Berto15
5 years ago
FinCanna Capital (FNNZF) just released their financials and they are finally profitable!
FinCanna’s financials statements can be found here: SEDAR (hyperlink)
FY2019 Financial Highlights:
YoY revenues increased by ~125%
YoY total expenses decreased by ~40%
The company earned an accounting Net Income of $210,179 (Basic and diluted EPS of 0.002)
While the company only recorded a small net income, in my view a small profit is preferable to losses like those recorded in 2018. As of April 30, 2019 the company has ~$7.8m in cash on hand and are there is $381,155 in profit sharing income in receivables (note 5).
Financial Health
The company remains very liquid as represented by a high current ratio (~10x) meaning they have more than enough liquid assets to cover their short-term liabilities. The company also uses limited leverage as represented by a Debt/Assets ratio far below 1.
Current Ratio: (8,902,811/891,110) = ~9.99
Total Debt/ Total Assets: (526,573 + 3,746,701)/24,409,269 = ~0.175
Per Share Metrics - Basic (Diluted):
Cash Per Share: 0.08 (0.07)
Book-Value (Shareholders’ Equity) Per Share: 0.21 (0.17)
At a share price of 0.13 the company currently trades at a price-book of 0.62 (0.78 diluted).
europa7
6 years ago
FinCanna Receives US$3.9 million Repayment from Cultivation Technologies Inc.
https://www.globenewswire.com/news-release/2019/03/06/1748595/0/en/FinCanna-Receives-US-3-9-million-Repayment-from-Cultivation-Technologies-Inc.html
March 06, 2019 03:05 ET | Source: FinCanna Capital Corp.
VANCOUVER, British Columbia, March 06, 2019 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a royalty company for the U.S. licensed medical cannabis industry announces that it has received US$3.9 million as partial repayment of an outstanding secured loan from Cultivation Technologies Inc. (“CTI”). These funds were generated from the sale of CTI’s Coachella property as initially announced on October 9, 2018.
FinCanna will continue to earn 50% of the profits of CTI’s Interim Extraction and Manufacturing Facility that is expected to remain in operation on the site until June 2019 as agreed to with the new owner of the Coachella property.
Andriyko Herchak, President and CEO of FinCanna Capital states, “We are very pleased to receive this non-dilutive cash injection, and our $8.5 million treasury puts FinCanna in an excellent position to complete further investments to give our shareholders access and leverage to the burgeoning licensed cannabis market in the United States.”
europa7
6 years ago
Oakland: FinCanna Investment Refined Resin Technologies Inc. Receives US$9.6 Million Minimum Purchase Order
https://oaklandnewsonline.com/2018/10/03/fincanna-investment-refined-resin-technologies-inc-receives-us9-6-million-minimum-purchase-order/
FinCanna Investment Refined Resin Technologies Inc. Receives US$9.6 Million Minimum Purchase Order
By GlobeNewswire, October 03, 2018, 03:05:00 AM EDT
https://www.nasdaq.com/press-release/fincanna-investment-refined-resin-technologies-inc-receives-us96-million-minimum-purchase-order-20181003-00072
Minimum Purchase Orders Now Total US$10.4 Million for THC Distillate
VANCOUVER, British Columbia, Oct. 03, 2018 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. ("FinCanna") (CSE:CALI) (OTCQB:FNNZF) a royalty company for the U.S. licensed medical cannabis industry, is pleased to announce that its investee company Refined Resin Technologies Inc.("Refined Resin") of Oakland, California has acquired its second purchase order for THC distillate in the minimum amount of US$9.6 million. Refined Resin is a cannabinoid research and refinery company that provides B2B products and services to licensed brands, dispensaries and distributors in the medical cannabis supply chain.
This purchase order was received from a prominent, large volume, California cannabis enterprise whose business interests include brands, products, and a California wide distribution network. The purchase order of US$9.6 million is specified as a minimum annual amount with the expectation that monthly volumes and associated payments would significantly increase based on consistent delivery and performance.
Refined Resin continues to meet with suppliers, contractors and potential customers in support of its commercial launch expected in early 2019. Refined Resin anticipates that it will secure additional purchase orders based on advanced discussions in progress with a number of interested parties.
