Post by
BattleshipBG on Dec 21, 2020 8:31am
Q3 2020 Update
It seems it taking me longer and longer to write these quarterly updates.
2020 has been mostly a success for CO2 Gro. Would I liked to have seen a couple big orders close, of course. But the size of growers that are trialing the technology if encouraging.
The consistent delays in feasibility studies is frustrating. Some of the delays are certainly due to COVID but the company simply needs to execute better.
The main goal in 2020 was to reach EBITDA positive which was not achieved. The long sales cycle was the reason for not meeting this goal. Again, I'm sure COVID played a role in the long sales cycles but excuses only get you so far.
The value proposition of the technology could not be clearer. The grower that most recently purchased a system required 7% return on investment in CO2 delivery technology. GROW has been able to increase cannabis yield by 30%. The investment in CO2 delivery technology seems like a no brainer.
Once we get some early adopters with some real square footage on board, I think others will follow.
https://battleshipinvesting.com/co2-gro-q3-2020-financials/
Comment by
BattleshipBG on Dec 21, 2020 8:45am
Forgive the typos. I need to read my stuff over more thoroughly.
Comment by
SpenceW15 on Dec 21, 2020 11:06am
Happy to have been on the recieving end of your latest due dilligence (even if delayed) and resutling content. Cheers! S
Comment by
TruthBeTold7 on Dec 21, 2020 2:08pm
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Comment by
Hooveson on Dec 21, 2020 3:23pm
Yup, always appreciated, Battleship. And in line with my own research and sentiments. It's a slow climb, but we're climbing nonetheless. And 2021 def shows promise to deliver a ramp-up in fundamentals.
Comment by
cashmein on Dec 22, 2020 6:58pm
I agree that C-19 is a major reason for pushback of Grow's upside. Although a vaccine is welcome, we're in this for a while longer. Hope for the New Year that the sales team can get more trials going. It's the only way contracts will be signed. Anxious to hear from the Emirates and Mexico. 2021 has to be a great year. Go Grow grow