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“Labs are very very busy”
Keep in mind the Q ended before the July 1 testing deadline.
Testing is in demand in CA.
http://www.lacannabisnews.com/california-marijuana-products-delayed-by-backlogs-in-testing-labs/
Agree. I heard several huge growers and probably lots of small ones closed up shop in Oregon. The companies with ability to hang on today will get the market share later.
And when Oregon becomes a supplier to the nation in a few years when this goes legal, EVIO will be sitting pretty.
Oregon is a tiny state population wise compared to California. But it’s claimed to have even better weed
Im headed to the beach and staying long.
Interesting that both DIGP and E*IO had tough quarters. I wonder if it’s indicative not only of he shutdown but pains and volatility of a maturing market. And seasonality. Summer is big for buyers. As is 4/20 and the holidays. From Jan-mar there isn’t as much smoking going on
That’s right. The Oregon market was decimated. Growers went out of business and inventories from the fall harvest were huge. A lot of product got tested in the fall then the growers took a break to wait until the product got sold.
We might see some of the private labs go under.
California doesn’t really start testing till July 1.
a dip here could create a good buy opportunity
That’s frightening Ranch.
Four. :) im also in EVIO, MSRT (unfortunately), and watching ISOLF
Im weighted more in EVIO, they have 8 labs vs DIGP 1. Vegas is a good market for now though. California is going to be huge in next year thats why i got into DIGP, but seems theyre not moving fast like EVIO has been
EVIO mentioned as undervalued:
https://technical420.com/cannabis-article/11-cannabis-stocks-had-significant-moves-february
50% growth is great, especially given how testing has probably stopped until this oversupply problem is balanced out:
https://mjbizdaily.com/decimated-oversupply-oregons-wholesale-marijuana-prices-drop-50-pound/
If OR growers are hurting, so are the labs. There will be a shakeout. I think EVIO will survive it- and thrive.
California is just getting started.
Wow. That’s a story to be shared. Glad you got through that sailor
Agree 100%. If I read PR with no substance or full of hype, makes me think the company is trying to hide something
The numbers will tell the story. Eventually reputable analysts will see this and tell a broader audience
I’d like to see EVIO in more featured articles though. I read MJ Biz Daily as do lots of others. They must know about EVIO huh? And what about Time, Newsweek, fortune. They all run mj features.
Where did the “79” number come from? Could it have been a smaller handful of $400k investors like that co announced?
I’m optimistic because I guess investors of this nature - whether $50k or $1mm are not looking to make a quick flip. I’m no expert but I’m guessing the qualified investors here are the type that do their research and want to help a company grow. They’re looking for the big gains. And wouldn’t risk getting out too soon and missing a bunch of upside on the backend when US goes legal.
EVIO could do good things with this investment. It’s what 2-3 times what Steep Hill recently raised?
While DIG* is down for the count, and who knows how they’ll be able to expand now with this blemish on their record.
soon we will start hearing about the product shortages in CA dispensaries because there are not enough labs yet. EVIO needs to hurry up and get in front of that. With this $$ now they can.
Thank you- that’s helpful for my research. I imagine growing in SA is probably cheap...
$200MM Market cap?? Hmm. . . perhaps I posted too soon.
3,000 kilo pure CBD might fetch $10 mil in revenue, if the price holds up. With so many players in the market, give me a reason to buy this beyond pure speculation.
This is an intriguing story, how real is it? Back in August they announced that they were about to harvest hemp, and have CO2 extraction running by April. Today's announcement of a contract (with $150k down) is nice - but what is the status of their facilities?
How much did they harvest this past fall?
Watching closely, but a contract for some future production of material that hasn't been produced yet is a bit speculative for my taste.
Unless someone knows something I don't. . .
I'm extremely bullish on CBD. It is also getting to be a crowded space. . .
Where can I find fundamental analysis of MJ Stocks?
I'm very interested in reviewing summaries of basic ratios, is there a place I can find them? For instance, Been looking at some very basic fundamentals of Price / Sales ratio - US MJ stocks like Kush bottles, mcig and Marimed around 20, while EVIO is at 9 at the moment. That said, other ancillary companies are as low as 5, but those companies aren't growing. The canadian companies are going nuts, with ratios over 200, which I just don't get.
Very interested in finding a site or board where relative P/S, P/E ratios, revenue growth, etc. is published (so I don't have to) ? Also interested at looking at gross margin trends, and SG&A expenses.
WDHR hasn't reported financials in years. Are they doing anything? I bought some before the crash and never bothered to sell it. Would be nice to get some $ back, but I don't know if they're even alive. Any insight?
I shed some as well, around 5k remaining.
Looking back at PRs DIGP has been “on the way to ISO 17025” accreditation for some time, but not there yet. The other guys i think got all their labs accredited during the past year.
