I'm doing a tribute to the 24 days of Christmas by going over the financial statements of 24 companies that are considered downrange, speculative, and just plain high risk. Our first six stops is fondly captured here, the second one is here. All opinions are my own, and certainly not a recommendation for or against any of them, or to buy or sell. Many are companies I've never looked at before. In some cases, I'd never even heard of them. I limited myself to 45mins to each, and kept mainly to most recent financial statements and MD&A's. You'll likely know more about the company than me if you're following them. This is only my reactions with a brief commentary about what I saw in the financial statements. QCC - Quadron Cannatech Corp
Business risk of product is in being islanded.
Returns driven by manufacturing.
Doubled sales, losses multiplied by 20x in same timeframe
Some sales in the pipe, income statement will improve over next six months.
Capital structure is shitty, but in line with this peerset. These guys have the added bonus of sigh not one, but two (2!) classes of preferred as well.
Nice motivation built into Note 9 on class B preferred shares. Wish more companies did this.
Options and warrants outstanding are long dated, plentiful, and very expensive.
If one wants exposure to peripherals, this is one way. Financials aren’t bad, but manufacturers won’t drive the same margins demanded by share price levels, and only indirectly connected to cannabis. Cheap foreign goods an ever present threat. CMM - Canabo Medical Inc.
Did a share repo on November 28. Don’t hear that often in this sector. Perhaps a first.
Hard to get a handle on the business model and value points. I mean, it’s easy enough to spot, I just doubt there’s any return money in it.
I think recreational is going to kill these guys. Research might be the only thing they’re doing in a couple of years. Someone somewhere will disagree. They’re going to run out of granny’s fast. Even if there is alot of granny’s, they’re gonna be in competition with everyone to get their annual Christmas baking. ISOL - Isodiol International (in USD unless noted)
The Crystal Clear insertion has a story behind it. Shares for shares. Looks like Dad is now a chaperone.
Size of receivables a concern. As is inventory build.
Acquiring. Carlsbad and another un-named pre-stage producer. And ISO Intl. too.
Also spent $250k on ‘Pot-o-Coffee’, whatever the fuck that is.
Spent $250k on some really nice office furniture.
Page 6 of interim financials triggered my gag reflex
Since none of these outfits knows how to hedge forex exposure, I’ll offer to do it. Call me, or pm me. It’s worth the cost. I’ll sign an NDA. I was under 7 at one point, I’m trustworthy.
margin is good. consultant dependency and wages aren’t.
66% of all assets is goodwill.
There is 68 individual notes to share capital composition. Details of Page 6. I just gagged again.
50 million warrants hanging out at $0.33CAD, another 20MM options at $0.19
Capital structure looks like a teenager after meeting Freddy in ‘Nightmare on Elm Street’
Ok. They’ve got assets, revenues, and margin. They’ve also got a shit ton of balance sheet leverage. Capital structure is detailed, but without a super-computer and Stephen Hawking sitting beside me, it’s hard to get a handle. Good apparent disclosure, but simply shifts onus of risk onto reader to unwind. There’s a business in here underneath all of the shit. They also have excellent ‘pot-in-coffee’ and really (really) nice furniture. Whether the business can pay for it all, I can’t tell. Needlessly busy in financials. IMH - Invictus MD
Best defined as ‘conglomerate’
Backed off non-core revenues despite hit to margin. Given attendant G&A expansion, not surprising
Intangibles 50% of assets
profitable in front of store, marketing expense killing them. Sales force needs to pay for itself soon. Expense accounts are way too big relative to output
G&A is a car with no brakes
Dumped $12MM this year, excluding acquisitions. Hope it was all on build, hard to tell
Buying servers and trimming equipment
Puked $46MM onto balance sheet as ACMPR ‘license’ cost. Ugh. ‘Intangibles’ my ass.
New CFO isn’t a good negotiator
Optionality understated in capital structure. Disingenuous on face. Long dated, buckets of money hiding in here. Needlessly clever.
That said, decent disclosure on many parts. Why wrap a gift in saran wrap? More going on.
