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I don't think it was missed at all Buhlz. The company has already "Pre-announced" Q3 earnings. 11/30/21 is just the date when the official earnings announcement with all the supporting data will be released.
I remember when Veterans Day and Remembrance Day used to mean something. All three trade unions to which my company is signatory to, traded it away for MLK Day years ago. I’ve got no issue with MLK Day. Just a pity that Veterans Day has been thrown on the scrap heap.
173rd Airborne, Vietnam Vet. 1970-71
Now, onto more relevant issues. Great things coming our way. Never, ever focus on all the dust thrown into the air. Those are all just distractions which will prevent you from seeing the real issues.
1. Insane profit margins.
2. Real, carefully planned and we’ll thought-out growth strategy.
3. Facility B just around the corner.
4. Facility B will TRIPLE capacity.
5. Unbelievable quality with best marketing and labeling in the industry.
6. Zero debt. This is virtually unheard of in this sector.
7. No planned dilution in order to fund growth. This too is almost unheard of.
Know what you own investors. I’m not aware of any better or more undervalued stock in the sector.
There's the answer to your question Pete. How do you spell Cash-Cow?
Next Green Wave Launches New Sauce Carts
Vancouver, B.C. — November 9, 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 updates:
Sauce Cart Launch
After months of R&D testing, the Company is pleased to officially announce the launch of NGW’s 2.0 Sauce Carts (the “New Carts”). These carts still feature our popular premium, single-source, strain-specific, non-distilled, full-spectrum sauce. However, based on consumer and retail feedback, NGW has made some key product changes. Most notably, the third party hardware quality has been upgraded to properly deliver the Company’s premium cured sauce. We are now filling and packaging these units in-house to ensure the overall quality of each unit. The packaging has also been upgraded to match NGW’s premium flower and to give retailers several options for display. The Company sold over 2,000 New Carts in the first week at margins that are consistent with its other premium flower product lines. With our new internal production processes in place, we will now be able to scale growth to meet this demand.
“Launching the 2.0 Sauce Carts, from a brand perspective, completes our pivot away from lower margin commoditized products to a total focus on higher margin premium products. In both the premium indoor flower and premium indoor sauce cart categories, we can both leverage the artisanal quality of our products and achieve high margins in ways we cannot in the other branded product categories.”
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
AGM Results
The Company held its Annual General Meeting on Friday November 5. All resolutions presented to the shareholders were approved with over 98% of votes cast being in favor of each resolution (see SEDAR filing of the Company’s Information Circular dated October 1, 2021).
As a result:
• Dale Matheson Carr-Hilton, Chartered Professional Accountants were re-appointed as the Company’s auditor;
• The Number of Directors was set at 4 with the following nominees elected as directors: Mike Jennings, Glen Harder, Curtis Floyd, and Norm Mayr;
• The Company’s Incentive Stock Option Plan was re-approved; and,
• The shareholders have approved the adoption of an Advance Notice Policy (the "Advance Notice Policy"), establishing a framework for advance notice of nominations of directors by shareholders of the Company.
The purpose of this Advance Notice Policy is to provide shareholders, directors and management of the Company with direction on the nomination of directors. The Advance Notice Policy is the framework by which the Company seeks to fix a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form.
For all subsequent meetings of shareholders of the Company:
• In the case of an annual meeting of shareholders, notice of a director nomination must be given to the Company not less than 30 nor more than 65 days prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is called for a date that is less than 40 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the Nominating Shareholder may be made not later than the tenth (10th) day following the Notice Date.
• In the case of a special meeting of shareholders (which is not also an annual meeting) called for the purpose of electing directors (whether or not called for other purposes), notice of a director nomination must be given to the Company no later than the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting of shareholders was made.
The Advance Notice Policy is effective immediately.
The Company would also like to confirm it will be releasing its Q3 2021 Financial Statements on November 30, 2021.
The Company has granted 600,000 stock options to three directors under its stock option plan, exercisable at a price of CDN$0.50 per share, with an expiry date of five years, and will vest 25% every 6 months for a period of two years.
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
I work in the Commercial / Industrial / Institutional Building Sector, Crypto. It has been my livelihood for the past 46 years. For the past 31 years I have owned my own business as a concrete contractor in the same sector. As such, I have experienced, first hand, the supply issues you cite. Generally, it is the structural steel components which have been the most hard to come by. Other steel components (reinforcing steel and lumber) while expensive, have still been generally available.
