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It would be nice for the price to settle at a nice modestly fair value with a 5x multiple of sales, price per share of around $.25-$.35 until safe banking act and more act get voted on.
MM’s can’t even wait until the market opens to manipulate SRNA today!
Looks like roughly 80% buys bs 20% sells today.
I don’t know who told you that. The management at Rubicon stated profitable by 1st or 2nd qt 2021
Surna Reports Q1 2021 Results
Mentioned: SRNA
Announces $11.6 million in Backlog, second highest in Company history, and 37% higher than previous quarter
Surna Inc. (OTCQB: SRNA), operating as Surna Cultivation Technologies, announced today operating and financial results for the three months ended March 31, 2021.
We will be hosting an investor conference call to discuss our Q1 2021 financial results and to provide updates on our recent business developments and our strategic growth plan. The call will be held on Thursday, May 13, 2021 at 4:00 p.m. Eastern Time.
To access the investor call via telephone: Dial-In Number: 1-973-528-0008 Access Code: 755823 To access the investor call via the Internet: Webcast URL: https://www.webcaster4.com/Webcast/Page/2020/41253
Interested parties, with contact information supplied, may submit questions to the Company prior to the call to investor@surna.com. These questions, along with all live questions, will be answered in the time available. For those unable to participate in the investor conference call at that time, a replay will be available on the investor relations section of our website at https://surna.com/investor-relations/ beginning on May 14, 2021 at 4:00 p.m. Eastern Time (and will remain available until July 1, 2021).
Financial Highlights
â? Our Q1 2021 revenue was $2.4 million, which represents a 31% increase compared to Q1 2020 revenue. â? For Q1 2021, our operating loss and net loss was $686,000 and $793,000, respectively. This compares to a Q1 2020 operating loss and net loss of $946,000 and $938,000, respectively. â? Our Q1 2021 adjusted net loss was $650,000, compared to a Q1 2020 adjusted net loss of $718,000. â? Our Q1 2021 gross profit margin was 14.6% compared to 25.2% for Q1 2020, a decrease of 10.7 percentage points. â? As of March 31, 2021, our cash, cash equivalents and restricted cash was $3,271,000, compared to $2,285,000 as of December 31, 2020. We generated $484,000 in cash flow from our operating activities during Q1 2021. Our working capital deficit was $2,349,000 as of March 31, 2021, compared to a working capital deficit of $2,220,00 as of December 31, 2020.
"Adjusted net income (loss)" means our GAAP net income (loss), after adjustment for non-cash equity compensation expense, other non-cash equity expense, debt-related items, and depreciation expense.
Recent Sales Contract and Backlog Growth; Production and Vendor Delays
During the first quarter of 2021 we entered into new sales contracts totaling approximately $5.5 million. Our backlog grew to $11.6 million, which is the second highest in our history. However, our recognized revenue was hampered by production and shipping delays from certain suppliers. COVID-19 is disrupting shipping around the U.S. and globally. Shipping companies are operating with reduced personnel and there are strict screening actions in U.S. ports causing a backup of imported parts deliveries. While we believe this is a temporary issue, the reduction in revenue caused a lower gross margin as compared to Q4 2020, primarily due to the lack of absorption of our fixed costs.
For the quarter ended March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 March 31, 2021Backlog, beginning balance $ 9,558,000 $ 8,875,000 $ 5,592,000 $ 8,198,000 $ 8,448,000Net bookings, current period $ 1,127,000 $ (1,601,000 ) $ 4,241,000 $ 3,637,000 $ 5,497,000Recognized revenue, current period $ 1,810,000 $ 1,682,000 $ 1,635,000 $ 3,387,000 $ 2,367,000Backlog, ending balance $ 8,875,000 $ 5,592,000 $ 8,198,000 $ 8,448,000 $ 11,578,000
Organic Growth Strategy Update
As we noted in our press release of May 4, 2021, we have updated our organic growth strategy to include addressing new markets, adding new products and services, and adopting a new trade name, Surna Cultivation Technologies. We encourage readers to see the MD&A section of our Form 10-Q dated and filed today, for further explanation of this and our corporate strategy.
Tony McDonald, CEO, commented: "Q1 2021 saw the second-best quarter of new project bookings in our history as well as our largest single project ever. Our project backlog is now at the second highest level ever and is 37% higher than where we finished Q4 2020. Our cash position is also nearly $1 million higher than where we ended 2020. Unfortunately, our revenues and therefore gross margins were hampered by production and shipping delays from certain vendors, but we are confident that these will be caught up in Q2 and Q3 2021. We believe that the sales momentum that has been built during the last three quarters will only be accelerated by our newly-announced organic growth strategy and our partnership with RSX Enterprises."
Pandemic Impact and Recovery
During fiscal year 2020, the Company took measures to adjust its operations in response to the COVID-19 pandemic. These actions included measures to cut costs and preserve cash, and encompassed downsizing our workforce, compensation reductions, and reduced hours worked. As the Company gained new contracts, bank funding became available, and the overall business climate improved, we were able to restore our workforce and compensation. The Company continues to actively monitor its operations and sales efforts in light of the continuing effects of the COVID-19 pandemic and will make adjustments to its operations as necessary.
