Emerald Health Therapeutics Inc. is a Canadian licensed producer of cannabis. The company is focused on developing proprietary, cannabis products for medical and non-medical customers. The company's Pure SunFarms joint venture has 2 greenhouses of 1.1 M square feet.
The Verdelite operation in Quebec is an indoor facility of approximately 88,000 square feet. It is licensed for cultivation and production. It has contracted about 1000 acres of hemp in 2019 to 2022. Effort in greater strategic partnerships has lead to company to secure industrial extraction, softgel encapsulation and formulation technology for innovative product development. A softgel is an oral dosage form for medicine similar to capsules. They consist of a gelatin based shell surrounding a liquid fill.
The market capitalization of Emerald Health Therapeutics Inc. is $63 M. Shares outstanding are 149 M.
Emerald Health Therapeutics Inc. is on CVE as EMH. This year, the stock fell from a high of $4.29 CAD in April 2019 to $0.38 CAD at December 3, 2019. The company is also TSXV: EMH and OTCQX: EMHTF.
Emerald Health Therapeutics Inc. has reported 3rd quarter 2019 financial results. Sales have doubled for 3rd quarter in a row. Full versions of the company's financial statements can be found on SEDAR at http://www.sedar.com.
Net sales doubled to $9.3M from the prior quarter.
The Net Loss of $17.5M is impacted by $2.8M inventory write down and decrease of $9.1M in fair value adjustments of biological assets.
It is the second consecutive quarter of positive adjusted EBITDA at $2.4M in 3rd quarter in 2019.
$5.5M positive working capital shows improvement from $4.2M working capital in the previous quarter.
Emerald Health Therapeutics Inc. is expanding shipments in 10 provinces and territories. Revenue growth was created from $2.1M in all of 2018 to $17.4M in the first 9 months of 2019. More licensing and planting has been recently completed in indoor facilities. The company anticipates an increase in cannabis production.
The company's primary asset, the 50%-owned Pure Sunfarms joint venture, has quickly become a high-performing asset.