Trulieve Cannabis Corp (TCNNF)

[GE_Jim]

There are a few things I think are important to mention from the latest 10q just filed to all investors here.
All numbers are taken from the 10q.
Cash and cash equivalents dropped 55 million down to 152 million.
Inventories, net dropped 24 million.
All told Total current assets dropped 120 million, down to 474 million.
And TOTAL ASSETS dropped almost 600 million.
TOTAL LIABILITIES however also dropped 124 million, mainly on the 125 million Private placement notes payment.
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY dropped 592 million again mainly on accumulated deficit
Y/Y for the first 6 mo. rev. dropped 56 million or roughly 10 percent.
Cost of goods sold went up 14 million.
Gross profit dropped 72 million.
We now have a recorded impairment of goodwill of 307 million. 1st time they recorded it. A quick view of what it means - Goodwill impairment occurs when a company decides to pay more than book value for the acquisition of an asset, and then the value of that asset declines.
We’ll skip past the accounting acrobatics and cut to the chase.
Net loss from continuing operations 342 million
Net loss from discontinued operations, 64 million
Net loss 406 million.
Total net loss to shareholders per share for both 2.14 per share. 1.80 and .34
IMO, they have a lot of work in front them to get this corrected.