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Detailed DD post [re-post after r/pennystocks removed it]

Detailed DD post [re-post after pennystocks removed it]
I posted this yesterday morning (UK time) but after 5 hours or so, pennystocks deleted the original post. A few people messaged me asking for it to be shared in a few High Tide specific pages. So here it is!
--
This is my first time posting a DD post – a friend of mine who moderates on SPACs has shared some analysis I have written previously, but I’m keen to share this here, and see if there is any appetite for sharing my own personal written DD I have on the 30 stocks I have across a number of different portfolios.
I have modified this format, as it was originally a script for a video which I created on the stock. If you prefer to listen – check it out here: https://youtu.be/qsjwU7kkPsw
Some of the market stats (market cap, current multiples, etc.) are correct as of Feb-06, and clearly a little outdated since the price movements.
Not a financial advisor, do your own DD. I am long HITI and have an expectation of a long term hold on this stock.
Overview
  • High Tide Canada-based cannabis retail company, operating under multiple brands. It operates under 3 core divisions:
  1. Brick and mortar retail – 4 key brands with just under 70 locations in Canada. Brands include: Canna Cabana, New Leaf, Meta Cannabis and Kushbar. Forecast to have around 115 stores by end of 2021
  2. Online retail – has 2 brands, both of which attract millions of viewers per month – Grasscity.com and CBDcity.com
  3. Wholesale – manufacturer of paraphernalia in US and Canada. Number of products are branded with various celebrities, Snoop Dogg, Paramount Pictures, Trailer Park Boys and many more
  • Has good c-level execs and experienced executive board; hold significant stake in the business. CEO Raj Grover holds just over 21% of the shares
  • Currently has a market cap of around $280m. Still significant upside to the valuation – see analysis later in post
Investment Merits
Very strong market growth:
  • Business has demonstrated growth both organically (through new store openings, more online sales and greater wholesale sales), as well as inorganically through M&A
  • Growth in markets which High Tide has a physical presence in is expected to be very strong. North American cannabis market (Canada and US) is forecast to grow by 30% a year to 2027 (source: research and markets)
  • Analysts covering High Tide are forecasting growth in excess of this, which is positive to see and implies capturing market share
  • New markets / geographies ‘opening up’, legalizing and regulating cannabis is also an exciting and realistic prospect for incremental growth:
  1. The US federal legalization debate is on the table
  2. Many other countries are considering this too and High Tide is well positioned for these; this is catalyzed by the fact that government debt has increased significantly as part of the response to the COVID-19 health crisis. This needs to be repaid somehow, and increasing tax rates on existing taxes is an unpopular political move. Finding new tax revenues is a more palatable way of increasing tax revenues for governments. This is especially important in countries where elections are upcoming.
  • Personally I do expect to see this accelerate the agenda for the regulation and legalization of cannabis in many new countries
  • Whilst predominantly Canada and US based, High Tide does have presence in some markets where cannabis is not regulated or legalized, the UK for example (~10% of Grasscity sales are made here) and so it is well positioned with a strong and established brand to capitalize on this opportunity, when / if the market ‘opens up’
Regulation
  • High Tide benefits from the regulatory focus and overhang on the cannabis retail sector as it represents a strong barrier to entry, making it more challenging for new competitors to enter market
  • Participants in the market need to have licenses and ensure consistent compliance with laws to continue operating – failure to comply can result in significant financial penalties
  • Personally I normally don’t like investing into retail. There are usually fairly limited barriers to entry, minimal differentiation and negligible customer loyalty, however the cannabis market does have different characteristics in this respect and makes it a more compelling proposition
  • Regulation also benefits those with scale, something High Tide has as the leading player in the market. It costs money to obtain and retain licences to operate and it costs money to ensure compliance with all the laws and regulations and that all staff are acting in accordance with these
  • Some parallels in this respect which can be drawn to casino gaming in casinos; you don’t see new casinos popping up at the same rate which you see new restaurants or apparel stores opening
Demand
  • There’s a lot to like about the demand dynamics for High Tide. It’s vice-nature means that demand is less correlated to disposable incomes. Given where we are in economic cycle, especially important consideration
  • For those doubting this, check alcohol, tobacco or gambling expenditure across economic cycles historically, for a proxy
Strong performance throughout COVID-19 crisis
  • Despite heavy weighting towards brick and mortar, (the most hard hit part of retail) it has effectively managed the shift to online, which is a positive
  • Has relied on government support and financial assistance in the form of job retention schemes (address in more detail later in post)
  • This demonstrates management are capable and have effectively navigated the challenging situation
Data
  • Massively summarized from the video, (and my video on KERN) so check that out if interested in this point, however, they have unique access to supply chain data which could be monetized effectively and generate strong levels of recurring revenues
  • Other established sectors have a trusted party with such unique access to data (e.g. alcohol, lithium, different foods, etc.) and the opportunity here is enormous
  • I would like to see High Tide capitalize on this
Forecasts financials & analysts
  • Currently 2 analysts covering High Tide, both have a buy rating on the business
  • Their coverage is slightly outdated (expect this being updated soon and a further catalyst for positive price action) and their price targets are 60c; at the time their reports were published, they were forecasting a 4x upside (HITI was trading at ~15c)
  • Same analysts also forecasting strong growth - 77% CAGR to 2022. They are forecasting revenues of around $250m and EBITDA of $46m. A reminder here, these are professional analysts, not YouTube students – these come from their financial models, the assumptions of which are discussed with management
https://preview.redd.it/nfq8h5fpvmg61.png?width=602&format=png&auto=webp&s=f48977ca9c0072003ac71206cef28b0a493dd583
Valuation
  • Going to go quick here, its explained more slowly in the video but High Tide is currently valued at a significant discount to the other listed peers
  • Looking at EV / FY+1 Sales multiples – EBITDA not meaningful as some of the peer group are EBITDA negative and High Tide itself has only recently become EBITDA positive

https://preview.redd.it/4t4n303rvmg61.png?width=342&format=png&auto=webp&s=636bca248743272bed283af97780d3e1e121312f
  • Personally, I think Planet13 is the most comparable given its business model
  • Taking both Planet13 multiple and peer group average multiple, this is then applied to High Tide’s forecast FY+1 sales to calculate an enterprise value – this is adjusted for net debt to get to a market capitalization and then divided by the share count to get an implied share price
  • The table below shows the implied stock price valuations from this analysis

https://preview.redd.it/1mks0oxrvmg61.png?width=406&format=png&auto=webp&s=587ca8e2468b825103905931ebe7ab5b42314c6f
NB – assumed the following:
  1. Net debt will change in coming year given the capital structure and a large number of convertible notes – this has been ignored given it will have small impact on the price
  2. The share count will change as a result of dilution from various instruments – if this bothers you massively then look at the valuation discount on the basis of the enterprise value as it does not impact this (and only slightly on the market cap given minimal impacts to cash from instrument execution, etc.)
  3. Not accounting for any stock split, consolidation or any other M&A deals
  4. The FY21 financials are on the basis of the mean broker estimates from Thomson Reuters – Seeking Alpha has different and slightly outdated ones
Investment Risks & Mitigants / Outstanding DD points
Exposure to changing regulation
  • US is only a small part of the market which High Tide addresses, while a change in regulation would have a big impact on the company, currently it is unlikely this would happen, given the discussions about potential federal legalization
  • Canada regulation is established and not going anywhere
  • Other countries likely to legalize and regulate cannabis, as outlined earlier
Dilution
  • No escaping that there will be some significant dilution for shareholders, as pointed out in the table below, but this should be already priced into the stock
  • Potential that new equity issuances could occur to help finance growth, but provided this growth is delivered, it should be accretive for the stock price

https://preview.redd.it/vkrb2ousvmg61.png?width=602&format=png&auto=webp&s=40f8f4c65b92efc15af0eba42bb873c774700eff
Potentially misleading cost basis information
  • A risk that investors need to be aware with for all companies which have relied on government financial support during COVID-19 measures. Such support has resulted in the number of businesses going bankrupt decreasing massively – this is at a lower level than it ever normally is and is masking some real underlying issues within companies. As investors we need to be open eyed about this
  • As High Tide has benefited from support in the form of the Canada’s Emergency Wage Support scheme, there is the risk that once this is lifted it may become apparent that the cost base has not been effectively managed
  • Personally, I think this is mitigated by the synergy analysis conducted as part of the M&A. A full cost base analysis would have been conducted to calculate the potential $8.4m synergies so strong likelihood that this is under control, but should keep on our radar and reassess
Marketing expenses and celebrity licenses
  • Need more information to ascertain whether these are underpinned by a compelling ROI. Seen a lot of people suggest this is a great positive, but the impact on sales volumes from these is unknown, as is the terms of these license agreements (e.g. split between upfront fee vs. volume-based fee)
  • No escaping the fact that it is an increased cost and so need to understand the ROI this generates to determine whether it really is compelling
  • Is there really more demand to pay a premium for Snoop Dogg bongs, Guns n Roses papers, Cheech & Chong grinders, or whatever they may be?
  • So far management have suggested this has been helpful in driving new sales, but this is something to dig into more
If you want to check out the video, it would be appreciated: https://youtu.be/qsjwU7kkPsw
submitted by AlexM-YT to HITIFSTOCK [link] [comments]

Posts talking about corruption in Lebanon.

