Captor Cap Corp. (CPTR)

[MADDSTACKER]

Corporate Update / Financial Statement Highlights

19 millionin cash !

Outstanding Shares 38,733,438 09/03/2020


Captor Capital Reports Revenues of $3.67 Million and Gross Profits of $1.25 Million in Unaudited Financial Statements for the Three Months Ended June 2020.



Financial Statement Highlights

During the three months ended June 30, 2020, the Company recorded revenues of $3,767,851 from the sale of cannabis at its retail dispensaries compared to $2,868,679 in the 2019 comparative period.
During the three months ended June 30, 2020, the Company recorded a gross profit of $1,251,336 from the sale of cannabis at its retail dispensaries compared to $341,131 in the 2019 comparative period.
For the three months ended June 30, 2020, the Company’s net income was $2,690,628 ($0.07 per share), compared to net loss of $7,189,142 ($0.18 per share) for the three months ended June 30, 2019.
Net income of $2,690,628 consisted primarily of unrealized gain on investments at fair value $3,442,725 and gross profit of $1,251,336 offset by general and administrative expenses of $1,776,059
As at June 30, 2020, the Company had a consolidated cash balance of $18,493,586 compared to $19,766,334 at March 31, 2020.
The Company had a working capital of $23,537,956 as at June 30, 2020, compared to a working capital of $20,652,754 at March 31, 2020.


Corporate Update

In conjunction with the release of the unaudited financial statements for the three months ended June 30, 2020 the Company provided a corporate update on Captor Retail Group (“CRG”).

Captor and Three Habitat have implemented consistent operational, procedural, accounting, and human resources procedures for the five dispensaries – two Chai-branded locations and three One Plant locations – that are currently being operated by Captor Retail Group under a management agreement between the parties. The legal team put together by Captor Capital and One Plant is in the process of transferring all licenses to CRG. Simultaneously, CRG is proceeding with the construction process on the One Plant Antioch location, which is scheduled to be the sixth CRG dispensary in operation, with an estimated construction completion date of October 2020.

On November 20, 2018, the Company announced it had signed a Letter of Intent (“LOI”) to acquire an entity that has submitted an application pending approval for a cannabis dispensary in Santa Barbara County, California (the “Seller”). Under the terms of the transaction, Captor was to acquire 99 per cent of the equity interests in the Seller. The entity was being sold by an affiliate of Three Habitat Consulting, who was due to receive an aggregate of US $1,300,000 (the “Purchase Price”). The entity originally pursued under this LOI is different from the Goleta location referenced in the media release of August 10, 2020 announcing the formation of CRG. Captor is currently considering strategic options regarding the LOI for the Goleta Dispensary referenced in the November 20, 2018 media release.


Important news releases ... imho

https://www.otcmarkets.com/stock/CPTRF/news/Captor-Capital-Announces-Share-Buyback-Program?id=261087


https://www.otcmarkets.com/stock/CPTRF/news/Captor-Enters-Into-Joint-Venture-with-California-based-Cannabis-Retail-Chain-and-Obtains-a-51-Interest-in-a-Total-of-9-C?id=270225


https://www.otcmarkets.com/stock/CPTRF/news/Captor-Capital-Reports-Revenues-of-367-Million-and-Gross-Profits-of-125-Million-in-Unaudited-Financial-Statements-for-th?id=276804