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When are these guys going to get current with Financials? It's been five weeks since the CTO application. Seems to me that is plenty of time to get the new accounting firm up to speed and get financials put together.
The entire sector isn't much fun to be in right now and not filing in a timely manner isn't helping our cause one bit.
Trying to sneak-in and load-up before earnings. Fingers crossed.
Just bought in today. I really like what I see.
Okay.....................I'm pretty much done with my acquisition of shares of $YOURF. Now I'm going to swing around and start grabbing shares of $SHWZ. Started buying in today. I like what I see. Appreciate the tip.
Interesting. I'll give them a look.
It's an interesting company indeed. Profitability in this sector is almost unheard of. They very much remind me of Next Green Wave in that regard, growing incredibly quality product and fiscally responsible. So far, I like what I see.
I wouldn't say I have a "boat load", but maybe water-ski load. Grabbed a bit more today but not many sellers were willing to dip down to my offer.
I jumped-in yesterday myself. Quality product, incredible Board of Directors and they are profitable! What's not to like?
Yup. T. D. Ameritrade is still showing the NXGWF shares there. But eventually it will show all the PLNHF shares and no NXGWF. May take a few days but it will happen.
NEWS!!!!
Trading of shares of NXGWF (NGW) have been halted at the request of the company pending news release.
Hmmmmmmm.
I believe that the meeting is scheduled for today, February 25th.
No. My brokerage emailed me on both accounts which hold NXGWF.
Got my notice on the vote from my brokerage account this morning. Official vote date is February 22nd although you can vote now.
Coming in as a long time NGW shareholder, I feel as though the purchase price struck was much, much less than the company actually warrants. Next Green Wave is insanely profitable.........something which is rare indeed in this sector. They have earned an incredibly loyal customer base and for good reason. They produce the finest cannabis products available at any price.........in this is consistently verified by third party testing. But I realize this is not uncommon for anyone holding shares of a company which is being acquired.
There are a lot of things I loke about the deal however. I see it as a truly symbiotic acquisition where each company is helping the other.
Just wondering what others feel, especially those from the other side of the equation.
Nice move today for PLNHF. Us NGW shareholders need the price of P13 to be between $3.00 and $3.25 by the time the acquisition takes place. That gives us the greatest bang for the buck. Looking good.
NGW Shareholder vote coming next month. The combined assets, and certainly NGW's insane profit margin will bode well for PLNHF going forward.
Can Gavin Newsom fix California's Cannabis Problem?
https://www.msn.com/en-us/news/us/gavin-newsom-was-the-face-of-legal-cannabis-in-california-can-he-fix-its-problems/ar-AATk8U9?ocid=hplocalnews
Can Gavin Newsom fix California's Cannabis Problems?
https://www.msn.com/en-us/news/us/gavin-newsom-was-the-face-of-legal-cannabis-in-california-can-he-fix-its-problems/ar-AATk8U9?ocid=hplocalnews
Best scenario for NGW shareholders is for P13 to be between $3.00 and $3.25 when the acquisition takes place. That range gives us the most bang for our buck.
I expect something this week.
If you purchase NXGWF today, it will automatically convert to P13 stock come the acquisition, plus you will benefit from the premium being paid. That equals more shares ultimately than would be the case if you purchased P13 straight out.
Does Cannabis prevent Covid-19 infection? New research suggests that it just might.
https://www.msn.com/en-us/health/medical/cannabis-and-covid-cannabinoid-acids-found-in-hemp-can-prevent-and-treat-coronavirus-infection-new-research-suggests/ar-AASI2hZ?ocid=msedgdhp&pc=U531
Great find, Pete. Thanks for posting.
No. One is a share price, the other is a ratio. The only variable is what the P13 share price is on the day the deal is inked. For NGW share holders, we need the P13 price to remain low……..between $3.00 and $3.25 USD. That gives us the biggest bang for our shares.
Yes. It is an all stock deal which of course means that P13 will be issuing new shares in order to make the deal. One way to look at it however is that while on one hand there is dilution in the form of new shares, on the other side of the ledger there is now a hugely profitable cannabis grow facility and real estate in their hip pocket.
If P13 were issuing shares solely to fund ongoing operations (like ACB has done repeatedly) it would be one thing. But think of it more as taking out a loan in order to buy a house. They are acquiring real, hard assets in exchange for the shares.
Based upon the current share price of P13 at the time of the merger, your calculations are correct Bridgette.
SEDI is showing that Curtis Floyd just acquired another 186,277 shares today. Apparently he’s got faith in the company and the merger. Buying NGW shares at these levels, before the buy-out is a no brainer.
I agree with billyt Bridgette. It would require approximately 63 million “No” votes in order to nix the deal. I don’t see that happening but who knows? I’ve been wrong before.
