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@ Tcs & Cs,
The terms of the Riverfort loan was obviously full of holes wasn't it?...The loan and interest has now been converted twice into shares at less than 3pence... but read the loan RNS back in October, so one assumes that the company has been in breach of the 15% loan repayment arrangements? What vote of confidence was that then ? JMO Adyor!!!
.........The principal and interest of the Facility are payable in cash or can be converted at 9.884 pence following approval of the Circular
· 4,249,291 Warrants granted to the lender exercisable at 9.884p for 36 months, being a 40% premium to the 5-day preceding VWAP.......
..........the granting of warrants at a 40% premium to the applicable Reference Price shows confidence from the Lender in the Company........
https://www.lse.co.uk/rns/mezzanine-loan-and-posting-of-circular-rbqsnndk5v9r9nn.html
The loan rate seems more than fair but expansion of the facilities was planned to be achieved via sales. It would appear we still have nothing to sell, which is more than a tad worrying, but ,as stated, DD must surely have been done and an announcement about our first harvest imminent , or will it have been destroyed by an Attack of the spider mite? Meanwhile any early bird advantage is rapidly disappearing as rivals get their product grown and harvested. It is potentially a huge market but just look at the over supply in North America/ Canada : the same thing could easily happen/:is happening in Europe as there are a lot of alternatives to Held out there . As always DYOR and i would just start with the RNSs of the last 15 months here. Of course, time it right and some decent money could be made on a spike
Ok so then tell us with your finance experience where you would have acquired short term funding?
I'm not interested in your personal insults, I only deal in information that's either beneficial or not to the company. Riverfort loan was a total calamity for shareholders and information leading up to that point was at best amateurish or totally untrue? JMO Adyor!
Moniman you truly are a sad and pathetic little individual.
No wonder Riverfort took shares instead of cash...did they get tipped off about the announcement 🙄? Disgraceful imho and incompetent loan arrangements by Dav and the BOD considering all the bull crap prior to the Riverfort loan. Either a pack of lies or total incompetence from the BOD surely? JMO Adyor!!!
Really impressive funding terms. You have to assume a substantial amount of DD has been done so we can safely assume the facility and the crop are all looking good and on track. More funding lined up so it should go from strength ti strength now
Fantastic news. Not often you see a little old £3m Mcap company secure a 15 year loan for nearly £1m GBP at such a low interest rate
More funding lined up in advanced stages and certainly would have expected them to do their due dilligence
See also this article , with more numbers
https://greekreporter.com/2023/01/27/first-medicinal-cannabis-production-plant-opens-greece/
including this, re potential competitors
.."Since June 2018, when the legislative framework for the licensing of plants for the cultivation and production of finished medicinal cannabis products came into effect, the General Secretariat of Industry of the Ministry of Development and Investments has licensed 134 plant installations nationwide..."
That's a lorra, lorra licenses....
GLA
May be worth looking into this company and see what it's up to.
https://www.greenprophet.com/2024/03/medical-cannabis-now-legal-in-greece-and-country-eyes-being-major-european-grow-hub/
There's been a Nelsonian blind eye turned to earlier news about this co, which appears to represent serious competition to HELD (admittedly, on the evidence to date not a very high bar).
GLA
I think we already know the answer....what plants?🪴 They've already moved on to magic beans 🫘 now and maybe magic mushrooms 🍄 next year I think🤔? Beware Greeks bearing imaginary gifts 🎁. JMO Adyor!
Trying to get a handle on the numbers HELD are targeting.
Full pelt they target 54000kg dried flowers per annum.
They have a 40,000m2 active cultivation licence, in their 195,506 square metre facility located near Thessaloniki.
Is the site with a facility set up for vertical cultivation or is it outdoor growing?
The average yield per plant is 2oz (56.7g) of bud. So the 54000kg (1,904,794ounces) per year mark looks more aspirational at this time.
