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Red White & Bloom Brands Inc C.RWB

Red White & Bloom Brands Inc. is a Canada-based multi-jurisdictional cannabis operator and house of premium brands operating in the United States, Canada and select international jurisdictions. The Company is predominantly focusing its investments on major United States markets, including Arizona, California, Florida, Missouri, Michigan, and Ohio. The Company's segments include Distribution, Licensing, Retail, Corporate and Other. The Distribution segment cultivates, manufactures, processes and/or distributes Company branded cannabis and non-cannabis products directly to licensed retailers. The Licensing segment owns intellectual property associated with its Platinum Vape and Platinum trademarks and brands, that are engaged in the sale of non-THC branded products which are incorporated in licensed Company cannabis product offerings. The Retail segment sells both Company and third party branded and non-branded cannabis products and accessories to the adult-use and medical use markets.


CSE:RWB - Post by User

Comment by westshoreon Feb 17, 2024 8:14pm
117 Views
Post# 35886257

RE:Nothing moves this stock...

RE:Nothing moves this stock...As at March 31, 2023, the Company incurred accumulated net comprehensive losses of $360,843,283 (December 31, 2022; $352,649,020) since inception, including non-cash impairments of $214,764,297 realized in fiscal 2022. For the three months ended March 31, 2023, the Company incurred a comprehensive net loss of $9,217,057 (2022; $13,135,786), and net cash used in operations was $1,979,058 (2022; net cash of $6,448,842 provided by operating). The Company's operations are mainly funded with debt and equity financing, which is dependent upon many external factors and may be difficult to raise additional funds when required. The Company may not have sufficient cash to fund ongoing operations, and the acquisition and development of assets or servicing of debt requirements and will therefore require additional funding, which if not raised by the aforementioned, may result in the delay, postponement, or curtailment of some of its activities. In assessing whether the going concern assumption was appropriate, the Company considered all relevant information available for the twelve-month period following March 31, 2023. To address its financing requirements, the Company continues to aggressively pursue several available options including financing via debt and equity markets to fund growth initiatives, both organic and acquisitive and monetization of captive assets; tangible and intangible. The Company will also continue to seek to improve its cash flow by prioritizing operating initiatives with greater expected returns and also aggressively reduce operating costs by streamlining its operations and support functions. While the Company has been successful in obtaining financing to date, and believes it will be able to obtain sufficient funds in the future and ultimately achieve profitability and positive cash flows from operations, the Company's ability to raise capital may be adversely impacted by: market conditions that may result in a lack of normally available financing in the cannabis industry; increased competition across the industry, and overall negative investor sentiment.. Accordingly, there can be no assurance that the Company will achieve profitability, or secure financing on terms favorable to the Company or at all. If the going concern assumption were not appropriate for the Financial Statements for the period ended March 31, 2023, then adjustments would be necessary to the carrying values of assets and liabilities, the reported expenses and the condensed interim consolidated statements of financial position classifications used. Such adjustments
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