PotterBanker
6 years ago
FinCanna Capital to Attend New Green Frontier Conference 2018
https://globenewswire.com/news-release/2018/11/16/1652850/0/en/FinCanna-Capital-to-Attend-New-Green-Frontier-Conference-2018.html
FinCanna President & CEO, Andriyko Herchak to Present on Conference Main Stage
VANCOUVER, British Columbia, Nov. 16, 2018 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a royalty company for the U.S. licensed medical cannabis industry is pleased to announce that it will be presenting at the invitation-only New Green Frontier, cannabis investor conference to be held at The Arcadian Court in Toronto ON, Monday, November 19.
The conference, expected to be attended by over 350 investors, aims to connect cannabis companies across North America and accredited, institutional, and high-net worth cannabis investors to share insights and foster relationships that will help shape and advance the rapidly-growing industry.
FinCanna President and CEO Andriyko Herchak will deliver a main stage company presentation scheduled for 16:30EST. Mr. Herchak stated, “I am excited to have the opportunity to share our story and prospects for the future. We are committed to increasing our visibility in the investment community and the New Frontier Conference is an ideal venue for showcasing the potential of our company with a highly selective investor audience.”
Investors attending the event can look forward to presentations from management teams of leading cannabis companies, one-on-one meetings, hearing keynote speeches, and panel discussions touching upon topics such as Women in Cannabis, Navigating Capital Markets post-legalization, Growing Technologies, Cannabis-Infused Products and more. The New Green Frontier conference is presented by by SmallCapPower and Capital Ideas Media, the financial media division of Gravitas Financial Inc. The conference is invitation-only, but is available to be viewed via webcast at the link below: https://webinar.newgreenfrontier.com/attend-the-live-webinar/
About New Green Frontier
New Green Frontier is an invite-only cannabis investor conference focused on connecting high net worth investors and cannabis experts to the top cannabis companies from across North America. The conference is presented by SmallCapPower and Capital Ideas Media, the financial media division of Gravitas Financial Inc. along with Gravitas Securities in association with Thinking North, The Canadian Securities Exchange, North Lights Partners and Marigold PR. Event partners include Canada Cannabis Events and Bantr Inc. For more information, visit https://newgreenfrontier.com/ or email Sonia Bhalla, Client Relations Manager at SmallCapPower, (sonia@smallccappower.com).
About FinCanna Capital Corp.
FinCanna provides financing to top-tier companies in the licensed medical cannabis industry in exchange for a royalty on revenues. FinCanna, led by a team of finance and industry experts, is building its diversified portfolio of royalty investments in scalable, best-in-class projects and companies in U.S. legal states, with a focus on California. For additional information visit www.fincannacapital.com and FinCanna’s profile at www.sedar.com.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
Investor Relations:
Arlen Hansen
Kin Communications
1-866-684-6730
CALI@kincommunications.com
PotterBanker
6 years ago
NetworkNewsBreaks – FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) Investee Adds Taxation Reporting Technology to its Proprietary Compliance Platform
http://soccerout.com/news/networknewsbreaks-fincanna-capital-corp-cse-cali-otcqb-fnnzf-investee-adds-taxation-reporting-technology-to-its-proprietary-compliance-platform/0104624/
FinCanna Capital (CSE: CALI) (OTCQB: FNNZF), a royalty company for the U.S. licensed medical cannabis industry, this morning announced that its investee company ezGreen Compliance has expanded its proprietary Business Intelligence Dashboard (“BID”) by adding a new comprehensive taxation feature to automate crucial revenue reporting functionality.
ezGreen Compliance provides a state-of-the-art enterprise compliance and point-of-sale (“POS”) software solution for licensed medical cannabis dispensaries and cultivators. ezGreen plans to roll out the new taxation feature as a fully integrated component of its BID to the company’s affiliate network comprised of more than 200 dispensary locations.
Furthermore, ezGreen’s BID, which was developed and supported by Automated HealthCare Solutions (“AHCS”), is Health Insurance Portability and Accountability Act (“HIPAA”) certified and is compliant with state laws ensuring secure customer data storage.
“Compliance reporting is becoming a “must have” for every business in the cannabis industry,” FinCanna Capital President and CEO Andriyko Herchak stated in the news release. “We believe ezGreen is clearly the industry leader in the compliance software space as evidenced by their superior Business Intelligence Dashboard which now incorporates a mission critical taxation reporting solution. Compliance reporting is an enormously lucrative space and we are confident ezGreen will deliver outstanding results for our shareholders.”
PotterBanker
6 years ago
FinCanna Investee ezGreen Compliance Launches Taxation Reporting Technology
https://globenewswire.com/news-release/2018/10/11/1619728/0/en/FinCanna-Investee-ezGreen-Compliance-Launches-Taxation-Reporting-Technology.html
October 11, 2018 03:05 ET | Source: FinCanna Capital Corp.
