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West Island Brands Inc C.WIB

Alternate Symbol(s):  WIBFF

West Island Brands Inc. is a Canada-based multi-faceted cannabis company. The Company operates through its subsidiary, RoyalMax Biotechnology Canada Inc., which is a Health Canada license holder with cultivation license, processing, medical sales and sales licenses. The Company works with Yunify Natural Technologies, a Quebec-based health and personal care research and innovation company that develop products for West Island, including topicals and ionic mists. The Company and Yunify have developed a spray mist that captures cannabis smoke odors through Yunify’s Natural Ions Encapsulation technology; cannabis odors are trapped, and they are neutralized. Its brands include OUEST, CITOYEN and Silk Road. OUEST brand is represented by Grandpa's Stash and Jelly Cake flower offerings. CITOYEN brand is represented by the King Louis and Clementine Punch flower offerings. Its Silk Road is a hashish blends.


CSE:WIB - Post by User

Post by KozmoTon Nov 29, 2021 9:24pm
182 Views
Post# 34178331

WTF is this a joke?

WTF is this a joke?REVENUE
Sales $601,967
Cost of sales ($975,539)
Gross margin $(373,572)

They hid in the small print that their Dorval grow facility is dead so to sell cannabis they must be buying it from an actual grower and then turning around and packaging and selling it as their own but they've never disclosed any of this at all.  From their cost of sales it would seem they are literally paying more for their supply than they are getting from sales.

That kind of incompetemnce takes a lot of effort.  That's like going and buying toilet paper at Costco, repackaging and shipping and selling it ... AT A LOSS?!?!?!

I jusyt skimmed the FS so far, maybe there is some explanation I'll get to tomorrow... but if what I read is what it seems these guys are in some serious f*cking trouble.

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