Delta 9 cannabis

Yeah, I'm not sure to be honest.

The entire Cannabis industry has been in the dumps, and Delta 9 has bee a bad investment for years. They aren't profitable and aren't even generation positive operating income. As a result, they will need to continue to issue shares to keep the lights on as I'm sure banks and the like aren't lining up to offer them debt. Gone are the days that Cannabis companies had access to easy capital. Especially since they just added $25M in debt last year.

In the ends, this just has the net effect of shareholder dilution - warrants are even worse for future dilution. It wouldn't be so bad if the company was generating an operating profit, but it's not and burning through cash rapidly. It generated negative cash from operations in 2 of the past 3 years and it is just a very tough operating environment. They've had some blips of good years, but nothing consistent.

Mat