Posts talking about corruption in Lebanon.
Hezbollah:
  1. Here are some of the terrorist attacks they have done throughout the years and in different parts of the World [Multiple sources]
  2. Hezbollah critic & thawra activist Lokman Salim was assassinated in Nabatieh. He was missing since yesterday and today they found his body. [Other links are in the comments]
  3. Hezbollah representative interviewed about the current situation in Lebanon and Israel on Al-Jazeerah
  4. Lebanese Activist Hussein Nasrallah was arrested at the airport once he arrived in Lebanon because of his anti-hezbollah views
  5. "I was waiting for an answer from Hezbollah and an explanation, instead of accusing me of being an agent" Cardinal Al-Rahi
  6. Hezbollah Relation to Venezuela
  7. Seven years (2020)ago today Mohammed Chatah was assassinated. This was his last tweet 32 minutes prior to his murder.
  8. Documentary showing the brutality of harakat Amal and Hezbollah thugs on October 23rd, 2019.
  9. Hezbollah says it has doubled its guided-missile arsenal. 2020
  10. Posting about an Iranian general on the road leading to the airport
  11. Here are some proofs of Nassrallah protecting the corrupt leaders and some of the corruptions Hezbollah has done in Lebanon. [Multiple sources, mainly videos]
  12. Hezbollah supporters launched a campaign against journalist and political analyst Kassem Kassir who is considered close to Hezbollah because he criticized their relation with Iran. NBN deleted the episode from its website, while Kassir was forced to issue an apology
  13. Hezbollah launched an online attack against MP Slim Osama Saad. Hezbollah accused Saad of treason after he issued a statement condemning the killing and rejecting political assassination. Hezbollah supporters even called for Saad’s murder, considering him a spy for condemning the assassination.
  14. Despite the total lockdown & people having to close their businesses, hezbollah is celebrating the "41st anniversary of the Islamic revolution in Iran" in Baalbak.
Progressive Socialist Party:
  1. Here are some of the corruptions the Progressive Socialist Party have done [Multiple sources]
Future Movement:
  1. Here are some of the corruptions the Future Movement have done since the foundation of Solidere up until today [Multiple sources]
  2. Dailystar: Hariri is back from vacation(07/01/2021)
  3. Banks in Turkey start legal proceedings against Saad Hariri's company in Turkey for failing to repay a 5 billion USD debt. Hariri is facing extreme pressure from the Turkish government. This is the main reason he flew to Turkey and met president Erdogan. Politics
  4. FPM used its power to reopen a warehouse, for one of its own members, that was closed by the police for selling subsidized materials on the black market for premium prices. This warehouse and its products were bought with a loan from BDL
Lebanese Forces:
  1. Here are some of the corruptions that the Lebanese Forces have done throughout the years [Multiple sources]
  2. Samir Geagea was found guilty of the assassination of Dany Chamoun and his entire family.
  3. WikiLeaks: Geagea Informs Sison that He Has 10,000 Fighters Ready to Combat Hizbullah
  4. The history of the Lebanese Forces is full of terrorism equivalent to Al Qaeda
  5. Leaks reveal Geagea pleaded with Saudi Arabia for money to finance the bankrupt party
Free Patriotic Movement:
  1. LBC-A look into Gebran Bassil's performance as Foreign Affairs Minister
  2. US imposes sanctions on Lebanese politician Gebran Bassil
  3. Gebran roast on CNN
  4. Wikileaks Wire showing discussions Michel Aoun had in 2007 with the US Embassy about an Israeli peace deal and the disarmament of Hezbollah, among many other things
  5. President Khara Aoun considers that the demand for an international investigation into the Beirut Port case aims at wasting time.
  6. Michel Aoun becomes the first Lebanese president to ignore greeting Muslims on their Eid
  7. Full Interview: Former Lebanon Foreign Minister Gebran Bassil | CNBC International
  8. Bassil's armored Audi car was a gift from Marada's Suleiman Franjieh, who got it from Bashar al-Assad
  9. Claudine Aoun, daughter of president Michel Aoun owns a marketing company that has contracts with MANY entities in the government, basically getting paid without doing any job.
  10. Here are some of the corruptions the FPM party have done throughout the years [Multiple sources]
  11. Wikileaks cable about how Aoun views Tripoli and other regions. (English Version in the comments)
  12. Michel Aoun Photoshopping His Meetings
  13. Tracy Chamoun, Lebanon's resigned ambassador to Jordan: Gebran Bassil stands as a barrier to forming a government as a form of punishment for the Lebanese
Amal:
  1. Nabih Berry saying exactly the opposite of what he's doing today
  2. Nabih Berry saying the opposite
  3. The Parliament Militia
  4. The daughter of Berri's cousin is having a huge bachelorette party with musicians, big cakes, and others.
  5. Documentary showing the brutality of harakat Amal and Hezbollah thugs on October 23rd, 2019.
  6. Here are some of the corruptions the Amal Movement have done throughout the year Discussion [Multiple sources]
  7. Hezbollah supporters launched a campaign against journalist and political analyst Kassem Kassir who is considered close to Hezbollah because he criticized their relation with Iran. NBN deleted the episode from its website, while Kassir was forced to issue an apology
Riad Salameh:
  1. Offshore Firm Tied To Lebanon Central Bank Governor Sold Stock to Bank He Regulates
  2. Our BDL Governor: بنك "عودة" شريك الحاكم وصاحب الأرباح الأكبر من هندساته
  3. The politicians and the banks engineered the economy for their own benefit. While banks smuggled politicians and big depositors' fortune, the Lebanese people are begging to get their own money. Here are all that is wrong in the banking sector and how the leaders are working with them [Multiple sources]
  4. Switzerland and EU officially asked the Lebanese authorities to help in a forensic investigation regarding transfers (400m USD) related to Central Bank governor Riad Salameh, Bank Intra, Casino Du Liban, and MEA
  5. Around $1.5 billion has been allocated to the humanitarian sector to support Lebanon in 2021 alone. BDL wants that hard currency channeled through it to control inflation, so rather than dispersed to beneficiaries in USD it will give it out in LBP using the rate $1=6240 LBP
Other government organizations and institutions:
  1. The judicial formation was always influenced by the sectarian parties and Lebanon’s political and sectarian system has long interfered in the judiciary’s work
  2. Here are some of the corruptions of high ranking officials and footages of ISF and LAF using excessive force on people [Multiple sources]
  3. Report about Judicial Corruption, on LBC (12/12/2020)
  4. Minister Tariq Majzoub: The laptops that were said to have been damaged by the explosion turned out to be sold by the company that was supposed to store them. These laptops were meant to go to students in public schools and universities for free.
  5. Here's a video with context about the stolen laptops that the education minister talked about yesterday.. Listen to TechnoMania representatives giving various excuses: no Microsoft license, damaged in Beirut port blast, Insurance... In short: 2400 laptops were stolen and sold!
Internal Security Forces (ISF):
  1. Protesters in Lebanon are targeted by French military-grade tear gas
  2. Here are some of the corruptions of high ranking officials and footages of ISF and LAF using excessive force on people [Multiple sources]
Elections:
  1. All the sectarian parties invested in their political campaigns through deceptive electoral programs, blatant lies, false promises, bribes, small services, and government employment to win people's votes. Here are the promises of the main political parties to fight corruption throughout the years. [Multiple sources]
Religious Institutions:
  1. The sectarian leaders always seek protection behind religious authorities and all the politicians use religion and sectarianism for political purposes. Most of the high ranked religious figures are involved in politics. Here are many political interventions and statements of some religious figures [Multiple sources]
  2. Stories of mothers fighting for their children’s custody and defying the injustice and corruption of Ja’afari courts. This video shows mothers’ battle for custody rights and how they face off the fatwa upheld by the courts
Banking Sector:
  1. Banks are still involved with Qard Al-Hassan
  2. The politicians and the banks engineered the economy for their own benefit. While banks smuggled politicians and big depositors' fortune, the Lebanese people are begging to get their own money. Here are all that is wrong in the banking sector and how the leaders are working with them [Multiple sources]
All:
  1. Lebanese Officials Reportedly Attempting to limit Probe into Beirut Blast From The Start
  2. Ex-Minister of Interior Marwan Charbel confesses that they used to send police and security forces dressed as civilians into protests and gatherings and ask them to start destroying and sabotaging to discredit the peaceful protests that are going on.
  3. Emigration(Joke)
  4. The gates of Hell are beginning to open. Lebanon is being torn apart between political parties who still seem to be oblivious to what's happening around them.
  5. Ogero chairman, Imad Kreidieh, gets paid a higher salary than the USA President. He employed, as a favor, tens of high-level consultants in Ogero, most of them while they were still students, and have no connection with the telecommunication sector(some are theater major)
  6. A once of a lifetime internet speed.
  7. "Immigration" turned into an obsession for the Lebanese... 70% of immigrants are between 25 and 35 years old!
  8. Beirut Municipality: Fake Afforestation with 5 million dollars
  9. Almost 1,000 protestors were arrested since 17/10/19, including 58 minors. Some arrests included violent kidnappings and residential raids. Oppression in Lebanon during this period is equal to that of Sudan and is 3x that of Algeria.
  10. How the parties control YOU!
  11. Beirut
  12. Lebanese Finance Minister Ghazi Wazni: "The political forces that I belong to refuse to sign with any forensic auditing company". Forensic auditing firm Kroll was set to review every transaction at Lebanon's Central Bank and expose the corruption of many politicians
  13. Jad Ghosn explains how politicians use sectarianism to improve their own conditions while deteriorating the conditions for their own sects.
  14. The reason why almost all traffic lights are not functional in Beirut. Spoiler: Corruption - and they won't be functional any time soon.
  15. Political elite EXPOSED! we were also able to hack into documents of the political elite and found some shady stuff to share with you.
  16. Why we still don't have a government.
  17. Lebanese foreign minister requests secrecy of Swiss judicial investigation
  18. Subsidized picon is being sold in Nigeria.
  19. Corruption, incompetence and mismanagement are the reason behind Lebanon's collapse. While it is necessary to implement reforms and create a rescue plan, the sectarian leaders are instead negotiating to divide their governmental shares. Here are some corruption and incompetence in different sectors [Multiple sources]
https://preview.redd.it/lwwxpnoply761.jpg?width=960&format=pjpg&auto=webp&s=a38f1c67bbf37f0f4ed49d3800d3687f4f7ad5c1
submitted by DarthLebanus_1 to lebanon [link] [comments]

Detailed DD post [re-post after r/pennystocks deleted it]

Detailed DD post [re-post after pennystocks deleted it]
I posted this yesterday morning (UK time) but after 5 hours or so, pennystocks deleted the original post. A few people messaged me asking for it to be shared in a few High Tide specific pages. So here it is! Hope this is OK for the mods here?
--
This is my first time posting a DD post – a friend of mine who moderates on SPACs has shared some analysis I have written previously, but I’m keen to share this here, and see if there is any appetite for sharing my own personal written DD I have on the 30 stocks I have across a number of different portfolios.
I have modified this format, as it was originally a script for a video which I created on the stock. If you prefer to listen – check it out here: https://youtu.be/qsjwU7kkPsw
Some of the market stats (market cap, current multiples, etc.) are correct as of Feb-06, and clearly a little outdated since the price movements.
Not a financial advisor, do your own DD. I am long HITI and have an expectation of a long term hold on this stock.
Overview
  • High Tide Canada-based cannabis retail company, operating under multiple brands. It operates under 3 core divisions:
  1. Brick and mortar retail – 4 key brands with just under 70 locations in Canada. Brands include: Canna Cabana, New Leaf, Meta Cannabis and Kushbar. Forecast to have around 115 stores by end of 2021
  2. Online retail – has 2 brands, both of which attract millions of viewers per month – Grasscity.com and CBDcity.com
  3. Wholesale – manufacturer of paraphernalia in US and Canada. Number of products are branded with various celebrities, Snoop Dogg, Paramount Pictures, Trailer Park Boys and many more
  • Has good c-level execs and experienced executive board; hold significant stake in the business. CEO Raj Grover holds just over 21% of the shares
  • Currently has a market cap of around $280m. Still significant upside to the valuation – see analysis later in post
Investment Merits
Very strong market growth:
  • Business has demonstrated growth both organically (through new store openings, more online sales and greater wholesale sales), as well as inorganically through M&A
  • Growth in markets which High Tide has a physical presence in is expected to be very strong. North American cannabis market (Canada and US) is forecast to grow by 30% a year to 2027 (source: research and markets)
  • Analysts covering High Tide are forecasting growth in excess of this, which is positive to see and implies capturing market share
  • New markets / geographies ‘opening up’, legalizing and regulating cannabis is also an exciting and realistic prospect for incremental growth:
  1. The US federal legalization debate is on the table
  2. Many other countries are considering this too and High Tide is well positioned for these; this is catalyzed by the fact that government debt has increased significantly as part of the response to the COVID-19 health crisis. This needs to be repaid somehow, and increasing tax rates on existing taxes is an unpopular political move. Finding new tax revenues is a more palatable way of increasing tax revenues for governments. This is especially important in countries where elections are upcoming.
  • Personally I do expect to see this accelerate the agenda for the regulation and legalization of cannabis in many new countries
  • Whilst predominantly Canada and US based, High Tide does have presence in some markets where cannabis is not regulated or legalized, the UK for example (~10% of Grasscity sales are made here) and so it is well positioned with a strong and established brand to capitalize on this opportunity, when / if the market ‘opens up’
Regulation
  • High Tide benefits from the regulatory focus and overhang on the cannabis retail sector as it represents a strong barrier to entry, making it more challenging for new competitors to enter market
  • Participants in the market need to have licenses and ensure consistent compliance with laws to continue operating – failure to comply can result in significant financial penalties
  • Personally I normally don’t like investing into retail. There are usually fairly limited barriers to entry, minimal differentiation and negligible customer loyalty, however the cannabis market does have different characteristics in this respect and makes it a more compelling proposition
  • Regulation also benefits those with scale, something High Tide has as the leading player in the market. It costs money to obtain and retain licences to operate and it costs money to ensure compliance with all the laws and regulations and that all staff are acting in accordance with these
  • Some parallels in this respect which can be drawn to casino gaming in casinos; you don’t see new casinos popping up at the same rate which you see new restaurants or apparel stores opening
Demand
  • There’s a lot to like about the demand dynamics for High Tide. It’s vice-nature means that demand is less correlated to disposable incomes. Given where we are in economic cycle, especially important consideration
  • For those doubting this, check alcohol, tobacco or gambling expenditure across economic cycles historically, for a proxy
Strong performance throughout COVID-19 crisis
  • Despite heavy weighting towards brick and mortar, (the most hard hit part of retail) it has effectively managed the shift to online, which is a positive
  • Has relied on government support and financial assistance in the form of job retention schemes (address in more detail later in post)
  • This demonstrates management are capable and have effectively navigated the challenging situation
Data
  • Massively summarized from the video, (and my video on KERN) so check that out if interested in this point, however, they have unique access to supply chain data which could be monetized effectively and generate strong levels of recurring revenues
  • Other established sectors have a trusted party with such unique access to data (e.g. alcohol, lithium, different foods, etc.) and the opportunity here is enormous
  • I would like to see High Tide capitalize on this
Forecasts financials & analysts
  • Currently 2 analysts covering High Tide, both have a buy rating on the business
  • Their coverage is slightly outdated (expect this being updated soon and a further catalyst for positive price action) and their price targets are 60c; at the time their reports were published, they were forecasting a 4x upside (HITI was trading at ~15c)
  • Same analysts also forecasting strong growth - 77% CAGR to 2022. They are forecasting revenues of around $250m and EBITDA of $46m. A reminder here, these are professional analysts, not YouTube students – these come from their financial models, the assumptions of which are discussed with management

