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LOSS PER SHARE
The Company computes loss per share of common shares and PVS under the two-class method required for multiple classes of common shares and participating securities. The rights, including the liquidation and dividend rights, of the two classes of shares are similar except for the 400:1 conversion ratio between the common shares and PVS shares. Accordingly, the loss per share attributable to common shareholders will be the same for common shares and PVS, on either an individual or combined basis. Basic net loss per common share and proportionate voting share is computed by dividing the allocated net loss and comprehensive loss by the weighted-average number of common shares outstanding and weighted average number of proportionate voting shares outstanding during the period. Diluted loss per common share is computed by dividing the allocated net loss and comprehensive loss by the weighted-average number of common shares together with the number of additional common shares that would have been outstanding if all potentially dilutive common shares had been issued, unless anti-dilutive. Diluted loss per proportionate voting share is computed by dividing the allocated net loss and comprehensive loss by the weighted-average number of proportionate voting shares outstanding during the period.
The following table sets forth the computation of basic and dilutive net loss per share attributable to common shareholders:
Loss per common share (0.98)
This is different than the one they listed elsewhere. This is from the 10k.
Well today we find out how the company did. For me it will start with the press release which set’s the trend of thought, next will come the CC which will provide added thought. But the big thing for me is the filing. That’s where is all comes together for me. This year I have 2 specific areas that I want to see exactly what transpired. Looking forward to it.
Still working away on that CW 10k. Some interesting numbers in there.
The accumulated deficit is now 188million
Total shareholder equity was cut almost in half, now 130million
Total current assets has dropped to 95 million
But I still have to work to do with those 37 million shares of dilution. The dollar figure itself is a lot higher. But what I’m missing is where did all the money go.
I’m guessing everybody already knows that the company reported 137 million in losses.
I still find 97 million in SG&A , or the cost of running the business very high, need more work on that to fully understand why.
Anyway just a quick update.
I agree, the turn a round on this is a work in progress, and it appears it going to be a lot of work. Going to the NAS was a, at this point, a mistake.
The numbers that I find important are gross profit up 180 million y/y however a drop in margin from 74 to 60 percent.
Operating expenses went up 201 million y/y
Net income dropped from 63 mil down 71 percent to 18 mil.
Diluted Shares 28million.
EPS dropped 77 percent from .53 to .12 y/y
I guess growing pains but I was hoping for better numbers.
Yes, the legalization, I’ll call it delay, has caused an awkward problem. Everybody in this field was gearing up for it, money was spent to take advantage, yet here we are as you say waiting. Now the competition factor, and timing factor has altered the original look of what could have been.
Good morning, Wolfman. CW biggest issue is they have put themselves in a trap that they can’t, currently, get out of. Meaning over the last couple of years their sales are stagnate and throwing out the goodwill issue they are still losing roughly 1 million a week running their business. The cost of running the business is still way too high, yet their growth is dead in the water. And that is a problem. If they are as they proclaim the biggest and the best, and they are still losing money, can’t turn a profit and having a failing business plan then how would a casual observer view the CBD field in general?
Running their company by diluting their shares is not a sound business plan.
Kind of a mixed bag in there. I'll have a better idea once the filings are gone thru.
So, how that theory work for CW? 137million loss. WOW !!!
Say I was going to ask you how that bubble worked out for you?
I don't know, I do think a person could trade or short this one in a quicker in and out type of method. We'll have to see where this one is at by the end of summer.
I think the MMs are working it today, only 27,000 spent up 4 percent. there going to have to work their own holdings out. IMO
I think that is correct, they won't have the votes in the Senate. However SAFE banking is a another issue that may get thru. We'll see.
Alright ap 17. Credit where credit is due. I do think either they will have to shovel faster or add more people. Maybe a conveyor belt would be helpful.
So, if I’m reading this correctly, you’re stating that this full-ratchet" provision definitely occurred and it is “equivalent to approximately 5 MILLION SHARES”. Looking forward to the new filings coming out regarding your statement on this “full-ratchet" provision” you state.
Well does this dilution seem excessive? See below. Now I do understand this is a OTC company.
Recent Sales of Unregistered Securities
The following information represents securities sold by the Company during the year ended December 31, 2021 which were not registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act"). Included are new issues, securities issued in exchange for property, services or other securities, securities issued upon conversion from the Company’s other share classes and new securities resulting from the modification of outstanding securities. The Company sold all of the securities listed below pursuant to the exemption from registration provided by Section 4(a)(2) of the U.S. Securities Act, or Regulation D or Regulation S promulgated thereunder.
