Nextleaf Solutions Ltd C.OILS

Q3

[LastoftheFranks]

Interim financial statements/report - English https://ceo.ca/content/sedar/OILS-20220829-Interim-financial-statementsreport-English-d081.pdf

 

MD&A - English

https://ceo.ca/content/sedar/OILS-20220829-MDA-English-e865.pdf

[LastoftheFranks]

The accompanying unaudited condensed interim consolidated financial statements of Nextleaf Solutions Ltd. (“the Company”) for the three and nine months ended June 30, 2022 and June 30, 2021, have been prepared by the management of the Company and approved by the Company’s Audit Committee and the Company’s Board of Directors. Under National Instrument 51-102, Part 4, subsection 4.3 (3) (a), if an

[LastoftheFranks]

As at June 30, 2022, the Company had a working capital deficit of $340,201. Refer to going concern considerations disclosed in Note 1.

[LastoftheFranks]

Revenue growth flat.  MD&A: SUMMARY OF QUARTERLY RESULTS The following table shows results from the last eight quarters:                                     Revenue         Loss               Loss per share June 30, 2022   

[LastoftheFranks]

Cash burn is not ideal. Cash on hand ~450k, ended Q2 with ~$860k. All the new "tax free" bulk ingredients came online in Q4. They either need a significant uptick in bulk sales or branded product sales, or they will find themselves looking for cash again. Note Q3 was only briefly in Ontario so those sales have not materialized in these financials. 

[RyanB1234]

Did they not just put out an article where they had a $1M month? Was that in Q3 or Q4, I can't remember? if this release happened in Q3, then a total of $1.2M for the Q is extremely disappointing. If it was in Q4, then we better expect a much larger quarter out of Nextleaf than their current tops of $1.3M for revenue....

[Snookyb1]

Should I sell ? Before tomorrow 

[Rat1Race]

To make an extra $546,777 we spent an extra $550,625?!? Did we all mistakenly invest in the Michael Scott Paper Company? The more we make the faster we're going out of business. Nice.  See you all in 2023.

[stealthct]

A lot of pain is on the horizon 2023-2024. Ignoring that scenario is your choice. 

[LastoftheFranks]

The only real defence here is between April - June is when rollout was occuring for multiple provinces and products. So there were sales, inventory, and advertising expenses who's returns have yet to be realized, which would also explain why revenue was flat.  It would be really nice if Paul or their CFO did an actual long interview and updated their strategy for where things are going

[RyanB1234]

You know Jason and the team reviews this board. Hopefully they read this comment and provides some clarity at some point....

[hopefull]

I wouldn't hold your breath. As far as Paul sees the company is always through excitement. if he acknowledges that investors should be addressed and starts to the market might take him more seriously. He still doing the Millennial type addresses and his posts lack buisnes intelligence. Don't misunderstand me he is smart when it comes to the weed formulation but buisnes acumen is his

[shneps]

Revenues were not where we had hoped but I also see the expenses and debt being taken control of and reduced. Still going through "lumpy" bulk sales which need to be smoothed out. With overall market considerations, including declining national cannabis sales, I'm ok with the results but definitely want to see this sales team expenses justified. Produce or cutback, pretty simple.

[stealthct]

going with these numbers into what's going to happen to the markets in 2023 - 2024 is not good