Every single share gets one vote.
Bridget:
It is an all-stock deal. P13 has $70 million in cash but the purchase will be an all-stock deal.
My thoughts db are this:
I've spent the last 24 hours trying to digest the proposed buy-out. Frankly, to some degree, I am still on the fence about certain aspects of it. But what I do know is this.
1. Selling now makes absolutely no sense at all. Why would anybody sell at anything below the buy-out price?
2. Planet 13 and NGW appear to have very common goals and it appears to be symbiotic relationship. Together they will attain their common goals much quicker than either could individually.
3. The past year has been brutal on the entire sector. Every single company in the sector has had their legs cut out from underneath them. I believe this will change eventually. Like ANY sector, those who are profitable will eventually rise to the top. Those who are not will die. That's a cold - hard fact of life. NGW is insanely profitable. Planet 13 is not, but neither are they losing huge sums of money. The acquisition of NGW will get them to profitability sooner than would be the case otherwise.
4. Consolidation in the sector is inevitable. I liken it to the automobile industry of the 1920's and 30's. At that time there were just way too many manufacturers all competing for market share. Within a twenty year period, that number had been reduced to the big three here in the USA. It was good for the industry.
Do I think they buy-out price is fair? It doesn't much matter does it? Of course I had hoped for a more favorable number but that's always the case. It's a moot point unless shareholders nix the deal come February.
To me, there is no doubt that the new combined companies will be much stronger together. P13 desperately needs a bigger footprint in California. NGW needed the retail outlets. So, instantly we will have an impact and be in a position which would have taken us many years to attain on our own.
There's always things about any deal that each side wishes were different. Right now, P13 shareholders are lamenting the dilution of shares. NGW shareholders are saying the deal was too cheap for our side.
A year from now, with favorable market sentiment and with the mutually beneficial impact from the merger, P13 could be a $10.00 stock.
What am I doing? I am sitting tight. The deal doesn't contain everything I would have hoped for, but I think there's way more good than bad............for both sides. Isn't that the very definition of a win - win deal?
As usual.........well said, Harpo.
Frankly, the current PPS is just dust in the air. It has zero reflection on the health of the company. Yes, it's painful to see us giving up the hard-fought gains but the company has never been better positioned to leap-frog all others once the sector turns.
Cash is King
Debt kills
Sales are crucial
Quality is paramount
Here's to a phenomenal 2022
And in the six months before that, the price tripled. What’s your point?
I agree billyt. I wish more investors truly understood that for EVERY Buy, there is a corresponding Sell. For every Sell, there is a corresponding Buy. It's hard to make any sense of it unless it's significantly and consistently at the ask of the offer.
I don’t think that was the assertion at all Craig. I think the conversation was that sometimes dying companies buy thriving ones, ones which are making insane profits, just to shore up their own balance sheet.
NGW is thriving indeed. The stock price? Not so much. But that will change as soon as the sentiment for the sector changes.
It’s a rock solid company and my guess is that there have been abundant buy-out offers, all of which have been turned down.
Not only would it be a “Bold Statement” it would also be blatantly false. Making such false statements publicly would be actionable by the company. That’s why they never come out and say it. NGW runs a clean, transparent company and as you pointed out, their year end financials are audited by a first rate accounting firm.
The cannabis sector has been suffering from a lengthy sell-off as investors get cold feet. That will change however. The pendulum always swings too far, in BOTH directions. Once the sector starts to recover, none will be better positioned to profit from the recovery than NGW. Spotless balance sheets, incredibly profitable, enormous growth underway, finest quality available anywhere at any price point and debt free.
Liking it more every single day.
Looks like you got your wish, Pete.
Next Green Wave Exceeds Projections, Releases Q3 2021 FS
Vancouver, B.C. — November 30, 2021 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", “NGW” or the "Company"), a premium seed-to-shelf craft cannabis producer, is pleased to announce the following financial update:
Release of Q3 2021 Results
The Company has exceeded both its Q3 2021 Adjusted EBITDA* projection and Q3 2021 Facility Revenue Projection (originally announced HERE).
The Company has released its financial statements for the three and nine-month periods ended September 30, 2021, which can now be found on SEDAR.
Q3 2021 highlights are as follows:
• In September 2021, the Company extinguished all of its remaining debt, and as a result, has approximately US$6.6 Million in Cash and Accounts Receivable, while only having approximately US$730K in total liabilities as at September 30, 2021.
• Improved Q3 2021 results over Q2 2021 from the Company’s Facility are as follows:
o Facility Revenue in Q3 2021 was US$4,000,363, compared with US$3,047,287 in Q2 2021, a quarter over quarter increase of over 31%.
o Facility Adjusted EBITDA margin in Q3 2021 was 44%, compared with 30% in Q2 2021, a quarter over quarter increase of over 46%.
