Hill Inc V.HILL

Alternate Symbol(s): HSEEF

Hill Incorporated, formerly Hill Street Beverage Company Inc., is a Canada-based progressive bioscience implementation company. It is engaged in building pathways to better and healthier living by leveraging CPG expertise to commercialize technologies to craft superior cannabis solutions and non-alcoholic beverage products globally. It operates through two lines of business: Hill Street Beverages and Hill Avenue Cannabis. Hill Street Beverages represents the Company’s alcohol-free consumer beverage marketing and distribution business. It includes Vin(Zero) alcohol-free wine in Canada, and in the United States. Hill Avenue Cannabis is the DehydraTECH technology licensing, product development and commercialization partner to progressive cannabis brands. It also provides DehydraTECH-enabled business-to-business (B2B) solutions for both cannabis extractors and ingredient suppliers and consumer packaged goods (CPG) manufacturers whose products are infused with cannabis and or hemp extracts.

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Post by Myopinion57on Oct 29, 2020 10:23am

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FY2020 Year End Financial Highlights

• Gross revenue of $2.614 million, up 7% y/y;

• Gross profit of $0.726 million up 68% y/y;

• Gross profit of 31% of gross revenue up from 20% or 11 percentage points y/y;

• Net loss of $3.862 million, an improvement of 38% y/y. Includes $1.242 million in one-time and $677 million in non-cash charges;

• End of year cash position of $0.7 million.

"With the global pandemic taking its toll on all aspects of our lives, especially small businesses like ours, we couldn't be happier to have generated growth in revenues this fiscal year. With the challenges we have experienced in our supply chain as a result of COVID-19 hopefully behind us, and with new manufacturing partnerships we have secured, we are looking forward to the exciting launch of our new cannabis infused beverage portfolio," said Terry Donnelly, Chairman & CEO of Hill Street.

"Nearly all the alcohol-free revenue earned during the year came from our existing retail customers, whereas the prior two fiscal years were growth due mainly from the acquisition of new retail accounts," stated June Nicholson, Chief Operating Officer of Hill Street. "As a result of our investments in retail shelf space, we have created one of the best-selling brands in the alcohol-free sector in Canada. We are now well positioned for growth internationally, especially through our growing ecommerce channel."

Hill Street's CFO, Hinta Chambers stated, "We were able to dramatically reduce our ordinary operating expenses when the pandemic hit to preserve capital without seeing a dramatic reduction in revenues. In fact, we started to see significant new revenues from online customers in the USA seeking out our products, resulting in a 242% year over year increase in total online revenues in Q4. With our new partnerships in cannabis beverage manufacturing, coupled with the strong brand awareness and consumer acceptance we have created in the alcohol-free segment, we are well positioned for growth in the cannabis beverage market in 2021."