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Cash On Hand as of 12/31/2019 $1,241,747.00
Cash On Hand as of 12/31/2020 $3,973,634.00
That's an INCREASE of 220% year over year.........NOT a decrease at all.
Truth
Total Liabilities were REDUCED by $1,400,000.00 Year Over Year.
Total Assets INCREASED by $5,000,000.00 Year Over Year
From the Consolidated Financial Statement just released, the Cash On Hand as of 12/31/2020 is $3,973,634.00 Fact.
"At December 31, 2020, the Company had an accumulated deficit of $15,950,090"
Wow. Almost sixteen million dollars. That's a lot of money. Oh wait, that's about the amount of money required to start a California based Cannabis company, to acquire land, build a facility, equip that facility, obtain licensing, hire staff, get listed on an exchange and incur all the costs associated with starting such a business from the ground-up. In that case, it isn't such a large number after all............in fact, they have accomplished an astonishing amount while having spent only a fraction of what others have spent in starting their cannabis endeavors.
"and the Company had historically incurred losses."
And "history" changed 12 months ago when they turned profitable......and have remained profitable for the past twelve consecutive months.
"The Company’s continuing operations are dependent upon its ability to raise capital and generate cash flows from operations."
The same thing is true of every single company in existence anywhere on the planet. What a nonsensical statement. EVERY company's continued operations is dependent upon their ability to sell the stuff they make.
Always good for a laugh.
Bankruptcy...................Yes, of course they will. Record earnings, record sales and record profits always leads to bankruptcy.
I suspect he is actively looking. I also suspect that getting Facility B started is taking a lot of his time right now.
Personally I would have made a Press Release which said:
"Earned Revenues Increase 4,300% Year over Year"
Make it easy for the reader. Do the math for them. It's a much grabbier headline.
My personal opinion is that we will still fly mostly under the radar until Facility 'B' is up and running. But yes, it is a phenomenal Y/E report and an even better Q1/2021 result.
This stock should be treated far better than it has been by the investing community. Instead, investors continue to buy the household names (CGC, ACB) and keep their prices propped-up even though they are losing many, many millions of dollars.
And Q1/2021 preliminary results of a heart-stopping $2,841,983.00 Adjusted EBITDA! Up from $2,305,651.00 in Q4/2020.
Next Green Wave Announces Financial Results, Provides Dispensary Update
Vancouver, B.C. — May 3, 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 operational and financial updates:
Dispensary Updates
The Company now has placed multiple product lines in approximately 75 dispensaries throughout California, ranging from Sacramento to Palm Springs to San Diego. The dispensary count will continue to grow throughout the year and does not include the several COOKIES dispensaries, which are expected to have Company products later in 2021.
Financial Updates
The Company has released its audited financial statements for the 12 month period ending December 31, 2020 which can now be found on SEDAR.
The Q1 2021 financial statements will be released on or around May 31, 2021, however, key metrics for the last five quarters are reported below.
Operational Updates
In April 2021, the Company secured all conditional use permits from the City of Coalinga (as previously announced on April 6, 2021) allowing it to move forward with obtaining the building permit for its 50,000 sq. ft. premium indoor cultivation facility (“Facility B”) that’s located adjacent to its current cultivation facility.
The updated construction timeline for Facility B is as follows:
• Engineering and architectural designs fully complete in Q2 2021.
• Building permits obtained in Q2 2021.
• Construction commencing in Q3 2021.
• Certificate of Occupancy obtained in Q1 2022.
“After a transformational 2020, our team’s focus for 2021 is threefold: expanding production capacity, continuing to improve operationally and hitting our financial targets. Our 50,000 square foot expansion project is on schedule, and when operational, will increase our total annual output to approximately 20,000 pounds of premium indoor flower. As previously stated, construction is set to begin in the next few months. Regarding operational improvements, as a multi-generational cultivator, I am extremely proud of the supporting data acknowledging our continually improving cultivation techniques and resulting yields. Our audited financials show we have increased our per plant yields by 22% from 2019 to 2020, and we are currently producing approximately 600 pounds of premium flower per month. Finally, after a record Q1 2021 for NGW financially, we are on pace to hit our annual targets and will give everything we have over the next three quarters stay on that pace. This is just the beginning!”
