Delta 9 Cannabis Inc DLTNF

Healthcare Cannabis

Delta 9 Cannabis Inc. is a Canada-based vertically integrated cannabis company. The Company operates through three segments: Wholesale Cannabis, Retail Cannabis and Merchandise and Devices, and Business to Business. The Company sells cannabis products through its wholesale and retail sales channels and sells its cannabis growing pods to other businesses. Its cannabis products include dried cannabis and pre-rolled joints. Its edibles and vapes include vape pens and concentrates, edibles, and drinkables. The Company, through its wholly owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis products and operates a 95,000-square-foot Health Canada licensed production facility in Winnipeg, Manitoba, Canada. It also owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. It is focused on producing and selling cannabis oils, extracts, and derivative products.

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Delta 9 Cannabis Inc

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Comment by johnaboon May 14, 2020 6:17pm

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Post# 31030155

RE:Results are out....

Reposting from the Press Release;

Operating revenues of $11.75 million for the three-month period ending March 31, 2020, up 109% from $5.63 million for the same quarter last year:
- Sequential net revenues increased 11% versus $10.59 million for the three-month period ending December 31, 2019.
Gross profit of $4.90 million for the three-month period ending March 31, 2020, up 170% from $1.82 million for the same quarter last year.
- Sequential gross profit increased 51% versus $3.23 million for the three-month period ending December 31, 2019.
- Gross profit margin improved to 42% for Q1, 2020.
Net income from operations was $2.90 million for the three-month period ending March 31, 2020 versus a loss from operations of $(946,180) for the three-month period ending March 31, 2019.
- Sequential net income from operations increased 503% versus $481,121 for the three-month period ending December 31, 2019.
Adjusted EBITDA was $1.65 million for the three-month period ending March 31, 2020 versus an adjusted EBITDA loss of $(1.98 million) for the three-month period ending March 31, 2019.
- Also compares with an adjusted EBITDA loss of $(91,760) for the three-month period ending December 31, 2019.
The Company reported an earnings per share of $0.02 for the three-month period ending March 31, 2020.
The Company reported a strong financial position, with working capital of $23.90 million and total assets of $72.05 million.