Here’s Grizzle’s analysisand per our image they’ll be needing that nurse now. Let’s hope she’s not a stoner
Grizzle was first to lay out the true scale of the problems facing MedMen and warned investors in October that the company was in a debt-fuelled death spiral with very few ways to escape.
This quarter did nothing to change our thesis.
Medmen cut the cash burn down to $56 million from $95 million last quarter and has another $115 million or so they can borrow, but with $11 million of quarterly interest expense against only $22 million of gross profit and negative $30 million of cashflow, it’s only a matter of time before the bill will come due.