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SLANG Worldwide Inc. (SLNG.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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0.1250-0.0150 (-10.71%)
At close: 03:59PM EST
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  • D
    David
    Here is some tidbits from my email from the new CEO/COB:

    Thanks for your note.

    We have an earnings call coming up, so it wouldn’t be appropriate for me to be too specific; however, as you know we just closed $17mm financing with 50% of that is to begin to expand the Vermont opportunity that was just closed in August.

    We’re assessing all our markets and products for ROI both short and long term.

    Our goal is to assure Slang can capitalize on its product/location mix while thoughtfully expanding into new opportunities as they present themselves, always with a positive ROI, driving all decisions.

    Another goal is to assure Slang is lean, nimble and profitable driving shareholder value and we’re working on that daily. It’s who we are and what we’re all about.

    I hope this has been responsive to your questions. Have a good weekend!

    Maybe the major shareholders of Slang were not satisfied with the direction of Slang and wanted quicker and better results and felt this was a time to do that,especially if they are going to expand. Trulieve mentioned about increasing scale and mutual success between Slang and Trulieve. I think this is what investors have been waiting for, a more meaningful relationship between Trulieve and Slang.
  • S
    Seleucus
    that decline in CO revenue and write-off of Oregon receivables was probably what signed Chris's exit. you can't let CO drop. especially to inventory mgt...which gets to the cultivation exit...I'd watch to see if they start buying weed from trulieve legacy Harvest production.
  • S
    Seleucus
    Gage, a company stronger than Slang, received a $55 million one-year loan:
    "The Term Loan bears interest at a per annum rate equal to the greater of 7.00% plus prime rate and 10.25%, payable monthly in arrears, with a maturity date of November 30, 2022. The Term Loan is secured by a first lien on all Company assets."
    https://finance.yahoo.com/news/gage-growth-corp-announces-us-141500851.html
  • C
    CRAIG
    Sales were good but the margins need work. I thing it’s apparent that Trulieve will be purchasing Slang once the margins improve. If you look at Yahoo Finance and read Trulieve’s company profile, it says they have a strategic partnership with Slang.
  • S
    Seleucus
    wow... check the press releases. I guess the other Dave was right about Oregon. love trulieve... we'll see how the market reacts to dilution
  • S
    Stimey
    If you add back the cash used in the HiFi acquisition - the cash burn was not that bad. I personally think they are not trying to facemask the situation. I don't like how many times Truelieve was mentioned in this release, but hey - sometimes the handwriting on the wall has to be printed multiple times.

    Guys, the best we can hope for - is that they are going to try to bring Slang to it's full potential while still maintaining it as a separate company.

    The 2nd best scenario will be for Truelieve or another to acquire Slang and offer a Fair Share Settlement.

    The 3rd and worst scenario is for this new leadership team to intentionally drive it in the ground for a takeover while not caring for current shareholders. If this happens - then just know one thing - its been planned from the beginning. I hope I am wrong.

    Will see.
  • D
    Donald
    truelieve is gonna own those vermont licenses in 6 months
  • A
    Anonymous
    The company lost 6 million dollars on 10 million dollar of sales.
    Tell the CEO of the company that for every $10 of sale you lose $6 dollars out of your pocket.
    The loss is not one cent's per share, Rather it is 160% of sales.
    This is not shareholder's value At all ,rather it is management value( Management monkey business).
  • D
    David
    Just received the Greentank Vape report for Q3 2021 and O.pen leading brand Q3 20 and Q3 21 in Colorado. Total units sold entire state increased from 3.1M to 3.2 million units for all brands. Stiizy leading brand in a few states. Evolab (Trulieve) commands a 31% of the disposable marketin Colorado.
  • A
    Anonymous
    1-SLANG Worldwide Enters Vermont Market Through Closing of High Fidelity Acquisition.in August.
    2-SLANG Worldwide Enters Massachusetts Through Strategic Partnership with Trulieve. in September.
    3-SLANG Worldwide Enters West Virginia and Pennsylvania Markets Through Strategic Partnership with Trulieve Cannabis Corp.in September.
    4-SLANG Worldwide Announces $17.3 Million USD Financing from Trulieve Cannabis Corp., Pura Vida Investments, and Seventh Avenue Investments and Executive Leadership Transition.Nov16,Today.
    just connect the events :Trulieve Cannabis Corp will take over once the new MGT and the new opertations are established.
    5-"Our investment in SLANG underscores the success of our strategic partnership, as well as our commitment to providing the trusted and reliable brands our customers rely on," said Kim Rivers, CEO of Trulieve. "Since beginning our exclusive partnership in Florida, we have been able to bring SLANG to additional markets, expanded into wholesale, and now look forward to continued growth at scale and mutual success as we strive to provide our customers with the highest-quality products and unparalleled experience they can expect at Trulieve."
  • D
    David
    Sold my car today and bought more Slang under .10 as I wanted. thanks guys for unloading all your shares this morning. Maybe im really high. Some good stuff.
  • J
    Jason and Georgia
    So this note they have to pay back is: 17.3 million at 9.75 compounded quarterly.
    That’s about 10.3% APY.
    So they will have to pay back about 23.21 million.
    If they can keep the dammed doors open, that’s doable.
  • M
    Mister
    Guys, the new CEO is an expert of liquidating plan and restructuration. You really think its going up again?
  • A
    Anonymous
    Management compensation including the board of directors of the company are taking the biggest cut of the company's profit.
  • P
    Pat
    Well a little bit of green at opening
    Let's hope the dust has settled
    Waiting for Wednesday to get a line on this new ceo
    Unfortunately I reside in Kathmandu Nepal so I hope those who are able can grill him on the conference call for want of TRUE direction and relevant details on future of Slang...best to all in an unsettling situation
  • M
    Miro
    Something doesn’t add up all directors get canned when they participated in the High Fidelity financing. The only people left apart of that financing are Executives: Mikel Rutherford and John Moynan

    August 11 2021
    Chris Donnelly, Chris Driessen, Kelly Ehler, Keith Stein and Robert Verdun where all in on the High Fidelity Financing and all get terminated.
  • P
    Patrick
    Been here since Jacob did the run down on Slang. I’ve always been long term on this one, some silly stuff going on with poor management, seems that changing the management is what was needed. This acting CEO sounds like he is the guy that’s cleans up these kinds of messes. Growing pain maybe, I think their strategy is sound, assuming it’s genuine. Their partnerships with credible power houses are mutually beneficial. Bargain prices right now, get that average down, this will work out. Maybe. ☺️ I mean what’s the worst case? If they dilute the shares, buy more. Maybe a take over? Selling at this point is an absolute loss, this very well could come back. Whats the rush anyway? Sit on it, once federal legalization and safe banking goes through, things will inevitably take off again. Go try some crypto if you wanna stress out about ups and downs. Madness over there! Anyway, maybe I’m just optimistic. Wonder what price will at opening Monday 😖 Have a good weekend everyone.
  • H
    Haider
    Keep up the positivity guys! I agree this stock will one day pop up. I've been a long term investor unfortunately buying at a big hype so I'm down, regardless I have faith in the long run! :D
  • P
    Pat
    3rd quarter results
    10am Wednesday 24th November
    Let there be some good news!!!
  • J
    Jeff
    Anyone have a synopsis of what was said on the call?