Common Shares
•On January 15, 2021, the Company issued 730 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On January 20, 2021, the Company issued 638,052 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On January 20, 2021, the Company issued 302,047 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On January 27, 2021, the Company issued 77,972 Common Shares at a price per share of $4.42 for total aggregate consideration of $344,636 upon the exercise of warrants.
•On January 27, 2021, the Company issued 20,816 Common Shares at a price per share of $4.42 for total aggregate consideration of $92,007 upon the exercise of warrants.
•On February 11, 2021, the Company issued 169,046 Common Shares as consideration for the acquisition of Harmony Hemp.
•On February 15, 2021, the Company issued 400,000 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On February 15, 2021, the Company issued 731 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On March 3, 2021, the Company issued 219,645 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On March 8, 2021, the Company issued 14,000 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On March 15, 2021, the Company issued 789 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On March 17, 2021, the Company issued 8,261 Common Shares at a price per share of $3.64 for total aggregate consideration of $30,070 upon the exercise of stock options.
•On March 29, 2021, the Company issued 10,666 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On March 31, 2021, the Company issued 39,538 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On April 1, 2021, the Company issued 4,104 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On April 5, 2021, the Company issued 15,656 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On April 7, 2021, the Company issued 136 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On April 9, 2021, the Company issued 380,900 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On April 20, 2021, the Company issued 789 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On April 29, 2021, the Company issued 14,054 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On May 19, 2021, the Company issued 790 Common Shares upon the vesting of RSU
•On June 4, 2021, the Company issued 150,000 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On June 9, 2021, the Company issued 29,200 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$163,397 was received by the Company.
•On June 10, 2021, the Company issued 44,500 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$249,271 was received by the Company.
•On June 11, 2021, the Company issued 148,300 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$839,823 was received by the Company.
•On June 14, 2021, the Company issued 5,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$28,000 was received by the Company.
•On June 15, 2021, the Company issued 3,300 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$17,815 was received by the Company.
•On June 16, 2021, the Company issued 40,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$215,239 was received by the Company.
•On June 17, 2021, the Company issued 3,100 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$16,436 was received by the Company.
•On June 18, 2021, the Company issued 4,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$22,880 was received by the Company.
•On June 18, 2021, the Company issued 790 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On July 12, 2021, the Company issued 923 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On July 20, 2021, the Company issued 790 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On July 26, 2021, the Company issued 8,579,967 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On July 30, 2021, the Company issued 4,401,575 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On August 4, 2021, the Company issued 3,364 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On August 9, 2021, the Company issued 201,600 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On August 12, 2021, the Company issued 169,045 Common Shares as consideration for the acquisition of Harmony Hemp.
•On August 17, 2021, the Company issued 150,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$616,290 was received by the Company.
•On August 18, 2021, the Company issued 790 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On August 24, 2021, the Company issued 105,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$358,187 was received by the Company.
•On August 25, 2021, the Company issued 106,500 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$360,833 was received by the Company.
•On August 25, 2021, the Company issued 2,139,408 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On August 26, 2021, the Company issued 143,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$487,345 was received by the Company.
•On August 27, 2021, the Company issued 53,700 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$180,491 was received by the Company.
•On August 30, 2021, the Company issued 100 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$335 was received by the Company.
•On September 9, 2021, the Company issued 97,207 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On September 29, 2021, the Company issued 80,800 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$212,342 was received by the Company.
•On October 1, 2021, the Company issued 89,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$227,893 was received by the Company.
•On October 4, 2021, the Company issued 11,500 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$28,850 was received by the Company.
•On October 5, 2021, the Company issued 1,546 Common Shares upon the vesting of RSUs. No consideration was received by the Company for the issuance.
•On October 7, 2021, the Company issued 69,900 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$156,891 was received by the Company.
•On October 8, 2021, the Company issued 1,859,306 Common Shares upon the conversion of Proportionate Voting Shares. No consideration was received by the Company for the issuance.
•On October 8, 2021, the Company issued 63,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$138,142 was received by the Company.
•On October 12, 2021, the Company issued 128,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$335,424 was received by the Company.
•On October 13, 2021, the Company issued 101,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$255,217 was received by the Company.
•On October 14, 2021, the Company issued 46,600 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$114,063 was received by the Company.
•On October 15, 2021, the Company issued 38,500 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$93,994 was received by the Company.
•On October 18, 2021, the Company issued 40,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$97,636 was received by the Company.
•On October 19, 2021, the Company issued 42,200 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$97,891 was received by the Company.
