Post by
Thereelmccoy on Nov 04, 2018 10:19am
Operating expenses
Just thought I'd share this for what it's worth.
Found it very interesting comparing some operating costs with Hempco (HEMP) vs Eastwest (EAST), specifically month lease obligations.
EAST below
On May 8, 2018, the Company entered into a sublease agreement for lease of office space for a period of 5 years expiring on May 31, 2023 which includes minimum lease payments of approximately $41,556 per annum.
HEMP
On November 18, 2016, the Company entered into an agreement for space in Nisku, Alberta. The lease has a ten-year term, from January 1, 2017 to December 3, 2026. Monthly lease payments are $60,667 per month for the first year, $67,667 per month for the second year, $72,333 per month for the third year, $81,667 per month for the fourth year, and $86,333 per month thereafter. The Company has the option to extend the lease for a further five-year period at a rate to be agreed. The Company’s annual contractual commitments under its leases for the next five years are as follows: Year Amount $ 2018 851,671 2019 849,332 2020 942,668 2021 1,017,332 2022 1,035,996
WOW !!
Comment by
Urbani on Nov 04, 2018 6:56pm
There... I emailed the CEO of EAST today and he said they have sub leased the office space as they are moving to Penticton some of the ooerations. They are now paying 2,000 a Month or 24,000 per Year downtown Vancouver not 41,000. But yes HEMP seems like a scam for sure now... What ACB is doing with them doesn't make any sense.
Comment by
jnimbusman on Nov 05, 2018 8:16am
Sounds like our share prices should be reversed thanks for for the update