Chart looks like it’s time to buy soon!
These prices are a gift given to us a week before Rubicon announces what could very well be their first profitable quarter.
Tanking is a major over exaggeration on your part. This stock has only ever been as high as $3.20 or so.
I picked up a few more today as well. If it goes down to $.05 I will be selling other stock to load SRNA
MM’s gonna walk this down into the release of the quarterly report? If that’s the case, I’ll save my powder for next week Thursday or Friday, just before Surna releases their numbers.
Have they announced when the 1st qt financials will be released?
Surna Cultivation Technologies....
I like it.... I like it A LOT!
I have a feeling the S.A.F.E. Banking act is going to be voted on by the Senate soon. Nothing to back this up. Just a gut feeling.
President Biden hosting an international climate change summit today involving 40 countries!!!!!!!!
Simply BareTM Q4 2020 market share:
#1 Premium Pre-roll brand in BC, AB, & ON ($10+/g)
#1 Organic Flower brand in BC, AB, ON
#1 Premium Flower brand in British Columbia
#1 Premium ITEM in British Columbia
#1 Super-Premium Flower brand ($50+/3.5g) in Ontario #2 Premium brand ($40+/3.5g) in Ontario
#2 Premium brand in Alberta
#2 Pre-roll brand (total market) in British Columbia
$5.00 gross margin/gram
WTF happened to all the money QS has after the spac deal? Why do they need a public offering right now. Seems strange
Nice to see volume increases on both the Canadian and US side. Maybe Rubicon is finally getting noticed by the retail investors out there.
If that’s what the company said, I would go by that, not what I say. So far Jesse McConnell and Rubicon Organics has kept to their word.
Seems like they are still building their business to their vision of what full capacity would be for Rubicon Organics. So cash flow positive may not be for a little while yet. Sales numbers and how their sales rank in the premium organic cannabis market I feel are more important numbers at the moment. If they can consistently put out premium products that people desire and consistently rank in the top 3 of premium cannabis products sold, profitability will be the by product. I would think they are going to keep investing back into the company for quite some time yet. I still feel the cannabis industry is only a little past infancy. It may be past the toddler stage, and now an actual child, but still a ways to go to be in the adolescent stage. Like the saying goes, “if you build it they will come”. If they keep turning out the best premium organic cannabis in Canada, they will continue to demand premium prices and in turn continue to have growing sales numbers.
This sudden down trend is across the whole sector of cannabis stocks. Not just here. Something broader than just short attack here.
Same with CLVR. All dropping dramatically at the same exact time this morning.
ThorDrive Selects Velodyne Lidar's Ultra Puck sensors For Autonomous Technology Efficiency
9:58am ET 2/10/2021 Benzinga
Mentioned in article
VLDR
Velodyne Lidar, Inc. (NASDAQ: VLDR) inked a five-year sales agreement to deliver Ultra Puck sensors to autonomous technology company ThorDrive towards better airport safety and cargo efficiencies.
ThorDrive utilizes Velodyne's lidar sensors to power its cargo and baggage ground support tractors under an autonomous vehicle (AV) program at the Cincinnati / Northern Kentucky International Airport (CVG). The units would be ready for sale by the end of 2021.
ThorDrive chose Ultra Puck for real-time object detection by the sensor's patented 3D surround view technology amidst harsh weather conditions.
ThorDrive has been utilizing Velodyne lidar sensors in developing its autonomous driving technology since 2010.
ThorDrive intends to expand its AV solutions into the aviation ground support equipment market and industrial and manufacturing applications.
Price action: VLDR shares are trading higher by 2.86% at $24.10 on the last check Wednesday
Before Surna went public, they were called Hydro Innovations. Surna was a shell company when Hydro Innovations and the guy who created FarmVille used it to go public. When surna was a shell it was trading at $8. After Hydro Innovations used the surna shell to go public and changed the share structure, the company Surna as we know it was trading around $.45-$.40/ share.
Use your math to figure out why Tesla is $850/ share.
The market is forward looking. Federal legalization is nearing. With legalization will come more capital investment into the infrastructure of the industry. Surna is a picks and shovels company in the right place at the right time.
Surna is in the right place at the right time. How they have remained so undervalued for so long still boggles my mind. Surna should be at least $.50/share IMO
Good article about demand for premium flower rising.
https://mjbizdaily.com/premium-flower-demand-drives-colorado-wholesale-marijuana-prices-to-nearly-five-year-highs/
Starting to come back a little bit now.
Exactly. More buys than sells today. Including myself. Picked up 25000 more
No excuse for TD not to have symbol updated on our holdings. I’m in the same boat.
Pepsi on board!!!