They , depending on set up need 4 separate areas. Nursery stage, growing stage, flowering stage and drying area, for continual rotational cultivation. Then packing and dispatch areas on top
Ave cycle (cutting to flower) is 14 weeks. So potentially 4 crops per year. A fully grown flowering plant is easily 0.5m2 of floor space (if they’re nettles) or 1m2 if decent. Depends how crammed in they will be.
Given its medical grade there’ll be strict controls on nutrients etc.
Even if they achieve 3-4ounces per plant average under controlled growing conditions to achieve medical grade the numbers and space currently under licence are tight.
The following numbers are pretty big for the 40,000m2 licences area in my view. Unless it is set up for vertical cultivation.
80,000 plants (0.5m2) at eg. better case average of 3ounces per plant cropped and dried is 240,000ounces per crop. On a 12-14 week rotation say 4 crops per year is 960,000 ounces or 27215.5kg. So to hit their full target they need minimum 160,000 plants if they get an average of 3 ounces per plant.
More likely 1-2 ounces so more plants in my view.
The medical site (not connected to held) I have visited, used outdoor cultivation and yielded an average of 1-2 ounces of bud per plant over 16-18 week cycle. 3 crops on a 54 week cycle.
Which is why I’m asking about the numbers HELD are targeting and type of facility they have ?
The next thing is we'll be selling magic beans 🫘 that will cultivated very soon, or maybe a bit later or possibly not at all..does that sound familiar? ..The crop of magic beans 🫘 will require additional loans provided by the Bank of Jack and the Beanstalk repayable on very unfavourable terms of course...JMO Adyor!
The next th
The RNS description is 'Settlement of Fees and Issue of Equity'.
The content has nothing to do with fees and is (unhelpfully, again) an aggregation of the £ equivalent of principal + interest on a loan expressed as drawn in USD.
Sloppy writing betokens sloppy thinking, IMO.
Huddersfield, Unfortunately it appears on the face of it that Davinder and the BOD have been abducted by aliens and therefore have been unable to pay the Riverfort loan back on the agreed terms hence today's RNS about Riverfort converting the unpaid loan interst into shares at 2.1p instead of 9.884p so it seems? As I said earlier today, as for my search looking for Davinder and the BOD, so far I have failed to locate them, I don't believe they are in Outer Mongolia, so I'm assuming the aliens have taken them somewhere else? I'm thinking Antarctica is the next 🤔 most obvious place to look. I will keep you updated on my search for them...Sherlock and Dr Watson are still assisting in the search. AIMHO GLA but ADYOR before investing here!!!
We're is the news of cannabis growing?
Am I thick or did they take on premises one or two years ago to start growing cannabis?
Or as that changed now??.
Either way when I see sp growing good news won't be far behind,
O.50p I assume 🤣
I can now see why the BOD have apparantly scarpered into the sunset 🌇 it appears by the continued radio silence? Still no sign of any cannabis crop or contracts? 🤔 JMO Adyor!!!!!!!!!
Yep, it just means HELD didn't make the repayment schedule because they are skint. Death spiral finance!
GLA
'The Company may elect to miss payments in accordance with the agreed repayment schedule. This would result in various rights being granted to the Lender including the right to subscribe for shares in the Company using a pre-determined calculation'
Riverfort are converting their loan repayments into new shares again (well below the 9.884p stated in the original loan agreement?). Can't decide if this is a vote of confidence in the company or not? Can anyone see why they are being allowed to concert the loan repayments into shares at the current price rather than at 9.884p as per the term of the loan? JMO Adyor!!!
Good luck with that. As for my search looking for Davinder and the BOD, so far I have failed to locate them, I don't believe they are in Outer Mongolia, so I'm assuming the aliens have taken them somewhere else? I'm thinking Antarctica is the next 🤔 most obvious place to look. I will keep you updated on my search for them...Sherlock and Dr Watson are assisting in the search. GLA adyor!
This share is now my biggest holding in my portfolio. This is for the long term at least 5 years or 50p. Yes it's a gamble but I believe in the company and the product. I will try not to stress and leave it . I've reached over 1% of the company and my limit. Like everyone invested here l'm well down. When the imminent good news comes this will rocket. Hope I'm right. My buys today have shown as sells for some reason.