A brusque 17 pages. This one could use more time. Decent underlying business - while speculative - it has real assets. Capital structure has some plug ins and a few moving parts that beg questions. All a quick scan did was increase curiosity. If the elves had time, they’d want to look at the frame on this one and check for corrosion. Theres alot not said here. MDM - Marapharm Ventures
Nice sales pitch in investor deck..tried and true, but unoriginal
Balance sheet okay, assets/liabs fine. Lots of junk in the trunk
Was good until changes in shareholders equity
How exactly does ‘investor relations’ expenses comprise 30% of a company’s losses in a fiscal year?
Had to wait until page 6 to find out that working capital is “not sufficient to meet its operating, administrative costs, acquisitions and other commitment(s)”
Needs money. Bad. Like ‘EAT needs money’ bad.
If you can figure out Note 13, you’re very good. Please send me a pm explaining it.
Management is modest in cash withdrawals
No clue what they’re doing in the Canadian division, virtually all revenue exposure to - US market but massive expense attribution from up North. Groundbreaking.
There shouldn’t have been a page 30 that calculates prior period adjustments. A million point two. Yet, there it is. On page 30.
Chambering shells on assets, but high risk of a rimfire at this point.
Veritas feels like a money pit
Way too much going on in the ass end of this one. US exposure is one thing, growing and selling dope is alot simpler than this is though. A 31 page effort. Industry average ffs. These guys though have potential to be at 70 pages. Get a straight answer if you can. ATT - Abattis Biocuetical Corp.
Hard to get past the news releases on Sedar. My pdf viewer wont let me view ‘Report of exempt distribution excluding Schedule 1 of 45-106F1’ - whatever that is
June 2017 last date found for filings. Any updated info is somewhat desired and semi-willingly accepted.
Company lost 5x as much money than a year ago
When ‘Accounting & Audit Fees” are the second line on your income statement….at $88,904 and the first line on income statement of revenue, is….$54.00.…you’ve got issues
Another line of expenses is $1.2MM of management fees. One might deem this material.
So does the $2.067MM loss recorded for the period.
“These factors indicate the presence of a material uncertainty that may cast significant doubt on the ability of the Company to continue” Yep. I’ll go with that.
Thank god the company has positioned itself to be a ‘leading service provider’. If they didn’t have ‘integrated solutions’ at the ready, I’d be suspect about it’s future.
I’m out. Please call “Robert Abenante“ for more information.
This dog don’t hunt. That said, I can’t attest to it being a ‘dog’, or that it even knows what ‘hunt’ even means. Who the fuck suggested this one? Why did I listen? All I have now is unruly elves, sadist. I hope you are proud. And now, we’re short 5 companies to complete the Dive Bar Pub Crawl before Christmas. Please, if you are reading this, send help. The elves need 5 more stocks. Anything but ICC - Luis Suárez has already tipped then off, they’re on it.
