corguo
4 years ago
DD on $MNFSF CSE: $MSVN undervalued with mass potentials
########################################
INTRO:
########################################
Cannabis is projects to be a 40-60 billion dollar business in a few years, with each state relaxing their laws on recreational use, the market cap and tax revenues are growing by the day. California and Colorado being the two biggest states with the most consumers and retailers markets.
Look at the market cap for some of the big names leading the industry, I'm sure everyone is heard of at least one or two: $CGC (Canoyp Growth), $CRON (Cronos Group), $ACB (Aurora Cannabis), $APHA (Aphria), $TLRY (Tilray).
https://www.investopedia.com/top-canadian-cannabis-companies-by-revenue-4587803
https://www.visualcapitalist.com/9-things-investors-should-know-about-the-cannabis-industry/#:~:text=Political%20Change%20Driving%20Market%20Growth&text=States%20where%20cannabis%20is%20legal,market%20could%20see%20further%20growth.
Lawmakers in Mexico are finalizing the legalization of recreational cannabis, and new regulations means that business will soon to be
able to cultivate and harvest cannabis for medicinal purposes.Mexico is one of the biggest producers of Cannabis, it's been portrayed in Movies such as "Blow" and Shows like "Narcos". Guess whos right next to Mexico? The U.S.! It will benefit both countries to generate exponential tax revenues... but, that's in the near future if they pass the federal legislatives.
########################################
The DD:
########################################
Manifestseven Holdings
https://www.manifest7.com
CSE:$MSVN / OTC:$MNFSF
Currently trading at $0.311 with a 33M market cap and 98M os (as of 03/05/2021)
They have a very solid team, with very experienced executives. Already offers various Cannabis products and services that's generating revenues. They offer subscription services, and B2C direct to consumer delivery service, as well as B2B supply chain service. They also offer accounting, finance, and analytical services to help others to start their own cannabis business.
Rolling Paper - https://www.rollingpaperdepot.com (Cannabis accessories)
Hippi Butler - https://www.hippiebutler.com (Cannabis Subscription boxes)
MyJane - https://www.myjane.com (Cannabis/CBD subscription boxes targeting the ladies)
White Coat Hemp Co - https://www.whitecoathempco.com
Puff Pack - https://www.thepuffpack.com (Cannabis/CBD subscription)
Custom Made Smoke Supply - https://www.cmsmokesupply.com (Cannabis accessories)
Marijuana Index - https://marijuanaindex.com
Vicinity Real Estate Holdings - https://www.vicinityreh.com (Real estate investment company for Cannabis retail)
Highlanders Distribution - https://www.highlandersdistro.com (Cannabis distribution chain)
Weden - https://www.weden.com (Cannabis direct consumer delivery service)
CFO World Wide - https://www.cfoworldwide.com (Accounting, finance, and analytical service to help small business to start their own Cannabis business)
https://www.manifest7.com/#about
Third Quarter 2020 Financial Results
Revenue for the three and nine months ended August 31, 2020 increased 64% and 96% year-over-year to $4.7 million and $13.8 million, respectively.
Revenue from cannabis distribution, delivery, and dispensary operations, the Company’s core operating segment, for the nine months ended August 31, 2020 increased 217% year-over-year to $9.3 million.
The Company generated record revenue of $3.5 million from ongoing cannabis operations for the three months ended August 31, 2020, an increase of 94% year-over-year and 30% sequentially.
Gross margin for the nine months ended August 31, 2020 was 31% of revenue, up from 30% of revenue year-over-year, while gross margin from cannabis operations for the nine months ended August 31, 2020 was 30% of revenue, up from 17% year-over-year.
Adjusted EBITDA loss for the three months ended August 31, 2020 decreased 69% year-over-year and 8% sequentially to ($1.3) million.
Net loss from operations for the three months ended August 31, 2020 decreased 59% year-over-year and 8% sequentially to ($1.9) million.
https://www.manifest7.com/2020/10/29/manifestseven-reports-third-quarter-2020-financial-results/
Second Quarter 2020 Financial Results
Revenue increased 116% year-over-year and 23% sequentially to $5.0 million.
Gross profit increased 216% year-over-year and 40% sequentially to $1.8 million.
