FSD Pharma’s founder, Thomas Fairfull, and director, Anthony Durkacz, have a history of value destruction. Durkacz had an average loss of 92% over 11 stocks in which he had involvement.
The company spent $8 million on listing fees, which is a head-scratcher, as it is multiple times larger than what comps spend.
Durkacz has received an astounding sum of over C$28.7 million total current value in cash and warrants for being both a director and broker for FSD.
FSD Pharma routinely announces investing in other small cannabis companies, but so far has shown little follow-through.
We have a price target on FSD of C$0.09 per share, which was its pre-RTO financing price less than a year ago.
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