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$GRPS Needs Another Pump. Yesterday's Was A HUGE_FLOP!...EOM
I Was Hoping This 3-Card Monte Pump Got_Us_To_$0.004_On_The_Bid...EOM
Now This COVID-19 Pump Is OLD, REHASHED NEWS...EOM
The Original Partner PR Pump Saw The Partner_Rise_1000%_In_One_Day...EOM
$GRPS Should Have Been On The Original Partner_PR_Pump...EOM
WOW!..A Lot Of Dumping Is Happening...EOM
Dagnabit..The 3-Card Monte Pump Failed...EOM
HaHaHa..THAT THE 3-CARD MONTE PUMP I WANTED!!!!...EOM
TGOD Is A Dead Stock Until 1st Q_Earnings_2021...EOM
Dr. Goulding Is Slacking On His 3-Card Monte_Pumps...EOM
$GRPS's 3-Card Monte Pump Game Is No Match_For_Its_Touted_Partner...EOM
If This Goes Canada-Wide, How Does TGOD Survive...
Cannabis stores in Ontario no longer deemed essential, will close this weekend...
https://toronto.ctvnews.ca/mobile/cannabis-stores-in-ontario-no-longer-deemed-essential-will-close-this-weekend-1.4881547#_gus&_gucid=&_gup=Facebook&_gsc=U6uYGBd
Once TGOD Shows Proof Of Concept, They'll Likely_Get_Bought_Out...EOM
Authorized Shares (A/S) Are Unlimited. Outstanding Shares (O/S) Are Still 313 Mill For Right Now But Will Balloon To Around 335 Million In A Few Weeks.
TGOD Is In Straight Survival Mode--Leveraged To The_Hilt...EOM
If TGOD Survives, We Will Recoup In 2022/2023._At_$0.10,_I'll_Add_More...EOM
Oops..Meant $GRPS Is OTC Current...EOM
Maybe It Will Climb When $GPRS Is OTC_Current...EOM
The Bid For $GRPS Stays Stuck On Stupid...EOM
TGOD Did An Old Strategy For Last 3 PR's: Good News, Bad News, Good News. The only issue is that the sandwiched bad news was really bad news. Every Bought Deal I've watched initially brought a company's stock price to the Bought Deal price. Then, before all is said and done, the stock price trades much lower before establishing a bottom and rebounding. $0.21 is not the bottom folks.
FINALLY!!!--Ancaster Processing License! Craft Grower Status Secured...EOM
Congrats $ACB Longs!! The 30-Day Doomsday Clock Is_Halted...EOM
They Warned Dilution Was Possible In Last CC Although They Played It Down...
March 10, 2020
Operator
Thank you. We do have one more question from William Jones at Tudor Capital. Please go ahead.
William Jones
Hey, guys, good morning. I just want to focus on 2020 and cash flow positiveness to start with. And previously, the guidance was -- I think by the end of Q1, we should reach that. And then, I understood it will be within the first half of 2020. I think it was Brian that mentioned later this year in the call just now. Could you just elaborate on this? What are we currently expecting in terms of when cash flow positiveness would be achieved? And how certain are you that you will be able to stick to that at this time around?
Sean Bovingdon
Yes, it's Sean. Thanks for waiting for your question there. As we've -- as Brian mentioned, we had some challenges in the supply chain, particularly with the cannabis 2.0 products. We wanted to note that the we're still on that timeline for being cash flow positive this year. It won't be quite at the ending in Q2 as we were hoping, as we've had some of those supply chain issues but the cannabis 2.0 products are still -- have a strong interest from the market, and so when they are fully out there and being disputed nationally that allows us to get to a point of having cash flow portability. Our breakeven point is about $6 million in revenue a month, and that is targeted as I said, for later this year. We're hopeful that it should be in July but certainly, shortly thereafter, if not in July itself.
William Jones
Okay. About profitability because I think that was in for end of Q3 initially?
Sean Bovingdon
No, there was -- it was cash flow positive, operating cash flow positive. The profitability would be after that as you have to take into account the depreciation and it depends on what kind of financing costs we're paying as well. So that would be much -- that would be several months later.
William Jones
Several months but still this year?
Sean Bovingdon
It's going to depend on how well the cannabis 2.0 products are received and the mainstream band is received. We're hopeful to reach it by the end of this year but as I said, we'll have a better visibility into that by the end of Q2.
Brian Athaide
But in terms of EBITDA and operating cash flow, we do expect that in the back half of this year.
William Jones
Okay, got you. Thank you. Last question. You mentioned raising new capital; did I hear correctly that with the current cash position that you have, you would be able to make it till the end of April. So we expect something to be announced regarding this before that?