In the below table, the Company has provided Revenue and Adjusted EBITDA* for the last four quarters.
In Q3 2021, the Company continued its new distribution revenue source (“Distro Revenue”), which involves buying and selling third party flower. As the margins on Distribution Revenue are lower than Facility Revenue, the Company has chosen to provide separately, revenue and costs relating to both Distro Revenue and Facility Revenue.
The three tables below break out the following by quarter:
• Total (Facility + Distro) Revenue, Costs and Adjusted EBITDA*
• Facility Revenue, Costs and Adjusted EBITDA*
• Distro Revenue, Costs and Adjusted EBITDA*
“Our Q3 performance confirms the adjustments we made earlier this year were well considered and on target. By refocusing our brand toward only high margin products and increasing operational efficiency, we’ve stabilized top line revenue and once again achieved top of the industry EBITDA margins. Furthermore, improvements in genetics and SOP’s have increased flower yields by 15% year over year, minimizing the potential impact of our exposure to the volatile pricing of the bulk flower market. This is just the beginning!”
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
About Next Green Wave
Next Green Wave is an integrated premium seed-to-shelf craft cannabis producer offering products through its in-house brand portfolio and wholesale flower for other large cannabis manufacturers. The Company owns and operates a 35,000 sq. ft. indoor facility in Coalinga, CA, which is home to our nursery, cultivation, distribution, and future packaging business. Marketing, product design, and formulation are produced in-house; please follow along at www.nextgreenwave.com or on Twitter, Instagram, or LinkedIn.
For more information regarding Next Green Wave, please contact:
Matthew Jewell
CFO
Tel: +1 (604) 684-6844
IR@nextgreenwave.com
Neither Canadian Securities Exchange (the “CSE”) nor its Regulation Services Providers (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
*All financial information is provided in U.S. dollars and is unaudited and is subject to change. Any preliminary unaudited long-term financial projections provided herein have not been prepared in accordance with IFRS. Management uses non-IFRS financial measures, in addition to IFRS financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate the Company’s financial performance. One example of a non-IFRS financial measure is Adjusted EBITDA, which has limitations as an analytical tool as it excludes from net income as reported, interest, tax, depreciation, other income and expenses, non-cash grow costs expensed for biological assets and unsold inventory, ?and the non-cash fair value effects of accounting for biological assets and inventories. Management believes that these non-IFRS financial measures reflect the Company’s ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as they facilitate comparing financial results across accounting periods and to those of peer companies. Management also believes that these non-IFRS financial measures enable investors to evaluate the Company’s operating results and future prospects in the same manner as management. These non-IFRS financial measures may also exclude expenses and gains that may be unusual in nature, non-cash, infrequent or not reflective of the Company’s ongoing operating results. As there are no standardized methods of calculating these non-IFRS measures, the Company’s methods may differ from those used by others, and accordingly, the use of these measures may not be directly comparable to similarly titled measures used by others. Accordingly, Non-IFRS financial measures should not be considered superior to, as a substitute for or as an alternative to, and should only be considered in conjunction with IFRS financial Measures.
Next Green Wave Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements” and such forward-looking statements and forward-looking information represent only NGW’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of NGW’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts" "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the Company’s expectations for long-term (YE 2021, YE 2022 and YE 2023) revenue and adjusted EBITDA profitability, the ability of the Company to successfully achieve business objectives (including completion of construction and increasing production capacity), and expectations for other economic, business, and/or competitive factors. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NGW’s current beliefs and is based on information currently available to NGW and on assumptions NGW believes are reasonable.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking information. Such risks, uncertainties and other factors include, among others: dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of its proposed facilities in a timely manner; engaging in activities which currently are illegal under US federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; NGW’s limited operating history and lack of historical profits; reliance on management; NGW’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability, competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and risks and delays resulting from the COVID-19 pandemic. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although NGW has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. NGW has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
All this in spite of a horrific 2nd Quarter. It speaks volumes about the direction the company is headed.
Glen Harder just purchased 200,000 shares. More insider buying.
Yeah, I think a lot of investors (along with the share price) are still reeling from the Q2 results followed rapidly by the departure of Ben Kovacs followed immediately by his dumping millions of shares. The result of that trifecta just decimated the share price. HOWEVER, earnings have almost completely recovered according to the Q3 release and with every passing day, we are one day closer to the actual start of Facility B and acquiring a retail presence.
As painful as these past two months have been, I see them diminishing in the rear view mirror while Facility B looms ever larger in the windshield.
Great things are coming our way.