US MSO Peer Comparison – SGA & SBC as % of Sales

With most of the US MSO's with a stand alone Q reported... we begin to drill down into the operating results of US MSOs. Given not all MSO's report Selling Expenses, i would suggest the reader focus on Aggregate SGA for comparison purposes. Individual Trend Analysis graphs will follow.

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Rundown: Organigram Q3 F2019 Ended May 31, 2019

It is always nice to get a fairly straightforward set of financials and a pleasure given the disclosure OGI offers.  Open the Financials and the MDA and let’s get to it. Sales: Table 1: Sales Delta’s Total sales retrenched 8% to $24.8 million from $27 million QoQ. Medical sales totaled $2.8 million, increasing $0.4 million and were pretty evenly split between flower and oil.  Rec sales showed a 11% decrease in rec oil to $3.9 million and a 11% reduction in rec flower sales to $17.9 million from $20.1 million. Rec is still the dominant factor in sales mix at 88% down from 91%…

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CannTrust – CSI’ing The Blast Crater

When I spoke on the lift Panel in Toronto in June 2019, I mentioned that this industry “has a lot of unexploded landmines that have yet to go off”.  Well, one landmine went off yesterday that will have implications far beyond the LP that stepped on the trigger mechanism.  And the thing about “landmines” is they are largely hidden until explosion.  This one is no different. I have gone back to look at my spreads and analysis to see if there were any signs that there was a landmine of the nature of producing cannabis in unlicensed grow rooms.  Here are the Bio Assets…

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