Cresco Labs Hires PepsiCo Veteran and Supply Chain Expert Ty Gent as Its New Chief Operating Officer
5:00am ET 1/19/2021 BusinessWire
Mentioned in article
CRLBFPEP
Cresco Labs (CSE:CL) (OTCQX:CRLBF) ("Cresco" or "the Company"), one of the largest vertically integrated multistate cannabis operators in the United States, announced the hiring of CPG industry veteran Ty Gent as the Company's new Chief Operating Officer ("COO"). As COO, Gent will be responsible for operational consistency and efficiency across markets and implementation of structural enhancements to facilitate scaling.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005322/en/
Gent joins Cresco with more than 35 years of CPG and supply chain leadership experience. Most recently, he was the Chief Supply Chain Officer at US Foods, where he developed and implemented a new supply chain strategy, optimized its large-scale transportation network, launched field-based continuous improvement processes, and upgraded key systems technologies and planning capabilities. Previously, he worked at PepsiCo for 30 years in various executive management positions. Among Gent's accomplishments, he led end-to-end supply chain operations for PepsiCo foods in South and Central America as the Senior Vice President of Operations. As Senior Vice President of Logistics, he steered the PepsiCo transportation network for North America and the warehouse delivery network for Quaker, Gatorade and Tropicana brands divisions within PepsiCo's North America Beverage Sector.
As a subject matter expert in supply chain optimization, S&OP planning, manufacturing, warehouse management, distribution, and quality and safety, Gent brings expertise that is directly transferrable to Cresco's key focus of producing and distributing branded products at substantial scale.
"With the immense growth of Cresco Labs and our multi-state footprint, the scale and demands of our business have grown significantly," said Charlie Bachtell, Cresco Labs' CEO and Co-founder. "Ty's experience leading distribution and supply chain optimization for one of America's largest food distributors and one of the leading CPG companies in the world will help Cresco Labs enhance its level of quality and service by driving operational execution as we significantly increase the scale of operations across our strategic multi-state footprint. He's made a career of taking existing operations to the next level, optimizing integrated supply chains and building leaders within organizations--creating greater success at every stop along the way."
"Cannabis is an exciting industry with tremendous growth potential, and Cresco's focus on the middle verticals of the value chain--the production and distribution of branded products--is what drew me to the company. It is clear from my work at PepsiCo that the future of the cannabis industry, like any CPG industry, is tied to operational excellence related to branded products and wholesale distribution," said Ty Gent. "My work at PepsiCo, where I was responsible for reducing costs and enhancing service across PepsiCo's supply chain, is directly applicable to Cresco Labs. I'm excited to be part of the continued building of Cresco Labs' team into one that sets the standard for operating efficiency and consistency and exceeds our patients' and customers' expectations for quality. We will continue to make operational execution a competitive advantage at Cresco Labs."
Concurrent with Ty Gent's hiring, David Ellis will move from COO to Regional President of Operations for Emerging Markets (Massachusetts, New York, Pennsylvania, Ohio and Maryland). As part of the initial Cresco Labs team, Ellis has been crucial in laying the foundation for the Company's end-to-end operational model and leading the growth of Illinois, Pennsylvania and California. He will be responsible for repeating that successful playbook in Cresco's emerging markets.
Charlie added, "David Ellis was employee number two at Cresco, and his entrepreneurial approach and leadership through our startup phase has been instrumental in getting Cresco Labs to where it is today. He led the expansion of cultivation and wholesale in our two largest markets and spearheaded the development and market introduction of some of our most successful branded products. I'm excited to see him dedicate his focus and experience to repeating that success in our emerging markets."
About Cresco Labs
Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods ("CPG") approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy's Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs' national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry's largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at CrescoLabs.com.
No. I own common. Just getting people’s thoughts on it. Seems like a sort of warrant call for the original investors in Subversive.
Any of you shareholders get this email?
https://myservice.broadridge.com/UniversalPortal/ReorgMob/reorgstrt/1220/E22828/864296108/images/001image_001.png
It tested $94 on 12/29. Do you think it needs to test it again? It’s been bouncing off the 10 day moving ave on the 3 month chart, and that moving average keeps moving up at the moment. 10dma over 97 right now.
That’s where a lot of the value of this stock lies as well. The company does have a lot of cash. Any company that has $1.3B at its disposal is worth quite a bit just based on that alone.
They raised the money while going public during the spac merger from KCAC to QS. This is part of the allure of going public via spac. If I remember correctly, after the merger, Quantum Scape has $1.3B to bring their battery to market. Shouldn’t need dilution for awhile.
Velodyne Joins the Qualcomm Smart Cities Accelerator Program
Source: Business Wire
Velodyne Lidar Advances Smart City Industry
Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced it has joined the Qualcomm® Smart Cities Accelerator Program to promote using lidar technology in smart city solutions. By becoming part of the Qualcomm Smart Cities ecosystem, Velodyne will work more closely with Qualcomm Technologies, Inc., governments and solution developers to create smart city applications that improve public services and enhance safety and quality of life.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201221005093/en/
Smart city solutions can use Velodyne’s lidar sensors to measure and monitor conditions in areas such as vehicle traffic, pedestrian safety, parking space management, speed measurement, V2X communications, queue and asset management, security and more. (Photo: Velodyne Lidar, Inc.)