VANCOUVER, British Columbia, Oct. 11, 2018 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a royalty company for the U.S. licensed medical cannabis industry, announces that its investee company ezGreen Compliance (“ezGreen”) which provides a state-of-the-art enterprise compliance and point-of-sale (POS) software solution for licensed medical cannabis dispensaries and cultivators, has expanded its proprietary Business Intelligence Dashboard (BID) with the addition of a new comprehensive taxation feature to automate essential revenue reporting functionality.
Testing with a cannabis management company carrying a portfolio of over 30 dispensaries in the state of California, the company believes it is the only comprehensive tax reporting solution in the market. ezGreen’s new proprietary taxation functionality resolves the problem of labour intensive, error prone manual inputting of key financial data as it is designed to ensure that critical financial information is instantly captured and seamlessly organized for complex municipal and state tax reporting. ezGreen’s automation of the state taxation formulas are customizable to track both municipal and state requirements around sales and excise taxes.
PotterBanker
6 years ago
FinCanna Investment Refined Resin Technologies Inc. Receives US$9.6 Million Minimum Purchase Order
https://globenewswire.com/news-release/2018/10/03/1600526/0/en/FinCanna-Investment-Refined-Resin-Technologies-Inc-Receives-US-9-6-Million-Minimum-Purchase-Order.html
Minimum Purchase Orders Now Total US$10.4 Million for THC Distillate
VANCOUVER, British Columbia, Oct. 03, 2018 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a royalty company for the U.S. licensed medical cannabis industry, is pleased to announce that its investee company Refined Resin Technologies Inc. (“Refined Resin”) of Oakland, California has acquired its second purchase order for THC distillate in the minimum amount of US$9.6 million. Refined Resin is a cannabinoid research and refinery company that provides B2B products and services to licensed brands, dispensaries and distributors in the medical cannabis supply chain.
This purchase order was received from a prominent, large volume, California cannabis enterprise whose business interests include brands, products, and a California wide distribution network. The purchase order of US$9.6 million is specified as a minimum annual amount with the expectation that monthly volumes and associated payments would significantly increase based on consistent delivery and performance.
PotterBanker
6 years ago
FinCanna Investment Refined Resin Technologies Inc. Secures First Purchase Order in the Minimum Amount of US$840,000
https://globenewswire.com/news-release/2018/09/26/1576195/0/en/FinCanna-Investment-Refined-Resin-Technologies-Inc-Secures-First-Purchase-Order-in-the-Minimum-Amount-of-US-840-000.html
Refined Resin a Premier Bulk Producer of THC Distillate and High-Value Concentrates for California’s Growing Demand of Extracts Receives First Purchase Order from a Prominent California Brand
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September 26, 2018 03:05 ET | Source: FinCanna Capital Corp.
VANCOUVER, British Columbia, Sept. 26, 2018 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a royalty company for the US licensed medical cannabis industry, is pleased to announce that its investee company Refined Resin Technologies Inc. (“Refined Resin”) of Oakland, California has received its first purchase order for THC distillate in the amount of US$840,000. Refined Resin is a cannabinoid research and refinery company that provides B2B products and services to licensed brands, dispensaries and distributors in the medical cannabis supply chain.
This purchase order was received from a high volume, top California cannabis brand that manufactures a diversified product line, which is distributed across the state. The purchase order of $840,000 is specified as a minimum annual amount with the expectation that monthly volumes and associated payments could escalate based on consistent delivery and performance.
PotterBanker
6 years ago
FinCanna Capital Welcomes Rosy Mondin to its Board of Advisors
https://globenewswire.com/news-release/2018/09/19/1572860/0/en/FinCanna-Capital-Welcomes-Rosy-Mondin-to-its-Board-of-Advisors.html
VANCOUVER, British Columbia, Sept. 19, 2018 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a royalty company for the U.S. licensed medical cannabis industry is pleased to announce the appointment of Ms. Rosy Mondin to its Board of Advisors. Ms. Mondin is a leading advocate for the legalization of adult use cannabis in Canada and is the first woman to hold the role of CEO in a publicly traded company in the cannabis sector.
Specializing in corporate law, Ms. Mondin served as strategic advisor for several companies involved in the processing, distribution, and safe use of medical cannabis. She co-founded Soma Labs Scientific in 2014, which amalgamated to form Quadron Cannatech Corporation in 2016. Ms. Mondin is CEO and Director of the company, which focuses on extraction and processing solutions.
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