Gross margin was 35.1% of revenue, up from 24.0% of revenue for the second quarter ended May 31, 2019, and 30.8% of revenue for the first quarter ended February 29, 2020.
Net loss decreased 64% year-over-year and 79% sequentially to ($1.1) million.
https://www.businesswire.com/news/home/20200805005251/en/ManifestSeven-Reports-Second-Quarter-2020-Financial-Results
News
2021/03/02 Interview with Rich TV
2021/02/10 ManifestSeven Announces Expansion of Delivery Operations in Northern California
https://www.prnewswire.com/news-releases/manifestseven-announces-expansion-of-delivery-operations-in-northern-california-301226370.html
2021/02/02 ManifestSeven Opens Scaled Multi-Purpose Facility in San Francisco Bay Area
https://www.newswire.ca/news-releases/manifestseven-opens-scaled-multi-purpose-facility-in-san-francisco-bay-area-855996592.html
2020/11/09 ManifestSeven Receives $4.0 Million USD in Note and Warrant Proceeds
https://ca.finance.yahoo.com/news/manifestseven-receives-4-0-million-141500342.html
2020/10/15 CFN Enterprises Inc. Adds California's Leading Cannabis Distributor to Growing Client Roster
https://ca.finance.yahoo.com/news/cfn-enterprises-inc-adds-californias-110000236.html
2020/09/30 Interview with CSE TV
2019/08/06 Interview with CFN Media
2018/07/19 Interview with ArcView San Francisco
https://www.facebook.com/watch/live/?v=2018066834884564&ref=watch_permalink
CEO: STURGES KARBAN
https://www.linkedin.com/in/sturgeskarban/
https://www.canna-tech.co/speakers/sturges-karban/
COO - Pierre Rouleau
https://www.linkedin.com/in/prouleau/
Board of Director - Kristin Fox
Woman in Cannabis
########################################
My thoughts:
########################################
Comaparing $MNFSF to $PLNHF (Planet13 holdings), yes Planet13 has a luxury retail in Vegas, and opening another in Orange County, CA but $MNFSF is rapidly expanding their supply chain business and their retail footprint. $PLNHF started at $0.59 pps when it first went public in 8/2019, now sits at around $7. That's 1169% growth a little over 2 years with a 1.23B market cap and 177M os
$MNFSF currently $0.35, with 33M market cap and 98M os. Way too under valued IMO.
let's just say $MNFSF can get to around 1B marketc cap... that would be 3000x gain from current $0.35 x 30 = $10.15 pps but it's a long play, at least a year+
Please do you own DD and Analysis
I'm not a financial adviser, this is purely for educational and entertainment purpose only.
All opinions expressed by me shows solely my opinions, you should not treat anything expressed by me as a specific inducement to make any particular invesments.
corguo
4 years ago
DD on $MNFSF CSE: $MSVN undervalued with mass potentials
########################################
INTRO:
########################################
Cannabis is projects to be a 40-60 billion dollar business in a few years, with each state relaxing their laws on recreational use, the market cap and tax revenues are growing by the day. California and Colorado being the two biggest states with the most consumers and retailers markets.
Look at the market cap for some of the big names leading the industry, I'm sure everyone is heard of at least one or two: $CGC (Canoyp Growth), $CRON (Cronos Group), $ACB (Aurora Cannabis), $APHA (Aphria), $TLRY (Tilray).
https://www.investopedia.com/top-canadian-cannabis-companies-by-revenue-4587803
https://www.visualcapitalist.com/9-things-investors-should-know-about-the-cannabis-industry/#:~:text=Political%20Change%20Driving%20Market%20Growth&text=States%20where%20cannabis%20is%20legal,market%20could%20see%20further%20growth.
Lawmakers in Mexico are finalizing the legalization of recreational cannabis, and new regulations means that business will soon to be
able to cultivate and harvest cannabis for medicinal purposes.Mexico is one of the biggest producers of Cannabis, it's been portrayed in Movies such as "Blow" and Shows like "Narcos". Guess whos right next to Mexico? The U.S.! It will benefit both countries to generate exponential tax revenues... but, that's in the near future if they pass the federal legislatives.
