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Namaste Technologies Inc. (NXTTF)
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Pineapple Express Delivery - Highlights
The following PED revenues comprise of delivery services of medical and recreational cannabis within Ontario and Manitoba to various Business-to-Consumer and Business-to-Business licensed producer companies and liquor deliveries in Saskatchewan:
• December 2020 revenues totaled $889,935 (November - $837,875) with gross margin of 34% (November - 30%) (unaudited).
• November 2020 revenues totaled $837,875 (October - $795,580) with gross margin of 30% (October - 30%) (unaudited).
• As a result of recent COVID-19 prevention measures, B2C revenue increased approximately 7% in November over October 2020 and an additional 4% in December over November 2020, mainly from an increase in the recreational delivery segment.
• During 2020:
◦ monthly revenue grew from $131,179 in January 2020 to $889,935 in December 2020, representing an increase of 578%; and
◦ number of deliveries grew from 11,077 in January 2020 compared to 70,802 in December 2020, representing an increase of 539%.
The Company cautions that figures for revenue, gross profit and net income generated from the services offered by Pineapple Express Delivery have not been audited beyond April 30, 2020 and are based on calculations prepared by the management of Pineapple Express Delivery. Actual results may differ from those reported in this release once figures have been audited.
Pineapple Express Delivery - Operational Achievements
Since the Company's acquisition of a controlling interest in PED, PED has achieved the following operational milestones:
• In addition to continuing to offer premium delivery services for recreational and medical cannabis products, PED expanded its delivery services to provide same-day and next-day delivery of wine, spirits and beer products from Saskatoon Co-op's Wine-Spirits-Beer retail stores in Saskatoon, Warman and Martensville.
• The number of cannabis and alcohol deliveries continues to increase month over month with 67,279 deliveries rendered in November, and 70,802 in December, compared to 62,327 deliveries in October.
• The number of drivers increased from 55 at the beginning of 2020, to approximately 200 by December 2020. Efficiencies have also been created by routing deliveries through hub expansions and concentrating drivers to tighter geographical areas, leading to less hours used by drivers for the timely delivery of packages.
• Within the province of Ontario, PED offers same day cannabis delivery service in 37 cities (183 postal code regions) and 3-day service in 65 cities (288 postal code regions).
• Expanded its services into the Ontario cities of Ottawa, Barrie, London and also into the Windsor/Chatham region.
• Launched and commenced operations of PED cannabis depots (hubs) in Ottawa, Kingston, London and in the Windsor/Chatham region.
• Partnered with Medical Cannabis by Shoppers™ to offer same-day delivery to their medical cannabis patients in cities in and around the Greater Toronto Area (GTA). Medical Cannabis by Shoppers™ is Shoppers Drug Mart's online platform for the sale of medical cannabis.
• Partnered with Spectrum Therapeutics, the medical division of Canopy Growth Corporation to bring same-day delivery to medical cannabis patients in the GTA, from Hamilton to Scarborough. This builds on PED's existing services contract with Canopy Growth which offers same-day delivery services for Tweed and Tokyo Smoke retail stores in Manitoba and Saskatchewan.
• Subsequent to the period ending October, 31, 2020, PED entered into a licensing agreement to provide software and support services to an arm length party. PED shall provide set-up, implementation and development of the software and shall provide support to all locations catered to by the other party.
• Several contracts in place with Health Canada License Holders for delivery within select provinces in Canada.
• Late-stage applicant to Health Canada to obtain a ‘Sale for Medical Purposes' license for its facility located in the GTA. With a population of 6-million people, this sales license gives PED the ability to store inventory for other license holders, allowing PED to leverage its facility in the GTA and offer same day delivery services to the patients of those LPs.
Karma? Some may remember Andrew Left of Citron years ago, he was shorting N big time....he just lost 100% of his Gamestop short position
If you're dumping shares right now, you're way too late. Can't believe the amount of selling at this level. You're going to regret it in the near future. Next time it spikes 100%, then sell, don't sell after it has corrected... I've been buying back any shares I sold last week. While I'm down a bit while this consolidates, there is no way N's SP is staying in the 20s.
Does anybody know the gamestop investors ? Care to bring them over lol
Weed stocks are on fire today. Where are all of our institutional investors?
I'm about done with this site. 3/4 of posts are auto-deleted.
