WeedMD 1Q F2019 – March 31, 2019 “In Pictures”

Income Statement Drivers and Breakeven: Trend Sales up 14%... but the worrisome concern is that 73% by KG of Wholesale ($3.3 million) or 20% by Wholesale revenue (as per conference call) went to Extract Grade.  That means Adult rec was only $660k.  Soof the $3.6 million in sale $2.6 million (72%) went to an extractor. I know WMD has a reputation for good product. I have tried some of it and was suitably impressed.  But the amount of product that likely lacked bag appeal at this stage of their development should be monitored going forward. They are launching a new rec brand next Thursday…

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CannTrust Waterfall: Projected Yields from Biological Assets, Harvest, Sale (KGs)

You can see the ramp up of the new capacity at TRST as Projected Yield from Bio Assets has shown substantial growth. They are not "Aurora like" in their Projected Yields coming to Harvest with a 68% and 72% in past two Q's vs ACB 91%. This could be because they MIGHT be growing chemovars that need more than 12 weeks [one quarter] or they might not have the new production space dialed in for actual harvest capacity. EDIT: a community member pointed out that the average grow is 110 days according to Notes to Fins. As 110 days is > than 90 day…

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Aurora -Waterfall: Projected Yield Bios, Harvest and Sold [KGs]

I usually start these Trends with Canopy as they are the market cap leader. However, ACB, CannTrust and Ogi have all the elements for this graph so I will start with ACB and move to OGI and TRST before getting to the rest of the Peer group... ACB also happen to be the market leader by harvest last Q. I am tracking this for a few reasons. I want to see trend lines to see how Bios get transferred into inventory then soldI want to see how accurate the conversion is from Projected Yield to Harvest QoQI want to see how the KGs Sold…

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Peer Comparisons in KGs: Projected Yield from Bio Assets, Harvest, Sold, and Delta of Harvest to Sold

This is anew set of graphs I am playing with. It is a little frustrating as not every LP provides each element of the graph. Aphria only provides one element - KGs Sold. Whereas Canopy does not provide Projected Yield from Bio Assets. And Tilray, being US GAAP, doesn't have Bio Assets. Ill start posting their respective trends later this week. Aurora and CannTrust Trend graphs will tell an interesting story.

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48 North Q1F2019 “In Pictures”

As “Gas in the Tank” picked up last Q…. it was going to be a hard trudge to repeat 4Q F2018 sales when they blew out a bunch of inventory to do it.  They entered Q1 F19 with under $1 million in inventory. The good news is they now have $2.4 million in inventory entering Q2 F19, which is a $1.1 million more than when they entered Q4 F2018.  Also, their biological assets have increased substantially and are also up $1 million over Q4F18 to $1.9 million. Take a look through the pics… if you have any Q’s… put them in The Dive Bar…

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