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Green Thumb Industries (OTC:GTBIF) reported its Q1 earnings results on Wednesday, May 3, 2023 at 04:00 PM.
Here's what investors need to know about the announcement.
Earnings
Green Thumb Industries reported in-line EPS of $0.04 versus an estimate of $0.04.
Revenue was up $5.94 million from the same period last year.
Past Earnings Performance
Last quarter the company missed on EPS by $0.01 which was followed by a 0.6% increase in the share price the next day.
Here's a look at Green Thumb Industries's past performance:
Quarter Q4 2022 Q3 2022 Q2 2022 Q1 2022
EPS Estimate 0.06 0.06 0.04 0.05
EPS Actual 0.05 0.04 0.10 0.12
Revenue Estimate 256.17M 258.31M 248.01M 249.26M
Revenue Actual 259.27M 261.19M 254.31M 242.60M
Good news, volumes up over the last 3 days, it’s up a pretty good amount. The bad news is it has went from 0.0485 to 0.040. Also, of note today it lost the 200-day support.
I would think that 1st qt report should come out within 2 weeks now.
FYI Cantor Fitzgerald Discontinues Cannabis Stock Coverage With Analyst Departure -- MarketWatch
2:36 pm ET May 1, 2023 (MarketWatch)
Print
Cantor Fitzgerald said Friday it will no longer provide research coverage of 23 cannabis stocks because analyst Pablo Zuanic has departed the firm. Zuanic is now head of Zuanic & Associates, a consulting and research firm aimed at the cannabis sector, according to his LinkedIn profile and a website for the firm. Cantor Fitzgerald said analyst Brett Knoblauch is now covering MDMA researcher WM Technology Inc. (MAPS), but it's dropping coverage of Cresco Labs , Curaleaf Holdings , Green Thumb Industries , Trulieve Cannabis , Verano Holdings , Tilray Inc. (TLRY), TerrAscend , Ascend Wellness , Canopy Growth Corp. (WEED.T) and others. Zuanic & Associates did not immediately reply to an email. The AdvisorShares Pure U.S. Cannabis ETF (MSOS) is down nearly 20% in 2023 and down 63.5% in the past 12 months, compared to a 16.9% year-to-date gain and a loss of 0.8% in the past 12 months for the Nasdaq .
FYI - Cantor Fitzgerald Discontinues Cannabis Stock Coverage With Analyst Departure -- MarketWatch
2:36 pm ET May 1, 2023 (MarketWatch)
Print
Cantor Fitzgerald said Friday it will no longer provide research coverage of 23 cannabis stocks because analyst Pablo Zuanic has departed the firm. Zuanic is now head of Zuanic & Associates, a consulting and research firm aimed at the cannabis sector, according to his LinkedIn profile and a website for the firm. Cantor Fitzgerald said analyst Brett Knoblauch is now covering MDMA researcher WM Technology Inc. (MAPS), but it's dropping coverage of Cresco Labs , Curaleaf Holdings , Green Thumb Industries , Trulieve Cannabis , Verano Holdings , Tilray Inc. (TLRY), TerrAscend , Ascend Wellness , Canopy Growth Corp. (WEED.T) and others. Zuanic & Associates did not immediately reply to an email. The AdvisorShares Pure U.S. Cannabis ETF (MSOS) is down nearly 20% in 2023 and down 63.5% in the past 12 months, compared to a 16.9% year-to-date gain and a loss of 0.8% in the past 12 months for the Nasdaq .
FYI -DENVER, April 28, 2023 /CNW/ - (TSX:CWEB) (OTCQX:CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in cannabidiol (CBD) hemp extract wellness products, will report its first quarter financial results prior to market open on May 12, 2023. A conference call to discuss the results is scheduled for the same day at 10:00 a.m. Eastern Time.
FYI - Today -U.S.-Listed Shares Of Cannabis Stocks Rise Premarket After Safe Banking Re-introduced In House And Senate.
Sure it does. It shows how long this 007 carrot has been running. What your NOT mentioning is THEY ARE DOING NOTHING WITH THE PATENT, NOTHING AT ALL!
ALSO THEY HAVE NO MONEY TO DO ANYTHING WITH ANYWAY
AND ONCE AGAIN IF EVERYTHING WENT PERFECTLY FINE IN PHASE 1 2 3 THEY ARE STILL 3 YEARS AWAY FROM EVEN FINDING OUT IF THEY HAVE A PRODUCT TO SELL
Other than that, how was the play Mrs. Lincoln
Here is another that ties right in to your post. A little dated but it shows they're right on track to get this done before 2050. (CVSI-007), being the subject. 7 years ago but much has changed, First I'm 7 years older, and 2, that was before the 99 percent drop.
