RE:Riddle me thisWhere did you come up with the $5.5 million?
I'm not sure they will be getting any sort of rebate check. As of 3/31/23, they had just over $2.4 million of this fee still represented as a payable. This would represent $40 million worth of retail sales in Manitoba, to accrue up to $2.4 million. Estimating out their 2022 and Q1 2023 retail sales, and considering what sales would be outside Manitoba, that's very likely all of their retail sales. Meaning they have not been paying this fee. If they haven't yet paid the fee, no refund coming.
They will get to restate their financials and remove this payable from their current liabilities. But that does not mean any cash will be incoming, just slighlty worse historical financials. Still a positive, but not nearly as good as recieving a large cash influx. The increased margins on their Manitoba retail sales going forward will also be nice. Assuming retail doesn't further reduce prices and pass this on to consumer.