RE:On a more positive noteTwo cents: Results not terrible. Expectations on this board were high. Clearly, high expectations were not met. Still, there was considerable forward progress, i.e.:
-net loss reduction
-expenses cut to the bone
-gross margin increasing
-cash on hand up +50%.
Positive takeaways from Q:
"The increase in the gross margin percentage is primarily due to the Company's enhanced ability to produce saleable flower and biomass from its cultivation facility which is expected to substantially improve realized gross margins going forward."
"The decrease is attributed to the Company's strategic cost reductions across all business units. It is the priority of the Company's executive management to continue to reduce costs, with the goal of maintaining consistent profitability in the near future."
Negatives:
CBD sales not good at all. They need to improve a lot.
More competition in flower market. However, company is pivoting.
Tremendous progress during the past fiscal year. Though I'm as impatient as anyone to get sp moving up, I'm thinking that the heavy lifting is mostly done, now management can focus on building a stronger sales channel. I'm sitting tight for another 6 months. If there will be meaningful progress, we will see it during the next 3-12 months.
Would be good to hear from Rosen re: future plans and progress.