https://preview.redd.it/5pwznbe5xmg61.png?width=602&format=png&auto=webp&s=bb1be853d9db5eaa7dc3c7b26630a173bbd064cf
Valuation
  • Going to go quick here, its explained more slowly in the video but High Tide is currently valued at a significant discount to the other listed peers
  • Looking at EV / FY+1 Sales multiples – EBITDA not meaningful as some of the peer group are EBITDA negative and High Tide itself has only recently become EBITDA positive

https://preview.redd.it/l52oajp6xmg61.png?width=342&format=png&auto=webp&s=e31e1944101c6488a24f470bc3b91744f4c2dccf
  • Personally, I think Planet13 is the most comparable given its business model
  • Taking both Planet13 multiple and peer group average multiple, this is then applied to High Tide’s forecast FY+1 sales to calculate an enterprise value – this is adjusted for net debt to get to a market capitalization and then divided by the share count to get an implied share price
  • The table below shows the implied stock price valuations from this analysis

https://preview.redd.it/2j51fwigxmg61.png?width=406&format=png&auto=webp&s=f678c5c66ced846ac45fa698c7e454f71a4232b6
NB – assumed the following:
  1. Net debt will change in coming year given the capital structure and a large number of convertible notes – this has been ignored given it will have small impact on the price
  2. The share count will change as a result of dilution from various instruments – if this bothers you massively then look at the valuation discount on the basis of the enterprise value as it does not impact this (and only slightly on the market cap given minimal impacts to cash from instrument execution, etc.)
  3. Not accounting for any stock split, consolidation or any other M&A deals
  4. The FY21 financials are on the basis of the mean broker estimates from Thomson Reuters – Seeking Alpha has different and slightly outdated ones
Investment Risks & Mitigants / Outstanding DD points
Exposure to changing regulation
  • US is only a small part of the market which High Tide addresses, while a change in regulation would have a big impact on the company, currently it is unlikely this would happen, given the discussions about potential federal legalization
  • Canada regulation is established and not going anywhere
  • Other countries likely to legalize and regulate cannabis, as outlined earlier
Dilution
  • No escaping that there will be some significant dilution for shareholders, as pointed out in the table below, but this should be already priced into the stock
  • Potential that new equity issuances could occur to help finance growth, but provided this growth is delivered, it should be accretive for the stock price

https://preview.redd.it/t0im6idhxmg61.png?width=602&format=png&auto=webp&s=4bff366e68eeeadd5ac49ab5d97885685a327a6b
Potentially misleading cost basis information
  • A risk that investors need to be aware with for all companies which have relied on government financial support during COVID-19 measures. Such support has resulted in the number of businesses going bankrupt decreasing massively – this is at a lower level than it ever normally is and is masking some real underlying issues within companies. As investors we need to be open eyed about this
  • As High Tide has benefited from support in the form of the Canada’s Emergency Wage Support scheme, there is the risk that once this is lifted it may become apparent that the cost base has not been effectively managed
  • Personally, I think this is mitigated by the synergy analysis conducted as part of the M&A. A full cost base analysis would have been conducted to calculate the potential $8.4m synergies so strong likelihood that this is under control, but should keep on our radar and reassess
Marketing expenses and celebrity licenses
  • Need more information to ascertain whether these are underpinned by a compelling ROI. Seen a lot of people suggest this is a great positive, but the impact on sales volumes from these is unknown, as is the terms of these license agreements (e.g. split between upfront fee vs. volume-based fee)
  • No escaping the fact that it is an increased cost and so need to understand the ROI this generates to determine whether it really is compelling
  • Is there really more demand to pay a premium for Snoop Dogg bongs, Guns n Roses papers, Cheech & Chong grinders, or whatever they may be?
  • So far management have suggested this has been helpful in driving new sales, but this is something to dig into more
If you want to check out the video, it would be appreciated: https://youtu.be/qsjwU7kkPsw
submitted by AlexM-YT to HighTideInc [link] [comments]

Not another HITI / HITIF DD post... detailed analysis incl. valuation [re-post after it was deleted on r/pennystocks for some reason...]

I posted this yesterday morning (UK time) but after 5 hours or so, pennystocks deleted the original post. I had a message to share it on here too, so here it is!
--
This is my first time posting a DD post – a friend of mine who moderates on SPACs has shared some analysis I have written previously, but I’m keen to share this here, and see if there is any appetite for sharing my own personal written DD I have on the 30 stocks I have across a number of different portfolios.
I have modified this format, as it was originally a script for a video which I created on the stock. If you prefer to listen – check it out here: https://youtu.be/qsjwU7kkPsw
Some of the market stats (market cap, current multiples, etc.) are correct as of Feb-06, and clearly a little outdated since the price movements.
Not a financial advisor, do your own DD. I am long HITI and have an expectation of a long term hold on this stock.
Overview
  1. Brick and mortar retail – 4 key brands with just under 70 locations in Canada. Brands include: Canna Cabana, New Leaf, Meta Cannabis and Kushbar. Forecast to have around 115 stores by end of 2021
  2. Online retail – has 2 brands, both of which attract millions of viewers per month – Grasscity.com and CBDcity.com
  3. Wholesale – manufacturer of paraphernalia in US and Canada. Number of products are branded with various celebrities, Snoop Dogg, Paramount Pictures, Trailer Park Boys and many more
Investment Merits
Very strong market growth:
  1. The US federal legalization debate is on the table
  2. Many other countries are considering this too and High Tide is well positioned for these; this is catalyzed by the fact that government debt has increased significantly as part of the response to the COVID-19 health crisis. This needs to be repaid somehow, and increasing tax rates on existing taxes is an unpopular political move. Finding new tax revenues is a more palatable way of increasing tax revenues for governments. This is especially important in countries where elections are upcoming.
Regulation
Demand
Strong performance throughout COVID-19 crisis
Data
Forecasts financials & analysts

https://preview.redd.it/9ft3iuw6zmg61.png?width=602&format=png&auto=webp&s=44f5a24a035466bac6e9e72c70eb1edcadf5091d
Valuation
https://preview.redd.it/83j8aqdkzmg61.png?width=342&format=png&auto=webp&s=f06ec34f6de10eeae049710dd59c494f6ef697c9

https://preview.redd.it/1z2ap11mzmg61.png?width=406&format=png&auto=webp&s=775ddc0c9d7e99412dbb4eb1fbbf8ed4645bc235
NB – assumed the following:
  1. Net debt will change in coming year given the capital structure and a large number of convertible notes – this has been ignored given it will have small impact on the price
  2. The share count will change as a result of dilution from various instruments – if this bothers you massively then look at the valuation discount on the basis of the enterprise value as it does not impact this (and only slightly on the market cap given minimal impacts to cash from instrument execution, etc.)
  3. Not accounting for any stock split, consolidation or any other M&A deals
  4. The FY21 financials are on the basis of the mean broker estimates from Thomson Reuters – Seeking Alpha has different and slightly outdated ones
Investment Risks & Mitigants / Outstanding DD points
Exposure to changing regulation
Dilution

https://preview.redd.it/n8dzmapozmg61.png?width=602&format=png&auto=webp&s=12e0e8bbd93f0c5c17920e7a5c5fad2559cc8bf0
Potentially misleading cost basis information
Marketing expenses and celebrity licenses
If you want to check out the video, it would be appreciated: https://youtu.be/qsjwU7kkPsw
submitted by AlexM-YT to TheDailyDD [link] [comments]

A return to gaming in 2020: catching up on a missed decade.

