Canopy Growth Corp T.WEED

RE:Next up Canopy

[OptGreen]

Where does this shite come from lou, you haven't got a clue...because Cronos is losing sales says nothing about anything except Cronos. Don;t know where WEED is going to come in and if down for the quarter says nothing about anything going forward.

WEED is not the company of the past, in fact I believe that the turn around for this company is going to be mind blowing...FIRE only deals in premium quality and wouldn't be here if WEED was a loser. This is looking like a house cleaning for the sector. not unlike .Com et al in the past. Just keep those shades handy and load up as these prices will be nothing but a wet dream inthe near future. JMHO....Opt

lou64 wrote: Cronos posts NEGATIVE EARNINGS and then Canopy slated posting of another DISAPPOINTMENT !!

These weed companies were to sell mountains of weed and post bigger big earnings with BILLIONS?

They can not figure out their own business strategy to achieve profitability... Every disappointing quarter they come out saying it is coming in the next quarterly but never materializes

toooooooo flippin funny

Cronos Group Posts Revenues Of $12.6 Million, Net Loss Of $161.6 Million 

  May 7, 2021 8:18 AM   Jay Lutz  0 Comments Cronos Group

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Cronos Group (TSX: CRON) (NASDAQ: CRON) this morning reported its first quarter financial results, leaving investors yet again asking why this company has over a three billion dollar valuation. The company recorded revenues of $12.6 million, along with a net loss of $161.6 million.

Revenues were down 26% on a quarter over quarter basis, falling from $17.4 million in the fourth quarter to $12.6 million in the first quarter of 2021. The company also continued to demonstrate an inability to generate a gross profit, instead posting a gross loss of $2.9 million for the period – an improvement over the gross loss of $6.5 million posted a year ago. 

Operating expenses meanwhile amounted to $40.5 million, with the company seeing $21.9 million in general and administrative expenses, or about $1.73 for every dollar of net revenue it earned. Sales and marketing meanwhile amounted to $10.3 million, followed by R&D expenditures of $5.1 million.

Other income provided a negative impact of $118.1 million, a result of a loss on derivative liabilities of $116.9 million, as well as $1.7 million in impairments on PPE by the company, offset marginally by interest income of $2.3 million.

Looking to the balance sheet, the company has continued to burn cash, with its cash and cash equivalents falling from $1.1 billion to $1.0 billion over the course of the quarter, a function of negative operating cash flows of $46.0 million, as well as finance cash flows of -$9.3 million and investing cash flows of -$9.7 million. Total current assets declined from $1.4 billion to $1.3 billion as the company continues to burn cash at an impressive rate.

Total current liabilities meanwhile climbed from $206.8 million to $302.6 million, a function of derivative liabilities climbing from $163.4 million to $272.3 million. 

Cronos Group last traded at $9.26 on the TSX.