Q2 2019 numbers You'd think somebody here would actually take the time to post the quarter's numbers... here they are.
GENE Q2 2019
Revenues: $2.47M
Expenses: ~$3 M
Net earnings / loss: -$12.3 M
EPS: -$0.14
(Net loss explanation: about $9 M in one-time losses due to loss of Gene-Etics IP and sale of Canandia).
From MD&A:
During the quarter ended July 31, 2019, net loss was $12,316,041, and higher than prior quarter April 30, 2019 due to:
- Impairment charges o The Company recognized $4,615,003 of impairment charges related to the Gene-Etics IP intangible asset. The Company no longer has an advantageous management contract with Gene Simmons, nor is it going to utilize Gene Simmons’ brand name.
- Loss upon disposition o Effective July 31, 2019, the Company sold its wholly owned subsidiary, Canandia. As a result, the Company has de-recognized Canandia from its books and recorded a net loss from disposition of $4,383,315. o In addition, the Company has classified Canandia’s operation as a “discontinued operation” with a total loss of $648,702.
- Production cost o The Company recognized an inventory production loss of $951,659.
Past 8 quarters:
| SUMMARY OF QUARTERLY RESULTS | | | | | |
| | | | Net loss attributed | EPS | QoQ revenue |
| Three months ended: | Revenue $ | Net loss $ | to common shareholders | loss | increase |
| | | | | | |
| July 31, 2019 | $2,467,267 | $12,316,041 | $12,343,160 | $0.14 | 54 |
| April 30, 2019 | $1,605,101 | $4,622,389 | $4,642,348 | $0.04 | 35 |
| January 31, 2019 | $1,185,307 | $14,276,013 | $14,282,636 | $0.13 | -32 |
| October 31, 2018 | $1,744,428 | $10,727,382 | $10,730,872 | $0.11 | 278 |
| July 31, 2018 | $460,985 | $6,080,014 | $6,074,255 | $0.06 | -65 |
| April 30, 2018 | $1,302,053 | $4,603,431 | $4,624,075 | $0.05 | 91 |
| January 31, 2018 | $682,218 | $6,207,664 | $6,230,070 | $0.08 | 10 |
| October 31, 2017 | $622,326 | $1,723,777 | $1,722,177 | $0.02 | - |