Friday, April 02, 2021 12:58:34 PM
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00024587
Overall I would rate it "ok". Thought the numbers would be a bit stronger but there are some good points apart from that;
Roughly 165k sold, but they were only in 20 stores so that should be ok going forward now they have close to 200 and ecommerce. It was also buy1get1. I was hoping for over 300k personally.
5.8mil loss. Not as bad as I thought, they're relatively conservative.
19mil cash on hand. More than I thought they'd have. Dont think they need to dilute as soon as most thought but well see.
Out of the 165k, 99k was profit so margins are good, once they get rolling they should be able to make this even better especially with other states being more for a pack.
500k worth in inventory end of Jan, seems low to be honest. They did however quadruple capacity at end of February so that's good. They definitely need a bigger facility to expand though.
No forward looking statements unfortunately.
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