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Yep, Hunch, looking good... a great wee investment here....
yes, Mike, you are correct.... running good (up 9% todate) for '23.... hopes you make money with this fab company...
OGI Thanks John1311, great info.
This is a very positive report. Hopefully investors will take notice, making 2023 a great year!
OGI Revenue beats by $13.45M.
Organigram reports Q4 results; issues FY23 soft guidance
Nov. 29, 2022 OrganiGram Holdings Inc. (OGI),
Organigram press release (NASDAQ:OGI):
Q4 net loss was $6.1M, compared to a net loss of $26.0M in Q4 Fiscal 2021.
Adjusted EBITDA of $3.2M, the third consecutive quarter of positive Adjusted EBITDA, compared to negative Adjusted EBITDA of $4.8M in the same prior year period.
Adjusted Gross Margin of $10.4M or 23%, compared to $3.0M or 12% in the same prior year period, reflecting improvements from increased efficiencies and higher sales volume.
Revenue of $45.5M (+82.7% Y/Y) beats by $13.45M.
Outlook: Organigram currently expects Fiscal 2023 revenue to be higher than that of Fiscal 2022.
The company expects to see an improvement in adjusted gross margins in Fiscal 2023 and has put measures in place that it expects will further improve margins over time.
The company expects significant growth in Adjusted EBITDA in Fiscal 2023 over Fiscal 2022.
The company expects to have positive cash flows from operating activities during Fiscal 2023 and positive free cash flows during calendar 2023.
https://seekingalpha.com/news/3911764-organigram-reports-q4-results-issues-fy23-soft-guidance?mailingid=29829239&messageid=2900&serial=29829239.64&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29829239.64
Nice spike into the close
Hey check it out. Our picks have a mutual investor in BAT(NYSE:BTI)...
"CBD maker Charlotte’s Web lands $56.8M investment from tobacco giant":
November 15, 2022
Things are warming up and OGI always shines!... Thank you Darth Yoda!
#684 for you. Missed your msg before. Thx for Thx. Cannabis sector getting exciting.
Sounds promising thanks
Thanks, John! Yes, very good news. OGI
More good news...
Senate Majority Leader Chuck Schumer on Sunday said that the Senate is very close to agreeing on legislation that would allow cannabis businesses access to the US banking system based on discussions with some Republican senators.
"I am working in a bipartisan way with Democrats and Republicans to take the SAFE Banking Act, which allows financial institutions to involve themselves in cannabis companies and lend money to them—but it also does some things for justice, such as expunging a record," Schumer said Sunday evening in a televised debated with Republican challenger Joe Pinion.
The legislation that Schumer is talking about is similar to the SAFE Banking Plus legislation that has been floated around. It includes both banking reform and marijuana conviction expungements.
However, this legislation is unlikely to include language related to federal marijuana legalization, according to Marijuana Moment.
https://seekingalpha.com/news/3897904-schumer-says-getting-very-close-to-passing-marijuana-banking-bill-in-senate?mailingid=29546610&messageid=2900&serial=29546610.14563&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29546610.14563
OrganiGram Holdings Inc. (NASDAQ:OGI) is expected to deliver revenue generation and free cash flow growth. Management announced that new products will be announced in the rest of 2022. Besides, with cash in hand, I would be expecting that more M&A activity would enhance revenue, and bring economies of scale. Even considering risks from further regulatory pressure around the cannabis industry and inflationary pressures, I believe that the current stock is considerably undervalued....
https://seekingalpha.com/article/4550830-organigram-undervalued-and-with-new-brands-in-the-pipeline?mailingid=29535899&messageid=2800&serial=29535899.1633&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=29535899.1633
thanks, Hunch.... and now for more good news....
OrganiGram Holdings: Undervalued And With New Brands In The Pipeline
Summary
OrganiGram is a medical cannabis provider as well as a seller of cannabis to adult recreational consumers.
Expectations from analysts are quite beneficial.
According to analysts, net sales growth in 2022 would reach 80%, 33% in 2023, and 28% in 2024.
