RE:Supreme Cannabis Sees Revenues Decline 22.6% To $13.6 MillioAwareInvestor wrote: Supreme Cannabis last night reported its third quarter 2021 financial results, reporting net revenues of $13.6 million, which amounted to a 22.6% quarter over quarter decrease in sales. The company managed to post a positive adjusted EBITDA figure however, of just $460.
If there is anybody on the BB or invests in anything other than essesntial goods is shocked by the decline in revenues, you have not been listening to the experts and the CEOs. No it is not a intentional ploy by Beena so that it looks like the sale to WEED is beneficial. Look around and read all of the MJ companies ERs. They are all coming up short.
I have been stating this for awhile. We are in the middle of a wordwide pandemic and that the majoity of this country (where Fire supplies) is in a "stay at home" order or similiar type lockdown restrictions. Here in Ontario (where Fire is based) only "essential workers" should be going to work and it is incumbent on the employer to ensure that people who can work from home do. This has been in place (off and on) pretty well for the past six months.
DO YOU NOT THINK THIS WOULD IMPACT THIS COMPANY FROM AN OPERATIONS PERSPECTIVE? If you truly look at this company's ER, I think it is an indication of what the potential is of FIRE. To pull out a small profit in these market conditions and the shortest reporting quarter and have three quarters of profit in a row during a pandemic is quite remarkable.
I still consult to a number of companies and presently three of those just filed under CCAA and I am now a creditor. Take your blinders off people and look at the macro economics of the situation. You will do and feel much better.
Sorry for the rant.
Cheers