Prior to this year, it’s no exaggeration to say that the only game I’d played in full since about 2010 was the original BioShock. Not really sure why I stepped away from gaming - probably just some usual combination of life getting in the way and dodgy prioritisation. Then, like many others, I became acquainted with a boatload of surplus indoor time this year, and chose to find my way back with an N3DS and a Switch. Turns out I really missed it. I’ve been slowly playing through a variety of titles I missed the first time around, as well as various others I’ve stumbled across along the way.
In compiling this list, I have learned that my gameplay times are crushingly slow, people have extremely strong opinions about the Paper Mario series and actually it turns out a really poorly specced PC was holding me back from gaming all this time. Would love to hear what others thought of this selection of games, especially those who hold dissenting opinions about my DNF list (I expect plenty in support of Xenoblade, lol). Be warned this is all through the lens of someone who is plainly just thrilled to be back in the fold and has zero concerns spending way more time than necessary to complete games! I suspect I have more patience and rosier-tinted glasses as compared to the average weathered gamer, so would also be interested to hear how my experiences stack up in the wider gaming context.
The Legend of Zelda: A Link Between Worlds Total play time: ~30 hours
Zelda factored little in my adolescent years, and apart from renting OoT a handful of times for the 64 (and spamming bombs in SSB) this is pretty much the only Zelda experience I've had. It's kind of a blessing and a curse, from what I can tell: I have none of the hangups but equally none of the emotional connection that often seems to accompany the franchise. I really only played this because it had been given to me and came highly recommended.
But this was about as good as introductions get - sure, it helped that this was essentially the first console game I'd played in its entirety in over a decade, but the game is clearly exceptional by all accounts. It seems I love a good gameplay mechanic where it doesn't tip into gimmickry, and the wall merge system I found novel, baffling and satisfying without ever being too frustrating.
I obviously can't speak to the nostalgia aspect of it, but coming to it fresh was a charming experience. It's pretty hard not to be at least casually familiar with aspects of Zelda lore, and I liked that there weren't any lengthy cutscenes (looking at you, Ōkami) or tedious tutorials to slog through. The storytelling is a little naff but not distractingly so, and for me the pretty predictable ending was offset by the fun final boss battle. And you sure do feel good solving some of those puzzles.
I'm not yet game to branch out into the open world of BotW, but I'm pretty glad my maiden Zelda foray was this one instead. More games ought to allow one to become a painting.
Highlights: big bomb flower lols, boss battles that were satisfying / a great relief to complete
Ōkami HD Total play time: 50:57:29 Completion %: 50/100 stray beads
I remember seeing promo material for this game back when it was first released and thinking the brush mechanic was dope - a hype disproportionate to the amount of PS2 I owned (none). So regardless I was probably always going to be predisposed to like this game.
This was the first game I finished on the Switch and I enjoyed it immensely. The art style is killer and helps it look great for a game of its age into the bargain, the brush mechanic and the puzzle element it introduces feels integrated rather than gimmicky, and the storytelling is rich and humorous. I know others have commented that the game is overly long, but I enjoyed being in the world enough that it never felt a slog. (This coming from someone who has played 100+ hours of Picross but…)
I will agree that the combat system was pretty whatever, though. I am a pretty rubbish gamer by conventional skill standards and even I found this game wildly easy, but I think that also speaks to my enjoyment of the game as an all-round narrative experience rather than pure mechanics. An additional dishonorable mention for having to fight Orochi no less than three times?! Sure, going back in time was a pretty neat narrative arc and I could forgive repeating the fight in that context, but by the Ark I was sure they had to be taking the piss.
Unlocking the additional skins gives this game some replay potential for me, especially the photorealistic wolf, laughable only in hindsight. The existence of about twice as many stray beads as I collected also means I may dip in and out in future, but mostly I have minimal desire to bring my dragon-head-whacking count up to 48. Nevertheless, a pretty inimitable experience, even if it took me a decade and a half to get there.
Highlights: the dang art style, drawing an emoji face for my demon mask and seeing it show up again in Sei-an City
Paper Mario: Sticker Star Total play time: ~30 hours
I can understand the criticism of this game: the combat system sucks and makes traversing through the world often not very fun, the characters are unmemorable, the necessity of having certain stickers to win certain fights is infuriating, the plot is generic, the lack of levelling up is nonsense. None of that stopped me from enjoying this game, though! Take that! As always, this was probably helped immensely by the nostalgia I carry for the original Paper Mario on the 64 and the fact I hadn’t really had any other Mario games to compare it to for a long time.
The super vitriolic abuse it seems to cop online feels a bit disproportionate but. From poking around the series, it looks like one that people are particularly vocal about, with the only correct answer being “TTYD is the best game in the series and all other future titles will be held against this specific benchmark”. Honestly I’m just glad I played this game without the knowledge of what the gaming community thought of it, because I don’t think this is a genuinely bad game.
Kirby: Planet Robobot Total play time: ~20 hours Completion %: 81%
Evidently I rather enjoy the cute-thing-in-a-mech-suit genre, between this game and Gato Roboto. But I have very fond memories of playing The Crystal Shards and am a Kirby main (lol) in SSB so I could probably be coerced into playing literally any Kirby game. I don’t have too much to say about this game; I think anyone familiar with the franchise will understand pretty much how it plays, but the mech suit mechanic is a heap of fun, with copy abilities possible both in and out of the suit.
There were some little details that I thought were quite fun: the collection of stickers that you can use to decorate your mech was bonus entertainment, the variety of gameplay styles in the final boss battle, the remote control Kirby in the casino levels. It looks great, it’s charming, and as mentioned, I like an idiosyncratic feature that isn’t gimmicky, and I think the mech suit ticks that box. I picked up Extra Epic Yarn off the back of this, too - it just looks so dang sweet.
What the Golf? Total play time: 08:24:56 Completion %: 97% Total strokes: 11656 Games I subsequently want to play: Superhot
If there ever was a time for escapism, the middle of a pandemic seems to be a pretty good candidate, and I am certainly guilty of using this game as a bit of a feel-good salve. But what the golf, it was a grand old time, and I think we can all use the laughs it provides. I bought the game off the expectations set by the trailer and was happily not disappointed.
This is a pretty straightforward game by all standards: simple overworld, three levels per stage, emphasis on silly in "silly physics". It feels like the schtick should get old pretty fast, but there's enough sly nods and references (and straight-up gameplay duplication) to keep it fresh and consistently funny. Caveat: pun disdainers avoid.
It's the perfect game to dip in and out of - none of the stages are particularly long, and while some of the pacrown levels can be a bit frustrating, you're not at all forced to complete them in linear fashion. Nevertheless, I played this game in pretty lengthy stints, so the format isn't a barrier in that sense either.
I know this is a fairly new game to the Switch, but it's been out on PC for a while it seems. I bought it only having seen it in the eShop, so if there was a hype train, it did not make a stop at my station.
Highlights: the Superhot levels, WHAT?, the constant anticipation of what a button press would do in a new level
Ori and the Blind Forest Total play time: 14:44:46 Completion %: 96% Total deaths: 488
It’s something of a classic, and evidently with good reason - I think I would have played this game for its art alone, but of course its reputation has since come to precede it. It runs really smoothly on the Switch, and the platforming is tight and enjoyable. Not sure how common it is in the wider world, but I really liked the save mechanic - as a chronic saver, I rather appreciated being responsible for setting my own save points, especially when it came to some of the more challenging sequences. I expected to struggle a lot with this one but I found the challenges fair, even the escape sequences, much as I may have wanted to burn down the Ginso Tree on the first few attempts.
Feels like most people who’ve had an eye on it have played it by now, and there’s plenty of reviews out there for those on the fence to decide either way, but personally I’m very glad to have played and finished it. I’ve since been told that both the sequel and Hollow Knight eclipse this game, though I do have some idea of what to expect from both. Now if Will of the Wisps could just get a Switch port...
Mosaic Total play time: ~3 hours
I’d been wanting to pick this game up because a friend of mine had a hand in its creation, but I kind of could not have picked a worse time for it. Without spoiling anything, the premise of the game is being stuck in a very boring corporate dystopia, and a lot of the gameplay revolves around the repetition of your daily routines. Obviously this kind of experience can already be a little harrowing at the best of times, but in the middle of a global pandemic where time feels completely immaterial it was often a bit much.
Certainly the gameplay won’t be for everyone; there is a lot of walking around in this game, and you can interact with various depressing billboards and your smartphone in ways you think might have some kind of a purpose but ultimately formally contribute nothing to your game - so in that sense, it’s kind of a bang on expression of its premise, though its messaging can be a little on the nose at times.
If you’re into the visual style and can get down with the premise, this is a unique gaming experience which is both lovely and deeply unsettling at times. If you’re at all curious, the website gives a fairly clear mission statement of the game.
Gato Roboto Total play time: 05:23:28 Completion %: 78%
Short and sweet, this one, and looks and feels great. I’d never really picked myself as one for metroidvanias, but this game came onto my radar after Ori and I was looking for a shorter, punchy game in a similar style, and this delivered on expectations.
As mentioned, I’m kind of crap at games, so the difficulty for this one felt about right for me. There were a handful of times the boss battles threatened to tip into frustration, but mostly it was just my timing being off (second stage of the mouse battle in the heater core comes to mind) as well as in the earlier parts of the game where I had just been lax in picking up healthkits.
I’ve seen some complaints about it being too much of a Metroid clone, but you can’t get down with that criticism if you’ve never played Metroid *taps head*. Its short length seems to be another frequent comment, but if you’re going in with expectations suitably managed then I think there’s not too much to fault otherwise. But of course this is coming from someone who has played basically no metroidvanias in their life lol.
And finally, my DNF list:
submitted by theburningflame to patientgamers [link] [comments]

Ontario Stage 3 Reopening Megathread

As always this information comes straight from the official Government of Ontario's "Framework for Reopening Our Province". This is not meant to be a complete guide but only some information for a regular person to understand what's open and what isn't. This post will follow a similar format to the Stage 2 post. This post will be updated when new information becomes available, if any is missing please let us know. Please report any inaccuracies.
July 31st Updates:

Am I in Stage 3?.

  • All regions are in Stage 3.

What is remaining closed in Stage 3?

The Chief Medical Officer of Health, public health experts and other officials have advised the following high-risk places and activities are not yet safe to open, due to the likelihood of large crowds congregating, difficulties with physical distancing, or challenges maintaining the proper cleaning and sanitation required to prevent the spread of COVID-19:
  • Amusement parks and water parks
  • Buffet-style food services
  • Dancing at restaurants and bars, other than by performers hired by the establishment following specific requirements
  • Overnight stays at camps for children
  • Private karaoke rooms
  • Prolonged or deliberate contact while playing sports•Saunas, steam rooms, bath houses and oxygen bars
  • Table games at casinos and gaming establishments.

What are the new gathering limits?

Based on the advice of the Chief Medical Officer of Health and public health experts, gathering limits for regions in Stage 3 will increase. The gathering limit of 10 people indoors or outdoors will continue to apply for regions in Stage 2 until they enter Stage 3. Social circles should continue to be kept at 10 people province-wide, regardless of stage.
  • Indoor gathering limits will increase to a maximum of 50 people
  • Outdoor gathering limits will increase to a maximum of 100 people.
  • In all cases, individuals are required to continue to maintain physical distancing of at least two metres with people from outside their households or social circles.
  • All businesses, services and public spaces when hosting an event are subject to indoor or outdoor gathering limits and ensuring physical distancing can be maintained.
  • People at their place of work, including performers and crews, do not count towards gathering limits.
  • People gathering indoors for religious services, rites or ceremonies, and wedding ceremonies or funeral services, can continue to fill up to 30 per cent of the capacity of the particular room, as introduced in Stage 2.

When Do Gathering Limits Apply?

Based on the advice of the Chief Medical Officer of Health and other public health experts, gathering limits apply to higher risk settings and activities where people congregate, including:
  • All organized or spontaneous indoor and outdoor events and social gatherings(e.g., parties, fundraisers, fairs, wedding receptions, funeral receptions)
  • Casinos, bingo halls and gaming establishments
  • Concerts and live shows, including performing arts
  • Convention centres and other meeting or event spaces
  • Recreational attractions, courses and instruction (e.g., fitness classes, music lessons,tutoring)
  • Festivals
  • Facilities for sports and recreational fitness activities (e.g., gyms, fitness studios)
  • movie theatres
  • Sporting and racing events
  • Real estate open houses
  • Tour and guide services (including boat tours)
Now for some additional restrictions

Amusement Parks and Water Parks

Amusement parks and water parks are not yet permitted to open in Stage 3

Casinos and Charitable Gaming Establishments

  • Table games must remain closed.
  • Casinos and charitable gaming establishments are subject to gathering limits and physical distancing measures, which apply to the entire facility.

Convention Centres, Meeting and Event Spaces

  • Convention centres, meeting and event spaces are subject to physical distancing measures and gathering limits, which apply to the entire facility

Facilities for Sports and Recreational Fitness Activities

Examples of facilities for sports and recreational fitness activities include gyms, fitness studios, and community centres.
  • Physical distancing must be maintained, except if playing a team sport or as needed for personal training.
  • The total number of people permitted in areas containing weights or exercise machines is limited to the number of people that can maintain physical distancing of at least two metres, whichcannot exceed the indoor gathering limit of 50 people.
  • The total number people permitted in classes or organized activities at any one time is limited to the number of people that can maintain physical distancing of at least two metres, and cannot exceed the indoor gathering limit of 50 people or the outdoor limit of 100.
  • Assigned spaces are strongly recommended for organized fitness classes (e.g., by marking circles on the floor to designate where each person should exercise)
  • Gathering limits do not apply in all other areas (e.g., pools, tennis courts and rinks).
  • Equipment must be cleaned and disinfected between user sets or at the end of a game.
  • Any washrooms, locker rooms, change rooms, showers or similar amenities made available to the public must be cleaned and disinfected frequently.
  • Steam rooms and saunas are not yet permitted to open.

Fitting Rooms

  • All fitting rooms may reopen, as long as patrons are not permitted to occupy adjacent fitting room stalls at any one time.
  • Cleaning and disinfection between fitting room customers should continue

Interactive Exhibits at Museums, Attractions and Heritage Institutions

  • In addition to the exhibits opened in Stage 2, high-contact surfaces such as interactive exhibits and displays may open. They must be cleaned and disinfected frequently
  • All special events, instructional classes and performances at these locations are subject to gathering limits and physical distancing measures.

Libraries

  • In addition to the services resumed in Stage 2, libraries may reopen for all on-site services, as long as materials that are circulated, returned or accessed within the library are disinfected or quarantined before being recirculated.

Live Shows, Performing Arts and Movie Theatres

Concerts, artistic events, theatrical productions, performances, and movie theatres may resume operations, including rehearsals, with the following restrictions
  • Performers must maintain physical distancing of two metres from every other person,except from other performers where necessary for purposes of the performance.
  • Audiences are subject to the number of people that can maintain physical distancing of at least two metres and cannot exceed gathering limits of 50 indoors and 100 outdoors.This applies to the entire facility, regardless of the number of theatres or performance stages within the facility
  • Performers and staff are not included in the gathering limits.
  • Plexiglass or some other impermeable barrier is required between the audience and singers as well as players of brass or wind instruments
  • Drive-in and drive-through venues, as permitted in Stage 2, are not subject to gathering limits
  • Concessions stands at drive-through venues may be accessed in-person or by drive-through or delivery to vehicles

Personal Care Services

  • In addition to the services permitted in Stage 2, all services that tend to a customer’s face are permitted (e.g., facials, ear piercing, eyebrow grooming and eyelash extensions).
  • Patrons must wear face coverings except while receiving services on an area of their face that would otherwise be covered by a face covering.
  • Personal care services must take measures to enable physical distancing between patrons, such as limiting the number of people who may be in the business at any one time.
  • Businesses should also consider recording each patron’s name and contact information to support effective contact tracing in case of an outbreak.
  • Oxygen bars, bath houses, steam rooms and saunas are not yet permitted to open.

