2024 Q1 Form 20-F Financial Statement
#000106299324014058 Filed on July 25, 2024
Income Statement
| Concept | 2024 Q1 | 2024 |
|---|---|---|
| Revenue | $4.465M | $28.29M |
| YoY Change | -36.51% | -2.09% |
| Cost Of Revenue | $2.689M | $17.14M |
| YoY Change | -50.05% | 10.64% |
| Gross Profit | $1.776M | $11.15M |
| YoY Change | 7.66% | -16.8% |
| Gross Profit Margin | 39.78% | 39.42% |
| Selling, General & Admin | $1.486M | $9.678M |
| YoY Change | -23.71% | 19.76% |
| % of Gross Profit | 83.68% | 86.8% |
| Research & Development | $2.465K | $16.52K |
| YoY Change | -8.85% | |
| % of Gross Profit | 0.14% | 0.15% |
| Depreciation & Amortization | $207.2K | $1.409M |
| YoY Change | -55.2% | -23.57% |
| % of Gross Profit | 11.67% | 12.64% |
| Operating Expenses | $1.489M | $9.694M |
| YoY Change | -34.96% | 2.63% |
| Operating Profit | $289.9K | $1.472M |
| YoY Change | -145.35% | -62.78% |
| Interest Expense | $0.00 | $35.21K |
| YoY Change | -100.0% | -87.68% |
| % of Operating Profit | 0.0% | 2.39% |
| Other Income/Expense, Net | $8.440K | $9.210K |
| YoY Change | -145.09% | -131.76% |
| Pretax Income | $321.3K | $258.7K |
| YoY Change | -143.82% | -93.83% |
| Income Tax | $372.7K | $3.482M |
| % Of Pretax Income | 116.01% | 1346.23% |
| Net Earnings | -$74.40K | -$3.305M |
| YoY Change | -96.49% | -1227.28% |
| Net Earnings / Revenue | -1.67% | -11.69% |
| Basic Earnings Per Share | $0.00 | -$0.03 |
| Diluted Earnings Per Share | $0.00 | -$0.03 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 120.0M | 120.0M |
| Diluted Shares Outstanding | 122.9M | 122.9M |
Balance Sheet
| Concept | 2024 Q1 | 2024 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $2.409M | $3.261M |
| YoY Change | 27.32% | 72.36% |
| Cash & Equivalents | $2.409M | |
| Short-Term Investments | ||
| Other Short-Term Assets | $1.922M | $1.757M |
| YoY Change | -15.13% | -22.4% |
| Inventory | $2.709M | $2.866M |
| Prepaid Expenses | ||
| Receivables | $189.2K | $238.0K |
| Other Receivables | $13.83K | $16.37K |
| Total Short-Term Assets | $7.242M | $8.138M |
| YoY Change | -17.16% | -6.91% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $3.433M | $12.14M |
| YoY Change | -73.73% | -7.14% |
| Goodwill | $28.54M | |
| YoY Change | 0.0% | |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $0.00 | $121.8K |
| YoY Change | -100.0% | 73.49% |
| Total Long-Term Assets | $47.29M | $47.09M |
| YoY Change | -4.6% | -5.01% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $7.242M | $8.138M |
| Total Long-Term Assets | $47.29M | $47.09M |
| Total Assets | $54.53M | $55.23M |
| YoY Change | -6.49% | -5.29% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.188M | $2.069M |
| YoY Change | -51.6% | -15.7% |
| Accrued Expenses | $415.3K | $911.5K |
| YoY Change | -52.02% | 5.3% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $1.156M | $1.156M |
| YoY Change | -63.67% | -63.67% |
| Total Short-Term Liabilities | $14.17M | $15.05M |
| YoY Change | -5.4% | 0.49% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $9.301M | $9.205M |
| YoY Change | 3.09% | 2.03% |
| Total Long-Term Liabilities | $9.301M | $9.205M |
| YoY Change | 3.09% | 2.03% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $14.17M | $15.05M |
| Total Long-Term Liabilities | $9.301M | $9.205M |
| Total Liabilities | $23.48M | $24.25M |
| YoY Change | -2.14% | 1.07% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$72.78M | |
| YoY Change | 4.76% | |
| Common Stock | $105.5M | |
| YoY Change | 0.02% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $31.05M | $30.97M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $54.53M | $55.23M |
| YoY Change | -6.49% | -5.29% |
Cashflow Statement
| Concept | 2024 Q1 | 2024 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$74.40K | -$3.305M |
| YoY Change | -96.49% | -1227.28% |
| Depreciation, Depletion And Amortization | $207.2K | $1.409M |
| YoY Change | -55.2% | -23.57% |
| Cash From Operating Activities | $526.4K | $911.5K |
| YoY Change | -56.14% | -84.55% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $51.48K | $521.6K |
| YoY Change | 466.99% | 17.93% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$18.25K | -$51.48K |
| YoY Change | 101.21% | -86.83% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -11.39K | -7.590K |
| YoY Change | -99.29% | -99.89% |
| NET CHANGE | ||
| Cash From Operating Activities | 526.4K | 911.5K |
| Cash From Investing Activities | -18.25K | -51.48K |
| Cash From Financing Activities | -11.39K | -7.590K |
| Net Change In Cash | $852.0K | $516.8K |
| YoY Change | -306.37% | -143.98% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $526.4K | $911.5K |
| Capital Expenditures | $51.48K | $521.6K |
| Free Cash Flow | $474.9K | $389.9K |
| YoY Change | -60.13% | -92.86% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024 | dei |
Entity Address Country
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CA | |
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0.01 | |
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Interest Payable Current
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Deferred Tax Liabilities Property Plant And Equipment
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Income Loss From Continuing Operations Per Diluted Share
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0.01 | |
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Earnings Per Share Basic
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-0.03 | |
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0 | |
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Earnings Per Share Diluted
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Income Loss From Continuing Operations Per Diluted Share
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-0.03 | |
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Earnings Per Share Diluted
