen ist der 1. April.
Kommt da der JAB 20/21
Oder wäre doch der Mai ein besserer Monat dafür?
Kommt da der JAB 20/21
Oder wäre doch der Mai ein besserer Monat dafür?
Antwort auf Beitrag Nr.: 71.138.496 von Wolf-Wolfen am 18.03.22 11:39:352 Fünftel meines gesamten Vermögens verloren ????
Krass was hier leute Geld zum Fenster rausschmeißen. Von Startraderm, wie Marsimoto und Whoopy hört man gar nichts mehr. Obwohl die waren ja nur mit 5% vom Gesamtkapital da drinne. Es gab und gibt Leute bei denen ist wirklich Hopfen und Malz verloren.
Krass was hier leute Geld zum Fenster rausschmeißen. Von Startraderm, wie Marsimoto und Whoopy hört man gar nichts mehr. Obwohl die waren ja nur mit 5% vom Gesamtkapital da drinne. Es gab und gibt Leute bei denen ist wirklich Hopfen und Malz verloren.
Antwort auf Beitrag Nr.: 71.141.100 von runner86 am 18.03.22 16:35:29
Zitat von runner86: Ja, sorry mein Fehler.
Das Ende ist der 31.07.21
Und die erste filling deadline war der 29.November 2021
https://webfiles.thecse.com/SpeakEasy_-_Press_Release_re._MC…
Durchsuchen
