I’m in transit <again>, and getting a little tired of life on the road. Having a steady diet of travel and airports without much time at home in-between gets old fast.

I’ve been up to half the year away from home in the past. As a consultant, you go where the work is.

Despite some trim perks, life on the road got old for me, and I decided to do it less. Lately, I haven’t had a choice.

GoBlue and I share the same perspective on $HVT. If you’ve seen our previous structures on them, you’ll note it isn’t the most positive outlook we hold on any particular company. I’ve covered them forever, have traded them profitably, and ‘know’ the outfit as well as one can from financial statements.

Looking at these latest financials though….well. Without an Act of God, this zombie will limp along with nothing more than the occasional twitch. And I sure as hell ain’t gonna waste your time on them.

This is an all too common story of zero execution. Of crappy planning. Of poor business decisions. Of a bloated and ineffective C-Suite, too many hands sucking cash out of it, and no clue about formal commerce.

I suspect hubris is at the bottom of it all. I’ve seen far too may people with more ambition than talent in my life land one level too high. And the cannabis sector landscape is filled with legacy who thought they knew what they were doing selling by zips in alleys for a decade. It’s filled with penny stock carnies. And it’s filled with pitch decks that sell one the exact opposite.

$HVT encapsulates all of these to me. And it is personal, in how they responded to legitimate questions, and presented themselves when we engaged with them.

These financials show it circling the drain, perhaps another 2-3 quarters before sale or bankruptcy.

I don’t rejoice in the millions shareholders lost.

But the fact that these clowns are exactly where they’ve led themselves to….good. And good fucking bye Harvest One. Shame we ever knew ya.

One down. Many to go.

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 $HVT