GREY:ORVRF - Post by User
Post by
JGibbson Apr 14, 2021 3:15pm
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Post# 32994302
Why is ORCD so under the radar?!
Why is ORCD so under the radar?!
ORCD Orchid Ventures Net profitable US Cannabis company that no one is talking about. Keep in mind they only have a $20 million market cap OTC:ORVRF
The math adds up to one hell of an opportunity imo.
Their last financials operating results of fiscal 2020 ...
Total revenues were $1.95 million, a 169% increase from the same quarter in 2020. The increase was attributed to the Company's launch of its wholly owned subsidiary PurTec Delivery Systems and new revenue generated from that business, despite the manufacturing slow downs due to the COVID-19 pandemic.
Gross profit was $1.07 million, compared to a loss of $(194,720) during Q1 2020. The increase in gross margin from the prior year is due to the Company's direct focus on executing their new business strategy, which is starting to gain traction as it enhances their ability to drive revenue outside of direct cannabis touching operations that inherently provide lower margins. Instead, the company is focusing on offering innovative products and services to the Cannabis industry that deliver higher margins. Orchid's strategic shift is outlined in the "Growth Strategy" section of the MD&A.
Expenses including non-cash items in Q1 2021 were $975,748, a significant reduction compared to $1.9 million during Q1 2020. This change over prior year represents managements' commitment to reducing expenses in all areas, including management and consultant fees, plus wages and benefits. Moving forward, management intends to remain focused on delivering sustained profitability.
Ya their cash position was low since their last reported financials but since then they have raised $4.2 million cash.
https://www.accesswire.com/624970/Orchid-Ventures-Announces-2021-Q1-Financial-Results