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ENW ...EnWave Corporation Added to the NYSE Listed “The Cannabis ETF”
VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) reports today that it has been added to The Cannabis ETF (NYSE:THCX) (“THCX”) which trades on the New York Stock Exchange. THCX follows the Innovation Labs Cannabis Index, which is a portfolio of 35 holdings expected to benefit from growth of the legal marijuana, CBD and hemp industries.
Mr. Brent Charleton, President and CEO of EnWave Corporation, remarks. “We’re excited about the access this fund provides for U.S. based investors. We’re proud of the progress we’ve made with our proprietary REV™ technology in the legal cannabis sector and we will continue to work towards securing partners in this rapidly growing sector.”
EnWave currently has three royalty-bearing commercial license agreements with Canadian cannabis companies and one royalty-bearing commercial license agreement with a hemp producer in the United States.
On June 3, 2019, EnWave was added to the Horizon Marijuana Life Sciences Index ETF (TSX:HMMJ) (“HMMJ”). HMMJ is the world’s first ETF offering direct exposure to North American-listed securities that are involved with marijuana bioengineering and production. HMMJ has added additional companies to its portfolio as more firms have become eligible for inclusion in its underlying index – the North American Marijuana Index.
ENW ... Tilray Q Results ... TLRY shareholders are clearly not very happy but from ENW’s point of view these results and Kennedy’s approach are beneficial as ENW’s royalty is based on sales and not on TLRY’s bottom line.
FP/wire say Tilray mum on interest in Canntrust assets
The Financial Post reports in its Wednesday, Aug. 14, edition that Tilray posted a wider-than-expected second quarter loss on Tuesday. A Bloomberg dispatch to the Post reports that although revenue of $45.9-million was ahead of the consensus estimate of $40.3-million, investors appeared to focus on the $17.9-million loss before interest, taxes, depreciation and amortization (all figures U.S.). That was wider than the $14.4-million expected by analysts and comes as pot investors are increasingly focused on profitability. Tilray said the higher loss was due to rising operating costs related to growth initiatives, interest expense from its convertible notes, recent acquisitions and the expansion of its international operations. Chief executive officer Brendan Kennedy said he is sanguine about the company's ongoing losses. He said if you want to "dominate" the "global industry, you'd be constraining yourself if you were focused on profitability at this point." He said, "Globally, now's the time to invest." The Canntrust Holdings regulatory breach is "an infuriating situation," Mr. Kennedy said. He would not comment on whether Tilray is interested in acquiring any of Canntrust's assets.
Ipa lost $3.7 m after 3Q but $1.2 m are one time costs and $290k is s profit share with U protein shareholders as part of the purchase agreement. This profit sharing arrangement will end in 2020. One time costs were for integrating Europe into what are now global operations; tied together with a new ERP / CRM system. If IPA can execute the plan, look out.
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IPA reported a big $7.6 million loss; an adjusted EBITDA loss of $4.4 million (EBITDA & Accretion expense of $904k.)
Note that $1.312 million of this adj EBITDA loss of $4.4 million were ONE TIME costs incurred to bring on global services (European operations) and the critical CRM/ ERP system which will soon be going online.
Q4 revenues disappointed so rumours of significant new customers (who demand confidentiality) didn't have much of an impact - yet - it would appear. Also impacting was that they did a lot of write offs in cost of sales in Q4 with gross margins of 22% for the quarter bringing down the total year margins to 48%.
So its disappointing but well worth remembering that B cell select (tm) is available at IPA globally now and ONE job can run the customer several hundred thousand USD. As well, and not that this would apply to every job I 'm sure but an antibody discovery that the customer wants to work with to take to a stage 1 clinical trial would entail additional work by IPA. If each step is successful, the all in sales gets you looking at closer to US$2m range plus or minus. That;s one b cell project and we can run around 100 or more annually I believe?? And all this B cell work is high margin stuff. So
Let's not forget the role, also, of the full service B Cell offering that is IPA is and Dr. Bath's comment that they had been hired by one firm for example to replace all of that firm's 26 existing CROs (contractors - like IPA is a contractor). You can bet that some of that will start kicking in in the new fiscal. So in the rush to dump IPA based on Q4, some opportune investors are going to get in quite cheaply and be able to ride the wave from there.
And if being a contractor is not exciting then there is TALEM the new sub which gives IPA their platform for owning antibody discoveries; collaboration w/ pharmaceutical partners; sales and royalties from potential new drugs or other applications. They have been doing research globally and that's in the annual costs, too.