In my view, OrganiGram has a significant amount of expertise in the M&A markets. Future transactions may help the company maintain its revenue growth.
https://seekingalpha.com/article/4550830-organigram-undervalued-and-with-new-brands-in-the-pipeline?mailingid=29535899&messageid=2800&serial=29535899.1633&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=29535899.1633
Enjoy...you guys get a nice mention...
"Bruce Linton Bullish on Cannabis":
Oct 16, 2022
OGI HIGHLIGHTS FROM THE PREVIOUS QUARTER...
July 14th, 2022
Organigram Reports Third Quarter Fiscal 2022 Results
Achieves fourth consecutive quarter of record net revenue and continues growth as a leading Canadian LP in recreational adult use market share
HIGHLIGHTS
Achieved gross revenue of $55.2 million, up 90% from the same prior-year period and 26% higher than Q2 Fiscal 2022
Continued record growth in net revenue, reaching $38.1 million, the highest in the history of the Company, up 88% from $20.3 million in the same prior-year period and 20% from $31.8 million in Q2 Fiscal 2022
In Q3 Fiscal 2022, achieved #3 position among Canadian licensed producers with 7.8% market share. In June 2022 the Company had 8.5% share of recreational adult use market 1
Continues to hold #1 position in dried flower, the largest category of the Canadian cannabis market and the #3 market position nationally in gummies1
Introduced 16 new SKUs for a total of 85 SKUs in market
Increased market presence of successful SHRED brand with the introduction of SHRED-X vapes, SHRED-X kief-infused blends and SHRED'ems POP!, gummies in the classic pop flavours of cola, root beer and cream soda
Expanded distribution of Tremblant hash to all 10 provinces
Added to the Monjour wellness brand with the launch of CBN Bedtime Blueberry Lemon, a sugar-free gummy that contains the cannabinoid CBN, along with CBD and THC
Shipped approximately $1.3 million of high margin flower to Australia and, subsequent to quarter end, shipped approximately $5.4 million to Australia and Israel
TORONTO--(BUSINESS WIRE)-- Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer of cannabis, announced its results for the third quarter ended May 31, 2022 (“Q3 Fiscal 2022”).
“We are pleased to see continued strength in our recreational business with our increasing market share. We achieved record net revenue results which we expect to surpass again in Q4 on the strength of new product listings, increased retail sales momentum and international shipments,” said Beena Goldenberg, Chief Executive Officer. “We have built an enduring brand with SHRED that has proven to attract consumers across multiple product categories. This market strength is bolstered by introducing new SKUs in the derivative space, including Edison JOLTS, which are now available in three flavours, Edison live resin vapes, Tremblant hash, and Monjour soft chews in the wellness segment."
FOR MORE INFORMATION: https://investors.organigram.ca/press-releases/organigram-reports-third-quarter-fiscal-2022-results
Yup buy when there is blood in the streets
That's the goal OGI
In it to win it
OGI Yes, win-win for everyone!
thanks, Hunch, that's good news for veterans and OGIers....
welcome back, Man... hopes you are feeling greater.... you always had intelligent information to supply inquiring investors... many thanks...
"Ottawa on track to spend $200M per year... on cannabis for veterans" https://vancouver.citynews.ca/2022/08/07/ottawa-spend-200m-year-cannabis-veterans/
NEW BRUNSWICK MANDATES LICENSES AFTER VIOLATIONS BY ORGANIGRAM
BONNOJULY 19, 2022
CANNABIS CANADAFEATUREDLAWMARIJUANA NEWSPOLITICSSCIENCE0COMMENTS62019VIEWS
Poor cultivation practices led to the mandatory testing of cannabis during Canada’s medical era. More than one cultivator was at fault for incidents involving banned pesticides, though. And in 2019, one of the guilty producers led to more mandatory tests and new licenses after a different violation.
