Shares of a Canadian cannabis producer dropped mightily on Wednesday (March 11) following the release of its latest quarterly and annual results.

The Green Organic Dutchman Holdings (TGOD) (TSX:TGOD,OTCQX:TGODF) posted heavy losses for both Q4 and the full 2019 year, leading to a drop off in the market for the producer.

Near the end of the trading session on Wednesday, the company was trading at C$0.34, representing a decline in value of 21.59 percent.


Cannabis - Will The Fortune 500 Join The Party?

Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!

In a release, Brian Athaide, CEO of TGOD, recognized the challenges for the Canadian marijuana investment market, but indicated to shareholders that he anticipates to see “continued sales momentum” in 2020 thanks to the eventual launch of TGOD’s first cannabis 2.0 products.

Cannabis 2.0 refers to Canada’s second phase of legalization, which covers ingestible items.

Despite that future optimism, the company reported a net loss of C$144.75 million in the most recent quarter, a new low, and a net loss of C$195.75 million for the whole year.

When it comes to its revenue, TGOD reported C$3.25 million for Q4 and C$11.16 million for the year.

Athaide told investors and analysts during a conference call that last year the company was “largely a construction company,” but it is now on the path to see substantial revenues.

Discussing recent cuts, the company told shareholders it now counts about 200 employees in total, with 120 of those working in its facilities.

Due to current market conditions, TGOD is revising both its near- and long-term forecasts. Alongside this revision the company is letting go of its ambitious plans for expansion in Jamaica.

TGOD attempted to reassure investors regarding some of its non-cash impairment charges:

As market conditions improve, and should the Company decide to bring additional cultivation zones online which would increase the expected recoverable amount of future cashflows, the non-cash impairment charges may be reconsidered and be reversed as permitted by its accounting framework.

The company said it expects to become cash flow positive before the end of 2020.

Like many others in the cannabis stock universe, TGOD shares have faced a sharp decline recently. Over a one year period, the company has dropped in value by over 90 percent.

stock chart for TGOD

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.


Cannabis - Will The Fortune 500 Join The Party?

Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
  • The Cannabis Derivatives are derived from Avicanna’s cultivation and extraction infrastructure in Santa Marta, Colombia designed to supply partner companies and the manufacture of Avicanna’s own finished products.

Avicanna Inc. (” Avicanna ” or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that, through its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“ SMGH ”), it has completed a commercial exports of CBD Isolate and CBD full spectrum psychoactive cannabis resin (the “ Cannabis Derivatives ”) to a leading Chilean homeopathic and naturopathic pharmaceutical company.

The Cannabis Derivatives, branded as Aureus™, are cultivated, extracted, and manufactured by SMGH. In addition, for Avicanna’s global input needs, SMGH also supplies other pharmaceutical and cosmetics companies with cannabinoids including CBD, THC, and rare cannabinoids such as CBG in addition to supplying global cultivation companies with standardized and feminized seeds. This new export to Chile is a recurring order and part of on-going relationship with an established homeopathic Chilean company.

Keep reading... Show less

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX:WEED, NASDAQ:CGC) will release its financial results for the second quarter fiscal year 2022 ended September 30, 2021 before financial markets open on November 5, 2021 .

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, announced today the opening of a new Sunnyside dispensary in Wyomissing, Pennsylvania. Wyomissing will be Cresco Labs’ fifth dispensary in Pennsylvania and 38 th nationwide.

This press release features multimedia. View the full release here:

Keep reading... Show less

The world of cannabis consumption is set to change radically, thanks in large part to the advancement of state-of-the-art research on the plant itself.

Medical cannabis products have already allowed many new users to discover the plant’s potential, but decisive research will help build a foundation for more sophisticated medical offerings.

Keep reading... Show less


Adastra Holdings Ltd. (formerly Phyto Extractions Inc.) (CSE: XTRX) (FRA: D2EP) (“Adastra”, or the “Company”) is pleased to announce that it has retained Hybrid Financial Ltd. (“Hybrid”) to provide marketing services to the Company. Hybrid has been engaged to heighten market and brand awareness for Adastra and to broaden the Company’s reach within the investment community.

Keep reading... Show less