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70 Articles

Financial Analysis

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 we read more

When I spoke on the lift Panel in Toronto in June 2019, I mentioned that this industry “has a lot of unexpl read more

Cresco Labs- Income Statement Drivers & Implied Breakeven Sales Levels

These will start to get more interesting as we add Q's. As the 4th Q from F2018 is not a standalone, we have not included same. read more

These will start to get more interesting as we add Q's. As the 4th Q from F2018 is not a standalone, we have read more

1933 Industries – April 30, 2019 – Breakeven and SGA SBC as % of Sales

Here is a company that has languished over the past 6 Q's with a total increase in sales over that period of $2.1 million. QoQ sales finally showed a bit of a bump of 24%. read more

Here is a company that has languished over the past 6 Q's with a total increase in sales over that period of read more

“Liberty Health Science – Q4 F2019 Rundown” Backing into a Q4 NIGHTMARE!!

If you have read my work in the past around Q4’s where the issuer doesn’t give a stand-alone Q4, and I have to “Back into” their Q4 by subtracting Full Year fins from 9-mo read more

If you have read my work in the past around Q4’s where the issuer doesn’t give a stand-alone Q4, and I ha read more

A Conservative Guess at Canopy Growth Q4 F2019 EBITDA from Canadian Operations

Some times you get a question from an analyst on the conference call that perks the ears. When questioned about internationals SGA drag on the conference call, this is what the read more

Some times you get a question from an analyst on the conference call that perks the ears. When questioned read more

Aurora +EBITDA June 30/19 Flag Plant: Update after March 31, 2019

Readers might recall in March/19 I looked at 12 sensitivities to determine how Aurora might reach their +EBITDA Flag Plant for the Q ending June 30, 2019. https://thecannalysts.bl read more

Readers might recall in March/19 I looked at 12 sensitivities to determine how Aurora might reach their +EBIT read more

North American Large LP/MSO Peer Comparisons: Gross Margin %, Sales required to Breakeven on Net Operating Profit and EBITDA

Since we have all of the March 31, 2019 reporting in... I thought I would provide the latest peer comps. read more

Since we have all of the March 31, 2019 reporting in... I thought I would provide the latest peer comps. read more

Canopy Growth Q4 F2019 Rundown – March 31, 2019

The summary is Cannabis sales down in Medical and RecGross Margin downOperating Expenses upAdj EBITDA downLots of cash in bank Open up the financial statements and MDA and l read more

The summary is Cannabis sales down in Medical and RecGross Margin downOperating Expenses upAdj EBITDA down read more