The supply chain issues will get resolved eventually.
Regardless, the company needs to update the investing public about anticipated scheduling. If the contractor can't provide that, they have the wrong contractor.
FWIW, the structural steel isn't required on day one of construction. Generally there are a couple of months of construction required before the structural components are required.
Facility B is crucial in the growth story which is NGW. We need to do whatever we need to do to get it moving forward.
As I observed when the Cookies deal was originally announced, until capacity is increased via expansion, I don’t see much impact whatsoever to the bottom line. It would be an entirely different story if the company were having difficulty finding a faithful following with the consuming public. But all indications are that the product is currently being sold as rapidly as it can be produced. Now, once Facility B and subsequent structures come online, then the Cookies deal will be truly significant. Until then, not so much.
That is why the importance of Facility B cannot be overemphasized.
It has often been stated that there are tons of reasons an insider would sell shares. But there's only one reason for an insider to buy shares.........and that's because they are expecting the price per share to increase.
In this case however, there may be another reason............and that would be to try and wrestle control of the company away from the current CEO.
He'd have a long road to hoe however if he were to try and accumulate enough shares for that. My guess therefore is that he expects the price to increase.
Curtis Floyd purchased another 80,000 shares yesterday.
Todd Hybels added a taste yesterday.
Spot-On Harpo.
Not a stupid question at all.
First, there times when a company's price per share has little to no correlation to it's value. For instance, the ONLY way a company could ever be valued at a true zero valuation was if there was sufficient debt to outweigh their assets. In the case of NGW, there is ZERO debt and significant real-estate holdings along with buildings and equipment and inventory................so there is no conceivable way it could be valued at zero.
Having said all that, it did get down to $.04 a couple of years ago, but that was before they had harvests or retail sales at all.
I realize that it's difficult to watch the slow bleed, but the company is way, way undervalued at these levels. What we are seeing I believe is some significant liquidation of positions and little interest from new investors. The downward pressure will end eventually. And the price will recover.
Added 10,000 at $.301
Curtis Floyd bought another 16,400 shares yesterday. Clearly he is voting with his dollars that this is undervalued.
I both agree and disagree BillyT. Yes, the market currently is clearly not enthralled with NGW, but there are always, always companies which are way undervalued AND given lofty valuations which are undeserved. ACB and CGC come to mind here.
Using the "market is always right" argument, then when NGW hit $.93 earlier this year, then that was a right valuation?
How about when Qualcom (QCOM) was shooting up 10% - 15% a day, every day for months on end years ago? Or JDSUniphase (JDSU) which went from $193.00 / share to $16.00 / share in a two month period? Which valuation was correct?
There are thousands of examples which demonstrate the contrary. If every security was "priced fairly" there would NEVER be any advantage to buying ANY stock.
But you are right when you say that there appears to be little interest in NGW's stock currently.
I will continue to accumulate however. I am firmly in the camp which believes that it is undervalued.
Curtis Floyd purchased 100,000 shares yesterday. Hmmmmm.
Looks like Matthew Jewell purchased another 11,600 shares yesterday.
Funny you should say that. I was thinking of driving to Coalinga myself for the same reason.
I doubt they have proceeded with building construction however. I’m pretty sure Mike would have announced it if they had.
I had wanted to add this week prior to this release, but alas, I'm waiting for some funds to clear. Snail's pace.
No matter, Bright future here for those with the patience.
I would just add:
I like that they have increased revenue, paid off all debt AND NOT DILUTED SHARES in order to achieve that.
Highly unusual in this sector.
I'm happy with my investment. Still expecting this to be a $5.00 stock within five years.
Next Green Wave Releases Q3 Results
Vancouver, B.C. — October 13, 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:
High Level Q3 2021 Results
The Company has exceeded its Q3 2021 Adjusted EBITDA* projection (originally announced HERE).
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 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*
“After an uncharacteristically down Q2 due to adjustments in our market strategy, we’ve increased revenue by over 30% quarter over quarter in Q3. Internally, we knew our Q2 results were a one-off and this earnings release is a big first step toward proving that to our valued shareholders. Additionally, the release of our 2.0 sauce carts in the coming weeks will add to our premium quality product line and further our long term high margin objectives. Combined with the fact we’ve increased flower yields by 15% year over year, we are well positioned to continue growing revenue over the next several quarters while we expand production capacity and integrate into retail. 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.
