New financials on sedar!
GHG has just filed its annual finacials for 2019, these can be found as usual on sedar. While they did post indeed a loss for 2019, mostly due to the write down of the New Brunswick harvest and the management compensation (which is share based, so the losses caused by that are in fact paper losses), things are looking quite promissing for 2020:
1. when looking at the information regarding the joint ventures (page 16), you'll see that the JV in Oregon, Covered Bridge Acres Ltd. is already profitable. They generated a profit of $120k in 2019, and that despite not having even sold all biomass during that financial year (only approximately 66%).
The 2019 harvest, which becomes ready for sale now, has a 50% higher CBD content and 30% more biomass, so the profit could more than double during this year. Not even taking into account the winter crop they grow in their greenhouses.
2. No write downs. The Oregon project is developing well so there will be no bad news on this side.
3. The drone project they have with QWorx could be another source of revenue.
If mangement does not go all crazy with their own compensation like in the last financial year (but I guess they did this because they knew already their plans and potential for this year), 2020 could be really the year GHG finally becomes a profitable business.