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Planet 13 Holdings Inc C.PLTH

Alternate Symbol(s):  PLNH

Planet 13 Holdings Inc. is a vertically integrated cultivator and provider of cannabis and cannabis-infused products in the States of Nevada, California, Florida and Illinois. The Company owns and manufactures cannabis products under various brands, including HaHa (gummies and beverages), Dreamland (chocolates), TRENDI (vapes and concentrates), Medizin (flower, vapes, concentrates), and Leaf and Vine (vapes). Through its subsidiaries in Nevada, it holds six licenses for cultivation (three medical and three adult-use), six Nevada production licenses (three medical and three adult-use), three Nevada dispensary licenses (one medical and two adult-use), one Nevada distribution license, one California adult-use dispensary license, two California distribution license, one California adult-use manufacturer license, and one Illinois conditional adult-use dispensary license.


CSE:PLTH - Post by User

Bullboard Posts
Post by ImmanuelK1774on Jun 07, 2019 1:35pm
117 Views
Post# 29806670

Sales per sq. ft.

Sales per sq. ft.The LV SS is running at approximately $4300 sales per sq. ft.  The new location is 40,000 sq.ft but not all of that footage will be selling space.  I assume 10,000 sq. ft. conservately.  If I discountthe Sales/sq. ft. actuals from LV to $3500/ft then this new L.A. facility should be able to generate revenue of $35 M in its 1st full year of operation.  At a 30% ebitda margin (in line with California MedMen targets) then the store will contribute $10.5 M in EBITDA.  MedMen trade at 21x EBITDA which seems outragious but even if I were to discount that by 30% to 15x then the new store would have a value of 160 M USD (215 M CAD).  Thats C$1.40 / share of value to the stock from just one new store for an acquisition price of $10 M and $5 - $10 M of capex.  This stock is either going to go up a lot or will be acquired by an MSO looking for 2 (for now) flagship properties.
Bullboard Posts