In one of the quieter changes in C-Suites, one has to get to the end of this press release from Harvest Health ($HARV) to find out what ever happened to CFO what’s-his-name.
In any event, the new CFO at $HARV will have their hands full.
$HARV – who can’t seem to do (or even close) a deal without massive professional fees and adversarial litigation – is seeing their latest deal with High Times run right onto the rocky coastline that $HARV has mapped so well. Thanks to some investigative work at MBD, it looks like this deal’s hull might be damaged beyond repair. The deal has already been amended only 3 weeks after being announced, down from the initial 13 stores to 10, and a drop of $12.5MM in the total purchase price.
What prompted the un-ceremonial ouster of the previous CFO at $HARV is unstated. What is stated is that a tax accountant whose previous work experience is partially from outfits selling portable storage and ‘global education’ is now at the financial helm of a 1,700 headcount MSO that’s going to need some pretty heavy financial lifting done on several fronts.
The preceding is the opinion of the author, and is in no way intended to be a recommendation to buy or sell any security or derivative. The author holds no position in $HARV.