OTCPK:FFLWF - Post by User
Comment by
whoknowson Dec 15, 2020 8:17am
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Post# 32107158
RE:They out of business before Easter
RE:They out of business before Easterwhisky11 wrote: For the thirteen weeks ended October 31, 2020 , the Company recorded net comprehensive loss of $25.7 million , or net loss per share, and on a basic and fully diluted basis, of $0.15 . The net comprehensive loss incurred during the quarter was principally due to $53.9 million in extinguishment losses related to the amended of debentures and warrants held by ACT
As of December 15, 2020, the Company was operating a total 67 cannabis retail stores with 37 located in Alberta, 21 stores in Ontario, 7 stores in Saskatchewan and 1 store in each of Manitoba and Yukon territory. Retail revenue for the thirteen weeks ended October 31, 2020 was $26.5 million, an increase of $14.7 million from the prior year and $3.2 million from the previous quarter. The increase in revenue was driven by a larger number of operating retail stores during the quarter and stronger sequential same store sales. Gross profit for the thirteen weeks ended October 31, 2020 was $9 million, an increase of $5.2 million from the prior year and $0.9 million from the previous quarter. Gross profit dollars increased due to the expanded store network and several successful product promotions. The gross margin percentage improved over the prior year with the addition of higher margin cannabis 2.0 products into the sale mix, better product costing and reduced discounting activity on slower moving product. Gross margin percentage was lower over the second quarter as a result of planned traffic- driving promotions.