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
Continue reading “NOT FARMING”
