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lucky man, I wish I had seen it..... history.... with a joint... cheers
The House of Representatives passed a standalone marijuana reform bill for the first time in history on Wednesday.
https://www.marijuanamoment.net/house-approves-marijuana-banking-bill/
https://www.marijuanamoment.net/house-approves-marijuana-banking-bill/
The House of Representatives passed a standalone marijuana reform bill for the first time in history on Wednesday.
go Happyglass, go...
https://www.marijuanamoment.net/house-approves-marijuana-banking-bill/
The House of Representatives passed a standalone marijuana reform bill for the first time in history on Wednesday.
Thanks, Hunch.... we are living through history.... hopes this ups the sector ...
Nice one, Funman.... what a belter-skelter ride to US legalisation ....
Tally-ho
The SAFE Banking Act of 2019 (H.R. 1595) passes
FOR: 321
AGAINST: 103
Thanks, Funman, for update... Tally-ho
looks like the SAFE Banking Act passes.... 294 to 93 ....
SAFE Banking Act passes.... latest count I see is: 294 to 93 ....
SAFE Banking Act passes.... 294 to 93 ....
You will do very well with Aphrai, Daredevil1964..... we all will here....
LOL, Rowdy2 ..... you have a BRILLO day today...
Here is an interesting post I lifted from Happyglass, one of my favourite posters, and a woman with deep knowledge of the canna industry:
https://www.marijuanamoment.net/bernie-sanders-asks-campaign-rally-audience-to-share-stories-about-marijuana-arrests/
Sen. Bernie Sanders (I-VT) asked an audience in South Carolina to share stories about marijuana possession convictions and then argued that those anecdotes help to demonstrate the case for national legalization.
During a campaign stop in the early primary state on Sunday, the 2020 Democratic presidential candidate asked people to raise their hands if they knew someone who’d been arrested for possessing cannabis. There was no shortage of hands raised.
Colombia’s Congress to debate decriminalization of marijuana
Colombia’s leftist opposition sponsored a bill to regulate marijuana as part of a package of legislation proposals that seeks to end the war on drugs.
The marijuana bill of opposition Senator Gustavo Bolivar would end the repressive drug policy of President Ivan Duque, who can only count on a minority in Congress.
https://420intel.com/articles/2019/09/18/colombia’s-congress-debate-decriminalization-marijuana
Over Time, Old Testament.... all mistakes, please excuse, should have read: ON....
Hopes you have a profitable day today, Rowdy2
Excellent post, thanks Daredevil1964.
I have the same feelings as yourself, Happyglass, that's why I am buying in here big time....
My window is not to sell a share for 3 years.... same as we did with Canopy....
John, you'll be interested in this:
From Ted Ohashi's newsletter this morning:
"I’d like you to take a moment to draw your attention to an article about cannabis, Latin America and Khiron (TSXV: KHRN) (OTCQB: KHRNF). In the interest of full disclosure, KHRN paid to have the article written but it is not one of those highly promotional articles that is so common these days and it was not written by me! But having read many articles that are so biased against KHRN in my opinion, I have no hesitation recommending an article that I believe gives a fair and accurate summation of cannabis in Latin America and KHRN’s leading role in the industry. It also presents in a clear and understandable fashion why I believe KHRN is such a great opportunity for cannabis investors. It’s a fairly quick and easy read (less than 15 minutes). Here’s the link (to read article, Ctrl-Click here) ..... https://research.khiron.ca/next-aurora/?utm_medium=cpc&utm_source=powerinbox&utm_campaign=lead_generation&pi_content=492784&pi_device=mobile&pi_container=email&pi_rev=0.75&pi_adid=492784&pi_clickid=557caef1780f431887602307f1e37fb2&pi_creativeid=530809
Logic states that OT could have hundreds upon hundreds of canna stores.... look how many bars are there.... so this OT government ought to be taken to task for neglecting the will and desire of a huge minority seeking to observe the law and buy from legit businesses.... instead, the government bullies are forcing citizens to break the law and purchase on the black market....
