Pennyes
2 years ago
Its game over for this Shitstock, 60Million+X2=118.7M losses, got to be kidding ahooos!!'
WTF Auxly.....a pathetic ponzhi schemer like most!!!!
Total other incomes and losses for the nine months ending September 30, 2022 of $66.4 million include the first quarter losses associated with the closure of the Auxly Annapolis and Auxly Annapolis OG facilities where the carrying value exceeds the fair value less cost to sell.
Net losses attributable to shareholders of the Company were $60.1 million for the three months ended September 30, 2022, representing a net loss of $0.07 per share on a basic and diluted basis. The net loss of $118.7 million through nine months of 2022 includes the net impact of approximately $25.7 million related to the closure of the Auxly Annapolis and Auxly Annapolis OG facilities during the first quarter of 2022.
Bonno
2 years ago
Re-Doomed!!!
Cannabis Business Info Since 2011
Home / Canada
Auxly sells Nova Scotia outdoor cannabis farm for less than it invested
BonnoAugust 12, 2022
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Canadian marijuana operator Auxly Cannabis Group sold an outdoor cultivation site in Hortonville, Nova Scotia, for proceeds of 4.1 million Canadian dollars ($3.2 million) – significantly less than what it invested in the facility.
As of 2021, Auxly had spent roughly CA$11.4 million to build and develop the Auxly Annapolis OG outdoor cultivation facility and anticipated spending CA$3.5 million more to finish it, according to regulatory filings.
The sale to a private buyer comes shortly after Auxly sold its indoor cultivation site in Nova Scotia in July for proceeds of CA$6 million. That total was also less than Auxly spent on the facility.
Auxly, previously Cannabis Wheaton Income Corp., bought that indoor facility in a CA$14 million deal to acquire Robinson’s Cannabis in 2018.
The nearby outdoor site was announced in 2019.
Toronto-based Auxly closed both Nova Scotia facilities in February, resulting in the loss of 55 jobs.
At the time, Auxly disclosed that it “never commenced cultivation activities at (the outdoor site), instead utilizing the space for additional storage and processing capacity.”
The CA$10.1 million in proceeds from selling both Nova Scotia sites will be used “to support Auxly’s ongoing operations,” the company said in a Wednesday news release.
In a statement, Auxly CEO Hugo Alves said the company “committed to identifying opportunities to reduce costs, streamline operations and source additional capital in a non-dilutive way” as it aims for positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization).
Auxly shares trade as XLY on the Toronto Stock Exchange.
Bonno
2 years ago
Re-Doomed!!!
Cannabis Business Info Since 2011
Home / Canada
Auxly sells Nova Scotia outdoor cannabis farm for less than it invested
BonnoAugust 12, 2022
SHARE
Canadian marijuana operator Auxly Cannabis Group sold an outdoor cultivation site in Hortonville, Nova Scotia, for proceeds of 4.1 million Canadian dollars ($3.2 million) – significantly less than what it invested in the facility.
As of 2021, Auxly had spent roughly CA$11.4 million to build and develop the Auxly Annapolis OG outdoor cultivation facility and anticipated spending CA$3.5 million more to finish it, according to regulatory filings.
The sale to a private buyer comes shortly after Auxly sold its indoor cultivation site in Nova Scotia in July for proceeds of CA$6 million. That total was also less than Auxly spent on the facility.
Auxly, previously Cannabis Wheaton Income Corp., bought that indoor facility in a CA$14 million deal to acquire Robinson’s Cannabis in 2018.
The nearby outdoor site was announced in 2019.
Toronto-based Auxly closed both Nova Scotia facilities in February, resulting in the loss of 55 jobs.
At the time, Auxly disclosed that it “never commenced cultivation activities at (the outdoor site), instead utilizing the space for additional storage and processing capacity.”
The CA$10.1 million in proceeds from selling both Nova Scotia sites will be used “to support Auxly’s ongoing operations,” the company said in a Wednesday news release.
In a statement, Auxly CEO Hugo Alves said the company “committed to identifying opportunities to reduce costs, streamline operations and source additional capital in a non-dilutive way” as it aims for positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization).
Auxly shares trade as XLY on the Toronto Stock Exchange.
