Green Market Report's Marijuana Money June 19, 2020

We wish everyone a Happy Juneteenth. We stand with the protestors and Green Market Report has made donations to a variety of charities. We will strive to make more efforts at covering minority executives in our Executive Spotlight and authors in our Friday Book Club as well as in our general reporting.

 

Earnings continue to roll in. MJardin Group, Inc.  (OTCQX: MJARF) reported results  fiscal year ending December 2019, with revenue falling to $26.7 million versus $27.5 million in 2018. In addition to the drop in revenue, MJardin delivered a 2019 net loss of $267.5 million versus $81.4 million in 2018.

 

Fire & Flower Holdings Corp. (OTCQX: FFLWF) reported total revenue of $23.1 million for the first-quarter fiscal 2020 ending May 2, versus revenue of $9.5 million in the first quarter of fiscal 2019  

 

Multi-state operator 4Front Ventures (OTC:FFNTF) reported fourth-quarter revenue increased 525% to $17.5 million over last year’s revenue for the same time period. 2019 revenue increased 786% to $31 million. first quarter looks to be increasing 36% sequentially to $23.8m.

 

High Tide Inc. (OTCQB: HITIF)  reported its financial and operating results for the second quarter of fiscal 2020 ending April 30, 2020 with revenue increasing by 197%, to $19.57 million from $6.60 million for the same quarter last year.

 

 MedMen (MMNFF)co-founder Adam Bierman, has stepped down as a member of the board of directors. His co-founder Andrew Modlin, has also stepped down as an observer to the company’s board of directors.

 

Black Tie CBD filed a lawsuit against High Times for the canceled Hemp Cup. Black Tie was a sponsor and had apparently forwarded $25,000 for the event, which was canceled due to COVID. High Times has not refunded the money despite saying publicly it would do so. 

 

Mydecine (MYCO.CN) (NLBIF) is quickly upping its fungi authority. The mycology-focused company has signed an agreement with Applied Pharmaceutical Innovation (API), a translational commercial drug institute at the University of Alberta’s Faculty of Pharmacy and Pharmaceutical Sciences.

 

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