########################################
The DD:
########################################
Manifestseven Holdings
https://www.manifest7.com
CSE:$MSVN / OTC:$MNFSF
Currently trading at $0.311 with a 33M market cap and 98M os (as of 03/05/2021)
They have a very solid team, with very experienced executives. Already offers various Cannabis products and services that's generating revenues. They offer subscription services, and B2C direct to consumer delivery service, as well as B2B supply chain service. They also offer accounting, finance, and analytical services to help others to start their own cannabis business.
Rolling Paper - https://www.rollingpaperdepot.com (Cannabis accessories)
Hippi Butler - https://www.hippiebutler.com (Cannabis Subscription boxes)
MyJane - https://www.myjane.com (Cannabis/CBD subscription boxes targeting the ladies)
White Coat Hemp Co - https://www.whitecoathempco.com
Puff Pack - https://www.thepuffpack.com (Cannabis/CBD subscription)
Custom Made Smoke Supply - https://www.cmsmokesupply.com (Cannabis accessories)
Marijuana Index - https://marijuanaindex.com
Vicinity Real Estate Holdings - https://www.vicinityreh.com (Real estate investment company for Cannabis retail)
Highlanders Distribution - https://www.highlandersdistro.com (Cannabis distribution chain)
Weden - https://www.weden.com (Cannabis direct consumer delivery service)
CFO World Wide - https://www.cfoworldwide.com (Accounting, finance, and analytical service to help small business to start their own Cannabis business)
https://www.manifest7.com/#about
Third Quarter 2020 Financial Results
Revenue for the three and nine months ended August 31, 2020 increased 64% and 96% year-over-year to $4.7 million and $13.8 million, respectively.
Revenue from cannabis distribution, delivery, and dispensary operations, the Company’s core operating segment, for the nine months ended August 31, 2020 increased 217% year-over-year to $9.3 million.
The Company generated record revenue of $3.5 million from ongoing cannabis operations for the three months ended August 31, 2020, an increase of 94% year-over-year and 30% sequentially.
Gross margin for the nine months ended August 31, 2020 was 31% of revenue, up from 30% of revenue year-over-year, while gross margin from cannabis operations for the nine months ended August 31, 2020 was 30% of revenue, up from 17% year-over-year.
Adjusted EBITDA loss for the three months ended August 31, 2020 decreased 69% year-over-year and 8% sequentially to ($1.3) million.
Net loss from operations for the three months ended August 31, 2020 decreased 59% year-over-year and 8% sequentially to ($1.9) million.
https://www.manifest7.com/2020/10/29/manifestseven-reports-third-quarter-2020-financial-results/
Second Quarter 2020 Financial Results
Revenue increased 116% year-over-year and 23% sequentially to $5.0 million.
Gross profit increased 216% year-over-year and 40% sequentially to $1.8 million.
Gross margin was 35.1% of revenue, up from 24.0% of revenue for the second quarter ended May 31, 2019, and 30.8% of revenue for the first quarter ended February 29, 2020.
Net loss decreased 64% year-over-year and 79% sequentially to ($1.1) million.
https://www.businesswire.com/news/home/20200805005251/en/ManifestSeven-Reports-Second-Quarter-2020-Financial-Results
News
2021/03/02 Interview with Rich TV
2021/02/10 ManifestSeven Announces Expansion of Delivery Operations in Northern California
https://www.prnewswire.com/news-releases/manifestseven-announces-expansion-of-delivery-operations-in-northern-california-301226370.html
2021/02/02 ManifestSeven Opens Scaled Multi-Purpose Facility in San Francisco Bay Area
https://www.newswire.ca/news-releases/manifestseven-opens-scaled-multi-purpose-facility-in-san-francisco-bay-area-855996592.html
2020/11/09 ManifestSeven Receives $4.0 Million USD in Note and Warrant Proceeds
https://ca.finance.yahoo.com/news/manifestseven-receives-4-0-million-141500342.html
2020/10/15 CFN Enterprises Inc. Adds California's Leading Cannabis Distributor to Growing Client Roster
https://ca.finance.yahoo.com/news/cfn-enterprises-inc-adds-californias-110000236.html
2020/09/30 Interview with CSE TV
2019/08/06 Interview with CFN Media
2018/07/19 Interview with ArcView San Francisco
https://www.facebook.com/watch/live/?v=2018066834884564&ref=watch_permalink
CEO: STURGES KARBAN
https://www.linkedin.com/in/sturgeskarban/
https://www.canna-tech.co/speakers/sturges-karban/
COO - Pierre Rouleau
https://www.linkedin.com/in/prouleau/
Board of Director - Kristin Fox
Woman in Cannabis
########################################
My thoughts:
########################################
Comaparing $MNFSF to $PLNHF (Planet13 holdings), yes Planet13 has a luxury retail in Vegas, and opening another in Orange County, CA but $MNFSF is rapidly expanding their supply chain business and their retail footprint. $PLNHF started at $0.59 pps when it first went public in 8/2019, now sits at around $7. That's 1169% growth a little over 2 years with a 1.23B market cap and 177M os
$MNFSF currently $0.35, with 33M market cap and 98M os. Way too under valued IMO.
