Soap Box, page-233

Reading the report gave me some inspiration to check just how large ECS could become in future. I've included 5 of the largest cannabis companies listed on the NASDAQ (some are dual-lsited) that have already reported FY23 results (some won't report until end of this month e.g. Curaleaf, Cronos). I've added our little battler at the bottom and converted all figures from USD to AUD using 1.53 as the conversion rate.



Funnily enough, out of all of these companies ECS is the only one that's profitable. Not much of a surprise since the race overseas was to capture market share and focus is only now starting to turn to profitability which means ECS is ahead of the game in that respect. ECS also has one of the largest reaches by country, they are operating in Australia, New Zealand, Germany, Poland, Switzerland and the UK.

Anyway, point of this post was to have a look at how large some of the companies overseas are and to see (hope) how large ECS could become in future. Revenues are still small compared to these big boys, but with FY24 revenue already guaranteed to be over $20m and possibly closer to $30m (if we see >$8m in the next 4c) I think the race at the moment for ECS is to get a substantial market cap behind it as a way of protecting itself from a takeover - similar to what RIM did when Palm was trying to buy it. I have no doubt that with Nan's quality leadership we should be able to move from the bottom rung on this table to perhaps second or third bottom in the next few years.