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Heritage Cannabis Holdings Corp. (C:CANN)

Business Focus: Alternative Medicine

Sector:  Healthcare Industry:  Pharmaceuticals
 
Company Contact
Address: 20 Holly St Unit 300
TORONTO ON M4S 3B1
Tel: N/A
Website: https://heritagecann.com
IR: See website
Key People
David Schwede
President, Chief Executive Officer, Director
Jasmine Paige
Interim Chief Financial Officer
Eoin Hegarty
Chief Operating Officer
Cory Larsen
Chief Commercial Officer
   
Business Overview
Heritage Cannabis Holdings Corp. is a Canada-based cannabis company offering products to both the medical and recreational legal cannabis markets in Canada and the United States. It focuses on extraction and the creation of extract and extract-derivative products and brands for adult use and cannabis-based medical solutions. It has a portfolio of cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, Thrifty, Adults Only, feelgood., the CB4 suite of medical products in Canada and ArthroCBD in the United States. In Canada, it operates through its subsidiaries, Heritage Cannabis West Corporation (Heritage West) and Heritage Cannabis East Corporation (Heritage East). Heritage West holds a Health Canada issued cultivation, processing, and medical and adult use sales license, as well as an industrial hemp license, a cannabis oil sales license, and a cannabis research license. In the United States, it operates through, Opticann Inc., an oral and topical cannabinoid company.
Financial Overview
For the fiscal year ended 31 October 2023, Heritage Cannabis Holdings Corp revenues increased 1% to C$29.8M. Net loss decreased 20% to C$20.1M. Revenues reflect Gross Revenue increase of less than 1% to C$42.1M. Lower net loss reflects Impairment - Intangibles excluding Goodw decrease of 30% to C$11.4M (expense), Impairment of Good will decrease from C$4.9M (expense) to C$0K, Occupancy, office expense and other decrease of 39% to C$3.5M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $9.78M as of Oct 31, 2023
Annual revenue (TTM): $29.79M as of Oct 31, 2023
EBITDA (TTM): -$5.45M as of Oct 31, 2023
Net annual income (TTM): -$20.10M as of Oct 31, 2023
Free cash flow (TTM): -$0.16M as of Oct 31, 2023
Net Debt Last Fiscal Year: $4.48M as of Oct 31, 2023
Shares outstanding: 1,058,739,220 as of Feb 1, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization