CV Sciences Inc (CVSI)

[MontanaJackIsBack]

Vitamin Shoppe well 383 stores are to have stocked by 9 / 22 ie in 3 days
for the full portfolio of products


And that bill is going out

You're counting on THIS Vitamin Shoppe to solve CVSI's continued slide down over 50% in six months?

First of all no "bill is going out" CVSI sells to retailers on consignment. Secondly, read the below Balance Sheet Summary, The Vitamin Shoppe has equivalent Convertible Notes to their EBITDA

Balance Sheet

Cash and equivalents at March 30, 2019 were $1.6 million. At quarter end, the Company had a convertible notes liability with a total face value of $60.4 million and nothing borrowed on its revolving line of credit.

The key impacts to the balance sheet from the adoption of Accounting Standards Update 2016-02 (Accounting for Leases) effective December 30, 2018, resulted in $446 million of right-of-use assets as of March 30, 2019 and short-term and long-term lease liabilities of $97 million and $390 million, respectively.

Capital expenditures were $4.4 million in the quarter with funds primarily expended on IT and other digital investments.

2019 Outlook

Based on first quarter performance, the Company is updating total comparable sales guidance for 2019. All other guidance for the key levers that drive the business are unchanged. The Company expects:

Full year comparable sales of negative mid to low single digits
Reported full year gross margin rate of 31.7% to 32.2%.
Adjusted EBITDA of $62 million to $65 million.
Estimated combined Federal, State and Local tax rate of 28%.
Full year capital expenditures of approximately $33 million, not including the
Closing approximately 60 to 80 stores over next three years