This DEA Cannabis Announcement Will Floor You
It appears that the U.S. Drug Enforcement Agency is finally getting serious about marijuana.
https://www.fool.com/investing/2019/09/15/this-dea-cannabis-announcement-will-floor-you.aspx
Under the legislation, marijuana would be moved from Schedule I to Schedule III, which would make it easier to access for research purposes.
https://www.marijuanamoment.net/former-anti-legalization-clinton-cabinet-official-files-marijuana-reclassification-bill-in-congress/
Spurned pot shop hopefuls going to court to challenge cannabis store lottery
A group of prospective cannabis retail store owners who won a lottery to apply for a licence in the burgeoning industry before later being disqualified are going to court Thursday to seek a judicial review.
https://www.cbc.ca/news/canada/toronto/cannabis-store-lottery-court-challenge-1.5280194
so much to happen in 3 years, however, I know what I paid yesterday for ACB will be seem cheap in 3 years time....
agree. you a speaking sense.
excellent post ...
good points you make, jp68.
growing pains of a giant...
agreed
agreed
agree
Outlook
The global cannabis and hemp markets represent a significant opportunity for Aurora and the Company will continue to make the necessary investments today to build long-term value for shareholders. However, Aurora will take a balanced approach to these investments with a focus on operating a sustainable and profitable business.
The introduction of new product formats to the Canadian consumer market this fall represents a significant opportunity for the Company. Aurora expects to have a robust product line-up ready to launch in December. Given the very early stage of development of the consumer market in Canada and international medical markets, management anticipates that quarter to quarter sales volumes and revenues may be volatile. The Company expects adjusted EBITDA to continue to improve in the future due to expected revenue growth, improvements in gross margin and prudent SG&A growth.
The passing of the U.S. Farm Act presents new opportunities in the largest cannabis and hemp-derived CBD market globally, and as such Aurora is committed to establishing a substantial operating footprint in the U.S. As part of the U.S. market strategy, the Company is considering its stakeholders and how various state and federal regulations will affect its business prospects. A number of alternatives to grow Aurora's presence in the U.S. market are under evaluation and the Company is committed to only engage in activities which are permissible under both state and federal laws. Management believes there are currently market opportunities that are legal at both state and federal levels that can add operating cash flows and be critical pillars of Aurora's strategy and long-term success.
Consolidated net revenue increased 52% to $98.9 million in Q4 2019 as compared to $65.1 million in the prior quarter. Consumer cannabis revenues were $44.9 million in Q4 2019, an increase of 52% from the prior quarter and contributed 45% to total consolidated net revenue. Canadian medical cannabis net revenues increased to $25.2 million in Q4 2019, up 9% over the prior quarter. Revenue growth was primarily driven by additional production capacity and supply available for sale from Aurora Sky and Aurora River (Bradford).
Average net selling price of cannabis decreased by $1.08 per gram over the prior quarter from $6.40 in Q3 2019 to $5.32 in Q4 2019. This decrease is primarily attributable to the increase in sale volumes to consumer and bulk wholesale markets which yield lower average net selling prices as compared to medical markets.
Gross margin on cannabis net revenue increased to 58% in Q4 2019, compared to 55% in the prior quarter. Gross margin improvement was driven by the continued decline in cash cost to produce per gram and higher gross margins achieved on bulk sales.
During Q4 2019, Aurora produced 29,034 kilograms of cannabis as compared to 15,590 kilograms in the prior quarter. The 86.2% increase in production output was primarily due to the additional production capacity added by Aurora Sky, River (Bradford), and Ridge (Markham) facilities. Extraction capacity increased from 20,400 kilograms to 26,400 kilograms in Q4 2019. Subsequent to the quarter end, Aurora's annual extraction capacity further increased to 45,600 kilograms.
Q4 2019 SG&A increased by 9% to $72.9 million, compared to the prior quarter. The change was primarily driven by an increase in fulfillment and shipping costs related to the growth in consumer cannabis sales and continued investment in sales initiatives, distribution network, and partnerships to conduct research, develop products, and drive brand awareness. Aurora will continue to invest in infrastructure and talent required for market share growth in the global medical and consumer cannabis markets but will remain intensely focused doing this as efficiently as possible.
In Q4 2019, adjusted EBITDA loss improved 68% to $11.7 million from $36.6 million in the prior quarter. Developing a profitable and robust global cannabis company is extremely important to Aurora. In fiscal 2019 Aurora was focused on excellence in execution, and the Company's KPIs show its success in this regard. Furthermore, Aurora has addressed previously identified production bottlenecks and continues to see strong sell-through of the Company's products at the retail level. However, the Canadian consumer channel continues to experience challenges at the retail level in key markets and resolution of this issue is beyond the Company's control. Aurora is working closely with all our regulatory and channel partners to streamline distribution as the Company continues to track toward positive adjusted EBITDA on a consolidated basis.
