3 March 2025

Tag: MMEN.C

iAnthus (IAN.C) shareholders all but wiped out by Gotham Green Partners in recapitalization deal

For a large part of its early days, one of the main selling points of US multi state cannabis store operator iAnthus (IAN.C) was that it was seemingly run by adults. Unlike their colleagues at MedMen (MMEN.C), which revealed itself as a self-dealing executive wealth generator from day one, iAnthus painted a picture of experience,…

15 July 2020
MedMen (MMEN.C): The Kings of Cannabis are dead but the stink remains

“In a sector rife with terrible CEOs that have wasted company treasury and goodwill…none come close to Bierman in terms of self enrichment, entitlement, and outward facing douchery,” wrote Chris Parry on January 31, 2020.

29 June 2020
Do not adjust your TV sets – Heritage Cannabis (CANN.C) is a real business

New licenses, deals, products – that’s all good – but it’s not the nitty gritty stuff investors are looking for now. By “nitty-gritty” we mean – numbers. Four weeks ago, Heritage released its Q1, 2020 financials.

29 April 2020
iAnthus (IAN.C) defaults on debenture payments – but is that a weakness or a tactic?

Long time readers know, a year or two back, we wrote a lot about a US multi-state operator (MSO) in the cannabis dispensary space, iAnthus (IAN.C). We liked the company as it accelerated its dispensary acquisition program but stopped coverage in early 2019, with the shareprice in the $5 range, as it began to overpay…

7 April 2020
MedMen (MMEN.C) CEO Adam Bierman resigns but his pockets continue to fill

From the day it landed on the stock market, MedMen (MMEN.C) was a company that drew derision and ire based almost entirely on the decision of its founders to lather themselves in hefty bonuses, hoard most of the voting shares, offer themselves enriching golden parachutes, and put themselves above the shareholders and the long term…

1 February 2020
This is an actual MedMen (MMEN.C) news release

When a cannabis company loses a lot of money every quarter, and has to sell real estate, cancel acquisitions, lay off staff, renegotiate existing financing to higher interest rates and offer stock to new financiers at a discount to the market price, all to stay afloat, one might expect their newsflow to show bold new…

11 January 2020
2019 weed wrap: The end of the cannabis cycle of cannabis cycles

Like the old Twilight Zone episode where helpful aliens leave behind a book called ‘To Serve Man’, only for us to find out later it’s a cookbook, investors have been welcomed and fattened up nicely by alpha predators as they unwittingly await their slaughter, not realizing that, they’re at the predator’s table because they’re the…

28 December 2019
Deathwatch: MedMen (MMEN.C) is cutting out everything but the cancer that is killing it

If you’ve been around this joint for a while, you’ll have seen us arguing folks would be silly to invest in MedMen (MMEN.C) if hanging on to your money is a thing you aspire to do. That’s not because we have a hate on for the dude-bros running the show, or because they’re not a…

13 December 2019
MedMen (MMEN.C): cannabis catastrophe – 5 red flags everyone should have seen

MedMen (MMEN.C) owns 33 cannabis retail stores across 9 states. The stores have attractive exteriors, but the business inside is ugly. “MedMen reported another quarter of heavy losses [In Q1, 2020] as the California-based cannabis company scrambles to right-size and avoid bankruptcy,” reported an excellent Grizzle article, “with $11 million of quarterly interest expense against…

30 November 2019
MedMen (MMEN.C) lay offs reveal an even deeper sickness within

So the braintrusts over at MedMen (MMEN.C) have devised a new and novel way to staunch their company’s steady and consistent bleeding: they’re going to lay enough people off that they reduce their overhead to a sustainable rate. Given that the company lost $277 Million in 2019, it’s not unexpected. Sometimes costs need to be…

16 November 2019