Mandatory tests for license holders
A report on the issue discussed new testing policies designed to mitigate and prevent more major contamination events. Beyond testing facilities, a new license system launches next month. Rather than pesticides, Organigram operated cooling towers without an adequate cleaning system. Bacteria built up inside the system and blew across Moncton, New Brunswick. An outcry ensued over the lack of mandatory rules after the incident since more than a dozen individuals fell seriously ill.
Tests are one step toward containing future outbreaks. But Bill 91 includes a guideline for the new registry of cooling tower licenses after Organigram’s violation. And according to a press release by New Brunswick’s Ministry of Health, licenses to operate cooling towers will be mandatory beginning August 1, 2022. But the annual $450 fee was waived until March 31, 2023
Dorothy Shephard mandated a cooling tower license in response to Organigram's violation that caused a Legionairre's outbreak.
Swapping ministers
Bill 91 governs the new license system for cooling towers, proposed by former Minister of Health — Dorothy Shephard. But shortly after the bill passed, Shephard was swapped with the Minister of Social Development, Bruce Fitch. The reason for this, though, was an unfortunate death in a waiting room in a hospital’s emergency ward.
Earlier on June 30, however, Premier Higgins announced New Brunswick’s new Deputy Health Minister. And shortly after the law passed, Organigram settled an older class action suit.
OGI Bounce time
ORGANIGRAM SETTLES CLASS ACTION LAWSUIT AFTER PATIENTS ALLEGE PESTICIDE POISONING
Bonno, 01,07,2022
Canada established a formal medical cannabis program at the end of 2013. Health Canada eventually mandated tests following incidents with banned pesticides. Despite this, an incident occurred in 2016 involving unauthorized sprays used on cannabis produced by Organigram. Several patients reported illnesses after using OGI’s tainted product. This led to class action lawsuit against Organigram approved by the Nova Scotia Supreme Court in 2019. This month, in the middle of 2022, Organigram agreed to settle the lawsuit with refunds and legal fees.
Pesticides and lawsuits
Third party tests revealed that cannabis produced by the New Brunswick cultivator contained:
Bifenazate
Malathion
Myclobutanil
Several lots of cannabis were subject to type two and three recalls in 2016 and at the beginning of 2017. The recall was due to potential contamination with unauthorized sprays. As such, patients who purchased cannabis covered by a voluntary or involuntary recall before February 14, 2019, are considered class members. And class members will receive refunds as part of the $2.3M CAD settlement.
A timeline documenting the class action lawsuit against Organigram was included in a news release by Wagners, the firm that filed the proposed class action. Whereas, Organigram published a separate news release on their website further documenting the settlement.
Organigram class action lawsuit
Refunds without personal injury
Dawn Rae Downton, the representative plaintiff, argued personal injury. The Supreme Court of Canada, however, refused to acknowledge an adverse health event. To accommodate this, Wagners amended their pleadings to remove any claims of personal injury. The Plaintiffs filed the final amendment on January 18, 2022. Yet, Wagners did not announce the update until April 25, 2022.
Following the amendment, the $2.3M settlement accounts for:
Refunds
Legal fees
Administrative costs.
Patients have been forced to remain content, even after alleging they were poisoned by Organigram’s tainted pot. The Licensed Producer admitted to their wrongdoing. But are refunds enough action for the class members?
Rubbing Organigram under the Health Minister’s skin
Organigram earned a repertoire for poisoning the populous, and not just patients. And the incident with myclobutanil-laced medical marijuana adds to their resume. The company began producing cannabinoids in a new section of their facility, whether from plants or yeast. In any case, cooling fans became clogged with infectious bacteria. The company allowed Legionella, a bacteria that can travel several kilometres in the air, to pool in a new cooling tower.
Organigram caused sixteen cases of Legionnaire’s Disease in 2019. And fourteen separate cases against the company dropped on the same day in December of 2021. The news remained silent on Organigram’s wrongdoings for three more months, though. In March and June of this year, the Minister of Health of the Province of New Brunswick responded to this author’s respective email requests. But the second correspondence simply questioned the impact of the first, which focused on Organigram.
