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OGI flower review -
When was that article from?? And they still don’t have their drink mix ready for sale. Just terrible performance by the CEO. And other MJ companies like TGOD already have their powder product on shelves in stores. Just another loss for OGI.
OGI, the once diamond in the ruff is now a well known fake! These guys are clowns that know nothing about MJ and what the consumer wants.
THC dissolvable powder out for sale however not by OGI but by TGOD. OGI will just be one of many to have a dissolvable powder on the market and they were not 1st with it as theirs has yet to hit the stores. Obviously it wasn’t too hard to do as others are already there. OGI made it sound like they had the only powder formulation, guess not.
Edison Bytes review:
Glad your fine but nobody cares about what you prefer they care if OGI can sell flower and to this point they have put out a lot of bad weak flower that hasn’t sold that great. You can see the large returns they write off each quarter for expired unsold flower that’s not good!
Wrong, the top sellers (not awarded) are the highest THC ones. Don’t tell me if they were producing a 30% strain they would try to scale it back to lower THC level. If they had a 30% strain they would be elated and it would be their top seller hands down. Why do you think people use concentrates they enjoy getting more from less. Personally I would rather take two hits of something strong than 5 hits of a weaker strain to get me to the same level. Why pump more smoke into your lungs when you don’t need too? And many prefer that as the high THC strains are always first to sell out, everytime!
Lol that’s not high THC, 28% or above is high THC. Anything In the teens is not worth purchasing. They are getting there with the 18-25% but many other cultivators are producing higher THC levels. I hope they figure it out I used to have a lot of money in this stock and now it’s not worth much at all.
More than 80% down from last year and not returning with the massive dilution they did.
Greg Engel CEO has no knowledge of how to run a big MJ company and put people under him that don’t know anything about MJ either.
Delisting from NASDAQ is very possible if slide continues. Or a reverse split may happen these guys went from one of the best unknown MJ stocks to one of the worst known stocks. Low THC, excessive spending with no research on returns and 3 class action law suits against them now. One for tainted product, one for giving folks in their city legionnaires disease because they can’t keep their a/c units clean and now the most recent falsifying THC levels in their products. They are a mess right now.
They diluted the crap out of this thing and now has no chance of returning to last years high.
.20 cents away from being delisted on NASDAQ. Guarantee they do a reverse split before they let let their NASDAQ status slip away. A reverse split would crush shareholders here.
I know they don’t get delisted the day they drop under $1 u.s. it takes a few weeks of staying under $1 before they delist them but company most likely will reverse split not a good situation right now.
Greg Engel needs to be let go his leadership has sunk this ship and the pps. Incredibly poor decisions and business direction.
Looks like this is slowly creeping back up hopefully new CEO helps to keep it going. They do have good quality flower.
NASDAQ requires $1.00 pps, .23 more cents down and they are out of compliance with requirements and could be kicked off the NASDAQ.
Or they may have to do a reverse split like ACB did recently and if that happens kiss your investment goodbye!!!
Organigram (OGI.TO)(OGI) became the latest major producer to write-off excess and unsaleable inventory, amounting to a $19.3 million charge in its most recent quarter.
From article was reading...
It doesn’t go back up, it was $8 last year and now it’s $1 so how do you say it goes back up. It’s over 80% down since last year. Also have many other stocks too and do buy/sells here depending on RSI so your surfing anology was based on wrong assumptions kinda like the goofballs running OGI assuming they knew what they were doing. Well Gracewood got canned so that may be a start in the right direction here. Check out ZBISF they have a lot of what OGI has just totally under radar with low volume and are at .07. Outstanding shares are much higher than OGI by 4x.
Stock is in a dilution downward spiral.
OGI = we grow MJ for amateurs who don’t like to get high, we are like a beer company that only makes non alcoholic beer. Our MJ is not much stronger than hemp. Please invest here so we can keep our huge salaries while making horrible business decisions and driving the company into massive debt.
If you want to lose money buy OGI, they will dilute the crap out of your shares and make bad business decisions to further your loss. Such a crappy ran company just unbelievable.
From earnings: “Q3 2020 negative adjusted EBITDA of $24.7 million compared to Q3 2019 adjusted EBITDA of $7.7 million.”
“Q3 2020 net loss of $89.9 million, or $(0.51) per share on a diluted basis, compared to Q3 2019 net loss of $10.2 million, or $(0.07) per share, largely due to greater negative gross margin in Q3 2020 as described above as well as $37.7 million in impairment charges for property, plant and equipment in Q3 2020 ($0 in Q3 2019).”
“sales returns and price adjustments on slow-moving aged product of $3.0 million was recognised during Q3 2020.”
“Cost of Sales:
Q3 2020 cost of sales of $44.4 million compared to Q3 2019 cost of sales of $12.5 million.”
These numbers are terrible .51 loss per share not good.
Stock price says it all, 83% drop off high last year.
Dilution played a massive role in that and the dilution was needed because of bad business decisions.
Wasn’t referring to the quote meant the part saying that they know what they are doing and are well funded. They have made way too many major mistakes and are only funded because they diluted the crap out of the stock and shareholders lost millions due to that. These guys have no clue on what the customer wants.
Your comments are so wrong it’s almost like your talking about another company. You realize they have had to raise (by dilution) millions and millions of dollars just to stay in business. And they have no products on any top seller list. Management is pig headed and does not know what the consumer wants nor do they care because they just keep diluting more and are currently causing huge losses of shareholders hard earned money. Why worry about losses or spending when shareholders who believed their lies are paying for their mistakes.
