Cronos Q3 F18 Rundown Sept 30, 2018

Open up the financials and MDA and follow along. Sales Cronos evidenced a $0.4 million or 11% in crease in sales to $3.8 million.  They have some new disclosure that wasn’t available last Q, so I cannot track down the exact location of increase but I believe it to be all oil related.  Oil now constitutes 29% of overall sales. International sales make up $0.6 million of sales or 15% of mix. Again, new disclosure so no comparative. Sale price per gram increased to $7.32 from $7.12 likely due to higher…

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Aurora Rundown Q1 F2019 Sept 30, 2018

Open the financial statements and MDA and follow along.   I said this last rundown for ACB….   "As a generalization…. If you take two firms with negative Adj EBITDA and you combine them the first Q will never look pretty [See Canopy-Mettrum].  You might get sales boost and other improvements, but to squeeze out synergies takes more than the first Q.  You throw in a huge ramp of Selling expenses and G&A to Day 1 of rec… and these results shouldn’t be too shocking [Illumination series was a cost with…

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The Year of the Breeder

When I was at the Vancouver Lift Expo in early January 2018, one of the panelists in one of the sessions declared 2018 to be the: ‘Year of Ancillary’. Pretty much nailed it. It’s wasn't that producers were going to immediately stop being fashionable for investors. It meant that the businesses surrounding the entire cannabis complex will start beginning to really hop. Packaging manufacturers. Testing companies. Those that support the core of production and processing and distribution - but aren't it. Lifestyle publications and information sources and bong makers and nutrient companies and…

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On the Road Again

In the aftermath of ‎WeCann™2018, I find myself a little tired, but also fired up 'tween the ears. Over the last while, our crew (and poor Blue) has had to suffer listening to my musings about cannabis being 'disruptive'. Kinda like how Uber and AirBnB are in their respective space. Cannabis ain't a technology tho. It's just a plant, right? Yeah. I've a favorite line I repeat to anyone unlucky enough to have asked my opinion. That cannabis lies at the intersection of many, many commercial roads. Recreational. CPG. Pharma. Ancillary.…

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Molly’s Trading Post: Closed for Business

I'm not going to go forward with the Trading Post. Over WeCann™, I spoke with a raft of people. And I also learned that without knowledge, context, and experience: concepts can be easily misconstrued. There might be miscommunication/misunderstanding. Perhaps someone skips a part. Maybe only get halfway through, and want to go rather than read the manual. Happens all the time. In all these cases, the potential downside is greater than the potential upside for TheCannalysts professionally, and me personally. Because I don't want to see someone beach on the rocks.…

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LHS Q2 F2019 Ended Aug 31, 2018

Open up the fins and MDA and follow along... A few items I would like to note prior to diving into fins… GMP received in June 2018… this will be important if/when Hemp gets pushed through Farm bill. Those big box stores want GMP. Issued more shares to satisfy a USD 6.0 million bill for work done on the 360 complex by Thermo Energy Systems [Leamington co… I might add.] 4 dispensaries operating for the Q.. 3 more open in Q3 with 4 new leases signed. That gets to 11 vs…

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State Monopolies and The Investor

I’ve railed at various times about the creation of State Monopolies to distribute cannabis. I’ve experience with them in my professional life - notably power, and interacting within the booze regime in Alberta, where I’d acquired an importation license to import tequila and craft beer from the states. It seems right to put all of it in one place, and explain why these Zombies of the State are an anachronism in the 21st century: utterly vulgar for consumers, businesses, investors, and ultimately......the citizen. When the pure, naked, and bottomless greed of…

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