Sean Bovingdon
Yes, we mentioned that -- as is mentioned in our prospectus back in December that the financing raised got us to complete the Hamilton facility, as well as build out the greenhouse in Valleyfield and provide working capital through the end of April. We are working now on the additional debt facility or top-up to the existing credit facility that we have with our current provider, as well as some of the surplus assets we have at Valleyfield being monetized. Our expectation to your point there William is within the next month here to do some announcement with regards to additional debt being put in place to get us through that working capital crunch and working capital bridge to positive cash flow in the back half of the year. We're not expecting to go to the markets, particularly in this environment, but we'll keep options open as it is. The way I'd put it William is, we're really like a race car. We've built this race car, we're sitting on the starting line, and we're just looking for gas to put in the tank to get around the first bend. And so that kind of additional financing whether it's debt as expected or looking at the markets is really getting us to the point to get around that first bend, and into the -- straight in the race. I mean, our assets valuation is greatly above the liabilities in some of those surplus assets there are, we do have to have some offers on for those as well.
William Jones
Yes, clear. Thank you.
Operator
Thank you. That concludes the Q&A period. I will now turn it back over for closing comments.
NEWAGE REPORTS 386% FULL YEAR 2019 REVENUE GROWTH...
Strong Balance sheet with over $250 million in assets and cash of $61 million
Business transformation resulted in developing an infrastructure across 60 countries and a near 5-fold increase in full year revenue
NewAge Beverages Corporation (Nasdaq: NBEV), the Colorado-based healthy products company dedicated to inspiring and educating the planet to "live healthy", today announced financial results for the year ended December 31, 2019 with revenue growth of 386%.
Highlights for Full Year 2019 Compared to Full Year 2018:
-- Net revenue increased 386% to $253.7 million versus prior year of $52.2 million
-- Gross margins increased to 60.2% compared to 17.8% in the prior year
-- Net loss was $89.8 million, driven primarily by a non-cash impairment charge
-- Adjusted EBITDA* loss improved by $1.7 million to $13.4 million from $15.2 million in 2018
* Adjusted EBITDA is a non-GAAP financial measure. See the discussion and reconciliation of non-GAAP financial measures below.
Brent Willis, Chief Executive Officer of NewAge commented, "In 2019 we increased our scale five times, evolving from a $50 million company to one with net revenue above $250 million. Whilst doing so, we gained access to a range of new channels and opportunities across our infrastructure that now spans 60 countries worldwide. We also added global iconic brands like Nestea, Volvic, Illy, and Evian to our portfolio, strengthened our platform worldwide and made important investments in our leadership team. We believe there is no better time to be in the business of healthy products, with a system like ours that primarily delivers directly to consumers' homes. We are extremely well positioned to address consumer concerns for staying healthy around the world with our unique portfolio of healthy products and omnichannel route to market."
Full Year 2019 Financial Results
In 2019, net revenue was $253.7 million compared to $52.2 million in 2018, an increase of 386%.
Gross profit for 2019 increased 16-fold to $152.7 million compared to $9.3 million in 2018. Gross margin increased to 60.2% for 2019 compared to 17.8% for 2018, which reflects a significant improvement in product portfolio, penetration of more profitable channels, and access to new, more profitable markets.
Net loss was $89.8 million, or $1.16 per share, during 2019 compared to a net loss of $12.1 million, or $0.26 per share, in 2018. The increase in net loss during 2019 was significantly impacted by the $44.9 million non-cash impairment charge taken during the year related to our U.S. retail brands business. Adjusted EBITDA loss improved by $1.7 million to $13.4 million from $15.2 million in the prior year period.
Gregory A. Gould, Chief Financial Officer, commented, "I believe we are well positioned for 2020 following our business transformation during 2019. We have a strong balance sheet with over $60 million of cash and over $250 million in assets with less than $30 million of debt, as well as a scale and revenue base that is almost five times the size we were in the prior year. Growing at this pace is always a challenge, but in the process we have kept our balance sheet and capital structure strong, providing us with flexibility for our next steps in 2020. We have impaired a majority of our U.S. retail business as we focus our efforts on our strongest and most profitable assets, which we expect to drive a meaningful improvement on our EBITDA in 2020."
Fourth Quarter 2019 Financial Results
During the fourth quarter of 2019, net revenue increased 323% to $59.2 million compared to $14.0 million in the fourth quarter of 2018.
Gross profit in the fourth quarter of 2019 increased 10-fold to $32.2 million compared to $3.2 million in the fourth quarter of 2018. Gross margin increased to 54.3% for the fourth quarter of 2019 compared to 23.0% for the fourth quarter of 2018, reflecting the positive change in both product and channel mix, especially with our direct-to-consumer business.
Net loss was $65.9 million, or $0.83 per share, during the fourth quarter of 2019 compared to a net loss of $2.6 million, or $0.04 per share, in the fourth quarter of 2018. The increase in net loss was significantly impacted by the $44.9 million non-cash impairment charge taken during the fourth quarter of 2019.
Adjusted EBITDA was a loss of $17.4 million compared to an adjusted EBITDA loss of $8.7 million in the prior year period. The increased adjusted EBITDA loss was due primarily to the impact of the U.S. retail brands that are under strategic review, as well as continued softness in China that have been a consistent industry challenge since government intervention in the early part of 2019.