let's just say $MNFSF can get to around 1B marketc cap... that would be 3000x gain from current $0.35 x 30 = $10.15 pps but it's a long play, at least a year+
Please do you own DD and Analysis
I'm not a financial adviser, this is purely for educational and entertainment purpose only.
All opinions expressed by me shows solely my opinions, you should not treat anything expressed by me as a specific inducement to make any particular invesments.
corguo
4 years ago
Third Quarter 2020 Financial Results
Revenue for the three and nine months ended August 31, 2020 increased 64% and 96% year-over-year to $4.7 million and $13.8 million, respectively.
Revenue from cannabis distribution, delivery, and dispensary operations, the Company’s core operating segment, for the nine months ended August 31, 2020 increased 217% year-over-year to $9.3 million.
The Company generated record revenue of $3.5 million from ongoing cannabis operations for the three months ended August 31, 2020, an increase of 94% year-over-year and 30% sequentially.
Gross margin for the nine months ended August 31, 2020 was 31% of revenue, up from 30% of revenue year-over-year, while gross margin from cannabis operations for the nine months ended August 31, 2020 was 30% of revenue, up from 17% year-over-year.
Adjusted EBITDA loss for the three months ended August 31, 2020 decreased 69% year-over-year and 8% sequentially to ($1.3) million.
Net loss from operations for the three months ended August 31, 2020 decreased 59% year-over-year and 8% sequentially to ($1.9) million.
https://www.manifest7.com/2020/10/29/manifestseven-reports-third-quarter-2020-financial-results/
Second Quarter 2020 Financial Results
Revenue increased 116% year-over-year and 23% sequentially to $5.0 million.
Gross profit increased 216% year-over-year and 40% sequentially to $1.8 million.
Gross margin was 35.1% of revenue, up from 24.0% of revenue for the second quarter ended May 31, 2019, and 30.8% of revenue for the first quarter ended February 29, 2020.
Net loss decreased 64% year-over-year and 79% sequentially to ($1.1) million.
https://www.businesswire.com/news/home/20200805005251/en/ManifestSeven-Reports-Second-Quarter-2020-Financial-Results
Alwaysbmikki
4 years ago
ManifestSeven Announces Expansion of Delivery Operations in Northern California.......
Wed., February 10, 2021, 4:00 p.m.
Repurposed delivery-only facility in Oakland broadens the operational capabilities and geographic footprint of Weden, the Company's direct-to-consumer division
IRVINE, Calif., Feb. 10, 2021 /CNW/ -- ManifestSeven Holdings Corporation (CSE: MSVN) (OTCMKTS: MNFSF) ("M7" or the "Company"), California's first integrated omnichannel platform for legal cannabis, today announced the expansion of its local on-demand delivery operations in Oakland, California, strategically located in the heart of the San Francisco Bay Area. The move augments the existing operations of Weden—M7's innovative retail marketplace that merges the Company's e-commerce, storefront, and delivery operations into a singular consumer-facing brand—by enhancing its coverage of one of California's most populous and demographically diverse markets.
