Ann: FY24 Results - Record Harvest, Profit and Revenue, page-41

Since a few people have come on here now messing up gain on bios I'll make a few things clear for all. The only difference between revenue and gain on bios is product has exchanged hands for one and is expected to change hands in the future for the other. If a company has claimed income through gain on bios but the product doesn't exchange hands (so cash not received) or is exchanged hands for less money than anticipated they have to back-out the income they declared (using gain on bios) via inventory write-down. So there is a check and balance in place to ensure it doesn't get messed up.

There were some problems initially in Canada with companies claiming too much income on gain in bios which then had to be backed out when the product wasn't sold. So these companies went from having big profits to big losses very quickly. The industry has learnt its lesson and come a long way since then. Australia being a medicinal only country also has an additional measure in place which helps mitigate any risk of product not being sold. In order for a company to get approval from the ODC to grow more they need to show proof of contracts (offtakes etc) to the ODC who will only then allow them to cultivate more product. This measure is in place to prevent the buildup in inventory of a drug in Australia and aligns with the UN convention.

I feel like I have to post something similar every few months lol. Wish there could be a sticky function or something similar on HC.