Neptune Wellness Solutions Inc (NEPT)

[Wolf-man jack]

For the prior fiscal year ended March 31, 2021, the Company reported total revenues of $35.4 million and gross loss (cost of sales in excess of total revenues) of $27.4 million. The Company expects to report total revenues of approximately $48.8 million and gross loss of approximately $7.4 million for the year ended March 31, 2022 ("Fiscal 2022").
In the fourth quarter of Fiscal 2022, the Company expects to report impairment charges relang to its Canadian cannabis asset group of approximately $12.1 million, and impairment and related charges (from the revaluaon of the Sprout business call opon and impairment on Sprout goodwill and intangibles) of approximately $10.4 million arising from the Company's Sprout business. Addionally, there is substanal doubt that the Company will be able to connue as a going concern. The Company is currently required to acvely manage its liquidity and expenses. The current cash balance is expected to be sufficient to operate the business for only the next two to three months under the current business plan. A more detailed discussion of results of operaons will be included in the Management’s Discussion and Analysis of Financial Condion and Results of Operaons in the Company’s Form 10-K to be filed.