So I've had a look through the quarterly of other cannabis stocks, mainly to have a look at their sales/receipts, manufacturing costs, total loss for the quarter and staff/administration costs.
It was also interesting to see the generous government grants and tax incentives some companies received which really helped the bank balance.
For me, it was more a matter of comparing and seeing that most other companies seem to be struggling with cost of sales and expenses. Yes, our burn rate is high (research expenses sure did contribute to that figure), but you start to see that our numbers don't stack up that badly compared to the rest of the competition.
We are up there with sales and one of the lowest when it comes to staff/administration costs. We did not receive any government grants and/or tax incentives this quarter - despite some companies receiving generous incentives.
Even our loss is relatively the same as the rest of the sector.
In order from highest sales/receipts:
EXL - $3.97mil receipts / manufacturing costs $4.643mil (total $9.049mil loss)
- $7.024mil staff/administration costs
- $0 government grant and/or receipts
CPH - $1.44mil receipts / $667k manufacturing costs (total $1.164mil loss)
- $1.9mil staff/administration costs
- $0 government grant and/or tax incentive
BDA - $1.257mil receipts / $923k manufacturing costs (total $884k loss)
- $891k staff/administration costs
- 884k government grant and/or tax inventive
THC - $1.22mil receipts / manufacturing costs $1.055mil (total $1.7mil loss)
- $1.815mil staff/administration costs
- $193k government grant and/or tax incentive
CAN - 12k receipts / manufacturing costs $1.67mil (total 3.32mil loss for the quarter)
- $2.514mil staff/administration costs
- $502k government grant and/or tax incentive.
LGP - $630k receipts / cost of sales $521k (total $2.2mil loss)
- $1.9mil staff/administration costs
- $0 government grant and/or tax incentive
MXC - $832k receipts / $798k manufacturing costs (total $1.8mil loss)
- $823k staff/administration costs
- $0 government grant and/or tax incentive
AC8 - $0 receipts / $392k manufacturing costs (total $522k loss)
- $1.21mil staff/administration costs
- $1.2mil government grant and/or tax incentive
ZLD - $234k receipts / $0 manufacturing costs (total $1.5mil loss)
- $357,000 staff/administration costs
- $0 government grant and/or tax incentive
BOT - $0 receipts / $0 manufacturing costs (total $3.1mil positive)
- $1.392mil staff/administration costs
- $7.56mil government grant and/or tax incentives
CP1 – $0 receipts / $0 manufacturing costs (total $5k positive)
- $105k staff/administration costs
- 589k government grant and/or tax inventive
The biotech game is a tough sector (especially for start ups), millions of dollars pumped into research and development in the hope of being able to commercialise on it all.
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