Eve & Co Inc V.EVE.H

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

[reallyBobbyZ]

GHOST....why you so MAD? Why the PERSONAL attacks?

If you dispute any of the #s....then do it please.

Cheers,  Bob

GhostOfGoldy wrote:

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