CBWTF stock is on the rise in premarket trading. Currently, shares are selling for $0.62 USD and up 0.81% on the OTC. The company has just released its much-anticipated Q1 2019 financial results, and this will, no doubt, cause a stir.
Can we expect CBWTF stock to keep rising, or is there a significant dip on the way?
Let’s check in with Auxly Cannabis Group (TSXV:XLY) (OTCQX:CBWTF).
CBWTF Stock: Q1 2019 Financial Results
The results were for the three months ended March 31st, 2019.
Key highlights included:
- Advanced product development at Auxly’s Dosecann facility
- Further progress toward the construction of key infrastructure
- The company’s first sales of dried cannabis flower
According to company CEO Chuck Rifici, Auxly Cannabis Group is now on track to “have our initial range of derivative cannabis products completed and available for sale into the upcoming legal market later this year.”
This is something that CBWTF stock investors must be delighted to hear.
The company’s recently completed acquisition of KGK brought in research revenue of $0.5 million.
KGK is a research company that develops safe, effective, and high-quality consumer cannabis products and conducts research for third-party clients. This is just one of Auxly’s over a dozen ventures.
From physical dried cannabis sales, the company showed revenues of $0.3 million. This figure could have been higher if it were not for the company’s decision to curtail the sale of dried cannabis in favor of using the flower to create cannabis derivatives instead.
Auxly Cannabis Group’s full report can be found here.
About Auxly and CBWTF Stock
Auxly Cannabis started life as royalty streaming company; it invested in a plethora of different cannabis growers, allowing it to expand operations. For this, it received a fixed percentage of cannabis flower at a below-market rate. It then sold this at market rates and pocketed the difference as profit.
But Auxly has since evolved and now has its fingers in every sector of the cannabis supply chain. It is now in line to “get its hands on 170,000 kilos of production annually, be it grown by the company or provided by its more than one dozen licensed partners, by 2021.”
Will CBWTF stock investors be pleased with this report? The company is showing revenue growth, but it remains fleeting in comparison to the amount of investing it has already put in.
Operations are still mounting, so there is every possibility that Auxly will reap the benefits down the line. For now, though, investors may wait at least another year before CBWTF stock truly pays off.
What do you think?
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