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CannTrust Holdings Inc. (CTST)
NYSE - Nasdaq Real Time Price. Currency in USD
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after today, only three more business days till we reach out to our 80 thousand patients and start selling products. This will be step three in the process of the march to profitability. Its very possible another company scoops us up if not to own our licenses to sell in every province plus our patents and our growing facilities. .30 cents will be a fading sight in the rear view mirror.
October first is the projected time of beginning to sell products. I will be looking at their website to see if that happens. Lots of mixed messages about pot sales in Canada but trajectory is up, Covid or not.
I remember when this stock took a serious jump in the past after they lost their liscenses I believe it will happen again I reviewed the bills owed by the company. About 3.5 million. That should not be a problem when sales begin
When do they start selling? I reached my 100K share goal today now just looking for a few bucks to make up some substantial losses. Should be a lot sooner than any ambulance chaser.
just trying to brainstorm here.. not trying to be smart or start an argument... and note that what happens in the future doesn't have to be logical or fair... it can play out very differently than anticipated..
anyways so rest of this argument is a very rough quick estimate not precise..
i think it is very difficult if not impossible to quantify the lawsuit...
plaintiffs are seeking to recover their losses therefore judge is tasked to quantify their claim.. I don't know how else this would be resolved so they want compensation for their loss.. but how much are their losses?
I think the fair estimate should be calculated as follows.. all amounts are in US currency..
the stock was trading at around $5 just before the news broke out back in July 2019... once the news become a publicly known information.. I think anybody owning the stock has had 2 options... either sell as reasonably soon as possible or hold it....
if they decided to hold the stock, I think they have lost the argument.. I think you have the obligation to minimize your loss as soon as you become aware as a shareholder even if you are 100% right in your claim... there are many examples of this in law..
if they had sold it within a month and by the way I think one month time frame is pretty generous, their loss should be based on that amount... stock went down to around $2.20 at the end of July... at that time CT had about 150 million shares outstanding... I don't know how many of those shares sold in July by the people who were owning the stock before July 7, 2019 but whatever that number is, it should be multiplied by the decline in stock price which was roughly $2.5 to estimate their losses.. and that is a pretty generous amount.. as we all know stock price movements are usually overreaction to news, positively or negatively... I don't know how they come up with their current claim of $500MM but $500 MM seems a bit too much... that is roughly half of the market cap at the time.. I think 1 month time frame is pretty generous as well as $2.5 decline in stock price to estimate the loss... but I know some will argue why not whole year why not $10.. those are all subjective opinions.. and if I remember right current lawsuit span covers investors owning the stock from 2018 to September 2019... which is a bit too long...
one more note... again I might be wrong as I am going with the company releases which may not contain enough.. apparently suspended the licenses for the deficiencies they found at the facilities.. not because CT grew cannabis in licensed rooms.. of course unlicensed rooms played a role in the decision but main reason for license suspension is to correct the deficiencies found... so this is another thing to consider...
Question: People use different trading companies like E*TRADE, Fidelity, etc..... I use E*TRADE and on the snapshot page there still has not been a post down in the “headlines” section about Canntrust getting their licenses back. So let me ask all of you who use different platforms, has your platform posted anything about the licenses on its Canntrust stock page?
congrats guys, this is the best performing cannabis stock today! woohoo
Sales to resume shortly
South Park ReefMan
TD Ameritrade users - any one here able to buy Cnttq and is there a fee ?
Further moves by management towards moving the company closer to obtaining listing qualifications
Keeps the hope alive !!
"CannTrust Holdings Inc. ("CannTrust," or "the Company") today announced that the Ontario Superior Court of Justice, Commercial List, granted an order in the Company's proceeding under the Companies' Creditors Arrangement Act ("CCAA") extending the time for CannTrust to call the next annual meeting of its shareholders to a date 120 days following the completion of its CCAA proceeding.
