Aurora Cannabis – Structure and Current State 05/18

Well, their financials are becoming a phone book. And the breadth of their business topology is wide. I haven't been able to do it justice, but, in tandem with the last look - there is a picture emerging. I've been jammed past couple of days....Straight to it:Sales ramping, but curious to see A/R expansion. They’ve stopped aging them for some reason - but $3.4MM of it looks to be interco lending.Inventory detail very good. Benchmark as far as I’ve seen in sector.Doing a lot of things everywhere. More focused than CGC, but still. Many, many balls in the air. Speaking of air, Battley’s gonna…

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Aurora Cannabis – Structure & Current State – 02/18

To say approaching ACB’s capital structure and liabilities is ‘challenging’… understatement. I’ll try and approach this as linear as I can. Note 5 The gain on derivatives in note 5a & 5b can essentially be boiled down to last fall’s run on share prices. The complexity of atomizing line items is extreme, and I’ll leave it at that1. Note 11 provides details of the CanvasRx acquisition, and subsequent 2017 payments to them for performance milestones hit. ACB has issued some 8MM shares at a WAP of $2.25 over the course of 2017, and $3.4MM in cash. The purchase price of CanvasRx is presented as…

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