And the band played on.
CV SCIENCES, INC. ISSUES LETTER TO SHAREHOLDERS
Download as PDFSeptember 27, 2016
LAS VEGAS, NV -- (Marketwired) -- 09/27/16 --
CV Sciences, Inc. (OTCBB: CVSI) (the "Company", "CV Sciences", "our" or "we"), issued a letter today to its shareholders discussing recent events and highlights.
Highlights of the letter include discussion of the following recent accomplishments:
Acquisition of CanX Inc. and focus on the development and commercialization of innovative medicines. Multi-billion market opportunity presented by initial drug candidate (CVSI-007), a proprietary chewing gum that combines synthetic CBD and nicotine to effectively treat smokeless tobacco addiction. Review of drug development program and timeline of achievements and upcoming milestones. Update of the Company's CBD Consumer Division, which has grown from 120 retail locations to now over 700 locations. Macro factors that continue to drive the market for natural CBD and hemp products. Review of corporate priorities in the Company's pharmaceutical and consumer product divisions and how to effectively maximize the value of its operating assets for the benefit of shareholders.
The FDA claims, they don't know what the long term effect is on whatever dose they pick. And thats the biggest problem. But again I would think there is far more to that judgement than what is stated.
UN you say, something I haven't even considered. And something worth looking into.
Again I agree, I'm running in the 20 - 30 range which seems to work best.
No, I agree they haven't. I take it as a ploy, a delay for whatever reason they have. It shouldn't be this hard to do, there are reasons why it's become so. It's too easy to just call it big pharma, it may be just that or some other political purpose not yet exposed.
What I was talking about is the whole farm bill, there is a lot on that agenda, not just the CBD. In regards to FDA/Congress. The FDA bails, can't figure it out, needs to go to congress, congress says this is your puppy, this is what you do, solve it.
There is alot to sort out. What they really address, to me, is a very wide playing field. But you are correct when you state the FDA is the hold up in regards to CBD. And this push, shove match they have with congress isn't getting it done. From either side.
Thomas, I just noticed there has been only $480 in trades during the 1st 4 hours. 9 trades avg 53 per. Perhaps you can kind some more rat stories, that seem to help yesterday.
Let's hope so.
Well, that’s just it. We don’t know what we don’t know. I mean this is something beyond somebody not paying the taxes. Twice it’s went to court, and both times the judge referred the matter to arbitration. I don’t call that the norm. Mona’s was banned for 5 years, the 5 years is up this year. Related, not related, don’t know. If a person was sitting in the court house, they would have a better idea, but this one isn’t important enough to do that. It’s all going to come out anyway, until then those legal fees keep mounting.
So how are you factoring the hollow shell on CVSI, relatively stable price, 0.04’s, with the collapse of the volume along with the parity risk?
You maybe right $90 in trades in the first hour!
Thanks for your rat study.
At this point it's just a thought.
3 ½ hr in $929 in trades $61 per trade. 15 trades.
Net loss was $8,214,000, however net loss attributable to common stockholders was $9,134,000.
Deemed dividend for beneficial conversion of Series A Convertible Preferred Stock $920,000.
All figures taken from the 10K SEC filing.
I wonder if Mona will take the company back over?
Just a friendly reminder on the Legal front. The Ninth Circuit tossed a CBD company's challenge to a lower court order requiring it to arbitrate a co-founder's claims that the business neglected to withhold $5.2 million in taxes from stock compensation, saying the company failed to prosecute its case.
It’s a shame they failed. Just didn’t have the ducks in a row I guess.
To your question : "Recall back in lthe middle of January" Nope.
Thanks to Darth on the legal update posted earlier. ""9th Circ. Snuffs Out CBD Co.'s Appeal Of Tax Arbitration Order":
No appeal today. . . . . . . but seriously, does it really matter. My weekend is going to be fine.
All is well
And the band played on . . . . . . for now
Another $1700 in total trades today. 19 traders. Looking good.
CV is worth 6 mil and change, but it lost over 8mil last year The good news I guess is they are not going to lose 8 mil this year, now are they.
Well Darth, that’s a pretty good post. Sounds “real” to me, and more than a few have the same view.
The window dressing to appease the public is nothing new. Still, they have to give that appearance to show they’re trying.
You have a good weekend as well.
Well geez, that's a shame.