Playgrounds and Play Structures

  • Outdoor playgrounds and play structures are permitted to reopen in Stage 3.
  • Physical distancing of at least two metres must be in place at all indoor playgrounds and play structures, except between individuals from the same household or social circle

Recreational Courses and Instruction

Examples of recreational courses and instruction include music lessons, language classes, tutoring and art classes.
  • All instructional classes are subject to gathering limits.
  • Physical distancing must be in place for participants, other than when necessary for instruction. Face coverings are recommended in those situations
  • Equipment must be cleaned and disinfected frequently
  • Plexiglass or some other impermeable barrier and physical distancing are required for any instruction that involves singing or playing wind or brass instruments

Recreational Attractions and Businesses

  • Examples of indoor recreational facilities and attractions include arcade rooms, escape rooms, bowling alleys, and pool halls.
  • Physical distancing of at least two metres must be in place.
  • Equipment must be cleaned and disinfected frequently.
  • Karaoke is permitted only outside of private karaoke rooms, which are not yet able to open in Stage 3, with restrictions including barriers, physical distancing and increased cleaning and disinfecting.

Restaurants, Bars and Nightclubs

  • All restaurants, bars, concession stands,and other food and drink establishments may open for indoor dine-in.
  • Nightclubs are not yet safe to open, except for the purpose of serving food or drinks to patrons in accordance with the conditions that apply to restaurants and bars
  • All patrons must be seated when eating or drinking at the establishment.
  • Establishments must take appropriate measures to ensure physical distancing of at least two metres between patrons from different tables, unless separated by plexiglass or some other impermeable barrier
  • Buffet-style service is not yet permitted in Stage 3.
  • Singing or music may be performed by a person or group at the restaurant or bar, with restrictions, including barriers between the performers and patrons and physical distancing. Dancing may only be performed by someone working at the establishment with restrictions
  • Karaoke is permitted only outside of private karaoke rooms, which are not yet permitted to open in Stage 3, with restrictions including barriers, physical distancing and increased cleaning and disinfecting.
  • Physical distancing of two metres between patrons from different households or social circles also continues to apply to food trucks, food courts, concession stands and tours, including tastings at wineries, breweries and distilleries.

Team Sports and Live Sporting Events

  • Prolonged or deliberate contact while playing sports is not permitted.
  • Team sports in which body contact between players is either an integral component of the sport or commonly occurs while engaged in the sport (e.g., wrestling, judo) are not yet permitted, unless the approach can be modified to prevent prolonged or deliberate physical contact
  • Amateur and recreational sports leagues may resume so long as they do not allow prolonged or deliberate physical contact between players or if they have modifications to avoid physical contact between players.
  • Leagues must contain no more than 50 participants total. If participants in a leagueexceed 50, the league may divide into smaller groups of no more than 50. Players are not yet permitted to play against players outside of their league or group.
  • Spectators at all sporting events, including professional sports, will be subject to gathering limits and physical distancing measures, with assigned seating where possible

Tour and Guide Services

  • For tour and guide services, including boat tours, the number of patrons is subject to gathering limits.
  • Physical distancing of at least two metres must be maintained between all individuals, except for those from the same household or social circle.
  • The outdoor gathering limit of 100 applies if patrons will be outside for the duration of the tour except to access washrooms, in transit to an outdoor area, or for health and safety reasons.
  • As with other gatherings and events, the indoor gathering limit of 50 applies if the gathering is fully or partially indoors.

Beyond Stage 3

The health and well-being of the people of Ontario will continue to guide every step of the government’s response to COVID-19. The success of Stage 3 will be critical for Ontario’s long-term economic recovery. As more businesses and activities reopen, the Chief Medical Officer of Health and public health officials will continue to closely monitor the evolving situation to advise when more regions can enter Stage 3, if public health restrictions can be further eased, or if they need to be tightened or reapplied.
With almost all businesses and public spaces reopening in Stage 3, Ontario has put enhanced case and contact management in place to quickly test, trace and isolate cases of COVID-19 to prepare for any future outbreaks, surges or waves. Just as important, people must continue to follow public health advice and workplace safety guidelines to keep each other safe. This is about treating each other with respect and taking personal responsibility, so that we can successfully beat COVID-19 and get on the path to a strong recovery.
The COVID-19 pandemic has affected everyone. As more of the province safely and gradually reopens, people are encouraged to support small businesses in their communities, shop local and look for products that are Ontario made. We are all in this together, and together we will emerge stronger than ever before.
The Ontario Spirit will continue to carry us forward as we work towards recovery and begin building a brighter and more prosperous future for every family, in every region of our province.
submitted by uarentme to ontario [link] [comments]

[Thu, Jan 07 2021] TL;DR — This is what you missed in the last 24 hours on Reddit

worldnews

Angela Merkel: Trump shares blame for US Capitol storming
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New Zealand Prime Minister Jacinda Ardern: Democracy "should never be undone by a mob"
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Mexican president offers to vaccinate unlawful migrants in U.S.
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news

Congress has certified the 270 Electoral College votes needed to confirm Joe Biden's presidential election win.
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Warnock, Ossoff win in Georgia, handing Dems Senate control
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Police remove barriers to mob storming US capitol, taking selfies
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science

Before the pandemic, one-third of US households with children were already “net worth poor,” lacking enough financial resources to sustain their families for 3 months at a poverty level. Their savings are virtually nil, and they have no financial cushion to provide the basics for their children.
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US politicians who engage in “negative partisanship”, referring to hostile, nonsubstantive rhetoric about an opposing party or statements emphasizing defeats of partisan opponents, are not rewarded with higher evaluations from citizens. Voters don’t want representation focused around polarization.
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For young adults in the 18–24-year-old age group, pornography was the most commonly endorsed helpful source about how to have sex, as compared to other possible options such as sexual partners, friends, media, and health care professionals. This was more likely for males and heterosexuals.
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space

NASA wants to deorbit the International Space Station before the end of this decade. Axiom plans to replace the International Space Station and potentially save NASA billions per year.
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Galaxy-Size Bubbles Discovered Towering Over the Milky Way. For decades, astronomers debated whether a particular smudge was close-by and small, or distant and huge. A new X-ray map supports the massive option.
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Earth is whipping around quicker than it has in a half-century
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Futurology

‘Incredible’ gene-editing result in mice inspires plans to treat premature-aging syndrome (Progeria) in children
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New Atlas: New catalyst converts common plastic waste into fuels (77%) and wax (15%)
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U.S. law sets stage for boost to artificial intelligence research
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AskReddit

Couples therapists, without breaking confidentiality, what are some relationships that instantly set off red flags, and do you try and get them to work out?
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What were weird myths you thought about sex as a kid?
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What’s the greatest mental health tip you’ve gotten?
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todayilearned

TIL in 2013, a 9 year-old British girl passed through Turkish customs with a toy passport with gold teddy bears on the front that identified her as a unicorn. Her mother accidentally handed over the passport that the girl had made for her toy unicorn, and the customs offіcer accepted and stamped it
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TIL Ants sleep by taking about 250 one minute naps throughout their day. It totals just under 5 hours of sleep. This allows for 80% of their colony to be awake, working and prepared at any given moment.
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TIL Jerry Seinfeld is banned from the New York soup stall that he used for the basis of The Soup Nazi episode of Seinfeld. Weeks after the episode aired, Seinfeld went in for lunch, and chef Al Yeganeh asked him to leave, unhappy with the moniker the show had given him.
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dataisbeautiful

[OC] Numerical Simulation of Traffic Jam Formation
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[OC] types of alcoholic beverages consumed in terms of pure alcohol content by country, 2018
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[OC] By applying a collector's curve to large marine animals (>2m) I’ve determined that there are six sea monsters left to discover. Video explanation and sources in comments.
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Cooking

My cooking challenge of 2020 : ended up making 150 different recipes from 114 different countries.
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I have plain vanilla ice cream in the freezer. What ice cream toppings can I make quickly out of ordinary ingredients?
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Eggs-hate them but I want to like them
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food

[Homemade] Brioche Doughnuts
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[Homemade] Smoked Beef Back Ribs
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My take on Tonkotsu Ramen with spicy umami bomb. [homemade]
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movies

New images of Dave Bautista and the cast of Zack Snyder's 'Army of the Dead' - A group of mercenaries plot a heist on a Las Vegas casino during a zombie outbreak.
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Ray Fisher’s Cyborg Written Out of ‘The Flash'; Role Won’t Be Recast
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Netflix’s next big science fiction movie is set to debut next week: Outside the Wire, a military science fiction thriller starring Damson Idris as a soldier assigned to assist a classified military robot (played by Anthony Mackie) in a war zone.
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Art

If I can't have her... , Adam the Creator, Digital, 2021
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Trump-O-Matic, Mark Bryan, Oil on Canvas, 2016
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United Screams of America, Me, 2021
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television

Stephen Colbert's Live Monologue for Jan. 6, 2021
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Aziz Ansari's Master Of None to return. Season three to be shot in London
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WandaVision has been officially rated TV-PG
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pics

How it started and how it ended
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Domestic Terrorism
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The Capitol police removes disabled people as they protest healthcare changes, in 2017.
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gifs

Police letting Trump rioters into Capitol
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A relaxing bath for a stressful times
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BBQ
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educationalgifs

A great white shark may grow and use 20,000+ teeth in its lifetime. Also, it has 5 rows of teeth at any given time & will never run out of teeth because if one is lost, another spins forward from a coil-like tooth reservoir of backup teeth in the jaw and spins forward to replace the old one.
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mildlyinteresting

This McDonalds hasn't been renovated since the 80's/90's.
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Two toned deer I saw this morning
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I found a cake vending machine
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interestingasfuck

During the four years of the Civil War, Ft. Stevens was the closest the confederates got to Washington. During the insurrection on the US Capitol building today, supporters of Donald Trump carried the confederate battle flag through the Capitol as they committed attempted sedition.
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The door to the dining area of the Alcobaça Monastery in Portugal was made narrow so that monks who got too fat were forced to go into fasting.
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Street artist Kevin Lee called his work "the invisibility of poverty".
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funny

My little sister bought accessories for her cat. This is the result. Thug Lyfe
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Giddy up!
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How are we feeling today?
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aww

My mum made this for me!
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I present to you the best dance move the turtle shake
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Kitten focusing on the important stuff
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Random Subreddit of the day: asexuality

These are its 3 top posts of all time:
I’m 62. It’s time.
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this is so much better
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Representation matters
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submitted by _call-me-al_ to RedditTLDR [link] [comments]

Meta Snapshot by Moonboy!

