Empower Clinics Inc EPWCF

RE:When are financials expected?

[Smokey1958]

Up until Steven McAuley took over as CEO of Empower, annual financials were always released at the end of April. Since then the company has missed that date. The first year first not arriving until June and then July for both 2020 and 2021. I think it's revealing as to his transparency and accumen as a leader that he didn't try to hide from the issues that this created but also that financials from years previous had to be re-audited.

Over the last few months he has indicated on several occasions that this will not be the case this year ...having replaced, added key people and resources to the accounting side of the company. So the finacials should arrive in a month or so. Q1 for 2022 should follow in May.

As for what this might look like. Simply put Kai has underperformed, Medisure has exceeded expectations, Sun Valley is gone and the clinics are rolling out albeit more slowly than originally expected. It must also be understood that the expansion of Kai Medical and refurbishing of clinics had a cost.

The company has had the revenue from the first 3 Canadian clinics for most of 2021 ($1 million to $2 million annually per clinic). The completion of the acquisition of Medisure (annual revenues of almost $2 million) at the beginning of July means approximately 6 months of revenue from them. Q1 2021 was a record quarter with $2.5 million in revenues. Adding 4 more clinics before the end of 2021 should mean between $2 million to $5 million of total revenues for those.

It's hardly an exact science, but annual revenues for 2021 could be around $6 million to $10 million ...which would and should, with the expansion of the company, far exceed any previous year. If true there should be no expectation that 2022 revenues would be anything less than $20 million.

This is a simple and imho a conservative overview so feedback supporting or to the contrary would be welcomed.

GLTE!!!

hedgieboi wrote: Anyone know when financials are expected?

Anyone have guesses on how things are going to look?
Hey Smokey-you usually have a good opinion with this sort of thing