Cliff notes for Q3 CC
1) Revenue of 10.12 million, a 45.6% increase over Q2
2) Revenue Growth of 81.8% year over year in cannabis sector
3) Gross Profit of 2.33m in Q3, an increase of 85.9% year over year
4) Gross Margins increased to 23.1% compared to 18.1%
5) EG gross margins increased 16.8%
6) Cannabis segment margins increased 24%
7) SG&A expenses increased 5%
8) Realized net loss of 7.79m
9) Cash balance of approx. 6.65m
10) No short term debt
11) Long term debt increased from approx. 1.4m to approx. 2.1m
12) Stockholders equity increased from 52.2m to 75.8m
13) Acquired another 38% interest in Medifarm, we now own 98%
14) nuleaf partnership, 30k sq ft cult plus a 15k sq ft production facility, online around 1st of new year
15) blüm/San Leandro opening early part of ‘18
16) Looking to expand cult and extraction footprint in CA, increasing profit, meet demand
17) Signed 2nd craft cultivator - 6 acres, 244k sq ft of canopy space, Salinas, CA
18) Received approximately 1k pounds from Humboldt (Panther Gap Farms)
19) Hegenberger 13k sq ft greenhouse and lab expected to be operational by mid ‘18
20) Aggressively pursuing significant opportunities in NJ market, started lobbying efforts, hired attorneys, discussions with officials as they establish a regulatory process to make sure we have input for zoning and taxation etc…
21) Edible Gardens improved gross profits by 11% year over year
22) Edible Gardens gross profit margins have improved to 17% vs 10% in ‘16
23) EG continuing to launch new product lines (Snipets)
24) EG building out a “pack house” to enter the “cut” herb and lettuce market
25) EG looking to enter the west coast market (CA) through strategic cultivation relationships and Aldi’s
26) Guidance for the year of 38m to 40m
27) Spanish springs permits -- 2-3 acres of greenhouse and production facility coming soon.
28) Appointed Alan Gladstone has strategic advisor
29) Insiders aligned with shareholders across the board, All in the same boat
30) over 260 employees…
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