The Company commenced operations in Oakland in 2018, operating out of a multi-purpose facility that served as one of M7's initial distribution centers as well as a local on-demand delivery hub that established Weden's brand presence in Northern California. Centralizing the Company's Northern California distribution and logistics operations in its new scaled facility in Brisbane has allowed M7 to convert the Oakland facility into one of the region's most robust delivery-only hubs, expanding Weden's operational square footage in Oakland by over 1,000 percent, and significantly broadening its geographic footprint in the San Francisco Bay Area market.
"As one of M7's first operational facilities in California, Oakland has long been a key component of our licensed infrastructure throughout the state," said Sturges Karban, M7's Chief Executive Officer. "As we progress the statewide expansion of our core regulated cannabis operations and advance the Company's business toward consolidated net profitability, we are keenly focused on optimizing the efficiency of our operations. Our newly repurposed Oakland facility will allow Weden to more effectively address the growing demand for cannabis delivery services in local communities throughout the San Francisco Bay Area market that, to date, have been largely underserved."
The delivery-only Oakland hub provides scaled inventory storage and improved logistics and fulfillment capabilities, enabling Weden to offer its customers an expanded and diversified product menu and optimized responsiveness and delivery times. These operational enhancements allow Weden to broaden its geographic coverage of the coveted East Bay Area submarket—one of the most populous regions of the San Francisco Bay Area with over 2.5 million residents—and expand its on-demand delivery service offering to a larger and more concentrated base of local cannabis consumers.
About ManifestSeven:
ManifestSeven is the first integrated omnichannel platform for legal cannabis, merging compliant distribution with a retail superhighway. M7, headquartered in Irvine, California, services the needs of lawful operators across the supply chain, from the cultivator to the consumer, through an expansive network of four facilities stretching from the San Francisco Bay Area to San Diego. M7 further augments its business-to-business value proposition with a growing portfolio of owned and operated retail operations located in major metro markets, including brick-and-mortar dispensaries, local on-demand delivery services, e-commerce, and subscription offerings. Learn more at manifest7.com.
To receive Company updates and be added to the email distribution list, please sign up here.
Follow the Company on YouTube here and join the Company's conversation on Telegram here.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs and assumptions regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. This forward-looking information is based on certain assumptions made by management and other factors used by management in developing such information. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in its entirety by this notice.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained hereinhttps://ca.finance.yahoo.com/news/iiroc-trading-halt-cln-h-140700755.html
Alwaysbmikki
4 years ago
CFN Enterprises Inc. Adds California's Leading Cannabis Distributor to Growing Client Roster
Newsfile Corp.
October 15, 2020
ManifestSeven has built an integrated B2B and B2C operation that goes beyond retail shelves and into the consumer's living room with ecommerce, subscription, and in-store pickup.
Whitefish, Montana--(Newsfile Corp. - October 15, 2020) - CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced the addition of ManifestSeven (CSE: MSVN) to its growing client roster in the cannabis industry.
ManifestSeven
To view an enhanced version of this logo, please visit:
https://orders.newsfilecorp.com/files/6612/65994_697ccf14f4a74b19_001full.jpg
CFN Media will leverage its proprietary digital content platform and extensive distribution to attract qualified retail, accredited and institutional investors to ManifestSeven.
"We are excited to be working with a true pioneer that is unlocking value in regulated cannabis distribution; in the biggest US market," said CFN Media President Frank Lane. "The company's innovative platform extends the reach of conventional cannabis operations to last-mile consumers through ecommerce and delivery while increasing revenue through subscriptions and other next-generation business models."
ManifestSeven has created a frictionless cannabis supply chain and normalized the retail experience through an optimized and easily accessible logistics platform. Businesses can access its logistics services to bring products from wholesale to retail while consumers can access retail products through delivery, storefront, ecommerce or subscription boxes.
The company recently closed an aggregate of $10.2 million in gross proceeds raised from three private placements of equity and convertible debt in 2020.
"This is a critical partnership for M7 as we prepare to list on the Canadian Securities Exchange under the ticker symbol MSVN," said Sturges Karban, CEO of ManifestSeven. "Our company has successfully completed a capital raise and remained resilient in the face of economic headwinds, which is why it's so important to have CFN Media help share our story with the broader market."
