Newstrike Brands Ltd NWKRF

Response from HIP Regarding QTR Report + Facilities

[quinlash]

Not too sure who asked about this however there was a question posted regarding the cost of upgrading and expanding the facilities.  I asked IR and received this back..

FROM HIP (Dennis Fong):

There are some costs associated with labour and in the wages line, but most of the facilities investment is capital expenditures. That's not in the income statement, its in the cash flow statement under purchase and deposits on property, plant and equipment under investment activities.

 

Best,

Dennis

There are some costs associated with labour and in the wages line, but most of the facilities investment is capital expenditures. That's not in the income statement, its in the cash flow statement under purchase and deposits on property, plant and equipment under investment activities.

 

Best,

Dennis

[TruthAboutHip]

Well okay if they have actually been doing some work on the Niagara facility then why on earth would they downplay it in the financials ? Under major costs there should have been a line which referenced work being done on the Niagara facility, after all it won't be chump change to retrofit and build new greenhouses. I would have expected to see a cost for this at around 3-4 million dollars for

[quinlash]

Well I can't help but to agree that they should be doing more to promote the company and the progress that they are making on facilities however fincanical reporting, especially quarterly or annual reports, are pretty high level summaries of a company's activities, we can't be expecting specific details on one activity from these.  With that said, yes, they should of had a