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Newstrike Brands Ltd NWKRF

"Newstrike Brands Ltd is a licensed producer and cultivator of medical cannabis based in Brantford, Ontario. The company cultivates and sells both forms including dried and fresh marihuana."


OTCPK:NWKRF - Post by User

Comment by JDoublePon Sep 07, 2017 12:47pm
87 Views
Post# 26667123

RE:I'm guessing that the reason the stock is halted is because

RE:I'm guessing that the reason the stock is halted is becauseIn the MD&A it also states that they have changed their YE to December 31, XXXX.

"Given the significant changes that have resulted in all aspects of Newstrike’s business and operations as a result of the Transaction and in accordance with IFRS 3, on August 31, 2017, the Company’s Board of Directors unanimously resolved to change the Company’s fiscal year-end from March 31 to December 31. The accompanying Interim Financial Statements have been prepared in expectation of this change in fiscal year-end. The immediate and practical effect of this change is that it brings Newstrike’s fiscal year-end in-line with that of HPI and, going forward, permits the reader to undertake a comparative review of previous fiscal periods that are reflective of the historical financial performance of Newstrike’s current cannabis-focused business, rather than forcing the reader to try to identify and then attempt to differentiate the cannabis-related expenditures and financial information in previous fiscal periods from expenditures, expenses and other costs related to Newstrike’s earlier focus on mining and resource exploration."
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