About NewAge Beverages Corporation (NASDAQ: NBEV)
NewAge is a Colorado based healthy products company dedicated to inspiring and educating consumers to "Live Healthy." The Company is the only omni-channel distributed company with access to traditional retail, e-commerce, direct-to-consumer, and medical channels across 60 countries worldwide. NewAge markets a portfolio of better-for-you products including the brands Tahitian Noni, TeMana, Nestea, Volvic, Illy Coffee, Evian, Bucha Live Kombucha, and others. The Company operates the websites www.newage.com, www.nonibynewage.com, www.nestea.com, www.volvic.com, www.illy.com, www.evian.com, and a number of other individual brand websites.
NewAge has exclusively partnered with the world's 5th largest water charity, WATERisLIFE, to end the world water crisis with the most innovative technologies available. Donate at WATERisLIFE.com to help us #EnditToday.
We Still Need VOLUME! We Need A 100+_Million_Shares_Traded_Day...EOM
We Will See $0.10/Share For Sure Now...EOM
TGOD Is The WORST Investment I've EVER Been_Fooled_To_Investment_In...EOM
Will We Get A 3-Card Monte Pump Today?...EOM
We Need Volume-->Need Over 100 Million Shares Traded...EOM
New Bright Spot: TGOD Has Simplified Their Business_Tremendously...EOM
2 Years, $400 Million Spent, Result: A 17,500 KG Facility ONLY That Is Still Not 100% Completed. Just Sad And Pathetic. AND Outside Funds are still needed to get to the end of the year.
TGOD Had A Press Release Today:
https://www.tgod.ca/blogs/investor-news/the-green-organic-dutchman-continues-cost-reduction-initiatives-while-expanding-product-portfolio
THE GREEN ORGANIC DUTCHMAN CONTINUES COST REDUCTION INITIATIVES WHILE EXPANDING PRODUCT PORTFOLIO
--Centralizes cultivation operations at Ancaster
--Reduces workforce at Valleyfield
--Implements broad salary reduction for management and administration
--Sees strong interest in recent launch of Infusers
Toronto, ON, March 25, 2020 - The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF), a leading producer of premium certified organic cannabis, announced today that, due to market conditions, it is adapting operations and aggressively reducing costs.
Valleyfield Cost Savings
The Company has postponed the start up of its Valleyfield facility in order to centralize cultivation operations at Ancaster. The Ontario facility is able to produce larger volumes than initially anticipated, enabling the Company to delay cultivation operations in Valleyfield saving costs and capital. The Company has temporarily laid off the majority of its Valleyfield employees and intends to restart operations there later in the year. Ancaster is not impacted and continues to grow and harvest premium organic cannabis for the recreational and medical markets.
This change also does not impact TGOD’s timeline for the launch of its remaining Cannabis 2.0 products, with Infusers already launched and organic teas and vapes still on track to become available at the end of next month.
Ancaster Processing Facility
TGOD expects to imminently receive its licence amendment from Health Canada for the processing facility at Ancaster. Once it is received, the Company will be able to automate many of its processes reducing costs and further accelerating production.
Cost Reduction Measures
As it continues to work towards becoming EBITDA and operating cash flow positive later this year, beyond the cost savings generated with the Valleyfield operation postponement, TGOD has undertaken another series of measures to aggressively reduce costs. This includes:
--Temporary salary reductions of 20% for salaried employees and 30% for certain executives
--A freeze on all non-essential recruitment and consultancy work
--Working with suppliers to identify further cost savings and efficiencies
“Multiple factors, most particularly the COVID-19 pandemic, are contributing to an environment in which we must be extremely prudent with how we manage our cost structure. These are unprecedented times, and the situation continues to evolve. With the support and unity I have seen from our employees, partners and stakeholders, I am very confident that TGOD can tackle this challenge and come out much stronger,” commented Brian Athaide, CEO of TGOD. “We have seen very strong consumer and medical patient feedback from our recent TGOD Infusers launch and are looking forward to having them available in more stores quickly. These along with our upcoming additional 2.0 products are very unique and deliver superior consumer experiences which will help further differentiate and build our TGOD organic brand positioning,” continued Athaide.
About The Green Organic Dutchman Holdings Ltd.
We Still Have 2 Days--Hopefully, Ancaster Processing License...EOM
Goulding Should Release A PR About GRPS Treating_COVID-19...EOM
Has $WSRC Tweet Teased Lately?...EOM
Still Have 3 Days This Week-->Ancaster Processing License...EOM
Well That GRPS Partner Pump Is Over. Now_The_Dump_Is_Happening...EOM
MediPharm Is Now Trading Higher Than Valens Again...EOM
GRPS Needs To Mention A Pursuit Of A_COVID-19_Cure...EOM
WOW..That GRPS Partner Is Running Early Again!. We_Need_That!!!...EOM