TLRY GAME ON
Irwin D. Simon, Chairman, and CEO, Tilray, said:
"We brought together Tilray and Aphria less than five months ago with a clear vision to create the world's leading cannabis-focused consumer brands company. Since that time, we have been laser-focused on capitalizing on the strength of our unparalleled geographic footprint and operational scale to drive the performance of our Company. Due to the support of our stockholders, Tilray now has the resources we need to build on our momentum and execute our plans. We sincerely thank our stockholders for their investment in the company, and we are committed to driving strong value creation now and into the future."
Florida Tracker
Sales in Florida were up from the previous week by about 9%. The same market share trends continue in the state. These trends are Verano, Curaleaf, and Harvest gaining market share and Surterra and iAnthus losing market share. No new dispensary locations were added in the state this past week.
ACB Sued
Aurora Cannabis and its prior executives were accused of running a fraudulent scheme that inflated its earnings results in Q4 2019. According to a lawsuit filed in US federal court, the scheme involved selling $21.7 Million worth of cannabis back to itself through a company it had significant influence over. In Q4, Aurora "sold" $21.7 million of cannabis to Radient Technologies. The next quarter, Radient Technologies mysteriously sold this cannabis back to Aurora. This artificially increased Aurora's earnings for Q4, therein increasing its stock price as well. In a statement, an Aurora spokesperson said that the company doesn't comment on legal matters. "We maintain our standard of business practice is in accordance with all relevant securities law and fulfill any obligation to respond accordingly," the spokesperson said. Since Q4 2019, Aurora's stock price has plummeted about 90%. The company is struggling to even stay afloat in Canada, let alone have the hope of entering the US market, as the CEO said in a CNBC interview.
