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Supreme Cannabis Company Inc. (The) T.FIRE

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The Supreme Cannabis Co Inc is a Canada-based company engaged in the production and sale of medical and recreational cannabis. Its portfolio includes products that address recreational, medical, and wellness consumers. Its brands include BlissCo, Truverra, 7ACRES, Sugarleaf, and Hiway.


TSX:FIRE - Post by User

Supreme Cannabis Company Inc. (The) > awful is the word
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Post by jfogarty12on May 15, 2020 6:50pm
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Post# 31036379

awful is the word

awful is the word Supreme Cannabis records $57.5M in impairment charges in Q3, takes $72.3M loss

Supreme Cannabis reported fiscal third-quarter results on Friday with a slight sequential improvement in revenue while booking $57.5 million in asset impairments. The Toronto-based cannabis producer also reported a $72.3-million loss, compared to a $17.3-million loss in the prior quarter. Supreme's adjusted EBITDA fell to a $11.7 million loss. The company said its impairment charge stemmed from goodwill tied to its BlissCo and Truverra acquisitions and could be attributed to "slower than expected development of the recreational cannabis market in Canada." It has just $23.1 million in cash, down from $48.7 million in the prior quarter. 
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