About ManifestSeven
ManifestSeven is the first integrated omni channel platform for legal cannabis, merging compliant distribution with a retail superhighway. M7, with offices in Commerce and Irvine, California, services the needs of lawful operators across the supply chain, from the cultivator to the consumer, through an expansive network of four facilities stretching from the San Francisco Bay Area to San Diego. M7 further augments its business-to-business value proposition with a growing portfolio of owned and operated retail operations located in major metro markets, including brick-and-mortar dispensaries, local on-demand delivery services, e-commerce, and subscription offerings.
About CFN Enterprises Inc.
CFN Enterprises Inc. (OTCQB: CNFN) is a digital media and ecommerce company focused on advancing businesses and brands in highly regulated emerging industries across the globe. CFN connects investors with new market opportunities while helping consumers find innovative products that enhance their lives. Learn more at www.cfnenterprisesinc.com.
CFN Enterprises Inc. Media Contact:
CFN Enterprises Inc.
+001 (833) 420-CNFN
investors@cfnenterprisesinc.com
FORWARD-LOOKING STATEMENT
Use of Forward-looking Statements
This press release may contain forward-looking statements from CFN Enterprises Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when CFN Enterprises Inc. describes the potential acquisition of BarNone assets and the related benefits, its pursuit of M&A opportunities, growth in CBD sales and spending on affiliate marketing, and uses other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, CFN Enterprises Inc. is using forward-looking statements. These forward-looking statements are based on the current expectations of the management of CFN Enterprises Inc. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial markets; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; or, loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of CFN Enterprises Inc. to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, CFN Enterprises Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting CFN Enterprises Inc., reference is made to CFN Enterprises Inc.'s reports filed from time to time with the Securities and Exchange Commission.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65994
https://ca.finance.yahoo.com/news/cfn-enterprises-inc-adds-californias-110000236.html
Alwaysbmikki
4 years ago
ManifestSeven Reports Third Quarter 2020 Financial Results
October 29, 2020
Quarterly and year-to-date revenue respectively up 64% and 96% year-over-year
Record revenue and robust growth in cannabis operations
Dynamic customer acquisition growth across all operating segments
Quarterly operating expenses decreased by 42% year-over-year and 17% sequentially
Results continue to advance the Company on its pathway to net profitability
ManifestSeven Holdings Corporation (formerly P&P Ventures Inc.) ("M7" or the "Company") (CSE: MSVN), California's first integrated omnichannel platform for legal cannabis, today announced its financial results for the three and nine months ended August 31, 2020. The results follow last month's listing ("Listing") of the Company's common shares on the Canadian Securities Exchange. All financial information in this press release is provided in U.S. dollars unless otherwise indicated.
"We are happy to announce our third quarter financial results, which demonstrate the strides M7 continues to make in positioning itself in California as the first integrated omnichannel platform for legal cannabis," said Sturges Karban, M7's Chief Executive Officer and Director. "I am particularly proud of our team for continuing to drive growth despite the extraordinary adversity and uncertainty that M7—like many businesses across all sectors around the world—has confronted during the last several months."
Financial Highlights:
Revenue for the three and nine months ended August 31, 2020 increased 64% and 96% year-over-year to $4.7 million and $13.8 million, respectively.
Revenue from cannabis distribution, delivery, and dispensary operations, the Company's core operating segment, for the nine months ended August 31, 2020 increased 217% year-over-year to $9.3 million.
The Company generated record revenue of $3.5 million from ongoing cannabis operations for the three months ended August 31, 2020, an increase of 94% year-over-year and 30% sequentially.
Gross margin for the nine months ended August 31, 2020 was 31% of revenue, up from 30% of revenue year-over-year, while gross margin from cannabis operations for the nine months ended August 31, 2020 was 30% of revenue, up from 17% year-over-year.
Adjusted EBITDA loss for the three months ended August 31, 2020 decreased 69% year-over-year and 8% sequentially to ($1.3) million.
Net loss from operations for the three months ended August 31, 2020 decreased 59% year-over-year and 8% sequentially to ($1.9) million.
https://ca.finance.yahoo.com/news/manifestseven-reports-third-quarter-2020-131500071.html
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