Finally got the time to do up a meta snapshot for the community We have worked together with Xiaoken to produce much more quality and accurate snapshot for you guys as Xiaoken will be covering more tournament formats while I will cover more on the ladder portion both spreadsheet are found in the link provided below. Video will be done with explanation by myself as well. So feel free to feed back or ask any questions if u have any.
A little sum up of what's our take on the tier list
Tier S- Lee & Zed, One Kick Lee(Mono Lee), Pirate aggro, TF Swain
Tier A- Freeze midrange, Barrier midrange, TF/GP , Warmother's control, Mindspplitter control
Tier B- Nightfall Aggro, Casino aggro
Spicy- Veemo, Goat Elusives
Hope this content would help everyone with their climb!
Cheers,
Moonboy_gaming BLASTING OFF!
https://docs.google.com/spreadsheets/d/1fugjrchQNyjUYBs06l0yrUKMrWDwXqeKssG8UdEE4YA/edit#gid=2099691022
https://youtu.be/8fLp24CTiTg
submitted by moonboy_gaming to LoRCompetitive [link] [comments]

JoJo's Bizarre OC Tournament #5 - Round 2 Match 10 - Bert and Emilie "Dread" Delacroix vs John "Jack" Aurel

The results are in for Match 8.
Agnes and Arpeggi, in their shrunken states, continued to fight, surrounded by the rising flames of their lilliputian tower, fists flying and Stand blows being taken one after the other.
“You… Callous mother fucker!” Arpeggi cursed, Agnes feeling the singe of a heat blast both from behind and from launched wood. “We’re not aiming for a massacre!”
“You’re not,” Agnes spat out, then, pulling a tab on the table, a massive geyser erupting and launching his so-called ally away, “I don’t give a fuck about this place, and we’re in a Stand battle… And it’s all worthless, greedy scumbags watching! Let the fire spread! Let this place hit the ground so they see what someone with style can do!”
“You heard it here, folks! Agnes talked you all down… C’mon, where’s your passion! Don’t run out and away, c’mon! And here I thought you cared y’had money ridin’ on this…”
Conqueror Worm’s laughs reverberated as Glitch and William found themselves cooled by Ocean Eyes’ nectar, which found itself dissolving quickly but, for the moment, a functional barrier for the injured fighters, watching and listening to what happened.
“Th… They’re fighting each other up there…” William remarked, physically looking as though he was straining to force Ocean Eyes not to hurry up there and tear them a new one. “Glitch, we don’t have time to keep the flames at bay and call up another KST, and if I let Ocean Eyes up there it’ll eviscerate them, and-”
“What’s this? The kid is holdin’ back, afraid of his own Stand! Hey, kid, don’t hate this part of yourself! Ocean Eyes, it ain’t your enemy, that’s a part of you, what makes you special, so don’t be at odds with it! Embrace what it says, because it’s what YOU’RE sayin’!”
William was speechless, there, but his companion was less inactive in that time. Tiger “Glitch” Ricky simply hissed, then, her and her Stand hopping up out of the flames in an effort to brutally, mercilessly pounce upon the self-styled villain and the ally he had come to blows with. If they moved fast, they could bite through that shitty little twink’s neck right now!
Arpeggi grit his teeth, scrambling to find his footing as he witnessed the pouncing cat-stand, finding it hard to breathe among all the burning rubble, fading fast then.
Is… Is this how it ends..? Crushed and mangled as some lowlife’s burnt-up game piece..?
“And it looks like Glitch is about to take it! Shout-outs to Tigran, the only real one here, watchin’ through the fire and the flames!”
“Heh… This is just a bit of a sweat,” Tigran Sins answered, stifling a cough, “I’ll see all seven of these bastards run through games until they’re all-”
Arpeggi didn’t hear what was said next, only hearing his own defiant heartbeat. If he didn’t act fast, Agnes would die… Good riddance, right? But… Ugh, no, even scum like him, they don’t deserve…
He clutched at NEXT LEVEL until his fingers bled, and Glitch and William, both looking at him past their Stands waiting to attack, made curious sounds as yet more crumbled away.
“Mrr?!”
And then, there was white. An overwhelming cascade of baking soda burst from NEXT LEVEL, smothering the flames rapidly as an obscured form zipped up the tower again, grabbing Agnes and hurrying away from the thrown-off Glitch.
“You… Why did you…” Agnes rubbed baking soda out of his eyes, coughing and looking at the form of Arpeggi in this new Stand. “Motherfucker…”
“I have responsibility over even a scumbag like you… You tailed me here, and I’m not gonna let you die and escape responsibility easy.” He turned, then, to William and Glitch, his new form revealed. “Now, actually help me, follow my lead, and I’ll kick your ass later. We need to survive this-”
All four of the fighters, then, felt themselves grow rapidly, their combined weight so close together crushing the table they were on, much as a nearby tabletop wargame that had been setup found itself buckling under the weight of Metra, Oh No, the Black Angel, and their motorcycle.
“Welp,” Worm said with a bemused laugh, holding up the slumped body of Tigran. “Your fire couldn’t hurt him, but smoke inhalation sure could! I guess that means…”
“The winner is FIRE, with a score of 65!”
Category Winner Point Totals Comments
Popularity Graveyard Shift 12-17
Quality Graveyard Shift 19-20 Reasoning
JoJolity BADD GUYS 24-18 Reasoning
Conduct Tie 10-10
With no more reason to fight, it got really awkward and everyone just sort of ran out of Heartache Casino. William Eyelash, recalling his stand and lost in thoughts, was the last to leave, joining the others in leaping single-file out a window into a nearby alley.
There, though everyone else seemed tensely uninvolved, the Black Angel’s motorcycle revved, and she stared down Worm as he safely stowed Tigran inside his Stand-body, leaning on his golden sword.
“There’s still something I need, Jones… I’ll run you down to get it if it means saving the city.”
Worm laughed, gesturing with his sword. “This thing? You’re huntin’ me down for this… Ah! I see! You’re tryin’ to do that.” Callously, he tossed it, so suddenly they fumbled with it in hand. “Here ya go, then! I don’t much want what Jack Aurel’s cookin’ up either!”
The Angel, worn and exhausted, stammered. “I… You just… But…”
“Lookin’ forward to killin’ me, huh? Get in line, kid… Or waste your time right now! See, nobody here is botherin’, they can all read that it’d be a waste when I’m in such good health! City’s countin’ on you, yeah, and you won’t get many opportunities for bein’ called a hero as an adult. Make it count!”
Then, before anyone could say more, he darted through a nearby wall, waving William and the rest off with a, “Ah, we safely may trust to its gleaming and be sure it will lead us aright!”


