Munching Through The Financials Reviewed the March 31 financials which they have compared to July 30,2020- and can find 3 mos and different comps
My thoughts fwiw do your own due diligence...
Assets of 9.9 vs 6.6 m but almost all due 2.9 m of the increase is “goodwill”
Good is the decrease in liabilities from 28m to about 10m
But in net shareholders are still negative equity at 62 million from 69 million
Problem is they sold Calyx which was the source of revenue (hence sales Plunged from 3.1 million to negative 4881-a concern re OCF-IMO)
So bottom line loss of 2million for 3 months which is better(but still nasssive given there is now no revenues)
Can work out how long they can survive but without cash infusion it ain’t pretty-IMO
And... for those who follow the cash -what is telling is the negative cash flow of 16 million for the last 6 months vs 1 million in 2020
And in case ya missed it-in the company’s own words (don’t shoot the messenger)
“The Company has been incurring operating losses and cash flow deficits since its inception, as it executes on its business plan to capitalize on the opportunity that is emerging in the United States in the cannabis sector....
, The Company’s operations are not yet self-sustaining. As such, the Company has been depleting its invested capital and is dependent upon obtaining necessary financing from time to time to finance its on-going and planned activities and to cover administrative costs....
As at January 31, 2021, the Company had working capital deficiency of $573,391 (July 31, 2020 – $20,563,341), spent $16,005,293 (2020 - $1,040,320) of cash for operating activities, had not yet achieved profitable operations, had accumulated losses of $62,354,737 (July 31, 2020 - $69,546,199), had shareholders' surplus of $48,279 (July 31, 2020 - $21,899,403 deficit) and expects to incur further losses in the development of its business, all of which describe the material uncertainties that cast significant doubt upon the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on its ability to obtain further funding, manage cash flows, restructure borrowings and recover funds loaned to borrowers that have currently been provided against or recover collateral that secured those loans. There is a significant uncertainty as to whether the Company will be able to continue as a going concern and therefore, whether it will continue its normal business activities and realize its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the consolidated financial statements. These unaudited condensed interim consolidated financial statements do not include adjustments relating to the recoverability and classification of recorded assets or to the amounts and classification of liabilities that might be necessary should the Company not continue as a going concern. These unaudited condensed interim consolidated financial statements do not include the adjustments that would be necessary should the Company be unable to continue as a going concern, which could be material."
So invest or not-don't listen to a moron like me-or any other poster,dog,cat, or whatever
This could run-but not based on the business -its a speculation all the way imo