Submitted by Hardscrabble Farmer
How do you lose 170 million dollars on a farm that hasn’t produced a single vegetable?
Use language like this…
“The company expects a full-year net loss between $170-$172.5M, including fourth-quarter non-cash goodwill and an intangible impairment charge of around $60M.”
Ah, the bugbear of agriculture, intangible impairment.
“One of the main drivers for share decline today was delays at two indoor verticle farms. The first was at an indoor facility that grows salad greens and another for tomatoes, and both won’t be fully operational until the end of the year. The company said last August that both facilities would be operational by the midpoint of the year.”
Verticle.
Here’s the new CEO and spell checker-
Martha Stewart-Backed AppHarvest Plunges After Farm Delays
The company expects a full-year net loss between $170-$172.5M, including fourth-quarter non-cash goodwill and an intangible impairment charge of around $60M. FY21 revenues are estimated at $8.9-$9.1M, higher than the company’s guidance of $7-$9M. Adjusted EBITDA loss is forecasted to be between $69.3-$72.5M, compared with $70-$75M.
One of the main drivers for share decline today was delays at two indoor verticle farms. The first was at an indoor facility that grows salad greens and another for tomatoes, and both won’t be fully operational until the end of the year. The company said last August that both facilities would be operational by the midpoint of the year.
The Kentucky-based vertical farm company grows vegetables in futuristic greenhouses that yield up to 30x more crops per acre than traditional outdoor farming. Operational delays and money-losing operations have resulted in the share price cratering at least 88% from the IPO price.
Short sellers have piled into the stock on deteriorating fundamentals, with 15.3 million shares short over the last year. The short-interest ratio is about 11.532.
AppHarvest has routinely boasted about food entrepreneur and icon Martha Stewart and Impossible Foods Chief Financial Officer David Lee joining the company’s board. However, touting celebrities has yet to boost the share price.
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Maybe they should try growing something and selling it. Just a crazy thought.
Cannabis seems to have a huge market.
IMHO, marihoochie would never have become the political fiasco it has became had Harry J. Anslinger never been born. Maybe we need more Harry J. Asslingers to promote another prohibition on what is undoubtedly the most detrimental drug on human health issues , divorces, broken families , violence , theft, etc., etc. , Al Key Haul.
Preaching to the choir. Now , on the count of one, two , three, DOPEHEADS.
One of the illegals, er I mean migrants, just flown in from El Salvador was heard to exclaim:
‘Qué demonios es esta mierda.’
I don’t speak French. Regardless, that there is funny.
This is the guy who turned me onto the dutch bucket grow system.
The first year I did a crude prototype to see how it worked. The second year I built a real version that actually worked.
Every year I added more buckets and pumps, I even built one for a local High school.
I helped a friend build this one.
Keep calm and keep growing…
Food shaped objects.
Just like the stuff that comes out of the UC Davis campus, you can drop these ‘tomatoes’ from 10,000′ and they’ll not only bounce 100′ or more … but they won’t even deform, let alone get smashed.
And they taste like … cardboard … and that’s when they’ve ‘vine ripened’ …
That right there is funny! I do well with watermelons, Crimson Sweets, and garlic in my crappy old East Texas soil. Black eye peas, purple hulls etc. do well here. In the “old” days the area was know as “watermelon sands”. Any number of varieties of watermelon do well. I do add amendments of organic compost etc.
30X more crops per acre…..yet still bleeding cash
War is peace. Hate is love. Verticle is a real direction.
Sigh.
All geared to ‘high tech’ farming. Much of the produce is lacking in nutrients that soil born produce has and when the tech fails… fails spectacularly.
Keeping murica nutrient anemic and corn fed obesity rules…
this post has been deemed not helping.
—maybe look into aquaponics or something…you’d be surprised the amount you can grow filtering just a small fish tanks with plants…all natural circle of life shit…literally:)
Aquaponics/hydroponics etc cannot supply the plants with trace elements that they take up. I didn’t said you can’t grow using these methods, I did say nutrient deficient over soil grown plants.
You can even taste and most often see the differences between ponic grown produce. than soil grown. Tasteless and watery comes to mind when greenhouse grown as opposed to field produce which tends to be more flavourful and firmer.
I’ll choose field over ponics any day of the week. thx
All good farming is dirt farming. You grow the dirt and the plants (and animals) take care of themselves.
Well, the profit don’t take care of itself anymore. I just figured my 2021 federal taxes and I really lost my ass per se. Chickens will be eating sweet feed which is $8 cheaper; I will start letting them out again to eat grass and killing Whatever predators attack (the idiot liberal next door sold a hundred acres and the new neighbors are wonderful Conservatives). I am definitely getting rid of cows because this years buying feed, hay, molasses, salt, wormer, spray, fencing, seed, fertilizer, etc, ate up all the profit for the next 10 years. I fold; I’m out. I’ll keep a couple to eat just grass for our beef. I plan to plant a lot of beans, winter squash, and lots more fruit trees, and build a fire ant proof rabbit shed for hanging rabbit cages, etc. It’s change or go bankrupt time.
Those spring mixes sell for 7-10 a pound and are almost all water weight. I love them, but I will be growing my own when we get everything set up eventually.
Try using this. One application right after the seedlings form first true leaves. One oz. per gallon of water and use a watering can right over the seedlings.
Organic fish fert.
https://www.neptunesharvest.com/hf-150.html
had to put this somewhere
7/16 OSB —the “cheap” shit you build a chicken hut out of or board up windows with— hit $50 on the wholesale market today!!! no signs of slowing down.
start growing wood chips and glue.
thankfully all will be well since black history month starts today woot woot as if a year of exploring black creators wasn’t enough.
The Chinese Year of the Tiger starts today, as well.
Just came out of a New Moon (black) and tonight a Waxing Crescent.
Cannot let it get wet at all.
Holy smokes. Don’t know where you live. Down here in Texas plywood, osb, it’s all very expensive. Are y0u referring to “ZIP System” osb, whatever that is or just Plano osb?
https://www.lowes.com/pl/Osb-Plywood-sheathing-Lumber-composites-Building-supplies/4294402495?refinement=1711906721756,1820643417018,1810008173975&searchTerm=7%2F16%20osb
I wonder if this grift can beat Obama’s Solyndra shovel ready ditch in the ground that was filled with $535 million taxpayers dollars?
The federal tax code is designed for those in the club to use for their benefit. Once you reach a certain net worth, you can afford to buy a congresscritter or two and can get favorable tax legislation written. Don’t have a few hundred K floating around to use on personal services purchases, sorry, it’s back to the 1040 for you.
My mind is foggy, but Ice Age Farmer seems to have said something similar, like 18 months ago, or so.
Clearly they need lessons from Michael Bloomberg.
https://www.independent.co.uk/news/world/americas/us-election/michael-bloomberg-2020-election-farmers-video-swing-states-a9341401.html?jwsource=cl
“It’s happening!”, “It’s happening!”, “It’s happening!”,…
WATCH: Massive Brawl Breaks Out In Bensalem Golden Corral Over Alleged Steak Shortage
https://philadelphia.cbslocal.com/2022/02/01/watch-massive-brawl-breaks-out-in-bensalem-golden-corral-over-alleged-steak-shortage/