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-0.03 | |
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Earnings Per Share Diluted
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Weighted Average Number Of Diluted Shares Outstanding
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Weighted Average Number Of Diluted Shares Outstanding
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Stockholders Equity
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34315076 | usd |
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Stock Issued During Period Value Share Based Compensation
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Inventory Write Down
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Provision To Record Inventory At Net Realizable Value
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Weighted Average Remaining Life Of Warrants Outstanding
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Number Of Warrants Expired
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Share Based Compensation
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Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
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Operating Costs And Expenses
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Income Loss From Continuing Operations
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Income Loss From Continuing Operations
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Net Income Loss
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Income Loss From Continuing Operations Per Basic Share
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Income Loss From Continuing Operations Per Basic Share
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Income Loss From Continuing Operations Per Diluted Share
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Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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Entity Address Address Line1
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Floor, 885 West Georgia Street | |
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Auditor Name
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DAVIDSON & COMPANY LLP | |
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Auditor Location
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Vancouver, Canada | |
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Commitments And Contingencies
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Commitments And Contingencies
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Gain Loss On Disposition Of Assets1
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Gain Loss On Disposition Of Assets1
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Disposal Group Including Discontinued Operation Deferred Tax Assets
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Revenue Recognition Loyalty Programs
RevenueRecognitionLoyaltyPrograms
|
<div> <p style="text-align: justify; margin-left: 18pt; text-indent: -18pt; margin-top: 10pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><b>r)</b><span style="width: 11.5pt; text-indent: 0pt; display: inline-block;"> </span><b>Loyalty program</b></span></span></p> <p style="text-align: justify; margin-bottom: 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;">The Company offers a loyalty reward program to its dispensary customers that allows customers to earn reward credits that can be applied to future purchases. Loyalty reward credits issued as part of a sales transaction result in revenue being deferred until the loyalty reward is redeemed by the customer. The loyalty rewards are shown as reductions to the 'Revenue' line within the accompanying consolidated statements of income and comprehensive income and included as deferred revenue on the consolidated balance sheets. A portion of the revenue generated in a sale must be allocated to the loyalty points earned. The amount allocated to the points earned is deferred until the loyalty points are redeemed or expire. The loyalty program expiration policy is six months. As of January 31, 2024 and 2023, the loyalty liability totaled $301,562 and $94,068, respectively, and is included in deferred revenue on the consolidated balance sheets.</span></span></p> </div> | |
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Cash Provided By Used In Investing Activities Discontinued Operations
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Cash Provided By Used In Investing Activities Discontinued Operations
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Allowance For Doubtful Accounts Receivable Current
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Tangible Asset Impairment Charges
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Tangible Asset Impairment Charges
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Impairment Loss On Land
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Security Deposit
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Security Deposit
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Asset Retirement Obligations Noncurrent
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Asset Retirement Obligations Noncurrent
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Interest Payable Current
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Remaining Earn Out Share Obligation
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Remaining Number Of Shares To Be Delivered
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Weighted Average Exercise Price Of Warrants Expired
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1 | |
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Share Price
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Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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