•On October 20, 2021, the Company issued 40,100 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$90,626 was received by the Company.
•On October 21, 2021, the Company issued 91,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$215,777 was received by the Company.
•On October 22, 2021, the Company issued 70,600 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$168,911 was received by the Company.
•On October 25, 2021, the Company issued 33,900 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$82,238 was received by the Company.
•On October 26, 2021, the Company issued 56,100 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$129,759 was received by the Company.
•On October 27, 2021, the Company issued 47,900 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$108,589 was received by the Company.
•On October 28, 2021, the Company issued 25,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$55,838 was received by the Company.
•On October 29, 2021, the Company issued 77,600 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$168,586 was received by the Company.
•On November 1, 2021, the Company issued 46,300 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$97,230 was received by the Company.
•On November 2, 2021, the Company issued 57,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$118,433 was received by the Company.
•On November 3, 2021 the Company issued 82,200 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$172,415 was received by the Company.
•On November 3, 2021 the Company issued 13,026,454 Common Shares upon conversion of all outstanding Proportionate Shares as of such date. No consideration was received by the Company for the issuance.
•On November 4, 2021 the Company issued 60,600 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$122,406 was received by the Company.
•On November 5, 2021 the Company issued 68,900 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$135,554 was received by the Company.
•On November 8, 2021 the Company issued 66,500 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$128,924 was received by the Company.
•On November 9, 2021 the Company issued 75,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$144,360 was received by the Company.
•On November 22, 2021 the Company issued 130,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$257,240 was received by the Company.
•On November 23, 2021 the Company issued 96,100 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$183,532 was received by the Company.
•On November 24, 2021 the Company issued 113,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$208,316 was received by the Company.
•On November 25, 2021 the Company issued 127,900 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$234,850 was received by the Company.
•On November 26, 2021 the Company issued 81,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$152,094 was received by the Company.
•On November 29, 2021 the Company issued 32,200 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$58,411 was received by the Company.
•On November 30, 2021 the Company issued 99,800 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$176,317 was received by the Company.
•On December 1, 2021 the Company issued 53,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$91,807 was received by the Company.
•On December 2, 2021 the Company issued 124,600 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$203,684 was received by the Company.
•On December 3, 2021 the Company issued 69,100 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$112,868 was received by the Company.
•On December 6, 2021 the Company issued 53,800 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$87,925 was received by the Company.
•On December 7, 2021 the Company issued 84,300 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$133,152 was received by the Company.
•On December 8, 2021 the Company issued 143,200 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$225,425 was received by the Company.
•On December 9, 2021 the Company issued 150,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$242,970 was received by the Company.
•On December 10, 2021 the Company issued 131,300 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$213,021 was received by the Company.
•On December 13, 2021 the Company issued 136,900 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$215,727 was received by the Company.
•On December 21, 2021, the Company issued 77,700 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$116,534.46 was received by the Company.
•On December 22, 2021, the Company issued 52,900 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$76,150 was received by the Company.
•On December 23, 2021, the Company issued 64,300 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$92,965 was received by the Company.
•On December 24, 2021, the Company issued 4,000 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$6,042 was received by the Company.
•On December 29, 2021, the Company issued 137,300 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$188,334 was received by the Company.
•On December 30, 2021, the Company issued 145,400 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$199,285 was received by the Company.
•On December 31, 2021, the Company issued 94,100 Common Shares pursuant to the ATM Program. Total aggregate consideration of C$123,008 was received by the Company.
Adrienne “Deanie” Elsner joined the Company as President and Chief Executive Officer effective May 15, 2019. In Dec 16 2021 they had to let her go. Be sure to give her a hardy cheer for her guidance. During that time frame the stock price went from roughly 24 to 1 under her watch.
Well, the good news. The company share price didn’t drop overnight. Need to wait till the market opens for that.
Market cap is listed at 164 mil this morning. Which is still higher than the 137mil in losses they just reported for 2021.
Last year they reported 97mil SG&A. The bad news is they only sold 96 mil in product, not counting the 47 mil for the product itself.
In-between they managed to add 37 million shares in dilution. More on that later.
IMO this is NOT healthy numbers. We could mention growth rates or profitability, but they need some to measure first.
