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THC Biomed Intl Ltd C.THC

Alternate Symbol(s):  THCBF

THC Biomed Intl Ltd. is a Canada-based cannabis producer. The Company’s principal business is the production and sale of cannabis through THC BioMed Ltd., which is a small batch Licensed Producer as regulated by the Cannabis Act which regulates the production, distribution, and possession of cannabis for both medical and adult recreational access in Canada. The Company’s biological assets consist of cannabis plants (mother plants and clones for growth); resin; oil; harvested marijuana flowers prior to completion of the drying, grading and testing processes; and edible concentrate. The Company operates in a single reportable segment being the cultivation and sale of cannabis. Its subsidiaries include THC BioMed Ltd., Clone Shipper Ltd., THC BioMed Victoria Falls Ltd., THC2GO Dispensaries Ltd. (THC2GO), and THC BioMed Lesotho Ltd. (THC Lesotho). Clone Shipper Ltd. owns all rights to the Clone Shipper product used to transport live plants.


CSE:THC - Post by User

Post by RamboOO7on Apr 02, 2022 8:49am
163 Views
Post# 34569753

Provinces are requiring strains 20% explains the transition

Provinces are requiring strains 20% explains the transitionDuring the three months ended January 31, 2022, the Company had sales revenue of $606,826 (January 31, 2021 - $1,021,989) which included excise taxes of $158,892 (January 31, 2021 - $303,307). This represents a decrease in sales revenue of 41% period to period. This decrease in revenue is associated with the decrease in the sale of dried cannabis. The provinces are requiring strains with tetrahydrocannabinol of at least 20% which prompted management to introduce the seven new strains to be launched on 4/20 of 2022. The Company will continue to concentrate on the sale of edibles going forward. Sales of edibles made up 39% of total sales. This shift to increasing the sale of edibles will ultimately increase our average selling price going forward, as evidenced by the recent launch of the THC Kiss Biscuits.
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