They didn’t say. I’ve seen them do both so your guess is as good as mine.
I've actually seen similar stores a half dozen times over the past year.
Well.............when that "Auto Loan" which was paid off entirely was $2.9 million, yes, that is a huge deal.
Actually the REAL joke is someone who claims that being debt free is somehow bad news. THAT’s a joke.
Great news.
But I guess they paid off the debt by all the non-existent profits. Must be that.
Good job NGW!
Absolutely incredibly good news. Good job NGW!
Why am I accumulating? For the same reason I have always been buying. Because this company has a very good chance of being a $5.00 stock within the next five years.
They had a bad quarter. It's done. The reasons given, although unfortunate, are totally understandable. Coupled with the six month delay in construction, (also totally understood) and a Director leaving and dumping all his shares.........it was the perfect storm of events to decimate the trading price.
BUT
The important thing is that the company is still profitable, and according to Mike, will rebound significantly in Q3. Facility B will get built. As will the balance of the Coalinga campus. The company will expand shortly into retail. I'm not sure I'm a fan of that option, but many shrewd Cannabis investors swear that is a cash-cow in the making.
All in all, not much at all has changed and the significant discount to the share price is a boon to those with the vision to take advantage of it.
That's why.
You've seen how explosively the price can move skyrocket upward. You, yourself profited hugely from that upward movement. I believe that will happen again. If not for the bad quarter, I believe it would be happening right now. Instead, I believe it will move again, in a huge way, in Q1 or Q2 of 2022.
Craig:
Nope, I haven't bailed and I'm still accumulating. I've just got a ton of irons in the fire, all of which require some attention.
Still long and strong.
Because I’m convinced that 2nd Qtr was just a fluke.
Those who exited recently will soon regret that decision.
High End Craft Cannabis Market Set For Growth
https://www.msn.com/en-us/money/smallbusiness/as-cannabis-industry-matures-the-high-end-craft-cultivation-market-is-set-for-growth/ar-AAOocMA?ocid=msedgdhp&pc=U531
Todd Hybels purchased more shares yesterday. Not a ton, but he’s still buying, putting his hard earned dollars into shares.
The City of Coalinga issued the initial permit for the Civil package. The Civil package consists of: Earthwork, grading, underground utilities, (storm, sewer, fire water, domestic water, gas, electrical and communication lines). It's a fairly common practice when confronted with a delay in the building of the structure. Doing so enables all the up-front items to proceed, which they would have to do anyway, while waiting for the building permits.
Well this surprises nobody at all!
Next Green Wave Announces Resignation of Director
Vancouver, B.C. — September 7, 2021 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", “NGW” or the "Company") announces that Benjamin Kovacs has resigned from his position as Director, effective September 6, 2021.
The Company has not announced a replacement for Mr. Kovacs at this time.
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
Yup. The SEC would have eaten him alive.
I doubt he’s done. I expect he’ll finish liquidating next week. Sure looks like he’s packing his suitcase.
From an article I just read online:
"According to New Frontier Data, the U.S. weed market is on track to grow by an annualized average of 21% through 2025. This would place annual pot sales at north of $41 billion by mid-decade. Meanwhile, cannabis-focused analytics company BDSA expects Canadian weed sales to more than double from $2.6 billion to $6.4 billion between 2020 and 2026. There's plenty of room in these robust growth projections for certain marijuana stocks to thrive."
Agreed Bono. One thing I've learned in running my own business for the past 32 years............never, ever, EVER let a bean counter run your business. Don't get me wrong, they bring crucial skills to the table, but almost always, they don't know squat about the industry they work in or what REALLY generates revenue.
Yes it takes both disciplines to be successful, but the guy in the trenches, the guy with the actual knowledge in the industry, the guy with dirt under his fingernails and calluses on his hands should ALWAYS be in charge.
I added today. It's a fundamentally rock-solid company with a bright, bright future.
I heard over on Stocktwits that someone wrote to IR and was informed that they will be released tomorrow morning before the open.
Big day today.
Earnings to be released after the close and hopefully, Mike will throw in an update on Facility B.