Over the past 2 years I’ve had the pleasure and displeasure of getting to know two very different companies named The Green Organic Dutchman (TGODF) (TGOD). It would, therefore, be unfair to address each one of them in the same manner. This is not merely due to each of former & current management teams deserving customized messages, but more importantly, because neither team would know how to react to the other’s given message. As such, I have something separate to say to each of you.

The first one is to an incredibly calculated team, strategic in every way – operationally, intellectually and everything else in between. I admire their naked curiosity, the rich sense of wonder, honesty, shareholder loyalty, competitive and intractable spirit, and unrelenting introspective nature to figure it all out. They were as enthusiastic and gleeful and as an investor, they moved me. Team 1, my words are welcoming:

I am very grateful for the time we spent together from the 50 cent round, $1.15 round with a full warrant, $1.65 round with a half sheet warrant and the $3.65 CAD IPO with a half free trading warrant and $350 million bucks in the bank, earmarked for projects, opex/Capex. Our time together is a completely unique experience, from IPO day to $8+ just two months later, back down to $5 and straight up to $10 in September of 2018. A bought-deal above $6, which brought the company’s cash position to $400m even with an impending unlock that quickly got bought right back up and even with that unlock every shareholder from the private placements made a mint.

By March of 2019 the company traded back over $5.50 CAD which is where I exited the bulk of my position, not because of the company, but rather the time of year. I fully expected to jump back in over the summer, but at this point the new management team showed exactly who they are; fiscally irresponsible morons. While I am trying to focus on the positive side of this message, I just can’t. I find it to be overwhelmingly sad the way things seemed to implode for team two out of hubris or just plain stupidity.

I’ve resolved myself to understand these sorts of things happen within the confines of intense irrational exuberance and market instability. To team one, I say I love you and I will miss your sense of logic, fiscal responsibility and execution.

A Stark Contrast In Management

The second team I know is in stark contrast to the first. Although this one was also attractive and seemed to possess all the potential of the former, they are, undeniably, without rapture. Team two led by Brian Athaide chose only to show signs of emptiness, was void of shareholder compassion, and ultimately became reticent. And while I wanted to gaze past the unquestionably fragile and perhaps frightened veneer of this team that could not hold team one’s jock I simply can not. I feel little but remorse and even frustration towards this team and company now as they offer me no comfort, no hope, no love. My message to current TGOD management is without warmth:

I listened to your side of everything with slight indifference as you have become apathetic and insouciant towards the short-lived, but intensely emotional time your most loyal shareholders spent with the company. Your PPS has thinned, weed hardened, and your lack of voice speaks painful platitudes.

I try to understand your dilemma, but I cannot fully grasp your black and white, plain and simple judgment. You offer us no room to long for another way. You do not want to be honest with yourselves that you have squandered the good faith of shareholders and hundreds of millions of dollars due to sheer stupidity; mismanagement of funds. I therefore no longer recognize you as management. You have become little more than a footnote in my portfolio, an asterisk next to the dates when you showed just how worthless of a team you were when it really mattered despite so many people offering advice and a roadmap of what would come to pass if you did not act immediately.

So who the hell are the people running TGOD, besides a CEO that does a down round financing that hurts the long term shareholders, puts an extension on Valleyfield he has no way to pay for and ultimately burns millions of dollars in the process along with a CFO that I wouldn’t let manage my daughter’s lemonade stand? After looking at today’s financial report I will tell you that unfortunate timing is a poor excuse. You guys, from CEO to IR, suck at your jobs. It’s ok, I would suck at being a neurosurgeon, but then again I wouldn’t try to be something I am not.

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The Time Has Come

To Brian and Shawn, you guys should resign or shareholders should call for a vote of no confidence, especially the shareholders holding size, still. You have taken a company that could have been so great and turned it into a pile of excrement. Save what little integrity you have left and do the right thing. If you want to create shareholder value leave TGOD, or expect to be mercilessly tortured on a daily basis by the markets, the shareholders, and yours truly.

Now since you’re incapable of listening to anyone, I think it’s safe to assume you won’t resign much to our complete and utter dismay, in which case at least fire the CFO. Seriously, he’s just garbage at managing money. If you don’t want to do that maybe extend the $3 warrants to make up for your stupidity. Do something, instead of smiling like a prepubescent teen at a Justin Bieber concert on BNN and saying everything is perfect…I still own some private placement stock and will keep it only to vote the CEO and CFO out at the AGM meeting.

Warm Corona Virus filled regards-

Wolf

Disclaimer: Member of MAPH Enterprises, owners of MarijuanaStocks.com own 150,000 shares and 300,000 warrants of The Green Organic Dutchman. Full disclaimer here.

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