Bonno
2 years ago
Auxly sells cannabis cultivation facility in Nova Scotia, yielding CA$6 million
Bonno
July 5, 2022
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Canadian producer Auxly Cannabis Group sold its Auxly Annapolis indoor cultivation site in Kentville, Nova Scotia, for total proceeds of 6 million Canadian dollars ($4.6 million).
Proceeds from the sale of the facility to an undisclosed “private purchaser” will be used “to support Auxly’s ongoing operations,” the company announced in a Tuesday news release.
“Being able to monetize this non-core asset to strengthen our cash position in a non-dilutive way is fantastic for the company and provides us with additional capital to support Auxly’s strategic objectives,” CEO Hugo Alves said in a statement.
Auxly shuttered the Kentville facility and another site in Hortonville, Nova Scotia, in February, cutting roughly 55 jobs.
The Hortonville facility, an outdoor cultivation site called Auxly Annapolis OG, is still up for sale, a company spokesperson told MJBizDaily.
Business leaders need reliable industry data and in-depth analysis to make smart investments and informed decisions in these uncertain economic times.
Toronto-based Auxly, then called Cannabis Wheaton Income Corp., acquired the Kentville facility from Robinson’s Cannabis in an all-stock deal that closed in 2018.
Auxly is attempting to achieve profitability on the basis of adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).
The company reported an adjusted EBITDA loss of CA$5.6 million in its most recent quarter.
BlueGreenPower
3 years ago
Auxly Cannabis has 135 per cent upside, says Raymond James
“While as expected seasonally soft 1Q22 sales did impact XLY, the company maintained its #1 national position in Cannabis 2.0 sales, moved into the #4 position by total adult-use sales, and drove strong sales in its relatively newflower category,” Sarugaser said. “We expect sales will rebound in 2Q22 and escalate materially through 3Q and 4Q22, driven by a growing national market, XLY’s continued capture of market share, and XLY now having put some 1Q22 supply chain and flower availability headwinds in the rearview, for the most part.”
https://www.cantechletter.com/2022/05/auxly-cannabis-has-135-per-cent-upside-says-raymond-james/#
To me a .40 price target seems resonable considering they're the leader of Cannabis 2.0 and hold a 20% national market share in exploding vape sales. Now that Auxly has two Imperial connected board members the fat is getting cut and better business strategies are being adopted. Like acquiring 100% of Sunens which should drive down concentrate and flower costs now and in the future. Glad to see cannabis sales are increaasing in the current quarter for the next report. Fingers Crossed :) glta
Canadian cannabis sales rebound strongly in March to record CA$358.8M
https://mjbizdaily.com/canadian-cannabis-sales-rebound-strongly-in-march-to-record-ca358-8-million/
BlueGreenPower
3 years ago
**NEWS** AUXLY REPORTS Q1 2022 FINANCIAL RESULTS
Hugo Alves, CEO of Auxly, commented: "Amid intense and growing competition and seasonal buying trends in the Canadian cannabis market, Auxly continued to see strength in sales, increasing revenues 147% year-over-year. Though this quarter presented some ongoing supply chain and operational challenges preventing us from meeting consumer demands for our branded cannabis products, we believe we have taken the necessary steps to correct these issues for the coming quarters, allowing us to increase fill rates and continue with our exciting new product launches throughout the year. We continue to lead the market in cannabis 2.0 products and remain focused on building to leadership in dried flower and pre-rolls and improving our business to achieve our goal of reaching adjusted EBITDA profitability."
https://finance.yahoo.com/news/auxly-reports-q1-2022-financial-112000752.html
Looks like Auxly did some balance sheet house cleaning this quarter, which is never pretty, but sometimes necessary when rightsizing a company. Looks like many cannabis companies are using this quarter to write down previously overoptimistic acquisition evaluations. This quarter Auxly had $33 million in gross revenues, but excise taxes took a third of it. To me this is way too much to ask of cannabis companies in a nascent industry. This raises product prices and keeps the black market in business. Tax relief needed.
