Eve & Co Inc V.EVE.H

Consumer Defensive Household & Personal Products

Eve & Co Incorporated is a Canada-based company, which holds cultivation and processing licenses for the production and sale of various cannabis products, including dried cannabis, cannabis plants and extraction of cannabis oil. It is a licensed producer of medicinal marijuana. It also provides educational information and online support for its customers and first-time buyers. Its products include The Boss Bath Bomb, The Dreamer Bath Bomb, The Lover Bath Bomb, The Optimist CBD Bath Bomb, Indica Blend, Sativa Blend, The Boss, The Confidant, The Creator, The Lover, The Adventurer, The Advocate, and The Free Spirit. Its wholly owned subsidiary is Natural MedCo Ltd. The Boss Bath Bomb has an invigorating blend of sweet orange, lemon, and grapefruit essential oils that come together to enhance and lift mood, reduce stress, and stimulate circulation. The Dreamer Bath Bomb has calming lavender and chamomile essential oils that help to reduce stress and anxiety and promote calmness.

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Eve & Co Inc > Note 4 "Inventory" in Q3 2020 Financials. Analysis.

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Comment by GhostOfGoldyon Nov 28, 2020 8:16pm

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Post# 31995751

RE:Note 4 "Inventory" in Q3 2020 Financials. Analysis.

Blah blah blah...nice napkin math pinhead. Still holding that heavy bag, why else would you spend so much time here.

reallyBobbyZ wrote: EVE's Q3, 2020 financials give the following...

Dried Cannabis $8,399,088
Work in Progress 635,945
_________
Total $9,035,033 cannabis product

EVE has their cannabis valued at the $1.21 they got in Q3...SO,

$9,035,033 divided by $1.21 = 7,466,969 grams "in the vault" = 7,467 kgs.

A few weeks ago, EVE posted that it was sending 5,000 kgs off to NextLeaf for extraction.

EVE said it would "share" in any profit that NextLeaf might make selling it. EVE won't get anywhere near the Q3 $1.21 they valued it at on Sept 30.

In FACT, EVE gave NO GUIDANCE on such a HUGE, material action as to value or when they might expect to see any return from this....one month?...two months?...six months? Your GUESS!

SO...Eve now has 2,467 kgs left to sell at $1.21 using Sept 30 inventory and Sept 30 price/gram.

2,467 kgs at $1.21/gram = $2,985,070 still "on hand" to sell to retail.

In short, 5,000 kgs of EVE's 7,467 kgs inventory went to NextLeaf...that is about 66% shipped off. No invoice...just a "let's share" deal. If NextLeaf goes out of business for some reason, EVE won't see a dime.

EVE will need to account for this shipment to NextLeaf in their Q4 [year end] results which we will likely see later in April 2021.

In general...expect another HUGE, negative inventory adjustment in the next financial release since 2/3 of the Sept 30 Inventory left with no known value...except it will be much less than $1.21/gram.

Cheers, Bob