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
EastCoastDude has posted an excellent, in-depth analysis of Y/E Financials over on Stocktwits. Grateful for his learned insight and clear presentation. Give them a read.
Personally, I doubt any acquisition would come to fruition before construction is started on Facility B. And for the record, I have never been a fan of combining different news announcements into a single Press Release. In my mind, every bit of news ought to be exploited for all it's worth......individually and on it's own. Keep the company name in the news. But having said that, Mike has stated previously that the company is actively looking for existing space which could be had far cheaper than ground-up construction...........and which would virtually be a "plug and play" scenario. Another advantage would be that it would expand NGW's footprint in California beyond Coalinga.
As for NGW moving to a different exchange, I'm not sure how that would / could happen given their current PPS. It will happen eventually for sure but I don't see it happening this year.
Those numbers are truly mind blowing when compared to 2019. What an amazing year the company had.
The “Green” in Next Green Wave will soon be the Waves of Green (USA) Money it is generating for investors. I am already up more than three-fold over my initial investment...........and trust me............I’ve invested a boat-load. But like many of you, I’m not intending to stop here. I add to my position almost every week.
Irish: Personally I don’t consider NGW to be a start-up any longer. They’ve been harvesting every 10 days for 21 consecutive months now. The training wheels are off and they are turning heads industry-wide. They are strapping on their Big-Boy pants and are expanding already.
We should never be surprised if seemingly out of the blue, Mike announces the acquisition of an existing facility which would give the company a presence outside of Coalinga.
Mighty Oaks grow from tiny Acorns. Or maybe an even better analogy would be the incredible Sequoias (Redwoods) which populate much of Coastal California and portions of the Sierra Nevada Mountains. Their seed is tiny, tiny, tiny. Smaller than a grain of rice actually. But they become the most impressive tress known to man. More than 300’ tall and trunks more than 20’ in diameter. It doesn’t happen over night, but it does happen. NGW has the DNA to do the same thing.
What an impressive story they have to tell. I really wish I was a part of their team, because I’d LOVE to tell that story for them.
No, they have not yet broken ground on Facility B. They do have a General Contractor selected and design is nearing completion. Construction is scheduled to start during Q2/2021..............AKA, really soon!
All necessary City approvals have been obtained (CUP) and I’m not sure whether plans have been submitted for Building Permit issuance.
I’m hoping Mike offers an update during earnings release or subsequent CC.
Low volume again today.........but the good news is that it appears that the desperation sellers are gone for now.
Good financials are coming on Monday.
Good man, dob. Wise move me thinks.
It's nice to see the old girl showing some backbone today.
Looking stronger as the day goes on. Now all we need is some volume and a strong close!
Consumers have indeed noticed NGW's quality. That is precisely why their products are consistently sold out weeks in advance. It's a great problem to have........but it's still a problem. The only remedy is expansion which is in the pipeline and should commence during Q2/2021 (otherwise know as really soon).
I also think the industry as a whole is taking notice as well. You simply can't turn out such astonishingly high THC numbers without competitors (AKA "The Industry") taking notice. That is why I continue to maintain that NGW is rapidly becoming the standard by which every other cannabis company is compared.
What we do need is for the investing community to take notice, and not just those who would flip shares for a few cents profit, but more sophisticated investors who see the value in holding for a couple of years and ride this to heart-stopping new heights.
From an Instagram post by NGW, speaking of recent third-party testing of their products.
"From Full Spectrum Vape and Connoisseur Flower to Full Spectrum Gummies and Concentrates, everything that comes out of our facility is third party lab tested through one of the largest and most reputable testing labs in California. Some of our recent results have been among some of the highest numbers they have seen."
Within the Niche in which NGW operates, quality is paramount. Consistently producing the finest cannabis products available anywhere.
NGW is rapidly becoming the Gold-Standard within the industry.
In theory, yes.
The original poster is correct in that yes, we are all already aware of what the financials will show, but many others, especially new investors, are not.
I would hope that NGW makes a big hoopla about the earnings release and does a bang-up job on the CC.
