Liberty Health Sciences Q2 F2019

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 the 10-12 to be open before F2019 year end and 16-18 before F2020…

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Aurora Cannabis Q4 F2018 Rundown

Open up the fins and the MDA and follow along.First off.. BIG thanks t Glen their CFO for having the courtesy to provide QoQ narrative on OPEX versus YoY comparisons. You have heard me grumble on how useless YoY comparisons are in a fast growing industry like this, so to provide colour is appreciated. Also… they let TheCannalysts ask a couple of Q’s. How about that!So let’s dig in…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…

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Aphria Q1 F19 Aug 31, 2018 Rundown

I do want to add a comment before we get going….  Aphria always had an industry leading MDA in my opinion.  They stepped up their game considerably [as did ACB last Q].  They increased disclosure of Gain on Bios, FVI, QoQ impacts on cost per gram, and their detail on construction cost overruns and plant destruction were [to me] the type of disclosure the industry should strive towards.  They could always make me more happy by: providing kg’s harvested, sold and held in inventory like CGC or providing QoQ expense commentary as ACB added last Q providing FG and WIP break downs on inventory…

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CannTrust Q3 F2018 Rundown

Well ain’t you a pleasure to review!! Positive EBITDA, FG inv growth, strong sales growth, Nice Production to Sales delta.  Rogers and Ravensdale will be finding work pretty quickly given these results. Open up the Fins and MDA and follow along. Sales An increase of 39% to $12.6 million [comparable to Tilray!!] Grams sold of flower dropped 14% QoQ but price per gram went up 16% to $8.77 = $3.5 million Extract went up to a new record of 699 kgs up 17% with price dropping less than 1% to $8.89 = $6.2 Hello wholesale…267 kgs at $6.40 = $1.7 million Other up $1…

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Tilray Q2 F2018 Rundown

Open up the fins and MDA and follow along.As this is my first Tilray rundown I trust the Community will be easy on me as I learn more about them. Usually it takes a few rundowns to settle in.SalesTilray increased sales to USD 9.7 million [C$ 12.8] a 25% increase QoQ. This was on 1514 KGs [1299 kgs last q] at a price per gram of C$8.38 vs C$7.55 last Q. A greater mix of higher value extracts – 46% up from 40% - is the reason. Cdn sales were up 24%, while non Cdn were up 77% but an insignificant amount of US$…

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