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Bullboard - Stock Discussion Forum Supreme Cannabis Company Inc. (The) T.FIRE

The Supreme Cannabis Co Inc is a Canada-based company engaged in the production and sale of medical and recreational cannabis. Its portfolio includes products that address recreational, medical, and wellness consumers. Its brands include BlissCo, Truverra, 7ACRES, Sugarleaf, and Hiway.

TSX:FIRE - Post Discussion

Supreme Cannabis Company Inc. (The) > My mistake - previous quarterly revenue
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Post by theTransporter on May 21, 2018 12:28pm

My mistake - previous quarterly revenue

I'd like to apologize to the board for the mistake I made in refering to a previous quarterly revenue number of over $3 million.  I have been utilizing my stockstream financial analysis tools which seems to have an error in it.  They seem to have taken the 6 month revenue figure instead of the actual quarter in isolation.

User image

I should have looked at the financial document in SEDAR.

One thing I must say for those complaining on the increased costs, keep in mind during this last quarter they were staffed up to grow the additioanl rooms during this period so naturally costs will increase as more rooms come online.  The revenue will quickly catch up and put those costs into proper perspective.

Also another note, correct me if I'm wrong, but isn't the valuation on the inventory based on the cost of product in inventory and not the actual revenue that inventory will generate.
Comment by theTransporter on May 21, 2018 12:32pm
Somehow the image post didnt' work. Here it is again below where the incorrect data I was refering to was:
Comment by TruthSeeker007 on May 21, 2018 1:08pm
Thanks for the updated info your continuous contribution to the board is much appreciated.  When this thing starts running a lot of bystanders will be caught in the rear view mirror..Go SL  glta
Comment by SILVERSTOCKS3 on May 21, 2018 2:17pm
This post has been removed in accordance with Community Policy
Comment by FIREdup on May 21, 2018 4:04pm
No worries Transporter, I can see the error in the info you were looking at. You are correct that the 2.6M inventory number would be stated at cost. Actual revenue will be higher then this when it is sold. The other good news reflected in the statements is that the facility cost reflects significant additions vs. the previous quarter (just shy of 18M) and cash remains about the same. Should be ...more  
Comment by Bever73 on May 21, 2018 5:49pm
You really should be disciplined by stockhouse as publishing false financial statements might lead to someone making a poor investment decision. Very serious error there im not sure if an apology is enough
Comment by SILVERSTOCKS3 on May 21, 2018 7:03pm
This post has been removed in accordance with Community Policy