GREY:IVITF - Post by User
Comment by
gamos99on Dec 31, 2019 6:51pm
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Post# 30507305
RE:Invictus financials out. AP Ph 3 West Wing License from HC
RE:Invictus financials out. AP Ph 3 West Wing License from HC Wow. These results are disappointing:
Q3 2019 earnings (period ended Oct. 31, 2019, released Dec. 31, 2019):
Revenue: $840,000 // Gross margin: $246,000 // Expenses: // Net earnings/loss: -$6.7M // Earnings per share: -$0.06 // Cash on hand: $1.04 M
Big disappointment; expected $3M +
Management addresses the shitty sales here in the MD & A: “The company has experienced lower revenue this quarter due to lower consumer demand. To address the declining revenue, the Company continues to explore all revenue sources by working on bulk sales and reaching out to wholesalers and other License Producers and provinces. Through this process, the Company has received positive response and anticipates sales from new outlets in early January.”