48North Cannabis Corp. V.NRTH

RE:RE:RE:RE:On OCT 1st, 48Nor should be able to provide better financial

[ipanema]

Hi Uptown 59, I'm not sure I understand all your points but with respect to EBITDA my point is that the Fair Value adjustment on Biological assets and Inventories is a non cash adjustment like depreciation and most companies, especially the larger ones, reverse it out when arriving at their EBITDA. When a company in this sector is growing that can be a very material amount as will be the case in the quarter ending September 30 for NRTH.

This is permitted to be adjusted by companies as  EBITDA is a non GAAP metric in that it is not a recognised metric in use by IFRS or US GAAP. However all analysts and fundamentalist will reverse it out when doing peer comarisons.

Remember the main reporting statements are the Balance Sheet and Income Statement both reflect the Fair Market Adjustment but the EBITDA which is normally buried deep in the MD&A notes or sometimes in the Fin Stats is what I want to see changed.

I'm off up north into the wilderness for a few days so will not be able to engage in further exchanges until my return.

GLTA.