You know with a share price of 1.13 and you lose .86 for 2021, it’s becomes very difficult to spin this to anything positive. IMO
Your right of course. CV is setting up for what will be:
Founded in 1997, Alkemist Labs has been the ideal “Quality Partner” for companies interested in manufacturing high quality natural products that require independent third-party analysis, stability / shelf life studies, certification certifications and cGMP compliance. alkemist.com
But IMO you don’t want to make any ref. to cw. That is a disaster of a company, just look at their last press release. 137million in losses and a lost per share of .86. Seems like just a short time ago they were happy in losing just 50 mil a year. They’ve upped their game going to 137. The only thing consistence is their losses. They’re giving the rest of the CBD arena a bad rep.IMO. Best to separate from that look of failure and massive losses to focus on how to properly build a company. It involves hard work, not make believe.Again IMO.
BTW that cartoon you posted, you need more shovelers
Question from an Analyst on the CC
So, if you could provide any color in terms of how your revenues are trending in 1Q relative to the 24.8 that Charlotte's did in 4Q, that would be helpful, and then maybe some commentary just by channel, DTC versus B2B. Thank you.
The main points of the answer is :
“Yeah. I am going to let Wes answer that question. But keep in mind, the seasonality is our fourth quarter is typically stronger than our first quarter.”
And “At this point, I can't give you any more color on where Q1 where we think Q1 is going to land, but we will have more data on that here soon in the May earnings call.”
So, their guidance is what then, nope, we can’t provide any and the 4th qt is stronger than the 1st.
So you get guidance when they report in May, not much need for guidance then.
That was a very poor answer for an analyst question when there is only 6 days left in this qt. You got to believe they know, so.
A few things worth mentioning.
The act. “The bill—sponsored by Sens. Dianne Feinstein (D-CA), Brian Schatz (D-HI) and Chuck Grassley (R-IA)—is titled the Cannabidiol and Marihuana Research Expansion Act. It cleared the full chamber unanimously, without debate”
The reason “It would streamline the application process for researchers who want to study the plant and to encourage the Food and Drug Administration (FDA) to develop cannabis-derived medicines.”
The report “It would also clarify that physicians are allowed to discuss the risks and benefits of marijuana with patients and require the U.S. Department of Health and Human Services (HHS) to submit a report on those potential health benefits, as well one on barriers to cannabis research and how to overcome those obstacles.”
And the hook “. “This important legislation will cut the red-tape around the research process, helping get FDA-approved, marijuana-derived medications safely to patients.”
My questions on this,
1 When will the funding start for this.
2 How long will this report take
3 Is big pharma the driver “the Food and Drug Administration (FDA) to develop cannabis-derived medicines”
4 Will this delay the federal legalization effort because the study is not complete.
Will have to see.
Go back and reread YOUR post that also highlighted the thoughts of the time.
Well I hope when I pointed the changes from the SEC filings last Jan. you understood all this was going to happen. You did claim you read it then. But no matter, over 100 million down the drain, I'm thinking the shareholders may not be too happy. Also will be interesting to see the price action on this one over the next week or two.
I think the SEC filings should be very interesting. That's where the detail is at.
Ahh, 2020 4th qt vs 2021 4th qt. Didn’t qualify that as 4th qt.
Revenue 4th qt 2021 24.8--- vs 26.9 in 2020
With that amount of dilution { 37 million shares}mixed with a 118 million in losses to boot, they may have a hard time spinning this one.
Y over Y sales decreased, cash decreased, expenses however increased.
Again, and fortunately they were able to add 37 million more shares to cushion the fall. Without that DILUTION they would have been in real trouble, I think.
Got to take care of the Stanley brothers, should be noted CW pays All the brothers somewhere around 1.5 million per year, calls them ambassadors. Yep, that is correct.
Total cash use for 2021 was $33.3 million of which approximately $22 million was non-recurring payments including an $8 million strategic purchase option for Stanley Brothers USA Holdings, Inc.'s cannabis business.
Now here it’s stated 137 million in losses.
“2021 Operations
Gross profit was $48.6M, or 50.6% of consolidated revenue, with gross profit excluding inventory provisions of $58.3 million, or 60.7% of consolidated revenue. A twelve-month net loss of $137.7 million for 2021 included $107.7 million of non-cash impairments in goodwill, customer relationships, trade names, inventory provisions, and other long-lived assets, compared to a net loss of $30.7 million in 2020.
I guess again will need the SEC filing to iron some of this out.
