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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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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CannTrust Q1 F2019 Rundown – March 31, 2019

Open up the fins and MDA and follow along. Sales: CannTrust sales increased by $0.7 million or 4% QoQ.  While their Medical sales increased by 13% their wholesale sales dropped by 6%. Extracts growth powered the sales increase for the period and accounts for 55% of cannabis sales up from 48% last Q. Medical sales were consistent in both increases to flower and extracts at 13%.  Flower makes up 28% of Medical sales with Extracts bringing in a strong 72% of revenues. Patient growth increased by 10,000 to 68,000 or 17%.  But as Medical sales increased only 13% the patients are not buying as…

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TREND Analysis – CannTrust: “Gas in the Tank”

I thought it would be good, given TRST gave Q3F19 guidance yesterday, to put up the Trend Analysis for TRST to see how much "gas they had in the tank". TRST gave guidance that they harvested a good amount of product in Q3 [not graphed above], their GM % will rebounding to a figure higher than the previous 3 Q's and negative EBITDA was sliced in half. (These positives went to battle with the equity raise bouncing the stock price around considerably yesterday.) Yet TRST share a similar deficiency to a number of the other LP's... being their FG Inventory is considerably below sales…

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Inventory in the first Q of Rec- Booking Costs and IFRS VooDoo!! Chickens have come home to roost.

I started paying attention and writing about this industry because of my surprise of how you could sell $1 worth of cannabis and show a gross margin greater than the selling price. In my world, that was very new! Yes... IFRS voodoo! The practice of carrying inventory above the lesser of its actual cost or net realizable value. This is done by running an entry through the income statement that GROSSES UP Inventory to a management determined value of no greater than the Selling price less Selling Costs less the costs already incurred. The latter item is on the balance sheet. Then when you…

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