A bill that imposes mandatory testing on cooling towers in the province was proposed eight days after Shephard first responded to this author. And two days after the Minister’s second response, a freedom of Information request previously withheld from CBC was released to the state-owned news agency. The request released on June 5 covers two outbreaks of Legionnaire’s Disease in the region. Further documented in the newly released information — first requested by CBC in August last year — was a lack of proper procedure on behalf of Organigram.
OGI Thanks Bonno, good to know.
June 24, 2022Bonno
Cannabis News
New Brunswick’s Organigram announced today that they have reached a settlement in the 2016 class action lawsuit following pesticide-related product recalls.
The Supreme Court of Nova Scotia has approved the notice of settlement, which was sent to class action members on June 24. The Court will hold a hearing to consider whether to approve the Settlement on August 31.
The law firm handling the case, Wagners Law Firm, has also released similar information and updates on their website.
If approved, the settlement will be used to provide Class Members a refund of the amounts paid to purchase the voluntarily recalled product, minus any refunds they have already received, as well as the payment of legal fees. Organigram has also agreed to pay the third-party claims administration costs.
As part of the Settlement, Organigram says it has agreed to pay an aggregate of $2,310,000.
In 2020, the Canadian Supreme Court declined to hear an appeal of a Nova Scotia court ruling dealing with a claim against Organigram for using unauthorized pesticides.
The appeal sought to overturn a ruling in a previous appeal heard in the Nova Scotia Court of Appeal that said that public injury claims made against Organigram Inc by patients who consumed their cannabis products cannot be established.
The original case filed in early 2018 came after a class action suit which consisted of a group of people who had been using the medical cannabis producer’s products. The patient and plaintiff argued they had experienced negative health effects after consuming cannabis from the producer which had been found to have been using an unapproved pest control product, myclobutanil.
The judge in Nova Scotia’s Court of Appeal’s case agreed with Organigram that there was little evidence of, or methodology, to prove the health claims made could be connected to their cannabis products. The patient sought to overturn that ruling in the Canadian Supreme Court but was not successful.
The judge agreed and dismissed this aspect of the class action. The associated reimbursement payments that are also part of the class action suit were allowed to remain and made up the current settlement agreement.
Organigram in the past has said they will continue to challenge these as they have already provided refunds.
“Organigram will continue to defend what remains of the Class Action as it has already voluntarily reimbursed many of its customers for this recall via a comprehensive credit and refund program”
Organigram’s unauthorized use of myclobutanil and/or bifenazate triggered public recalls for the cannabis producer in 2016 after testing by a third-party lab discovered evidence of unauthorized pesticides. In addition to the product not being allowed for cannabis production in Canada, Organigram was also certified as organic by Ecocert, a third-party organic certifier, who also disallowed those products. After initially losing their certification from Ecocert, they received it again in 2018.
Following the recalls, a class action suit was initiated by patients who said they had experienced negative health issues related to using their cannabis which potentially contained trace amounts of bifenazate and/or myclobutanil.
The burden of proving this array of negative health effects was a tough case to make, which helped guide the judge’s most recent decision, stating that the adverse health claims were “too generic”.
The court also noted that the generic testing described by the plaintiff’s doctor did not meet the “workable methodology” requirement of the law.
Among one of the concerns raised by the plaintiff was the fact that when combusted myclobutanil releases hydrogen cyanide, which is a cancer causing agent with numerous negative health concerns.
The plaintiff had argued that the symptoms she had experienced “coincided” with those associated with exposure to hydrogen cyanide, including lightheadedness and gastrointestinal symptoms.
In support of its decision, the court noted research that showed that cannabis itself also releases hydrogen cyanide, and in far greater amounts than would be attributed to any myclobutanil on the cannabis the patients in question consumed. The court document shows the judge stating “The amount of hydrogen cyanide produced by myclobutanil is obviously infinitesimal compared to the amount produced by smoking cannabis in the ordinary way.”
