Organigram – Structure and Current State – 04/18

I haven't taken a really in depth look at our erstwhile Atlantic Canadian producer since they initially lost their organic certification over mother plant contamination a year ago. The financial hit they took - luckily in very early stages - limited the ultimate damage. One could say that pesticides were going to pop up somewhere. It got the playing field measured, and they pulled the card that happened to get picked. I was a lot harsher on them at the time, but being it's supply chain, and not some other subunit stapling their ties to the desk, I was not too forgiving. Looking at…

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Aphria – Structure & Current State – 04/18

I’ve never run Aphria through the ‘ol mollytime Number Crunching Machine© . The benefit of havingu/GoBlueCdn on speed dial - he’s been on their ops for awhile. Our sub has a lot of followers of these guys: likely attracted by low cost, EBITDA positive sales, and dreams of international expansion - under a balance sheet that isn’t loading G&A like a starving man at an all you can eat buffet - is a bit of a rarity in the industry. Yet still….. a gap to profitability exists. Let’s take a run through the financials, and see if there is anything lurking under Vic’s capital…

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Hedging – Good, Bad, the Dirty

Communication is all about clarity. We communicate some piece of information, the recipient gets it. Straightforward on the face of it. Speaking about trading will typically be succinct, focused, and very clear when complete.The ‘audience’ has as many expectations as the speaker though: one should know the context and purpose of the information they are getting to a specific discourse.I occasionally drop into jargon or analogy. It’s a personal weakness: I assume the audience will have the appropriate context of the situation, and knowledge of the context. It’s also a habit. I was on a recorded line for a decade, and use as few…

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Aurora Cannabis Q3 F2018 Rundown

Ok… pull up the financial statements and the MDA to follow along.Sales increased $4,400 to $16,100 or 38%$1,072 for Cannabis Sales to a total of $10,813 an 11% increase QoQ$554 Cdn Cannabis up 9% +$670 oil up 44% -$152 European Cannabis Sales down 6% [quite surprised that this dropped given new sales to Italy. I have heard rumours of German product not clearing customs, this net decrease might be an manifestation of that]$2,979 Construction Revenue [Larssen] – New revenue Category +$349 Service Revenue to a total of $2,308 an 18% QoQ increaseOf Note: ACB reduced their reliance on Other LP Sales for the Q,…

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Organigram Q2 F2018 Rundown

OGI evidenced a 20% increase in sales or $532k QoQ [net sales including unused sales credit increased $1 million and 37%] driven largely by strong oil sales up 32% by volume and flower up 22% by weight. Oil sales by volume is at a record 552k ML, and flower of 238 kg has not yet reached the peak reached in Q ended Nov/2016 of 260 kg. As both the volume and weight increases are in excess of the Sales increase of 20% then price per volume and/or weight decreased. No revenue per germ or per ML is provided.Also of note, Sales per Average Patient…

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