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Re: None

Monday, 08/21/2023 1:53:38 PM

Monday, August 21, 2023 1:53:38 PM

Post# of 82964
From the latest CC. A few statements made by the company.

“Finally, please note that on today's call, management will refer to non-GAAP financial measures in which CV Sciences excludes certain expenses from its GAAP financial results”
My add, yes, they certainly want to exclude some of the expenses, make thing look better than what they are. No matter those can be picked up in the 10Q.

“We continue to maintain our number one position in the natural products retail channel, and we continue to increase our market share in this important retail channel”
My add, yes, however with the poor sales showing I’m guessing that means best of sitting in back room shelves everywhere.

“Our Q2 results give us optimism that we will remain a competitive force in our industry”
My add If you mean by competitive force that 99.7 percent of all cbd sold is not cvsi’s. 5.7 billion market 16 million in sales.

“We continue to believe that our asset-light business model
My add, yes sold off some of the asset’s, I’m not sure that is what the shareholders were looking for, less company value.

“On a daily basis, our team works to optimize our merchandising and marketing efforts to optimize our ROI to ensure that we are achieving our return on ad spend targets”
My add, this one has a negative ROI, I have no idea why they would bring up another loss issue.

“Our second quarter revenue was $4.0 million, slightly down compared to $4.1 million in the second quarter of 2022 and the first quarter of 2023. The year-over-year decline is mostly due to lower sales volume”
My add, yes it was, lower sales says it all. Perhaps they should try selling more, perhaps a good business plan as well.

“On a GAAP basis, we reported a second quarter 2023 loss of $1.3 million”
My add, gaap number loss of 1.3 million, not to bad for 90 days but a far cry from breaking even.

“Cash generated by operations during the first six months of 2023 was $2.4 million, a significant improvement from the same period a year ago, which had cash usage of $1.5 million. The improvement in our operating cash are mostly due to the receipt of our ERC funds of $2.5 million and lower cost of operations”
My add, so they are happy with the 2.4 million , but again they got 2.5 million erc money included in that. So without the gov handout they would have lost cash. I don’t believe there will be another government handout this qt, so.

Currently a 0.03 cent company. Well deserved I would think. What they didn’t mention in the CC is that 69 percent of all money coming in goes toward SG&A. Got to keep those paychecks coming you know. IMO
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