Yep you have some stubborn folks up top that think they know about MJ but actually know nothing about it. Took them 4 years to realize what the consumer wants with THC levels and may be too late now. Then the dumb chocolate line they spent 15 million on was a huge waste of money. For the amount of chocolate that will be sold it is total overkill all paid for by shareholders though so they don’t give a crap. How much chocolate would need to be sold to make back 15 million in profit not revenue but profit? So why not have it contracted out till you know if it’s going to be a good seller and then use the actual numbers to assess if a 15 million dollar line is worth it. Plus chocolates are not great selling edibles to begin with but the fact is they went that route only because one of their top guys worked in a chocolate factory before OGI. Terrible reason to blow 15 million but just shows you the history of how they think there. Lastly the massive dilution is all due to poor decisions and mistakes made by management, if they had a better business plan from the start and hired knowledgeable MJ folks things would be different instead you have a bunch of suits that know nothing about what consumers want and shareholders are paying for their ignorance.
Ridiculous, starting two years ago began emailing Greg Engel, Amy at investor relations and the prior investor relations person all letting them know in detail about the U.S, market and how high THC sells and low THC does not. They are growing junk in a first class facility, terrible. And wonder how that $15 million chocolate line is doing I would bet sitting idle running maybe once a month or probably hasn’t run since the initial batch was produced.
Classic what drove this stock to reverse split is happening all over again. Acquiring companies at a premium and then doing massive write offs on the loss. This pig is heading back to under $1 if they keep this up. Why the stock is up on this news is beyond me guess people just don’t know the history here.
Greg Engel is a thief robbing shareholders and on top of it not a smart businessman, spending $10 million on a chocolate processing line that will sit idle most of the time. Then does massive dilution because they are out of money. All the shareholders are getting killed while he makes his million or so a year and doesn’t give a shit about any of you.
What an evil little weasel!
Reverse split very likely here, need to stay above $1 to keep their NASDAQ eligibility and close to going below.
Also ACB did a reverse split recently so may have been the first of many MJ stocks to do so. This is really bad for investors and their latest round of huge dilution is a clincher they are in big trouble.
New 52 week lows coming get out if you can
Greg Engel is a little weasel, this stock is trash now! Massive dilution on top of more massive dilution.
Time for new CEO!
Says 13% for vapes and chocolate, this is how they broke it down.
“The Company continues to diversify its revenue streams. During the quarter traditional Rec 1.0 products in the adult-use recreational space represented 52% of net revenue (91% in Q2 2019). New Rec 2.0 products (chocolates, vape pens) in the adult-use recreational space represented 13% of net revenue (0% in Q2 2019). Wholesale sales to other large Canadian Licensed Producers represented 24% (0% in Q2 2019) with Canadian medical sales representing 10% (9% in Q1 2019) and international sales representing 1% (0% in Q2 2019). The Company continues to pursue additional opportunities to expand its product mix and customer base.”
Coronavirus is most likely affecting their biggest money maker which was 52% of their revs next Q report will have much lower numbers.
Dilution last Q was massive - “The Company issued approximately 16.2 million Common Shares pursuant to the ATM Program during the three months ended February 29, 2020 for gross proceeds of approximately $55.0 million”. This caused massive drops in the share price, what a bunch of pigs feeding off their shareholders.
Solid support? Medical was 10% of their total revenue.
“with Canadian medical sales representing 10% (9% in Q1 2019)”
This is their from earnings report
Is this going under $1??
OGI getting hammered pre market need a cure!
Will this go below $1 USD.
I don’t think so but if people don’t stop panicking about this over blown virus it may. I refuse to even open yahoo and look at news any longer because 90% is about covid-19 what a waste. The common flu kills and has killed more people this year and last year in the same time frame. Here is how stupid it has gotten, an area in Iran had a rumor floating around that liquor prevents covid-19 so people started buying bootlegged booze and more people in that area have died from the bootlegged booze than the actual virus. Bunch of lemmings just like the folks running from their investments, I hope the market comes back quickly when it does and those that sold for the virus scare get caught holding their cash and missing the gains. Sorry but this should not have caused a market crash.
TGOD is selling a dissolvable powder for drinks (The Green Organic Dutchman). Guess OGI will not be first to market with this technology nor will it be the only player. Here is an exert from TGOD’s earnings report
“Started selling Infusers, a tasteless and odourless dissolvable powder that provides the freedom to infuse any food or beverage with cannabis.”
This could be a reason OGI is not getting a deal with a drink company. I’m sure the drink companies can just get white label powder from the companies that produce it, I don’t believe OGI is producing their powder in house. Like the vape oil which has a few bigger companies producing much of the oil for the growers but they also buy bulk MJ themselves and sell white label oil for companies that don’t grow.
The little unknown loser ZBISF. Hopefully turns to the positive soon and gets some attention.
Anyone know how much they are diluting?
Cheers to that!
https://www.newcannabisventures.com/organigram-releases-summary-findings-from-cannabis-edibles-research-study/
OGI only polled 2001 people in the survey and then they said they did some from each province so about 200 people a province, seems like a very low amount. At least they tried a little.
This is painful
Corona is a news spun panic. Since so many normally healthy people get it or have gotten and didn’t need hospital care to get rid of it the numbers are massively off because those people are not included in the base count and makes the virus look worse than it is. The media just loves to spread panic so you tune in for the next update.
Quite the eye opener to hear Canopy currently has the capacity to produce 2 1/2 times what all of Canada consumes legally. Now more than ever to get market share you need top selling SKU’s or you will go under. Having product won’t get you sales, how did all of the MJ companies forecast so poorly that they are all scaling back production only 1 year after legalization. And yes even OGI had to scale back and cancel plans on grow rooms they planned to use. They should of seen the lack of stores and adjusted accordingly.