For those complaining Its not Edward's fault. He is an employee of the company and does what he is told to do. They needed financing and Edward helped them get it. What really stinks about this was it was a sprint to get that financing. Now its back to a marathon mode. We were duped but not really. This company has never done anything quickly. Ignite and Chokolat failed. Pineapple failed. So its not really a surprise that the market is skeptical about future earnings in the U.S or a Labs license that Health Canada seemingly lost the paperwork on. Financials are the game now. We MUST MUST MUST show that we are increasing revs and taking market share in Canada. I cannot stress that enough. Everything else is too speculative and will not satisfy the market or move the needle now. We shot our shot and we got financing. We sold out and diluted, something there was supposedly no immediate plans to do. Obviously we now know that was their number one priority clearly. And now we are back to marathon mode. It is what it is. Very predictable unfortunately. It did seem like it was different this time but in the end it will always come back to the financials with this company. You may not agree on how we got there or the way the company has gotten here. But you are basically here with the hopes that Meni can build this company into something much larger and unfortunately his vision, if realized, is going to take time. Sucks for the longs to go back to being basement dwellers and having to miss out on more opportunity cost in the market but it is what it is. I'm staying long but am disappointed as usual. I do think Meni has great ideas and hope he has the chops to reward us for all the pain.
Not sure if it is the case for anyone else, but itrade had been down all morning. Haven't checked TD.
For those who didn't bother watching NobleCon17 some talking points and notes:
- Namaste in US hopefully by end of Feb.
- Platform is designed to explore adjacent markets, psychedelics was main talking point.
- Platform is designed to easily expand globally further beyond US. If regulations change globally team has a checklist in place to see if it wants to execute in the emerging market i.e. similarity to regulations that we already have a strong understanding in etc.
- With regards to marketing, Namaste is uniquely positioned to gain market share by advertisements on Facebook, Instagram, etc. via accessories, and other non-regulated products. Once those users enter the CannMart platform they can then expand and up-sell regulated products. Due to the nature of the regulations in Canada, you cannot market regulated products.
- Another point on marketing, they are again uniquely positioned via NamasteMD, all medical use (regulated) recommendations are directed to Cannmart and they can again up-sell other products once users are on CannMart platform.
- They have been very careful in their selections of vendors on the VendorLink platform and are not just letting anyone in to sell products, the potential vendors are screened and verified for quality etc....
- CannMart labs team is ready for deployment immediately once Health Canada provides license approval, they are currently at the mercy of the governing bodies. All documentation has been submitted, team has done all preparatory work and team is on standby.
- Items being sold on CannMart labs was strategic in the sense that this will increase their margins because the products are from in-house.
I finally listened to Meni on the US expansion. There was nothing really new for current investors. It serves the purpose of promoting the company to US investors.
The one thing that I did get out of it was from the q&a. He was asked about advertising. Because of the regulations in Canada we all know that they are limited to how they can promote themselves. I liked his answer.
He said that with their platform they sell both regulated and unregulated products. When clients use the platform to say buy a pipe. At that point they can dirrect them towards other products.
We have all seen how many promotional emails we get from cannmart. It gives e-commerce a real upper hand over brick and mortar . Once you have used their services or even gone to look at their website it seem like they are now allowed to send you promotions.
Anyone know the best way to share charts here?
Imagebb doesn't seem to work for some reason.
Or maybe there's a posting limitation on new accounts?
After 2 plus years of holding this bag, I'm sad to say goodbye. Dumped 85,000 shares today at a significant loss. Moving on. Goodbye and good luck to yall. Ill still look at the stock and wish all you longs get back to a dollar real soon.
Godiva chocolate just announced closing all 128 retail stores North America and going strictly E-commerce.
8.096M shares traded on the ATS today.
Just one thing to think about for a moment. Edward is typically quite active on news releases. If he's quieter right now... that means he's working on something more important....
Barrie Resident One Step Closer to Collecting Lottery Prize
14 January 2021·2 min read
Prize Claim Subject to Insider Win Process
TORONTO, Jan. 14, 2021 /CNW/ - Claire Balog of Barrie is one step closer to claiming a lottery win of $10,000 with INSTANT HOLIDAY STACKS (Game #1927).
Meni needs to sell this company. He cannot run it. Doesn’t know anything about how to run a public company
Where is s and SSL
Not pumping today?
Im looking forward to the bid/asks for today’s sessions so we can do pretend analysis
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