Of course it won’t work. They fired all their staff who started developing it. They aren’t a tech company. They are a bunch of agros in Washington state, working out their buyout, with some leased bare fields in Oregon, managed by a CEO in Perth and losing millions of dollars a year with a small and declining revenue.
CLI have never announced the costs of growing and processing their hemp, but I don’t think they have ever announced the expected revenue either ( I’d suggest they are well aware that they can’t know their yield on their first attempt at growing hemp, there are huge risks and they can’t be assured of price with the surge in supply coming in this year) The revenue estimates have all come from paid promotional ‘articles’ using snippets of info from their paid ‘research’ to extrapolate a revenue estimate. They want us to fill in the gaps using old market prices. Next there will be a price sensitive announcement that they’ve agreed to terms to acquire an irrigation system.
It has all the signs of a pump and dump in my opinion.
CLI Price at posting:
3.0¢ Sentiment: Sell Disclosure: Not Held
