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Gaia Grow Corp C.GAIA

Gaia Grow Corp. is a Canada-based hemp producer company. The Company, through its wholly owned subsidiary Tru Extracts (Calgary) Ltd. (TruExtracts), is focused on developing, formulating and commercializing cannabinoid-containing end-user facing products, such as edibles, prerolls and concentrates. TruExtracts Laboratories is a cannabis and hemp processors, with an approximately 12,500 square foot facility in Calgary. The facility is Health Canada licensed and fully operational, with an expansion capability of an additional 16,000 additional square feet. TruExtracts services include toll processing, tetrahydrocannabinol (THC), cannabidiol (CBD) extractions and isolates, as well as white label service and cannabis THC and CBD products.


CSE:GAIA - Post by User

Gaia Grow Corp
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Post by StoneMan45on May 05, 2021 10:52am
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Post# 33131748

Gaia writes down $4,032,224 of inventory Dec 31st 2020

Gaia writes down $4,032,224 of inventory Dec 31st 2020https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00033003&issuerType=03&projectNo=03216716&docId=4952933
The net loss for the three months ended March 31, 2021 was $239,476 as compared to $4,362,397 for the previous quarter ended December 31, 2020. The loss was higher in the comparative period MAINLY DUE TO AN IMPAREMENT WRITE-DOWN OF INVENTORY RECORDED IN THE FORTH QUARTER OF 2020 OF $4,032,224. In addition, the Company recorded $76,480 in an impairment of equipment based on management’s impairment assessment for equipment in Lacombe, AB at December 31, 2020. There were no such write-downs recorded in the first quarter of fiscal 2021.
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