The forward-looking information and statements in this news release include statements relating to the planned restart of manufacturing operations and the expectation that CannTrust's cannabis product will be available in the Canadian medical and recreational markets in Q4 2020. Forward-looking information and statements necessarily involve known and unknown risks, including, without limitation: the outcome of the Company's contingent liabilities; the impact of potential regulatory investigations; the Company's review of strategic alternatives; risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States and elsewhere; the cannabis industry in Canada generally; the ability of CannTrust to effectively resume its cannabis growing, process and packaging operations, the ability of CannTrust to implement its business strategies, and the potential impact of the COVID-19 pandemic on CannTrust's customers and patients, the financial viability of the Company, and general economic conditions.
It’s a super lawyer on the case her objective is to put all investors who purchased stock from the specific dates mentioned in the class action back to their original state if you purchased after September 17 2019 her argument doesn’t represent you and still doesn’t mean everyone else is in the clear.
so I h ave 41.5 k shares @ a price of 24.5 k roughly. this was trading @ the $ 5 range before news broke. at this point its not if but when. there is no selling company no bankruptcy. I see this going back to 5 to 6 rather quickly. 6 bucks put me @ qrr. mill. be rather hard to hold @ that point. but its going to take time still got the 120 days after CCAA oct 31 2020to conduct annual meeting. GL Longs.
South Park ReefMan
pricing in the 0.27 range, getting closer to the buy level, the boat is ready to load back up.
Reason for not filing FS isn't because of cost:
In order to comply with these provisions, CannTrust would have to:
(a) revise the 2018 Financial Statements;
(b) complete the restatement of the 2019 Q1 Financial Statements;
(c) complete the 2019 Year-End Financial Statements including the restatement of
the 2018 comparative figures and have those audited; and
(d) complete the four Outstanding Quarterly Financial Statements and the
quarterly financial statements and related MD&A for the period ended June 30,
CannTrust estimates that the approximate cost of preparing financial statements, if it
were required to do so prior to the deadline, would be $300,000-$400,000. C
There you go. Some ppl on here were saying the cost would be millions. Not so. Less than 400k CDN. Obviously, they aren't filing them b/c of lawsuits. That's the only reason.
Doesn't really change the situation, but I always found it frustrating that ppl would say 'the books are soooo complicated' etc etc.
I have stocks listed still under trst.to what are my options? Do I hold or transfer to cnttq under the pink exchange?
Today’s CNN business - 12 months price forecasts for CNTTQ target of $9.19, +2,961.89% increase from the last price of 0.30.
Oversold, once they start getting revenue back on from relicensed operation it will only be a matter of time until we're back on a major exchange. Look at the market cap of ACB they have a very similar sized grow operation and that's the best comparable. That's the market cap we will hit when we are at 100% capacity selling product and relisted. Crazy gains possible if we just have PAYtience.
ok I figured it out. so ccaa itself doesn't wipe out your shares, but restructured company has a option to sell more shares at shareholders cost or issue a new common stock. the reason why shareholders are last on the list is because by issuing new common stock you can get relisted almost immediately.( way above 1 dollar requirement )but if canntrust decides to sell more stock it will cause delution and they would need huge buying power to get back on track. a lot of people lost money here including me, but these just a facts that we all need to be aware
Company website loaded with job openings...flying soon
If you are restructuring under CCAA, there is a slight chance those shares could retain some value."
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While there may be that chance, it's so minuscule that most experts scoff at the notion of buying the shares of restructuring companies.
"It really is quite baffling, because in virtually every case the equity holders get wiped out," says Steve Foerster, a professor of finance at Richard Ivey School of Business. "This isn't a mystery, that's just what happens."
Once the first harvest is sold CCCA will end with a settlement paid with cash and a nice steady price incline to follow. I visited Ontario CA last year in August time frame nothing was in place yet to sell headshots and such. Once the country catches up to the law change to the moon we go
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