RE:RE:RE:Financals are out on sedar ! It is a very mis-understood stock imo, however, these results should be viewed as positive. A lot of this misunderstanding is due to the regulations in Washington.
Washington doesnt allow out of state residents to own cannabis licenses. So what Cannex has done is that it has set up different structures to effectively control and reap the entire economics of the cannabis license/operation (NWCS and 7Point). For example, lets say NWCS generates $100 from cannabis sales. Through the different structures Cannex has set up, Cannex will charge NWCS ~$100 to effectively gain access to this $100 in revenues. So Cannex would charge NWCS a fee for rent, licensing, consulting, etc. equivalent to almost that $100 (NWCS would only keep enough to pay for capex/taxes - everything else goes to Cannex). It is structured this way to get around the regulations. It is also a very typical structure used in states that dont allow out of state ownership or in states where cannabis is not-for-profit (look at iAnthus and their investment in Mayflower - its structured the exact same way).
the bottom line here is that Cannex's economics are tied completely to the economics of cannabis and effectively has access to the economics of the largest operator in Washington.
check out this site - tracks the revenue of the operators in Washington. for the first 6 months of 2018, both NCWS and 7Point have generated US$24 million in revenue, up almost 80% y/y - the stock doesnt reflect that one bit. This data is also consistent with the $3.6 mm you cited above.
https://502data.com/allproducerprocessors
I believe the stock will really start to move very soon - likely management and the two sell-side analysts that cover CNNX will start to market and educate investors now that results have been released.
End of the day, brands is what matter. Cannex has the leading brands in Washington and once Jetty closes, Cannex will also own some of the best brands in Cali.