RE:Zenabis Releases Year end 2020 QTR Reporthahahahahaha
i told you - Zenabis releases after market close on the last day for filing. they always release bad news after hours, if it was good - you would have seen the numbers this morning.
Sales $75 million - yes annual sales were up from last year,
but sales in Q4 dropped to $15 million, from $28 million in Q3.
Adjusted EBITDA at year end is an especially uselss measure - extra special useless when the company won't exist much longer.
What matters is the actual annual loss of $70 million - about $17 million in Q3 and $30 million in Q4.
So quarter over quarter revenue cut almost in half, bottom line loss almost doubled.
Zena shows $60 million in inventory - so added to Hexo's own existing inventory and Hexo has a sh*t pile of weed to sell or write down.
Total liabilties and long term debt is $160 million dollars at Dec 31 - and they have $6 million in cash.
Dec 31 is pre-purchase/deal of course, so the numbers are what they are, a past reference
The Q1 financials - which will reflect all the adjustments associated with the Bevo Farm sale and the $50 million debt they took with them, all the fees and charges etc - will be the true measure of what Hexo has bought for $235 million.
I honestly don't think Q1 sales are going to be much better than Q4 - plus they have the Bevo revenue (Q1 into Q2 are Bevo's bigger revenues because of their propagation business).
The big question is why there was such a dramatic drop in sales? I do know sales to Europe and Isreal were suspended, but that wouldn't account for it all.
Q4 revenue $15 million is not good.
Q4 loss of $30 million is not good.