RE:RE:Math question for Whiskey Your copy and paste game is softer than your handshake, Lhama. Building inventory is only a good thing if you can sell it. Revenues were down during a quarter in which record sales were happening. FAF was up 30% QoQ, which tells me that the gap is growing in favour of Bricks and Mortar, which already account for over 2/3's of all sales.
Bottom line, Lhama, you're never getting those losses back that are going to ruin your wife's retirement. Truly a sad ending to her story.
whisky11 wrote:
Canuck101 wrote: Adjusted EBITDA for the third quarter ended August 31, 2020 was a loss of $5.4 million, compared to a loss of $5.7 million for the third quarter ended August 31, 2019. Net loss for the third quarter ended August 31, 2020 was $7.8 million compared to $14.7 million in the same period last year. The improvement in the net loss is primarily attributed to a decrease in restructuring and impairment charges offset with an increased foreign exchange loss.
During the nine months ended August 31, 2020, the Company’s cash and cash equivalents position declined by $24.2 million resulting in $13.6 million cash on hand at the end of the third quarter.
So if there's 13.6 million at the end of Aug and the burn was 7.8 million a quarter of its Nov 1 tomorrow .. how many much before we need to raise capital ? My math isn't great I thought I'd ask the expert . Thanks ,
whisky11: Approximately, $14.9 million was used to fund operating losses, while the remainder primarily reflects the Company’s investment in inventory and property and equipment (“P&E”). The increased investment in inventory was in preparation for this year’s Black Friday and Cyber Monday and to further support the continued growth in cannabis revenue. The P&E primarily represents leasehold improvements for a dedicated facility designed specifically to produce oil, extract, and other products allowing the Company greater control over its input costs while driving increased margins. The Company announces that Andrew “Andy” Wilczynski has joined the Namaste’s Board of Directors. In 2011, Andy retired as Partner of PricewaterhouseCoopers LLP (“PwC”). For the past 38 years, Andy has worked with a wide range of organizations, including start-ups, and multinational corporations to raise capital and to advise on national, international and cross border restructuring initiatives. He has also worked with organizations across a broad spectrum of industries to develop and take advantage of growth prospects and strategic opportunities and to design refinancing and exit strategies. Andy has extensive expertise with developing approaches for raising capital to implement new technologies, formulating and implementing growth strategies including mergers and acquisitions, managing corporate takeovers, refinancing and corporate restructuring and providing advice on a range of financial and operational initiatives. In his long and distinguished career, Andy has succeeded in numerous leadership and Board positions.