“Asshole.” The Angel turned away, strapping the sword to their back and driving away. “Thank you, all of you. I’ll take this from here… Get yourselves help.”
There was silence as they drove into the sky, scarf billowing before them, and then Agnes started cackling. “You’re all fucking morons… If I didn’t burn that place down, we wouldn’t have gotten away, and some wannabe with no style would be going down as Los Fortuna’s worst villain! Fucking bow and grovel, Jack Aurel’s grave is gonna say ‘spat on by Agnes!’”
Nobody had the energy to dignify that with a response.
An anticlimax is leading into a super-climax, and meanwhile, an ant-loving little boy and an aid worker are racing through their dreamscapes, with a day left to vote there.
Narration:
What is, as of the 1990s, ‘Capital Island,’ was the epicenter of Los Fortuna’s founding several hundred years ago, in the midst of a bloody Stand User conflict, many militias clashing for superiority, in the 1680s, starting with the death of the era’s own Andrew Tiffany, the missionary William Mandolin, and towards its end, knocking people into their senses through the awakening of exactly what he had tried to warn them of.
A grand T-Rex by the name of Megalomania had survived, dormant, underneath the land through the might of its Stand, coated in a goldlike substance, and awoken in a deep rage by the conflict of the locals. Megalomania was met in battle by a man out of place named Aaron Bruno, ‘Sir Aurel’ to most, and Memory Management, and when slain, crumbled where it stood into a pile of bones, feet firm in the ground.
Los Fortuna’s natural history museum was built around this monster’s remains, and Sir Aurel would turn its golden coat into a ceremonial weapon. The power these symbols were imbued with, even with their old purposes lost, were of great importance to the city’s stability.
Scenario:
Outside Los Fortuna’s Natural History Museum, Early Evening
In the blink of an eye, the attention of everyone within Los Fortuna had been turned to the natural history museum. That made sense, of course - considering the looming dark clouds containing the ghosts of the dead within them, the scuffles of the stand users outside of the building, and the vague knowledge that a ritual with the purpose of destroying fate itself was currently being performed within it, it would be out of the ordinary for people to not be paying it any attention. Even those who weren’t stand users that were up to date with the situation were drawn to it by the unusual level of activity surrounding it, from emergency services and VALKYRIE forces alike.
And then there was Bert. They were invested in the whole situation, of course - keeping up with the latest reality-breaking ancient rituals was the least that a wannabe god like them could do. Their status as an observer did raise a few eyebrows - they’d had to shake off both emergency service workers and VALKYRIE forces, who’d both taken the time to try and encourage Bert to leave the area for their own safety, clearly underestimating Bert’s own prowess.
Within the chaos, one could be excused for not failing to notice the drones Bert had been sending around to overhear and oversee it all. First, they paid attention to the chief of security at VALKYRIE, Ugo McBasie, who seemed to be getting interviewed by someone from the Fortuna Hermod, an ODIN-owned news publication (not their usual guy at scenes like this… Wonder what happened to him). Bert had heard that the man was a violent and irresponsible meathead who’d caused plenty of trouble in the past, but he seemed to be keeping a thin veil of professionalism for now. However, Bert couldn’t help but notice a young man in a blue aviator cap standing a few meters behind the reporter and staring daggers at him, perhaps keeping him in check somehow, occasionally piping in for comment about how it was all they could do to surround the place and wait for an opening if they didn’t want a meat grinder on their hands.
Meanwhile, Los Fortuna’s own city council chairman, Raymond Delwin Shimizu was discussing something of note with someone else, who seemed to have just finished an interview of his own. Bert didn’t recognize him, but the interviewer had called him “Chief Prosecutor Cavallo”, and she seemed as if she knew what she was talking about, so Bert opted to believe her. The interviewer, Jillian Something-or-other, had been running all over the scene, trying to get interviews alongside her oversized cameraman Bert recognized as having been that really huge cop who used to hang around Aurelio a lot of the time not successfully doing his job. Not worth Bert’s time.
Cavallo scratched his head in frustration. “Chairman, please tell me that you’ve made progress of some kind here...”
Ray shook his head. “Not much. That stand user that’s working alongside Jack Aurel, Akiko Mizushima, is making it impossible to get in - anyone we do send in is as good as gone. We haven’t even been able to get Admiral Pineapples out. Judging by your demeanor, I assume that the board hasn’t made much progress either.”
“No, doesn’t seem like it.” Cavallo let out a long sigh. “Every day, it’s just more and more work… Now we’re stuck having to deal with this. If nothing’s done, the board’s thinking it might very well cause a disaster unmatched by… Well, anything but the earthquake from thirty years ago. Something like this, bending the rules of the city, and breaking free from it… Los Fortuna’s probably not going to let that slide easily.” He shook his head. “Where the hell is the mayor through all this? Watching anime at home or something, probably.”
Ray remained silent for a bit, thinking to himself. “Well, we’ve got emergency services ready to act for now, and we’re working on evacuating any susceptible areas, but it only works so much.” Before Cavallo could respond, another reporter came up to Raymond, ready with a batch of questions for him. “Well, Cavallo, our work isn’t done yet, so let’s get to it. Saving as many people as possible here should be our utmost priority.” And with that, the two men parted ways for the time being.
Having listened enough, Bert began thinking to themselves. This was a tricky situation - they clearly couldn’t get in as is, but they certainly wanted to. Learning more about the situation at hand would improve their knowledge of the mechanisms holding Los Fortuna together, and gaining control over the ritual somehow would certainly be a feat befitting of a god such as them.
Bert stood in front of the museum entrance, taking another look at the chaos in front of them and continuing to think about the next step they’d take. So many different possibilities, so little time. They thought, and thought, and then one of their drones’ eyes glanced upon someone familiar - a blue haired, red eyed woman wearing a mask, trying to blend in and clearly resenting it, skulking around the perimeter of the area as though she, too, wished to enter.
Yet despite her efforts, Bert recognized her.
“Emilie ‘Dread’ Delacroix!” They declared it loudly, thoughtlessly so, approaching her with a hand raised. “Are you perhaps looking to find a crevasse through which to enter that place as well? It’s quite fortified, isn’t it?”
“Hm?” She wasn’t bothered by the way Bert drew attention to her, still wearing her same very extra outfit under the also quite extra hooded dark robe she was using to blend in. “Ah, pardon me dearly for having failed to notice you… You are Bert, from that incident where we fought on equal terms, yes?”
“I am that same Bert, Emilie ‘Dread’ Delacroix, yes. Though I doubt I could be much mistaken for others…”
“We are both quite conspicuous individuals, yes,” Dread said, taking the conversation into a nearby alley before VALKYRIE goons on the scene could prove it was her, “but no, I’m not terribly nonplussed about my abilities to infiltrate that place… Simply, I am attempting to assess the probability by which my approach itself, through the barricades erected, might occur. If your intentions happen to be helping me sneak through, then it is simply not necessary on any fronts… I have formulated a plan now.”
Dread, now appearing alone, walked through that alley curiously, looking around her and beginning to see her opportunity of approach - there appeared to be a side door there, at which a certain fish-themed hero was sitting outside, looking, Dread knew from their DMs, at funny images of her wife atop the T-Rex skull in the museum.
Yes, certainly, this would be-
“Whoa, hey, it’s you!”
Damnable. Had she been spotted, or..?
No, no, wait. The one speaking, a man also in this alleyway who smelled of cannabis, holding what looked like a GAP bag, was speaking to someone on the opposite side of it, disembarking from a sportbike and handing it to the rider, who was wearing a very ornate-looking golden sword which Dread had sworn she’d seen somewhere before.
“Thanks,” the Black Angel told this young man, accepting the bag and producing its contents - a Roman helmet and black bird-looking tokusatsu cosplay? “Green couldn’t make it himself, huh?”
“I made it,” the guy said, pointing proudly to himself, before blinking. “Oh, you mean like… Showing up. Yeah, no, there was a thing with a mammoth coming down from the mountains, he’s helping East deal with that. Feel like lighting up before you go in? It’ll take the edge off..!”
The rider removed their helmet, coincidentally perfectly timed for the strawberry-blonde with pale blue eyes to stare him down incredulously. “About a million people live on this island, Weedboy. Now is not the time…” The Angel ducked into the nearby building to change, finishing, “shit, yeah, it looks just like the Flying Men do… uh. you should get out of here now.”
“You kidding?” He asked. “I don’t wanna bow out right before it gets good! That’s, like, saying I think you can’t do it!”
Well, these two appeared distracted, so Dread would continue along her way, walking right past them and towards the blockade, towards where Jo was sitting casually, only to be interrupted by-
“Holy shit, it really is her! Stop right there, Dread!”
Oh boy, here we go. This had been happening more lately, since a somewhat frustrating individual went and opened his big mouth about her dangers on Bifrost. Turned out that the head of VALKYRIE was literally in the server, so now she had a bounty on her head after a modicum of investigation into her after that public statement, and her casual admittance thereof!
Two armored guards were pointing guns at her as she stood there, unfazed.
“Don’t come any closer!” One of them, an older woman, said, turning to her younger partner and quickly telling him, “if she approaches, open fire. She’ll eat you alive if not!”
“This again, are you being serious?” Dread was less than pleased. “I am evil, and a murderer, unrepentantly so, yes, but I do not eat people. This rumor is being so blown out of proportion that I find it quite tiresome.”
“F-fuck off and die!” The younger moved to fire his weapon, only to realize there was a knife through him, catching the gun by the trigger after running from his shoulderblade to his fingertip.
Dread didn’t need the help, but like a true friend, Kimijo Kaneko offered it anyway
“Wh-what the-” The older woman cursed as her partner was cut open and dropped. “Fucking useless moron! HEY, EVERYONE, KANEKO BROKE RANK AND DREAD IS HERE TO! NOW’S OUR CHANCE TO-”
The distraction, then, was all it took for Dread to take her first kill of the day. Of course it was fine. She read the news, she knew how these VALKYRIE people were literally at war with poor people.
“Sh-shit, those people just died! More VALKYRIE corpses, and Jo again..!” The stoner declared in the background, and the Black Angel, now dressed exactly like the birdmen many had seen before, paused in her efforts to run past the opening created by Jo breaking formation.
Nobody could hear it or see her lips move, but she apologized under her breath, clenching her fist, but the disguise had worked. 32 Footsteps, the primary guard which would warp away anyone who tried to enter, apparently had instructions to allow in anybody dressed like this, yet none of the intended recipients of this deliberate loophole made their way in.
“Dread, hello, friend!” Jo exclaimed in high spirits, sheathing her knife, but still speaking quietly as she hurried back into place, “good to see you!”
“Yes, it is most certainly fortuitous for us to encounter one another…” Dread agreed, walking and talking with her as the pair were watched in horror. “By any chance, may I come into this museum? I am absolutely curiously intrigued by what is going on within here…”
“Sure!”
A VALKYRIE sniper was taking aim at Dread, then, as she entered, muttering under her breath, “got a shot lined up… I can take her out, and Jo a second later! Two bastards out of the way, at least, and-”
“Wait,” the youth in a blue aviator hat and goggles, speaking as VALKYRIE’s tactician, instructed, “hold your fire.”
“Sir, she just made one of our senior officers fall into rotten pieces! She’s chatting it up with this fish-bitch like it’s nothing!”
“I know, and I’m appalled too, but I think…” The Blue Kid paused, contemplatively. “No, I know it. Dread is here to defeat John Aurel, just like the Black Angel.”
Spinning and pivoting through the air, “Lou” Reed, dressed like a dark, sixth Flying Man, landed atop the skull of the t-rex, which had apparently been adorned in a cute little pirate hat. It made for a fine vantage point, then, to look all over the halls of the Natural History museum, noting one, two, three, four spots, grotesque and morbid statues Remix had apparently erected of ghostly abominations.
She was exhausted, injured from the three-way skirmish she, Metra, and Oh No had been forced to undergo and riding like hell to get here, but she had made it this far, and others had managed to get in too. She couldn’t choke now.
Seven minutes… I’ll just have to destroy those, and be back here in seven minutes. Easy enough… I don’t think I’ve been-
“Green, Orange, and Purple… I don’t believe a ‘Flying Man Black’ was ever mentioned, nor that any of the brothers were into swords.”
Shit. That voice, too… Lou turned around, then, seeing someone standing behind her, a man with long dark hair, brandishing a hammer and looking up at her.
John “Jack” Aurel.
“Even if you are what you appear to be and not in disguise, you should realize that you aren’t welcome here. There’s nothing to be done in this museum worth dying for, and no way to accomplish any more foolish goal if I were to raise attention now. Care to waste some of the time you have left and explain?”
Of course this would happen. Lou removed her faux-beak, helmet, and goggles, staring down at him as her hair billowed in the ceiling fans’ wind. “Jack… I’ve come here to put a stop to this.”
“You’re that kid who’s always running around, huh?” Jack frowned, twirling his hammer. “I hear what you talk about through the grapevine… About how we’re all victims of fate, forced against each other by Gravity. That Stand Users are always going to be molded by this… You understand it too. You understand that people like us prey upon the weak, that it’s in our natures and our place in the world. I want to remove myself from that… Remove these people from that, and atone for what I’ve done.”
“By killing even more people! There’s no way they’ll get everyone away from your blast radius, and you haven’t even given them the chance to!” Lou protested. “It doesn’t have to be this way… Don’t say this is how it has to be! We can save this place, free everyone from gravity, without barreling towards its destruction! I don’t want to kill you, Jack. I want you to stop this crazy, self-indulgent crap and help me do something real!”
“You think everyone deserves this? That Stand Users will simply reform without this? The cycle has started, and it will push to the end even if the wave guiding it fades away completely… Bastards, the lot of us, and I don’t intend to run from what I’ve done. I’ll give you one chance to run away, kid… the worst I can call you is naive.”
Lou drew the golden blade, seeing Jack wince as he clearly recognized its significance, all as her Stand appeared behind her. “We both know I can’t do that, even if I can barely keep my balance up here. And hey, maybe I will die here… Maybe I am fated not to see this through. But then, someone is gonna finish this for me! Your security is already compromised!”
“Fascinating… And you are utterly convinced that, should it work, those he’s slain to commence this ritual to begin with will return outside the city?”
“Remix is full of himself,” Jo said, nodding quietly, “but he and Jack, they researched a lot… Akiko and I, for helping this finish, we can finally go home! Be done with the bad city…”
“She has made this place remarkably impregnable,” Dread agreed, thinking aloud, “anyone who waltzes in waltzes into her backrooms…”
“Unless they have a ‘pass!’” A voice from within Dread’s cloak spoke, and as Jo raised her knife at it in defense, the pure-white, terribly contorted form of Bert tumbled onto the ground, stretching and reshaping into their typical humanlike shape.
“Don’t worry, don’t worry, they are fine, with me!” Dread assured Jo, frankly thankful to have that weight literally off her back. Bert was very light, but even then it was hard to walk carrying someone, let alone not give it away. “We have… Some history, and so I thought I might as well indulge Bert’s request to see this place as well. I apologize for not mentioning earlier, but it was quite dire getting in here past guards attacking us.”
Jo didn’t seem to mind, continuing to lead the pair around, even passing Akiko who was casually, distractedly reading some manga while in a bit of a pirate mood.
They also passed by another scene, slightly more concerning, of an injured old man in a Hawaiian Shirt, close by the frontmost entrance of the place and clutching himself as his fleet of four Stand-starships remaining fired at Remix, who guarded against it with ghost-objects while a Flying Man Red tried to find an opening to strike.
“You’ve been at this for hours, old man, die already! You have no place in the world I mean to birth from your bloodied, pulped remains!”
Pineapples stood, then, leaning against the wall, trying not to show weakness.
“I think that guy is going to lose, at this rate… It’s a shame, too,” Bert, the loudmouth again, remarked. “He might have been a worthwhile pawn in wrestling control away from this operation.”
Dread, Jo, Remix, and Red all gave Bert simultaneous incredulous looks, all in completely unique ways.
Jo drew her knife again, about to transform, only to dodge out of the way of the injured ‘Lou’ Reed, blacked out, helmetless, being knocked away and into the floor, the shock of which made her rise quickly, feeling around. “Where’s the- Shit!” As she sat up, then, feeling around for the saber no longer in her possession, she noticed that she was smack in the middle of something else here.
Hurriedly, she rolled away, standing herself up and looking to the injured Admiral. “You… You’re one of those MFAs, right? How did you-?”
Weakly, he gestured to Remix. “He brought me here in a damned urn! I’ve been fending them off to buy others in the museum time to escape… Everyone in this hall here and Jack, those are the only ones left in the building, minus masses and masses of ghosts. They’re harmless, though… Don’t worry about them attacking unless that guy takes them.”
“I see…” Lou, then, smiled sadly, clutching her bloodied suit. She looked to Bert and Dread, then, moving to get between them and Jack’s incredulous accomplices. “You said you wanted to take him out, right? I overheard…”
“Well, Bert has let yet another cat out of the bag,” Dread admitted, “indeed, I came here with the intent of dethroning Jack Aurel before he had a chance to complete his little ritual. Few others would even be able to get in here.”
“So that’s my role, then…” Lou smiled, then, sighing, ducking out of the way of the Flying Man sending a kick her way, a gauntlet-clad arm emerging from her body, grabbing his ankle hard, and swinging him into the Jo who was shocked to hear Dread say that. “I can’t do anything about Jack… Too fucked up from that ED match…” She grinned, then, mouth bleeding as she stared Remix down. “But this old man and I can at least keep these assholes from interfering!”
Dread, then, watched passively as the five erupted into battle, she and Bert curious about what was to come as, from each hand, the Stand which emerged seemed to fire odd projectiles at their foes. “The ‘I’ll hold them off…’ You’re styling yourself as some sort of exceptional hero, aren’t you?” She seemed amused by that, the irony of their cooperation. “I’m evil, you know… And Bert, at least, is morally ambiguous. But if you’ve settled on putting the city in our hands, have you any advice?”
Over the sounds of laser fire, Lou quickly found time to answer, “yeah, there’s… I brought this golden ‘saber’ with me, and it must’ve fallen somewhere by the T-Rex… In, in a bit over six minutes from now, this ritual of theirs is gonna go through and rip this island open. Before that… They have these ‘failsafe’ statue things, and…” She took a breath, retracting and wincing from a blow her Stand had taken. “Look, I don’t have time to explain it, but you need to smash those up first! They’re there, made up of spirits fused together, to keep these guys safe from the consequences of their own actions… To ensure their safety, and at the same time act as a ‘failsafe’ for the ritual. Gives you the ‘power’ over it, too, in the way that right now Jack himself does… That’s important to stopping it. So you need to smash them first, and then, right as the time passes for the ritual, when the skull of the T-Rex in the center starts to split open and glow and its mouth starts gushing water… Embed the sword into the opening in its forehead, right as it starts to shape. That’s the only way to prevent this at this stage!”
“The forehead particularly, hmm?” Bert asked, pacing curiously and avoiding a cross split attack from Red, who barreled into Lou and was barely blocked. “Why there, per se? Why nowhere else on the thing?”
“Ngh..!” Lou grunted, saved from a follow-up by Pineapples. “I dunno, that’s just where you have to do it!”
“Black Angel… That’s what you’re called, yes?” Dread smiled, turning away. “You will be thanked for this victory… Try to live long enough to witness it firsthand, won’t you?”
“I’d… I’d love to,” Lou answered, smiling sadly, “for five years now, when I first learned there was anything worth a damn in this world, I’ve wanted to protect that… The dark pit of despair that was the first thirteen years of my life, and even so much since, I’d love nothing more than a world where no person is fated beyond impossible odds to suffer that.” She grew serious, then, raising her voice. “Go, now! Leave this to us!”
Bert and Dread approached the T-Rex, impressed at the amazing height and Akiko’s snazzy pirate duds upon the thing, the lab-grown being whistling with impression. “A T-Rex lived ‘til three-hundred years ago… Preserved whole, in this city. It’s astonishing, isn’t it, Emilie ‘Dread’ Delacroix?”
“A curious anomaly,” Dread agreed, examining it from afar, even noticing that alleged sword in the distance. “I wonder why it survived that long, so far after its brethren…”
“It’s because it was a ‘Stand User.’”
Jack approached from the same room in which Dread spotted glints of the golden saber, announcing his presence with that. “That was its ‘fate…’ A savage, cunning animal, ripped from where it belonged. to be a problem to solve and squabble over, to found this city on its literal bones.”
“John ‘Jack’ Aurel… You’d best stand down.” Bert, helpfully, started. “You cannot beat us… Even if we only had seconds to overcome you, I would be too much for you to handle!”
“No, he’s going to fight, I know it.” Dread, meanwhile, prepared Joywave, staring him down with a pointed, grinning lethality. “I suppose introductions are not necessary, with how Bert here loves to say my full name… I am not one to make things curt or brief, John, but consider yourself toppled, usurped, bloodied and dead.”
“The lab accident with a God complex and by far the worst, most grisly of Jo’s friends…” With no real amusement, no happiness in his eyes, Jack chuckled, looking them over. “Of course, right at the end, my final test isn’t some hero… It’s exactly the worst kind of Stand User! The apex predators that I’ve preyed upon, that stand in the way of saving everyone who’s died to reach this point! Of course it would be someone like me to gain entry, wouldn’t it?”
“You speak with such confidence you’ll raise the dead…” Bert was curious. “Even if it costs more lives, such a thing is… That is the realm of gods, John ‘Jack’ Aurel.”
“Not today it’s not,” Jack answered, twirling his hammer in his hand. “Both of you… You’ve been driven here, standing in my way, as agents of ‘fate’ itself. Isn’t that the reason you were ‘lucky’ enough to pass through our defenses… Because you were meant to stand here, and you were meant to watch as every horrible, cruel thing you’ve done amounts to nothing in the face of these circumstances.”
He looks the two intruders over with sympathy for a moment, before steeling himself and clenching his weapon, Stand appearing behind him just as stone-faced. “You may be the puppet of something beyond your control, but you must understand that I can’t let you ruin the plan I’ve bet my life on. I bear you no anger as people, but your role here is something I can’t ignore. I’ll waste our time no longer in arguing ethics, let there be no apologies or restraint until this is settled.”
The other conspirators had been instructed not to intervene if it came to this point, even if it risked the collapse of everything they had worked for. Not if it threatened lives. An enemy to make it this far was deserving of being dealt with reasonably. As the critical moment drew near, Jack readied all the fury that months of waiting had stored within him, and accepted that this may very well be his final true fight.
“Five minutes on the dot now, until ‘that time…’ If what the Black Angel said is true.” Dread looked to Bert. “What do you say we demonstrate incontrovertibly to John exactly how confused he truly is?”
OPEN THE GAME!
(Image credit to CaptainSpooky27!)
Location: A part of the Los Fortuna’s Natural History Museum. The area here is 75 by 75 meters with each tile being 5 by 5 meters. The ceilings here are 8 meters tall. The yellow tiles are the hallways and the green and purple tiles form the different rooms.
The white tiles have ritual shrines built on those areas. There are 7 shrines total and will be explained in further detail in the additional information.
The players start at the south of the map and Jack starts at the top of the map as represented by their tokens. The walls are represented by thicker borders and the dotted lines are the doorways.
At the top of the map, in the pink tile and yellow symbols, is the Golden Sword. It is currently pinned under 2 meters of rubble.
Each wing of the museum houses an exhibit, in the center is the main attraction a large T-Rex in display as denoted by the large grey circle.
The other exhibits are denoted by the letter on them:
  • G: The geologic exhibit, displaying and teaching about different rock formations and types
  • O: The two Oceanic exhibits, displaying the marine life and seabed of Los Fortuna.
  • C: The climatography exhibit, displaying the different temperature maps and features across Los Fortuna.
  • A: The Agricultural exhibit, displaying the various fruits and crops grown around Los Fortuna.
  • T: The two Taxidermy exhibits, displaying a wide range of animals in roped off and glass displays.
  • E:The Entomology exhibit, displaying photos and models of various bugs.
Goal: For the players, desecrate all the shrines and, when time runs out, have at least one of you, living and conscious, at the T-Rex with the golden sword in hand! For Jack, make sure the players don’t stop your ritual before it goes off!
The match will last exactly five minutes, unless of course players are dead before then. It doesn’t end just because players reach the goal.
Additional Information:
The shrines are 2 meter tall marked wood and metal structures, each having an strange carve effigy sitting in the center of them. In order to properly desecrate a shrine the players can do one of a few things, destroy the shrine outright, deface all the carvings made into the shrine, or destroy the effigy hidden within the shrine.
After destroying or defacing a shrine, the ghosts of the dead will begin harassing the players - three ghosts will move towards the player responsible for destroying the shrine (even in a situation where the stands are responsible: the ghosts will target Bert if a Perfect Hair minion destroys a shrine, and same for if anything affected by Joywave does so). These aren't strong, having flat 222 physicals and being partially see-through, but will increase in numbers as more and more shrines are destroyed. Strong enough hits can phase them out of existence, but they'll respawn ten seconds after at the spot that they previously were. They will go directly towards the players and can phase through any walls or objects that may be in their paths (but not out of any attacks), grabbing onto the players and trying to gang up on them once they're close enough to do so, dealing minor damage.
Team Combatant JoJolity
Red Carpet Rennaisance Emilie "Dread" Delacroix "Wow! It's a hand drawn original color illustration!" You’re a cultured woman, and this museum might very well end up being wiped off of the face of the earth quite soon, so you need to make the most of it while you still can! Make sure to visit and appreciate the various exhibits on display here! (Character Specific)
Suburban Regalia Bert "What a terrible person. If I wrote about someone like you, none of my readers would like it." So this man is playing at god, trying to control life, death, and fate themselves? What foolishness! Clearly, only you can do such things, and you do them best! Over the course of the strategy, prove your superiority to this “Jack Aurel“ and take him down a notch! (Character Specific)
??? Jack Aurel "Where the hell did you go?! Come out, you fucker!" It's now or never. This is the culmination of all of your plans, and failing is absolutely not an option here. During the fight, hold nothing back, and make sure to thoroughly defeat your opponents so that no one and nothing will ever stand in your way again!
(Jack sheet plain text version)
Link to the Official Player Spreadsheet
Link to Match Schedule
As always, if you would like to interact with the tournament community and be among the first to get updates for the tournament, please feel free to PM a member of our Judge staff for an invite to our Official Discord Server!
submitted by boredCommentator to StardustCrusaders [link] [comments]

