The Monday Morning Watchlist: Possible Breakouts in Play ( $MEDIF, $CANN, $CWBHF)
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Mdipharm Labs Corp (OTCMKTS:MEDIF) bills itself as a company that primarily focuses on producing pharma-grade cannabis oil and concentrates in Canada. It also focuses on providing cannabis contract processing services to licensed producers and growers; supplying cannabis oil to companies for sale under its brand; and supplying raw materials and processing for the creation of ready-to-sell cannabis products. The company was founded in 2015 and is headquartered in Barrie, Canada.

Founded in 2015, MediPharm Labs has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation license.

This expert focus on cannabis concentrates from our cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm Labs to produce purified, pharmaceutical-grade cannabis oil and concentrates for advanced derivative products. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream extraction methodologies and purpose-built facilities to deliver pure, safe and precisely-dosed cannabis products to patients and consumers. MediPharm Labs’ private label program is a high margin business for the company, whereby it opportunistically procures dry cannabis flower and trim from its numerous product supply partners, to produce proprietary cannabis oil concentrate products for resale globally on a private label basis.

Through its subsidiary, MediPharm Labs Australia Pty. Ltd., MediPharm Labs has also completed its application process with the federal Office of Drug Control to extract and import medical cannabis products in Australia.

The company recently announced that its common shares would begin trading on the Toronto Stock Exchange on Monday, July 29, 2019 under the symbol “LABS”.  At that time, MediPharm Labs’ common shares would be voluntarily delisted from the TSX Venture Exchange.

The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 32% in that timeframe.

Medipharm Labs Corp (OTCMKTS:MEDIF) pulled in sales of $22M in its last reported quarterly financials, representing top line growth of 115.2%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($8.6M against $35.7M, respectively).

 

 

General Cannabis Corp (OTCMKTS:CANN) just announced that it has entered into a non-binding term sheet to acquire substantially all of the assets of a licensed recreational cannabis cultivator and retailer in Denver, Colorado.

According to the release, “The seller of the Business operates two indoor cultivation facilities and a retail cannabis dispensary in central Denver to manage the Business.  The Business has been rated one of the best dispensaries in Denver by High Times magazine, and is the holder of a library of world-class cannabis genetics.”

General Cannabis Corp (OTCMKTS:CANN) trumpets itself as a company that provides products and services to the regulated cannabis industry in the United States.

The company operates through four segments: Security and Cash Transportation Services (Security), Marketing Consulting and Apparel (Marketing), Operations Consulting and Products (Operations), and Finance and Real Estate (Finance).

CANN has a significant war chest ($5.6M) of cash on the books, which must be weighed relative to about $7.7M in total current liabilities. One should also note that debt has been growing over recent quarters. CANN is pulling in trailing 12-month revenues of $5.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 47.4%.

Shares of CANN have been on a rocket ride to the North in the past 4 days of action, up over 100% in that time, with a major breakout of the down trend line and the 50-day MA.

 

 

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) develops and distributes hemp-based cannabidiol (CBD) wellness products. Its products include CBD hemp oils, capsules, topicals, and pet products that feature CBD hemp oil extracts. Charlotte’s Web Holdings, Inc. sells its products online as well as through distributors, and brick and mortar retailers.

CWBHF recently announced expansion plans underway in 2019  including cultivation, production, distribution and R&D to support its forecasted sales growth. Most recent expansion initiatives include a building lease signed on a newly constructed 136,610-square-foot industrial building located at 700 Tech Court in the Colorado Technology Center (CTC) in Louisville, Colorado. The new location enables the Company to prepare for production, distribution and R&D expansion to meet increasing demand from the consumer and national retailer channels.

Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week.

Founded by the Stanley Brothers, the Company’s premium quality products start with proprietary hemp genetics that are responsibly manufactured into whole plant hemp extracts naturally containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds. Industrial hemp products are non-intoxicating.

Charlotte’s Web current product categories include tinctures (liquid products), capsules, topical, as well as pet products. Charlotte’s Web hemp-based whole plant extracts are sold through select distributors, brick and mortar retailers, and online through the Company’s website.

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) managed to rope in revenues totaling $28.8M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 74.2%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($92.3M against $20.7M).

 

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