The filing was OK with not much to take note of. The Balance sheet is still solid enough with the major difference being the new Notes Payable due to the recent acquisitions. Revenue was only up 13% from the prior year's quarter, this is mostly due to the revenue mix changing. The new Cannabis Product revenues were nice to see but they were offset by a reduction in revenues from Consulting and the related Products and Equipment sales. Gross Margins were still solid at 41.7%
The Net loss of $368k was a little higher than I expected but the company has several quarters of cash available before needing to raise capital again.
The company is transitioning into a cannabis operator and this quarter represents the growing pains it entails.
There was also a Form 4 filed showing that Mr. Hollister has been doing his quarterly sales again, this has added pressure to the share price but should be completed soon. He usually sells around 600k shares and the Form 4 shows more than half of that would already be completed.
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