MAME 0.223

MAME 0.223

MAME 0.223 has finally arrived, and what a release it is – there’s definitely something for everyone! Starting with some of the more esoteric additions, Linus Åkesson’s AVR-based hardware chiptune project and Power Ninja Action Challenge demos are now supported. These demos use minimal hardware to generate sound and/or video, relying on precise CPU timings to work. With this release, every hand-held LCD game from Nintendo’s Game & Watch and related lines is supported in MAME, with Donkey Kong Hockey bringing up the rear. Also of note is the Bassmate Computer fishing aid, made by Nintendo and marketed by Telko and other companies, which is clearly based on the dual-screen Game & Watch design. The steady stream of TV games hasn’t stopped, with a number of French releases from Conny/VideoJet among this month’s batch.
For the first time ever, games running on the Barcrest MPU4 video system are emulated well enough to be playable. Titles that are now working include several games based on the popular British TV game show The Crystal Maze, Adders and Ladders, The Mating Game, and Prize Tetris. In a clear win for MAME’s modular architecture, the breakthrough came through the discovery of a significant flaw in our Motorola MC6840 Programmable Timer Module emulation that was causing issues for the Fairlight CMI IIx synthesiser. In the same manner, the Busicom 141-PF desk calculator is now working, thanks to improvements made to Intel 4004 CPU emulation that came out of emulating the INTELLEC 4 development system and the prototype 4004-based controller board for Flicker pinball. The Busicom 141-PF is historically significant, being the first application of Intel’s first microprocessor.
Fans of classic vector arcade games are in for a treat this month. Former project coordinator Aaron Giles has contributed netlist-based sound emulation for thirteen Cinematronics vector games: Space War, Barrier, Star Hawk, Speed Freak, Star Castle, War of the Worlds, Sundance, Tail Gunner, Rip Off, Armor Attack, Warrior, Solar Quest and Boxing Bugs. This resolves long-standing issues with the previous simulation based on playing recorded samples. Colin Howell has also refined the sound emulation for Midway’s 280-ZZZAP and Gun Fight.
V.Smile joystick inputs are now working for all dumped cartridges, and with fixes for ROM bank selection the V.Smile Motion software is also usable. The accelerometer-based V.Smile Motion controller is not emulated, but the software can all be used with the standard V.Smile joystick controller. Another pair of systems with inputs that now work is the original Macintosh (128K/512K/512Ke) and Macintosh Plus. These systems’ keyboards are now fully emulated, including the separate numeric keypad available for the original Macintosh, the Macintosh Plus keyboard with integrated numeric keypad, and a few European ISO layout keyboards for the original Macintosh. There are still some emulation issues, but you can play Beyond Dark Castle with MAME’s Macintosh Plus emulation again.
In other home computer emulation news, MAME’s SAM Coupé driver now supports a number of peripherals that connect to the rear expansion port, a software list containing IRIX hard disk installations for SGI MIPS workstations has been added, and tape loading now works for the Specialist system (a DIY computer designed in the USSR).
Of course, there’s far more to enjoy, and you can read all about it in the whatsnew.txt file, or get the source and 64-bit Windows binary packages from the download page. (For brevity, promoted V.Smile software list entries and new Barcrest MPU4 clones made up from existing dumps have been omitted here.)

MAME Testers Bugs Fixed

New working machines

New working clones

Machines promoted to working

Clones promoted to working

New machines marked as NOT_WORKING

New clones marked as NOT_WORKING

New working software list additions

Software list items promoted to working

New NOT_WORKING software list additions

Merged pull requests

submitted by cuavas to emulation [link] [comments]

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