RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Insolvency Filings Incoming? Thanks for your input. I will tell you straight up: If you are invested in this company and waiting for PROFIT then SELL right now. I can guarentee that PROFIT is nowhere in sight for this company. They are in growth mode. That's why they went public. There is no profitability on the horizon. This is a speculative stock and stock price is based on growth and revenue. Not profit. Profit would do ZERO to increase stock price. This is investing 101. Go ahead and disagree. All your disagreement means is you are invested wrong if you own this stock. There is no profit on the horizon. If I saw this company was profitable, turning a profit and holding cash reserve I would sell. I want to see increase in revenue and collateral with MORE borrowing and spending going towards growth. If they are holding profit then how are they paying for more growth? Or why isn't that money already re-invested into the company in growth initiatives?
Read their financials.
Right from the May 31st Annual:
Short-Term Business Objectives (Retail – Organic Garage) Our primary business objectives are to continue growing and expanding Organic Garage and increasing the number of stores. Organic Garage has two primary short-term business objectives: 1) Increase existing store sales by growing market awareness about Organic Garage through the use of word of mouth, social media, print media and other means of advertising. Organic Garage has proceeded with a direct to home mailer for two of Organic Garage’s 4 locations, focused initially on the newer locations (Junction and Liberty Village). The direct to home mailer delivers our Unflyer to approximately 3500-4000 homes around each store location participating in the program. The intention is to extend the program to Organic Garage’s newly renovated Bathurst location in June and eventually the Oakville location once the store has been renovated to the newer concept stores. 2) Renovate the Oakville location to conform with all services and amenities available at Organic Garage’s newer locations. Management expects existing funds on hand will be sufficient to complete this project. Organic Garage expects to begin renovations during the third quarter of the year ended January 31, 2023, with completion anticipated to take 1-2 months. Management had intended to complete this sooner, however Organic Garage experienced some delay in acquiring the necessary equipment and leasehold improvement materials caused by supply-chain delays and the COVID-19 pandemic and its variants. Long-Term Objectives(Retail – Organic Garage) In light ofOrganic Garage’s overall primary business objectives being the continued growth and expansion of the number of stores, long-term objectives include: 1) The pursuit of expansion possibilities in Ontario, outside of the Greater Toronto Area market. The transition from a centralized distribution model to a decentralized distribution model has opened the potential for new locations in markets it previously didn’t consider targets due to logistical challenges. 2) Continuing to work towards an automatic replenishment system with an expectation to roll the system out one location at a time to ensure operational success with its execution. The program is intended to aid in the replenishment systems of Organic Garage, allowing for a better in-stock position and the potential for increased sales, as well as greater control on inventory levels and values at the store level. It is anticipated that this will be completed by the end of January 31, 2023.