Green Market Report's Marijuana Money October 16, 2020

Markets were closed this past monday to celebrate Columbus day or Indigenous Peoples day. Earnings season is starting to pick up and several companies began releasing numbers this week. Some official and some unaudited and unofficial

Aphria (APHA) reported its first-quarter revenue of $69.6 million in the first quarter for fiscal year 2021. This represents strong growth, showing a 23% increase from the prior quarter, as well as the sixth consecutive quarter of growth. Aphria reported a net loss of $5.1 million for the first fiscal quarter, showing a significant decrease from the prior quarter’s loss of $98.8 million. 

Harborside Inc. (OTCQX: HBORF) released preliminary unaudited third-quarter 2020 results for the period ending September 30 with gross revenue for the quarter is expected to exceed $18.5 million.  Net revenue for the quarter ending in June was $15.2 million with net losses of $1.7 million.  The company did not release any information with regards to profits or losses. investors may need to be reminded that Harborside changed its ticker symbol from “HSDEF” to “HBORF” on the OTCQX market effective today October 7, 2020.

cbdMD, Inc. (NYSE: YCBD) reported preliminary financial results for the fourth quarter of and the year ending September 30, 2020. The company said that net sales revenue for fiscal 2020 is expected to range between $41.7 and $41.8 compared to $23.7 million in fiscal 2019. cbdMD also stated that its net sales revenue for the fourth quarter of fiscal 2020 are expected to range between $11.5 and $11.7 million compared to $9.54 million in the fourth quarter of fiscal 2019. the company did not report any profit or loss numbers.

The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF) reported its third-quarter financial results for the period ended August 31, 2020. The company said that net revenue for the third quarter of 2020 was $18.1 million, a 10% increase from $16.5 million in the third quarter of 2019. The company delivered a net loss of $3 million.

Flower One Holdings Inc. (CSE: FONE) (OTCQX: FLOOF) announced preliminary third-quarter revenue of $11.5 million surpassing its Q3 2020 revenue guidance range of $9.8 million and $10.8 million. The company did not state whether it had any profits or net losses.

Fundraising is picking up on the private side. Michigan-based privately-owned cannabis company Gage Cannabis Co. has launched a Regulation A, Tier 2, equity financing.  The company’s Executive Chairman is industry leader Bruce Linton. Gage is hoping to raise roughly $49 million. 

 Drop Delivery, a cannabis delivery management solution, raised $1M through equity crowdfunding.

 

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