Im looking at SmartKem {SMTK}

I call these companies scratch-off tickets. Pre-revenue companies that typically entice investors with high total addressable markets and lofty goals.

I call them scratch off tickets because you win on some, break even on some, but lose on most.

There is no fundamental analysis that can be done here. Lots of partnerships, etc, but no actual generation.

Company is burning through capital. You will highly likely be diluted through the growth phase of the company and you will just need to hope that everything goes right.

If I was investing in companies like this, I would do so with the amount of money I'd be comfortable taking to the casino.