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

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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) > news
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Post by Anonymous2424 on Feb 13, 2019 9:42am

news

I cannot confirm the legitimacy of this article, but I thought it would be important to share and get your thoughts on this.

https://www.marketwatch.com/story/cannabis-stocks-rally-after-aurora-posts-first-earnings-of-december-quarter-2019-02-12?siteid=yhoof2&yptr=yahoo
Comment by Gilbert90 on Feb 13, 2019 9:50am
@ Anonymous2424 :  I don't really understand the last paragraph : especially the last phrase : ...Supreme said the fair value changes on the growth of its biological assets came to C$10 million, but the realized fair value changes on inventory sold or impaired was C$6 million. Combining the C$6 million with the C$4 million of production costs exceeds the C$7.72 million revenue number ...more  
Comment by Anonymous2424 on Feb 13, 2019 9:59am
i did some digging and this is what I found. Hope it makes sense: "biological asset rule credits the value of product that is growing at fair value minus selling costs and reports that figure on the income statement.   The changes in fair value are not counted as revenue, but as a reduction in the cost of sales, which as a result boosts the bottom line.   That means a ...more  
Comment by Gilbert90 on Feb 13, 2019 10:01am
@ Anonymous2424 :  ...I don't know if it provides any clarity...  Yes and I thank you for it.  Have a nice day.
Supreme Cannabis Company Inc. (The)