Still Auxly is #1 in cannabis 2.0 sales, and projecting EBITDA positive in 2022, where Aurora and Canopy are projecting 2023. On the conference call company execs are still big on automation lowering labor costs and speeding up supply to the provinces. Looking forward to the bigger summer/fall selling seasons to get Auxly to over the top. always imho glta
BlueGreenPower
3 years ago
181 per cent upside to Auxly Cannabis, says Research Capital
“We view the streamlining of cultivation assets to be positive mainly due to three reasons,” Velagapudi said. “Firstly, this enables the company to turn relatively asset light. Secondly, the potential proceeds from the sale will boost the capital position. Thirdly, the cost savings from lower operating expenses will improve profitability.”
https://www.cantechletter.com/2022/02/181-per-cent-upside-to-auxly-cannabis-says-research-capital/#
Glad to hear Auxly is implementing automation in pre-rolls, which are labor intensive when handmade manually. If the first Reddit reviews are any indication Kolab's Live Terpene Sicks are a big hit with lots of likes. Infused pre-rolls are a major category in mature US markets, and just getting started Canada. To me the price target is way too low, and underestimates cannabis 2.0 market share. Believe 2022 will be a great year for concentrates!!! Fingers Crossed :) glta
Kolab Project - 232 Series Live Terpene Sticks - 27.9% THC
https://www.reddit.com/r/TheOCS/comments/sivw1i/kolab_project_232_series_live_terpene_sticks_279/
BlueGreenPower
3 years ago
**NEWS** Auxly Announces Cultivation Optimization Plan and Related Cost Savings Initiatives
TORONTO, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX - XLY) (“Auxly” or the “Company”), a leading consumer packaged goods company in the cannabis products market, announced today that the Company has closed its Robinsons cultivation facilities located in Kentville and Hortonville, Nova Scotia, as the Company continues to focus its efforts on streamlining and simplifying its cultivation platform, reducing costs and achieving its goal of becoming adjusted EBITDA positive by the first half of this year.
https://finance.yahoo.com/news/auxly-announces-cultivation-optimization-plan-213000138.html
I liked this acquisition back in the day when outdoor looked like a good option to grow large amounts of low cost biomass for extracts. Now with Sunens Farms Auxley can greenhouse grow higher quality biomass year round. Smart move. imho glta
Looks like infused pre-rolls are the next big thing coming up...
https://mjbizdaily.com/flower-still-king-of-us-marijuana-market-though-supremacy-waning/
BlueGreenPower
3 years ago
This partnership with Fire & Flower sounds good...
Fire & Flower Launches E-Commerce Dispensaries for Canadian Licensed Producers’ Brands
"We're excited to engage directly with consumers through Fire & Flower's advanced consumer technology," said Andrew MacMillan, SVP Commercial, Auxly. "To successfully compete in today's competitive cannabis market, it is essential to understand purchase habits and preferences. Through our newly branded e-commerce dispensaries, not only can we track consumer activity right through to purchase and conversion, but most importantly, we are also delivering an enhanced experience of our brands. This direct-to-consumer online model will drive new opportunities to more effectively serve our expanding customer base and support our sales growth."
https://finance.yahoo.com/news/fire-flower-launches-e-commerce-123200457.html
This could provide more positive data driven outcomes based on real time sales of Auxly products. Like adjusting inventory product production to what's hot and what's not immediately. Also directing customers to Auxly's store should give them a more premium experience, with more ability to expand on product info.
Hey vinovista, Thanks for posting all the Auxly info :)
I've been watching and waiting for a good entry point. Not sure if this is it but I took a starter anyway. Like that Auxly is #1 in cannabis 2.0, which is good place to be. Expecting Canada's 15% 2.0 market share to quickly match California's 40% as more products roll out in 2022. To me Auxly is positioned well to profit as consumers switch from smoke to vapor. glta
Marijuana concentrate sales up 40% as more consumers turn to the product category
https://mjbizdaily.com/marijuana-concentrate-sales-up-40-percent-as-more-consumers-turn-to-the-product-category/
Auxly Maintains Top Position in 2.0, Dominates Vape Sales and Grows National Market Share Through 1.0 Expansion in 2021
https://www.globenewswire.com/news-release/2022/01/13/2366324/0/en/Auxly-Maintains-Top-Position-in-2-0-Dominates-Vape-Sales-and-Grows-National-Market-Share-Through-1-0-Expansion-in-2021.html
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vinovista
4 months ago
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