NV should make this kind of third party accreditation a requirement, and get the state regulators out of the business of doing random spot checks for this sort of thing. With ISO, labs have very clear guidance on how to stay compliant, and minor “findings” don’t result in a shutdown without some opportunity to correct problems first.
I got out. I’ll come back after a while when they get reinstated. Perhaps this will be offset by EV*O where I have a larger position. They have multiple labs so less concentration of risk.
What a bummer. I feel bad for those guys, I’ve met some of the staff. Nice people.
Damn. That's a big deal. Please post source.
Other labs got suspended in NV too, but were reinstated after they fixed some issues. Nevada should put in third party accreditation requirements, like in other states.
Might have to move more of my position to the other pubco lab. If they're down for a month, they have just one lab - it will hurt. Come back later.
I like the momentum. . .
http://eviolabs.com/investors/company-news/
EVIO exec comp went DOWN in 2017 compared to 16. CEO went from $60k to $40k, COO went from $11k to $0, and the CFO got $11k and a little stock. None of them sold any shares from what I can tell.
I have the opposite concern. I'd like to see the execs get paid something so they have some incentives to keep going - and reduce the chance that they will sell shares.
Are you looking at the same stock?
Can you clarify what you mean by “pays itself well?” Exec comp is minuscule here.
Nice article. Evio is mentioned towards the end. “EVIO is currently opening a location in Costa Mesa and eyeing a number of others in the Inland Empire, the Emerald Triangle, the Bay Area, and the Sacramento Valley. Glauser opened their first seven labs in a year and a half. “We’ve got the system down,” she said.”
Can anyone put that in plain english please? Can it be monetized?
I'm shopping around for another MJ stock, so checking this out first time.
Compared to my other MJ holdings, the market cap is high, (EV*O has about the same rev and $17 mil mkt cap) and revenue has been uneven historically.
Although fundamentally, they seem to have a good model for the CA ride. Where are these guys headed? What's the guess on 12/31 numbers?
Anyone got highlights of the con call?
Exactly.
“Real IR firms” cost $20k per month or more. And it can backfire, as they are perceived as a pumper.
Better to invest that in labs, scientists, equipment, and getting profitable.
Soon real analysts will do their DD and see real P/S ratios (and soon P/Es?) that blow away others in this space.
Whenever I see paid promotions I run like hell. That’s why I like EVIO. fundamentals and integrity. They will be featured on covers of the MJ mags soon enough. And for free. Numbers don’t lie.
Im happy to keep accumulating down here, and know I’m not investing in an overhyped POS that will crash at any moment.
Why are people buying this dead company? It was shut down 2 years ago. Go Go put your money in a real operating chain of labs. There is a better option
Thanks for the summary scripto. That’s a sticky
Any details of DIGP expansion into CA? The state needs Labs. Nothing harvested after Jan 1 can get sold without testing. Curious how they will compete with EVIO Who seems to be moving much faster,
Great article thank you! EVIO did a lot this year, and next year will be huge.
Not surprised the audit will take a while.
I did some auditing back in the day. Verifying everything is ok even without a merger takes time. auditing books when M&A happened during the year is way more complex. Add to that the reverse split and many share transactions and who knows what kind of consolidated financial system they have. Auditors have to go into the books of every subsidiary. If those systems are different it is a huge pain to standardize everything especially in the first year post merger.
I never had to audit a company that was so new, growing so fast or worked in an illegal space before, I’d guess the audit firm would be extra diligent, especially if the client was buying small private companies that had few controls in place.
I think their new auditors are better than the guys they used last year, so I’m hopeful this will get released soon. I won’t hold a late filing against them. Actually I’ll be glad to pick up some more shares if a delay causes a pullback. Don’t think we will see many more sub $1 after this K.
Yes. All cannabis manufactured or produced after Jan 1 in CA must be tested. Medical and adult use. And all of it between licensed distributors and the labs.
i don’t think anyone, including the state itself, has any idea what’s coming.
EVIO needs a lot more capital ASAP. California needs them!
ALL weed in CA is going to be tested Jan 1. Last report I saw was 5% of CA weed is being tested.
EVIO is the ONLY pubco lab operating in CA. With labs in Yuba City, Berkeley, Costa Mesa - Where is everyone?
First profitable public cannabis company? That would be huge!
And what other public canna co’s are doing a national US rollout?
license fee tiers for labs go up to $500 million revenue +. (Page 15 of the rules). Looks like the state anticipates some big labs coming in ...
I agree. As a long investor, I don’t like to invest in cultivation because plants, even the most expensive, hardest to grow orchids and square Japanese watermelons, don’t cost $2,000 per pound wholesale. Weed is, by definition, relatively easy to grow. And extracts can be made in huge volume from less expensive outdoor grown crops in milder climates. So I think Canadian cultivation is a short term play Now if EVIO could test all that weed, that would be interesting...
Thus Canadian funding sources. I think Sessions is driving the Canadian cannabis markets through the roof.