Hi Forex Guy, Does Renko Chart show gap that correspond to candlestick price chart especially if the price gap is larger than the renko brick size? Reply. Dale Woods says: December 3, 2018 at 6:47 pm . It depends on the renko engine if gaps are shown or not. Leave a Reply Cancel reply. Your email address will not be published. Required fields are marked * Comment * Name * Email * Website. Save ... Abe Cofnas - The Forex Trading Course (2008 Version) (learn4x.com) ... David Wood - Upstream Petroleum Fiscal and Valuation Modeling in Excel – 11.01.2017 10:14:21: Dean LeBaron - Treasury of Investment. Wisdom 30 Great Investing Minds – 11.01.2017 10:14:21: Delta Society - Walles Wilder - The Delta Phenomenon – 11.01.2017 10:14:21: Dennis Eisen - Using Options to Buy Stocks. Build ... REQ cultures of expertise in global currency markets pdf (Req) 5 ema*s forex system "Precision Market Timing" from ewef.net any one please share [Req] The Secret Club That Runs the World: Inside the Fraternity of Commodity Traders ; REQ hasbrouck-space-time-forecasting; Mean Reversion Trading Systems by Howard Bandy - request - (req) M0nthly Inc0me Machine; Does Any One Have Read Unified ... Hey there, some of you were asking about MS Excel Spreadsheet for drawing PnF charts.. So here it is, free to download and use. Press here to download. *If download doesn’t start – try to click right mouse button and select “SAVE LINK AS.” Download Forex Money Management Calculator In Excel SpreadSheet . For more information about forex please visit our site Spreadsheet Log Gt Stock Forex Futures Options The Guy Has Made Different Spread Sheet Journals For Stocks Futures Options Etc' 'How to Create Your Own Trading Journal in Excel May 8th, 2018 - A tool that belongs in every successful traders tool box is a Trading Journal Here we will show you how to create a Trading Journal in Excel' 'Trading Journal Spreadsheet Software Trading Reviews and May ... If so, you definitely want to download the free Forex chart patterns PDF that I just created. It contains all three price structures you studied above and includes the characteristics I look for as well as entry rules and stop loss strategies. Click the link below and enter your email to get instant access to the cheat sheet. Leave a Comment: Name * E-Mail * Website. Save my name, email, and ... Candlestick patterns explained with examples or Pdf? The bullish engulfing pattern is a candle reversal pattern. The second candle absolutely ‘engulfs’ the actual frame of the first one, without regard to the length of the tail shadows. The bullish engulfing pattern seems in a downtrend and is a mixture of one darkish candle observed with the aid of a bigger whole candle. Forex Entry Point ... Forex for Dummies PDF Version. What is Forex Trading. Foreign exchange, popularly known as 'Forex' or 'FX', is the trade of a single currency for another at a decided trade price on the over-the-counter (OTC) marketplace. Forex is definitely the world's most traded market, having an average turnover of more than US$4 trillion each day. Compare this to the New York Stock Exchange, that has a ... The Forex Guy's Trading Strategies. Minimize Losses - Maximize Profit - Magnify Success. Home / Metatrader How To Tutorials / How To Make Your Own Custom Chart Template For Metatrader 4. Forex Trading Articles Metatrader How To Tutorials. How To Make Your Own Custom Chart Template For Metatrader 4 . By Dale Woods October 6, 2016 June 28, 2017. Content Index. MT4 Templates Explained; Creating ...
The Beginner's Guide to Excel - Excel Basics Tutorial ...
Most traders think fear and greed control the markets. At Trade ATS we have a completely different view on this topic. When you or any other person trades in... Convert Table in a PDF File to Excel - Duration: 4:37. Doug H 86,217 views. 4:37 . Excel: How to Best Import External Data into Excel & Import data from the Web to Excel - Duration: 11:16. Leila ... If you like this video, here's my entire playlist of Excel tutorials: http://bit.ly/tech4excelLearn the basics of using Microsoft Excel, including the anatomy o... Learn how to use Microsoft Excel to refresh your skills or prepare for excel interview in this quick Tutorial. ----- BECOME A FAN: Subscribe on YouTube... Akin The Computer Guy Recommended for you. 26:32. PDF TO EXCEL How to Convert PDF to Excel just 1 Click (Online & Offline ) - Duration: 4:51. RB-Tech 78,890 views. 4:51. How To Convert pdf to ... Trendline Breakout forex Trading Strategy WithThe Complete Guide to Breakout Trading A breakout occurs when the price moves beyond a certain level. So, brea... Trading Platform I Use: https://www.tradingview.com/gopro?offer_id=10 Brain FM: 20% off code “michaelbamber” https://brain.fm/michaelbamber Recommended... The 4 forex strategies that every trader should know ! 🚨🚨Trading Performance 🚨🚨 Improve Your Trading Performance at our Fundamental Trading Academy https://w... When Tatsuo Horiuchi retired, he decided to try his hand at art. But instead of spending money on paints and brushes, Horiuchi used what he already had pre-i... The Best Candlestick Patterns to Profit in Forex and binary - For Beginners trading forex, forex strategy, forex,Online Trading Strategy #Candlestick_Pattern...