The Company's operating facilities current annualized run-rate production capacity is in excess of 150,000 kg per annum, based on planted rooms. As the industry leader in purpose-built cultivation, Aurora is focused on producing a consistent supply of high-quality, low-cost product to meet evolving market demand. Aurora is well-positioned to respond to market conditions quickly with shorter lead times, increased harvest cycles and high plant yields.
Full Year Fiscal 2019 Highlights
Net revenue of $247.9 million, up 349% compared to the prior year.
Gross margin on cannabis net revenue of 55% in fiscal 2019 versus 65% in fiscal 2018.
Kilograms produced and kilograms sold of 57,442 kgs and 36,628 kgs, up 920% and 629% respectively compared to fiscal 2018.
Aurora Cannabis Announces Financial Results for the Fourth Quarter and 2019 Fiscal Year
Generates Net Revenue of $98.9 Million, Up 52% From Prior Quarter
Cannabis Net Revenue Increases 61% to $94.6 Million From Prior Quarter
Reports Gross Margin on Cannabis Net Revenue of 58%
TSX: ACB | NYSE: ACB
EDMONTON, Sept. 11, 2019 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, announced today its financial and operational results for the fourth quarter and fiscal year ended June 30, 2019.
Aurora Cannabis Q4 2019 Key Performance Indicators (CNW Group/Aurora Cannabis Inc.)
"In 2019 Aurora took its place as the global leader in cannabis production, research, innovation, and international market development. We are executing on all our strategic priorities," said Terry Booth, CEO. "Our best in class cultivation methods allow us to grow consistent, high-quality cannabis at scale. Because of this, we've delivered solid revenue growth in the fourth quarter. We are working to extend our reach in the U.S. markets. Our partnership with the UFC is a basis to explore CBD-from-hemp and hemp food products. We are also exploring additional opportunities and leveraging our Strategic Advisor. We are focused on building a sustainable, high-margin business while providing patients and consumers with access to safe and reliable medicine."
Glen Ibbott, CFO, added, "We continue to see strong growth in cannabis revenues in both medical and consumer categories. Our cultivation execution continues to drive production costs lower and improve gross margins. Aurora's diversified product portfolio remains in demand with patients and consumers alike. With the Canadian launch of derivative products in the coming months, we have made the necessary investments to ensure readiness and focus on a variety of value added products. We are very excited to supply an expanded consumer market with premium cannabis and new product forms."
Fourth Quarter 2019 Highlights
(Unless otherwise stated, comparisons are made between Fiscal Q4 2019 and Q3 2019 results and are in Canadian dollars)
Net cannabis revenue up 61% sequentially to $94.6 million
Canadian consumer cannabis revenue up 52% to $44.9 million
Medical cannabis revenue up 10% to $29.7 million
Wholesale revenues of $20.1 million
Cash cost to produce per gram sold declined 20% sequentially to $1.14 per gram in Q4 2019.
Production volume increased 86% sequentially to 29,034 kgs.
Gross margin on cannabis net revenue increased by 3% to 58% sequentially.
Aurora's medical patient base expanded 10% to 84,729 sequentially. As at the date of this release, Aurora has approximately 89,700 active registered patients, a further increase of 6%.
Adjusted EBITDA loss of $11.7 million represents an improvement of 68% compared to $36.6 million in Q3 2019.
I am holding ACB for next few years. I have over 100k ACB shares, and I am holding them. I expect a future of more Green than Red...
This is good news for Khiron..... let's see the PPS move up with news...
you lucky person....
cheers
thanks, steadykickin, informative article ....
" Khiron, a Canadian firm founded in 2017 and based in Colombia’s capital of Bogotá, now has marijuana plantations in this country as well as Chile and Uruguay. CEO Álvaro Torres, a 40-year-old Colombian engineer, says one reason he got involved in the business was the occurrence of so many high-profile deaths, including the music star Prince, from opioid-based drugs.
“So I look at that and say: ‘Why not cannabis which has less hazardous effects for the body?” Torres says."
thanks, Deetew.... $12 billion market.... wow... and another wow....
exactly .... they farm you.
doctors are basically farmers, keeping their flock stumbling along... making a mint for bigP...
nice one, thanks.
I find I cannot open it.... can you give a copy and paste.... thanks