Friday Night Inc. TGIF/VPGDF Earnings report is out.
sedar.com/FindCompanyDocuments.doPosted Nov 29, 2017, 4:58 AM UTC
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sedar.com
Here's a direct link to the PDF. You'll have to fill in the captcha code.
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Analysis TLDR $2.6M loss. Wasted money pursuing potential business deals that didn’t pan out. Trying to sell software that mgmt has no time for since focus is all in Nevada going forward. Only acquired Nevada 45 days prior to end of Q4. Holding onto $600K cash. Mgmt confident will be able to raise enough capital to relieve liabilities which is now $6M including 2016.
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Link not working?
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Income tax of only $67k on $1M revenue? That's less than 7% tax rate. There's no way this is true in light of 280E. Are they hiding the ball on us?
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Seriously, all these TGIF fans on here and no one is considering the implications of 280E?
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Buy the dip
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1 million in revenue for 5 weeks. Obviously revenue isn’t the end all be all in a brand new growth industry like this but some comparison from a couple recent quarterly reports. Emc quarterly revenue for a full 12 weeks 590,000 Mari quarterly revenue for a full 12weeks 720,000 So 1 million for 5 weeks is pretty decent. Not a huge fan of the 2.6 million loss but some of this is one time incurred costs from the quickflo RTO and the acquisition of AMA. Disclaimer: holding TGIF long and like the direction they are headed.
Do you know TGIF's sales price/gram? I recall seeing outsized numbers on this due to the supply shortage. If true, that significantly inflates their revenues in the opening 5 weeks, and shuoldn't be relied on as guidance going forward.
Just a thought to keep in mind.
No that is a good question and good point. I don't think the shortage in Nevada is going to end any time soon though and prices will remain high for the near future. They will start producing more with their new partnership and even more when the new building is up and running so hopefully that will offset the prices once more supply comes online.