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Results just out. And they are ugly as

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cartonet   Wednesday, 06/01/16 01:02:04 AM
Re: Randy1111 post# 269
Post # of 317 
Results just out. And they are ugly as f•••

Going concern Golden Leaf has been incurring operating losses and cash flow deficits since its inception, as it attempts to create an infrastructure to capitalize on the opportunity for value creation that is emerging from the gradual relaxing of prohibitions in the United States on the cannabis industry. The Company’s revenues have not yet been able to rise to levels materially capable of covering the costs related to the infrastructure investment (both capital and operating). As such, the Company has been depleting its invested capital as it simultaneously navigates regulatory evolution and uncertainty, awaits the imminent changes in the Oregon marketplace and other jurisdictions that will fuel market expansion, and continues to make necessary investments. As of December 31, 2015 the Company’s cash balances were $263,695. Despite raising funds in Q1 and Q2 2016, the Company’s burn rate, including certain earmarked uses such as tax payments and the acquisition costs for BMF Washington in addition to unanticipated regulatory delays and disruption to the Company’s core business, there continues to be a need to raise more capital


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