The recalls associated with the product noted that the levels of myclobutanil found on the cannabis products were incredibly low, up to 20 parts per million (ppm), potentially because the pesticide was applied at a very early stage in the plant’s growth, not in the flowering stage.
For reference, one ppm is one part in one million. One ppm is comparable to one second in 11.5 days or four drops of ink in one 55-gallon barrel of water.
What's Going On W/ OGI on Earnings Front?
been a while since looking at OGI
Slowly but sure
OGI $$$$
Very nice Hunch !
Thank you !
OGI OrganiGram Adult Recreational https://www.organigram.ca/brands#adult-recreational
.
This gets any cheaper, you won't have to spend a penny for any of it and be able to buy an infinite amount LOL
Hello Hunch , I am with you again in OGI today my friend !
GLTU ! GLTA !
No , thank you very much Hunch !
Need to sell some other stocks LOL !
OGI $$$$
Did you see this? https://www.organigram.ca/international#canndoc
Canndoc Logo
In June 2020, Organigram entered into a multi-year agreement to supply dried flowers to one of Israel’s largest and most established medical cannabis producers, Canndoc Ltd. (“Canndoc”), a subsidiary of InterCure Ltd. (TASE: INCR/INCR.TA).
Canndoc has been a pioneer in pharmaceutical-grade cannabis for more than 12 years. Its GMP-approved medical cannabis products are sold in pharmacies in Israel, and it holds international cultivation and distribution agreements in the European Union and Canada.
Under the terms of Organigram’s supply agreement with Canndoc (the “Agreement”), the Company will provide a guaranteed 3,000 kg of high quality, indoor-grown dried flower product to Canndoc by December 31, 2021, for processing and distribution into the Israeli medical market, and may provide an additional 3,000 kg during the same time period at Canndoc’s option, subject to certain conditions. The agreement provides for a tiered pricing scheme and the exact value will vary depending on factors such as potency and product mix. The Agreement also contemplates, among other things, an opportunity for Organigram to launch branded medical products with Canndoc in the Israeli and EU markets, and grants exclusivity and related rights to Canndoc within the Israel market for a period of approximately 7.5 years. Activities under the Agreement are subject to compliance with all applicable laws, including receipt of all requisite approvals from Health Canada, the Israeli Ministry of Health, and any other applicable regulatory authorities.
Mann! I bought some of these cheapies. I have never seen a year where OGI doesn't move up considerably. OrganiGram is Medical Marijuana and not some trend or fad company.
Great to see you, Mann!
I am watching it closely Hunch
Thanks, Hunch...
Lovely to wake up to some good news in this troubled world:
Canadian cannabis company Organigram Holdings (NASDAQ:OGI) saw its fiscal Q1 2022 net loss narrow 94% year-over-year thanks to a 117% increase in net revenue.
Shares are up 10%.
In fiscal Q1 2021, net loss was ~$66.4M. In FQ1 2022, that dropped to a loss of ~$4M.
Net revenue in FQ1 was ~31.8M.
The company also noted that it achieved an 8.2% market share in February, making it the No. 3 among Canadian licensed producers.
Organigram (OGI) ended FQ1 (ended Feb. 28, 2022) with $150.7M in cash.
OGI Achieved gross revenue of $43.9 million, up 128%...... from the same prior-year period and consistent with Q1 Fiscal 2022, despite the impact of seasonality
https://investors.organigram.ca/press-releases/organigram-reports-second-quarter-fiscal-2022-results
You're right, John, "GREEN Days ahead"
Thanks bud, it looks like the street liked the earning report as well
Wow , very nice Hunch
Will buy some again !
OGI $$$$
$OGI Organigram Reports Second Quarter Fiscal 2022 Results
Achieves positive Adjusted EBITDA two quarters earlier than expected driven by record high net revenue for the Company of $31.8 million and a top 3 national market share position among Canadian LPs.
https://investors.organigram.ca/press-releases/organigram-reports-second-quarter-fiscal-2022-results
Very nice Hunch !
Thank you , I have it on my radar all the time and it‘s a good time to buy some again
GLTU ! GLTA !
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