I've read through the financial report quickly and
Post# of 56324
Posted On: 05/21/2014 7:31:01 AM
I've read through the financial report quickly and here's my 2 cents - it was in line with what we would have expected - the outside financing shown as revenue (as we "sold" a portion of the company for future earnings rights). This has a value of $5M with construction costs absorbing ~$1.8M and $3.0M left as reported cash to address further construction and operational costs until licensing and sales are in place for MMJ. Beyond that, nothing much moving into/out of the business from a financial standpoint.
The remaining revenue only totals $169k - I assume this is the nutritional supplements side of the business and nothing from Hemp Technologies - can anyone clarify?
Inventories were listed as $465k. Again, if these are assumed to be all associated with the nutritional supplements, then that side of the business is not going anywhere as we have ~9 months of inventory sitting around. I understand that we're not invested in FITX for the supplements, but it should be noted that portion of the business is not performing. It should not be a surprise when that portion of the company is either sold or dissolved once MMJ/hemp takes off.
Page 17 states a further $631k in loans were received from a financial group - I assume this was before the $20M influx - does anyone know who we are indebted to for the $631k?
Regards,
kbulldog.
The remaining revenue only totals $169k - I assume this is the nutritional supplements side of the business and nothing from Hemp Technologies - can anyone clarify?
Inventories were listed as $465k. Again, if these are assumed to be all associated with the nutritional supplements, then that side of the business is not going anywhere as we have ~9 months of inventory sitting around. I understand that we're not invested in FITX for the supplements, but it should be noted that portion of the business is not performing. It should not be a surprise when that portion of the company is either sold or dissolved once MMJ/hemp takes off.
Page 17 states a further $631k in loans were received from a financial group - I assume this was before the $20M influx - does anyone know who we are indebted to for the $631k?
Regards,
kbulldog.
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