|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.3000 - 0.3450|
|52 Week Range||0.2600 - 1.8700|
|Beta (3Y Monthly)||3.19|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
TORONTO , Oct. 16, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) announced today that Darren Gill , the Company's Chief Strategy Officer, has resigned from the Company to pursue other opportunities. Mr. Gill joined Namaste in October 2018 . Namaste thanks Mr. Gill for his service to the Company and wishes him well in his future endeavours.
TORONTO , Oct. 15, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF), a leading online platform for cannabis products, accessories, and responsible education, today announced that CannMart Inc., a wholly owned subsidiary of Namaste, has received approval from Health Canada for an amendment to its license allowing it to offer cannabis oil concentrates on its online marketplace, CannMart.com.
TORONTO , Sept. 26, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that CannMart has signed sales and marketing agreements with CannTx Life Sciences Inc. ("CannTx") to launch and sell their flagship medical brand, BOWER, under CannMart's consignment sales model. As an additional value-added service, CannMart will process and package BOWER products through its Health Canada-licenced processing facility. This allows CannMart to provide direct to consumer medical sales through CannMart.com and leverage its licence and approved facility to partner with licenced producers ("LPs") in a more meaningful way.
TORONTO , Sept. 16, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that CannMart has received a purchase order for pre-rolled cannabis products from the BC Liquor Distribution Branch (LDB) to cater to the Province of British Columbia . "This is a major milestone for Namaste as it is the first order that we have received from a government agency," said Meni Morim , CEO of Namaste Technologies Inc. "Our unique positioning with Cannmart which enables us to offer a selection of products from multiple licensed producers, some of which may only have a cultivation license, allows provincial distributors the opportunity to purchase a diversified inventory all in one place.
TORONTO, Sept. 12, 2019 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that it has signed a distribution and marketing agreement with Cultivated Beauty, a subsidiary of leading skin care retailer Swisspharme Inc and Elizabeth Grant International, to offer a line of its specially formulated hemp-based skin care products through CannMart's online marketplace.
A series of earnings reports from big companies including Slang Worldwide Inc (OTC: SLGWF) and TILT Holdings Inc (OTC: SVVTF) provided evidence that “the slow rollout of Massachusetts' recreational licenses has finally hit the earnings of cannabis companies who were slow to recognize the effects,” Green Market Report CEO Debra Borchardt told Benzinga. In other news, we found out that a weed-themed show is hitting the runway at the New York Fashion Week, the product of a collaboration between bold fashion designer Korto Momolu —featured on the show "Project Runway" —and Women Grow, the largest networking organization for women in the cannabis and hemp industries. "To sum it up in one phrase: it's 'for women, by women,'" Momolu told Benzinga.
TORONTO, Aug. 26, 2019 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that its board of directors has named Meni Morim as chief executive officer and appointed him to the Company's board of directors. Meni has served as the Company's interim CEO since February 4, 2019 and the Company's Chief Product Officer since May of 2018.
TORONTO , Aug. 15, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that it has signed a distribution and marketing agreement with Seedo Corp (SEDO) subsidiary Eroll Grow Tech Ltd ("Eroll Grow Tech") to market their Seedo home grow ("Seedo") product through the Company's online marketplace. The Seedo products are fully automated home grow devices, providing Namaste's global customer base with the opportunity to enjoy the benefits of growing plants in their own home.
TORONTO, Aug. 13, 2019 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that Kenneth Ngo, the Company's Chief Financial Officer, has stepped down from the Board of Directors effective immediately. "I wish to thank Kenneth for stepping onto the Board of Directors in December 2018 as we reshaped the Company. With the addition of Ken Jones and Andy Wilczynski, who can provide financial expertise to the board, Kenneth has decided to step down as a board member" said Meni Morim, Interim CEO of Namaste Technologies.
TORONTO, July 26, 2019 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today provided an update on in its investment portfolio including Choklat Inc. ("Choklat") and Pineapple Express Delivery Inc. ("Pineapple Express"). Choklat, in which Namaste acquired a 49% interest in March of 2019, has now completed and submitted its evidence package to Health Canada.
TORONTO , July 25, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced that it has reached settlements, in principle, of the securities class actions that were commenced against it in Canada and the US in 2018. Namaste's contribution to the settlement amounts, which are principally being funded by Namaste's insurance, will be less than $500,000 US.
At one point, Namaste Technologies (NXTTF) offered the promises of an online cannabis platform to serve the massive industry. Due to internal management issues and a market that hasn’t shifted online or away from illegal sources, the stock doesn’t offer investors any reason to play here. Weak FQ2 For FQ2 ended May 31, Namaste Tech actually managed to report a revenue decline from last year. The company only generated C$4.0 million in revenues, down from C$4.1 million last FQ2. Revenues peaked back in the February 2018 quarter at C$5.6 million despite a cannabis market that has grown substantially in the last year The company has reportedly updated the online platform and added equity positions in a delivery service along with a company focused on edibles. Neither move is enough of a catalyst to become interested in a money losing operation with an interim CEO. The main revenue drivers are Namaste Vapes and Australian Vaporizers that are in decline due to business shifts. The highly promoted CannMart and Namaste MD platforms combined to only generate quarterly revenues of C$0.23 million. For the quarter, gross margins remained flat at only 21% and the losses continued to mount. Namaste Tech reported a substantial C$8.6 million loss, or more than double the revenue total. Adjusted EBITDA was equally weak at a C$6.1 million loss and nearly doubled the loss from last year as the company spent far more cash on SG&A. Namaste Tech spent C$9.8 million on those expenses in the quarter and over C$8.7 million when excluding share-based compensation that doesn’t have a cash cost. The path to profitability seems highly questionable with far-flung operations around the globe in countries like Australia, U.K., Canada, Germany and others besides the U.S. Lack Of Leadership For a company in the position of Namaste Tech, a strong management team is needed to complete a turnaround. The company currently has an interim CEO after a nasty split earlier this year with the CEO. A new CEO might need to restructure their global operations in order for the small company to focus on the domestic online CannMart platform. The stock would likely struggle in such a scenario until the business returns to growth. The one positive is that Namaste Tech has a cash balance of C$55.9 million and a market cap of only $133 million with 322 million shares outstanding. The company burned $C22 million in the last six months of operating so the impressive cash balance will disappear quickly without a substantial cut in operating losses. Takeaway The key investor takeaway is that Namaste Tech still has more questions about the future of the company than solutions. The business promoted the most by the company is almost nonexistent and the wide global operations aren’t justified by the very weak revenue totals and high expenses. Investors should look elsewhere to find cannabis stocks with strong revenue growth and reasonable paths to profitability. Once the company hires a full-time CEO that completes a restructuring, the stock might be worth another look. Until then, investors should watch from the sidelines. See NXTTF's price targets and analyst ratings on TipRanks Disclosure: No position.
/R E P E A T -- Pure Global Announces New Distribution Agreement Expanding Access to CannMart's Extensive Client Base/
TORONTO , July 19, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N.V) (M5BQ.F) (NXTTF) today announced the signing of three new agreements with Canadian licensed producers ("LP"), further expanding the breadth of products offered within its online cannabis marketplace. Included in the list of new LPs is Agro-Greens Natural Products Ltd. ("Agro-Greens"), of Macklin, SK and PureSinse Inc. ("PureSinse") of Brampton, ON . The Agro-Greens and Puresinse agreements help solidify Namaste's, and its online platform CannMart's, new fee-based model based on consignment versus traditional buy and sell.