NEWS FLASH Summary how they lost money last year.
From the PR
CV Sciences FY22 Revenue Declines 19% To $16.2M
CV Sciences, Inc. (OTCQB: CVSI) FY 2022 revenue was $16.2 million, a 19% decrease compared to $20.0 million for 2021.
Q4 2022 Financial Highlights
Revenue of $3.9 million sequential increase of 3% from $3.8 million in the third quarter 2022, and a decrease of 22% compared to the same prior year period.
Gross margin of 40.4% compared to 41.6% in the third quarter 2022;
Cash balance of $611,000 at year end compared to $1.4 million at the end of 2021
Net loss - 8,214,000
007 patent. No money to advance at this time. However, will be seek approval from the U.S. Food and Drug Administration. And then will be seeking strategic opportunities
Important notes from the 10K
Going Concern
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has experienced recurring operating losses, negative cash flows from operations, and has limited liquid resources. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Intangible Assets – We classify intangible assets into three categories: (1) intangible assets with definite lives subject to amortization; (2) intangible assets with indefinite lives not subject to amortization; and (3) goodwill. We determine the useful lives of our identifiable intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors we consider when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, our long-term strategy for using the asset, any laws or regulations which could impact the useful life of the asset and other economic factors, including competition and specific market conditions. Intangible assets that are deemed to have definite lives are amortized, primarily on a straight-line basis, over their useful lives to their estimated residual values, generally five years.
In-process research & development ("IPR&D") has an indefinite life and is not amortized until completion and development of the project, at which time the IPR&D becomes an amortizable asset. Until such time as the projects are either completed or abandoned, we test those assets for impairment at least annually at year end, or more frequently at interim periods, by evaluating qualitative factors which could be indicative of impairment. Qualitative factors being considered include, but are not limited to, macro-economic conditions, progress on drug development activities, and overall financial performance. If impairment indicators are present as a result of our qualitative assessment, we will test those assets for impairment by comparing the fair value of the assets to their carrying value. Quantitative factors being considered include, but are not limited to, the current project status, forecasted changes in the timing or amounts required to complete the project, forecasted changes in timing or changes in the future cash flows to be generated by the completed products, a probability of success of the ultimate project and changes to other market-based assumptions, such as discount rates, current Company market capitalization and estimates of the fair value of the Company's reporting units. Upon completion or abandonment, the value of the IPR&D assets will be amortized to expense over
Going Concern
U.S. GAAP requires management to assess a company's ability to continue as a going concern within one year from the financial statement issuance and to provide related note disclosure in certain circumstances. Our financial statements and corresponding notes have been prepared assuming the Company will continue as a going concern. For the year ended December 31, 2022, the Company generated negative cash flows from operations of $1.9 million and had an accumulated deficit of $87.7 million. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund our operations and growth initiatives. The Company intends to position itself so that it will be able to raise additional funds through the capital markets, issuance of debt, and/or securing lines of credit in order to continue its operations. However, there can be no assurances that additional working capital will be available to us on favorable terms, or at all, which would be likely to have a material adverse effect on the Company's ability to continue its operations.
7 trades in the first hr. $28 per trade. $198 in total trades. Good start.
Another good day in trading. $1774 in total trades from the 13 who traded. Only 1 buy at ask however and that was a $ 4.85 trade. They main thing is it’s still trading. The last 2 ½ hr there was no trades.
After a little more thought on that 007. I don’t think the company can stay in business long enough to wait on the possible approval process to work thru the system. If they do partner with somebody, the somebody will have to pick up most of the costs, which may work but the time issue, from start to finish for a medical product . . . . well before all of that the FDA will also have to get on board.
You know what CVSI could do is find a partnership and develop the 007 patent. If they hurry, they could even get the pretrial done this year yet. And if all goes really, really well and they pass phase 1,2 and 3 they could have a product to sell by early 2027. Yes, I know that’s quick, but I did say if all goes really well.
Now what they do between now and then is a very large problem for them.
1st qt numbers coming up in about 3 weeks or so. Good time to take a real good look at that cash position. Along with sales and SG&A
On the other hand, many many CBD companies will falter this year and certainly the next.
And the band played on.
Regarding your statement : "The Facts brought to YQU by Wolfy’s Paint By Numbers"
Is that anything like FOX news? Seems alot like it!
Yep, and cv is down 50% year over year. But that doesn't matter. What does is how are they going to avoid BK, or are they. Be fun watching. I'm in no rush either way.
DOWN another 9 percent. Month after month, year after year. It never fails.
That's just BS.