This thing needs to be trading 2 - 3 million shares per day. Demand for shares needs to outstrip the supply of what's being offered. Continued good news ought to accomplish that.
It will do one of three things, Bridgette.
1. It will go higher.
2. It will go lower.
3. It will trade sideways.
The question is, Which one will it do?
In the short term, nobody knows. In the long term however, over the next couple of years, every indicator is that it will trade much, much higher.
But tomorrow? We shall see.
Over the past two years I too have been frustrated at times with my perceived lack of information coming out of Coalinga. For me, what I have found useful, is when I grow concerned with "all the stuff I don't know", I revert to all the stuff I DO know.
* I know the company is insanely profitable.
* I know they have embarked on a measured, well thought out growth strategy.
* I know they are in the most lucrative niche within the sector.
* I know they continue to develop secondary income streams.
* I know they are in the largest State economy in the country.
Yup. Today's action is simply unwarranted. It is likely one or two sellers wanting to move their money elsewhere.
Fundamentals, fundamentals, fundamentals. Fundamentals are rock solid.
I was able to add 10,000 and have another limit order in for another 10,000.
Last year the Year-End Financials were released on April 29th. Hopefully we will see them for the Y/E 2020 on Thursday.
Yup. We just need some volume to stave-off this repeated afternoon slide we've seen toward the end of the trading session.
Not sure earnings will be enough to generate sufficient interest to get us back to a million shares a day.
Hopefully Mike will also announce an updated schedule for Facility B when earnings are released.
For the foreseeable future, I agree.
NGW is obviously doing something right. In the entire sector, there is a relative handful which are profitable. Even though their indoor grow technics are vastly more expensive than is an outdoor grow, they produce the finest quality cannabis products available anywhere, at any price. They are rapidly becoming the standard by which every other grower is compared. And for that they can charge a premium. In spite of that premium, they are consistently sold out weeks in advance.
There is no glut in premium cannabis products in California. The same cannot be said for low quality weed which must compete with black-market products.
Additionally, they enjoy an almost obscene profit margin.
Whatever they are doing, it's working................and it's producing incredible profits. So for now I'm in favor of sticking with what works. Although indoor grow facilities are much more expensive to build and operate, the quality of the product produced........and the resultant price consumers are willing to pay, clearly warrants that expenditure.
Look gang.............the rules of the board are clear. Posts which are off-topic (NXGWF) or which contain personal attacks are subject to being deleted.
Frankly, I don’t care whether posts “align with my way of thinking” or not. You are free to post anything you like so long as it is on topic and doesn’t contain personal attacks.
FWIW, I have had posts of my own deleted as well. I am not the only person empowered to moderate this board and I should never allow my feelings to be hurt when a post has been deleted when I have violated the rules.
Not my board, not my rules.
Here's a bit of news for you. NGW is up over 15 fold from it's 52 week low. That is very Bullish.
Ended up adding 17,900 shares today. The balance of my limit order expired.
I'll try again tomorrow.
Looks like my limit order just might hit after all today.
50K at $0.63
You can bet the farm that Mike is actively looking for existing space to acquire which would be a much more expeditious way of expanding capacity. It would most probably be outside of Coalinga, giving the company an expanded footprint within California.
From East Coast Dude (Nam) on stocktwits:
"Note to IHub users. The audited year end financials were not out until April 29th last year. Look for them to be out no earlier than the end of April this year. Could be in May though. So relax."
This is why I don't get my panties in a twist when we are drifting sideways or even experience a bit of a pull-back. Because I believe in the fundamentals and the management of the company. Everything else is just noise.
Precisely what I have been saying for years. Those big-name companies have squandered billions of dollars, all in pursuit of market domination. None of them could find a path to profitability even if they had a road map. Some have resorted to dilution.............over and over again, just to fund ongoing operations. Truly a pathetic business model.
Meanwhile, NGW continues to go about its business, quietly growing, turning obscene profits, and rapidly becoming the brand of preference amongst the consuming public.
Profit is King. Followed closely by growth. Throw in unsurpassed quality and it’s trifecta. Combine all three and you have a grand-slam opportunity for investors.
LOLOLOL That made me smile Bridget. Nope.........this week didn't even make me breath hard.