Marijuana Money: April 8, 2022

In just a few weeks Green Market report is hosting its first event of 2022. The Women’s Summit is on April 28, but all genders are welcome. Go the website under the Summits tab to register.

 

New Mexico is now the 18th state to legalize the sale of adult-use cannabis and those sales began last Friday. The state reportedly sold $5 million worth of product by the end of the first weekend.

 

Tilray Brands, Inc. (Nasdaq: TLRY) reported third fiscal quarter revenue increased 23% to $152 million but this fell from the second quarter’s revenue of $155 million and slightly missed the revenue estimates. The company also reported a net income of $52 million.. However, this net income improvement was almost entirely from a $76M non-cash adjustment to the company’s warrant liability and the future value of convertible debentures(which occurs due to the share price falling). 

 

The disgruntled investor lawsuit against Parallel cannabis initially hit the public records as a heavily redacted document. The Judge in the case apparently denied the redaction request and Green Market Report got a look at the complaint in all its glory or gory detail. Essentially Former CEO Beau Wrigley increased the company debt to $300 million while Parallel reduced its revenue projections by 40% in a matter of months. Parallel was also in default on its debts but did not tell potential investors. This story has lots more detail so head to the site to read it.

 

Israeli-based cannabis company InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) also known as Canndoc reported its fiscal year 2021 revenue of $89 million.

 

 The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (OTC: TGODF) reported that in 2021, TGOD’s revenue rose 146% to $39 million. The net loss for the year was $43.5 million. Most troubling was the company’s auditors saying that the accumulated deficit was $487 million and the company remained a going concern.

 

Video Staff


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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