--Full Year 2021 U.S. GAAP Results Include Record Revenue of $460 Million and Record Adjusted EBITDA of $58 Million (Non-GAAP Measure)
--Record Quarterly Revenue of $139 Million, an Increase of 70% YoY, 5% Sequentially
--Full Year 2021 Combined Revenue of $474 Million and Combined Adjusted EBITDA of $85 Million; Both Company Records and In-Line with Previously Communicated IFRS Guidance
--Company Issues 2022 Guidance of $625M - $675M Revenue, $120M - $135M Adjusted EBITDA, in U.S. GAAP
Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) ("Columbia Care" or the "Company") today reported financial and operating results for the fourth quarter ended December 31, 2021. All financial information presented in this release is in U.S. GAAP and in thousands of U.S. dollars, unless otherwise noted, and comparisons to prior quarter and prior year are made on an as-converted basis under U.S. GAAP, unless otherwise noted.
"We are pleased to report record results for the full year and fourth quarter of 2021, in what was a truly transformational year for Columbia Care," said Nicholas Vita, CEO of Columbia Care. "In 2021, organic growth across our diversified portfolio and the integration of several major acquisitions drove full year revenue increase of 156% over the prior year. As we build scale and operationalize new markets, Adjusted EBITDA (non-GAAP measure) has improved 220% over fourth quarter 2020. We have also evolved as a company through our launch of the Cannabist retail experience and our own suite of product brands. Innovative technologies like Forage allow us to engage with and understand our patients and consumers better than ever before."
Vita continued, "As we look ahead to the remainder of 2022, there are remarkable catalysts on the horizon, including adult use sales in New Jersey and growth in the medical programs in New York and Virginia. We will continue to roll out our award-winning Cannabist retail experience as we open new locations and will bring our house of brands to our strategic national footprint throughout 2022, providing consistent quality that patients and consumers demand. We've made tremendous operational improvements that are driving efficiencies in new and maturing markets. I am confident that our team will continue to demonstrate our successful strategies as we execute in 2022 and beyond."
Looks like you got it right Wolfman - Common shares, nil par value; unlimited shares authorized as of December 31, 2021 and 2020, respectively; 144,659,964 and 107,060,237 shares issued and outstanding as of December 31, 2021 and 2020
37million shares added WOW!!!
Wow, net loss of .86 cents a share. Net loss of $118 million dollars. Still need the SEC filings. If they lost 118 million, geez what's the company worth 175. Well was worth , give it a little time. Does this mean they are no longer building?
https://finance.yahoo.com/news/charlottes-reports-2021-fourth-quarter-103000499.html
I suppose I should have included the elephant in the room. How are the main markets going to fair? This decade will not be like the last. IMO, it’s going to take a lot more work to get it right.
At the end of the day, it will depend on how the sector does. The FED could lend a helping hand, SAFE banking would be helpful. But that story has not been written yet. There will be more mergers, and depending on who it could be, really shake up the landscape.
Well, your expectations maybe off. It’s a merger not a buyout. But it will be easy to follow as somewhere around NOV. is when it will occur. If at that point if Cresco is at, say 10 a share it’s good, on the other hand if there at 4, not so good. We’ll see.
Thanks for taking the time to present the correct numbers. It helps having the facts, you understand.
Cannabis Mega-Merger: Cresco Is Buying Columbia Care -- Barrons.com
Today 7:30 AM ET (Dow Jones)Print
By Sabrina Escobar
Cresco Labs reached an agreement to acquire Columbia Care, a fellow Canadian marijuana company, for $2 billion.
The merger is expected to create one of the largest U.S. multistate cannabis operators based on pro forma revenue, with more than 130 retail stores across 18 markets, the companies said on Wednesday.
"The combination is highly complementary and provides unmatched scale, depth, diversification and long-term growth," said Charles Bachtell, CEO of Cresco Labs (ticker: CRLBF).
Columbia Care shareholders will receive 0.5579 of a subordinate voting share of Cresco Labs for each Columbia Care common share they own. The price is a premium of about 16% based on Columbia Care's closing price as of March 22. At the transaction's close, Columbia Care will hold about 35% of the pro forma Cresco Labs shares.
The deal is expected to close in the fourth quarter.
The companies hope to have annual revenue in excess of $100 million in eight different states by 2023 as the combined company diversifies its revenue base and expands to other markets. Currently, they have leading positions in four top markets -- Illinois, Pennsylvania, Colorado, and Virginia -- and plan to keep expanding in other states.
Shares of Cresco Labs (ticker: CRLBF) were down 0.5% to $6.50 in premarket trading on Tuesday. Columbia Care was up 1.6% to $3.12.
You know you are NOT really hitting the nail on the head here. A little over a year ago CW was at 7 dollars a share. Now a buck. What do you think was the reason for that 6 dollar drop.
With all the numbers you post don’t you think everybody would be interested in that 7 to 1 drop?
Also still waiting on your thoughts on all those qt after qt losses.