Canada markets close in 3 hours 31 minutes

CannTrust Holdings Inc. (TRST.TO)

Toronto - Toronto Delayed Price. Currency in CAD
Add to watchlist
0.91000.0000 (0.00%)
As of 4:00PM EDT. Market open.
Sign in to post a message.
  • B
    Bob
    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...
  • G
    Gra$$ Hopper
    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.
  • H
    Harold
    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.
  • G
    Gball
    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.
  • A
    Andrew
    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,
    2020.
    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
    Ievgenii
    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
  • F
    Fil
    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
  • t
    taco
    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.
  • M
    Matt
    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.
  • g
    gatubhai
    Company website loaded with job openings...flying soon
  • C
    Chris
    AGM has been delayed 120 days past the end of the CCAA situation.
    CCAA ends October 30th as listed in the monitors report.
    CCAA does not end October 20th as someone said in here.
    So talking to shareholders is not a priority at this point.
    They have to release financials at the shareholders meeting and they are not ready for that yet.
    Understandable, financials would be a game changer.
    CTST is not ready to take that yet.
    You know once finacials are released during the shareholders meeting the (CTO) cease trade order will be lifted and the Canadians will be order to trade.
    Sheeeeesh !
    Soon will know it all !!
  • B
    Bob
    not sure what the ultimate goal of those lawsuit plaintiffs is... current state of the company will not compensate for none of their losses... if they take a long term approach and let it survive, they may potentially recover most of their losses... and this is true for all cannabis investors who invested last year.. not just for canntrust investors.. having said that US and Europe need to legalize cannabis to reach its full potential.. which is a matter of time..
  • B
    Buster Scruggs
    It's been so long I can't even remember.. did canntrust plan on getting into cbd infused drinks before all this happened?
  • G
    Gra$$ Hopper
    be ready once it sets sail it will go quick. I'm not pumping just stating fact. I hope all my long bro/sis do well. we deserve this been thru it all with this. only pain I wish is on a shorty. lol you know them.
  • C
    Chris
    I heard about this today.

    Canntrust holdings
    September 10th,2020

    PRNewswire
    Canntrust today announced that the company is seeking an order in its proceedings under the Company's Creditors Arrangement Act (CCAA) extending the time for canntrust to call the next annual meeting of shareholders to a date 120 days following the completion of the company's CCAA proceedings.
    The motion is scheduled to be heard before a judge of the Ontario Superior Court of Justice, Commercial List, on September 16th,2020 at 12:00 pm, judicial videoconference via Zoom due to the Covid19 emergency.

    Details by the courts monitor:

    https://documentcenter.ey.com/#/detail-engmt?eid=370

    I had to write this out because I'm not good with computers.

    This has got to be posted on the news somewhere so someone will route the whole story here.

    Any news about canntrust is important because we don't hear much !!!!!
  • S
    South Park ReefMan
    Sept 2020 Monitor report is released
  • r
    robert
    CannTrust has now satisfied regulators that the Company meets all regulatory requirements. Health Canada has now reinstated both our Fenwick Perpetual Harvest Facility license and our Vaughan Manufacturing Facility license. At this time, our operations teams are now in the process of recommencing full operations across our business. While we cannot provide an exact time-frame for products being available in the market, we are targeting Q4 2020 to have products available for sale. As we resume operations, we look forward to regaining the trust and confidence of our shareholders, patients, customers and partners
  • D
    Dan K
    There still seems to be some persistent misinformation and lack of knowledge that may be crucial to people’s investment decisions and the time horizons around expectations.

    The class action alleges that when the falsity of the information was revealed, the price of CannTrust securities dropped significantly, causing damages and loss to the Class Members. The action seeks relief for alleged misrepresentation (under the common law and pursuant to Ontario Securities Act), negligence, oppression and conspiracy.

    While the lawsuit has been filed it hasn’t been certified. But the primary reason it has not been certified is because the company filed protection under CCAA before it could be certified and the CCAA provides a stay of proceedings. Certification for those that don’t know is a determination by the courts that a lawsuit is the best option for people to recover damages if proven.

    This is one of the intents of CCAA to provide time to work out settlements and disputes and keep companies from going bankrupt and as an ongoing concern.

    Based on the grounds of the suit there is very little doubt as to the culpability of the actors. There may be proportionality issues but the simplest view is they grew unregulated weed and claimed it was all regulated. When it was discovered that they did this their stock went down and after investigation resulted in losing their licenses.

    The class action has been filed to the Ontario Superior Court of Justice on behalf of all investors who acquired CannTrust securities on TSX from Oct. 1, 2018 to Sept. 17, 2019, as well as all investors who acquired CannTrust securities during the company’s May 2019 prospectus offering.

    The consortium to which the Court has awarded carriage is comprised of the law firms Henein Hutchison LLP, Kalloghlian Professional Corporation, A. Dimitri Lascaris Law Professional Corporation and Strosberg Sasso Sutts, LLP.

    The courts did not go appoint the law firms, out of the law firms that filed lawsuits some were rejected because conflicts of interest.

    And...while we are at it, what about the lawsuits filed in the US through NYSE and Sec regulations?
  • L
    LarryLong
    How much $$ did CannTrust make selling illegal weed? Without the CRA taking their cut?? Also do you think the cash was divvied up between the CEOs and execs or run through the company??
  • r
    robert
    This company is not in bankruptcy and shares won't be wiped out. CCAA is a organized method which settles disputes and will lead this company to be relisted on stock exchange, become profitable and rise in prices