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Green Growth Brands Fourth Quarter Revenue Increases 29% Quarter-Over-Quarter to $7.2 Million – GrassNews
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Green Growth Brands Fourth Quarter Revenue Increases 29% Quarter-Over-Quarter to $7.2 Million

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Green Growth Brands Inc. (GGB or the Company) (CSE: GGB) (OTCQB: GGBXF) today reported its results for the fourth quarter and full year ended June 30, 2019. The Company reported total revenue for fiscal 2019 of $15.7 million. For the three month period ended June 30, 2019, the Company reported a 29% quarter-over-quarter increase in revenue to $7.2 million.

“In a short-time we have built a pathway to open up to 47 dispensaries in three key states and established the first, best and only vertical CBD distribution network in the country,” said Peter Horvath, CEO of Green Growth Brands. “This foundation leverages our strengths of creating brands consumers love, building innovative product assortments and operating and growing retail at scale, quarter after quarter.

“As we look ahead to fiscal 2020, our focus will shift from foundation building to operating and executing, which we expect to result in a steep sequential growth in both our CBD and MSO businesses.”

To read more of Horvath’s thoughts on the growth and trajectory of the business, please read the Letter to Shareholders.

GGB will host a conference call and audio webcast with Chief Executive Officer, Peter Horvath, and Chief Financial Officer, Brian Logan, at 8:30 AM EDT on Thursday, October 24, 2019.

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Fourth Quarter & Full Year Fiscal 2019 Highlights

  • Total revenue for fiscal 2019 was $15.7 million, which reflects seven and a half months of MSO revenue since the reverse takeover in November 2018 and the launch of the CBD business in February 2019.

  • Total revenue for the quarter, including both MSO and CBD operations, was $7.2 million, a sequential increase of 29% over the prior quarter.

  • MSO revenue for the quarter, which primarily consists of one dispensary in Las Vegas, The+Source, was $5.5 million, a sequential increase of 7% over the prior quarter.

  • The+Source continues to generate annualized revenue of nearly $15,000 per selling square foot, one of the highest reported figures in the industry and in retail overall.1

  • CBD revenue for the quarter was $1.7 million, a sequential increase of 271% over the prior quarter. Q1 fiscal 2020 CBD revenue is expected to grow by approximately 200%.

  • As of the June 30, 2019, the Company operated 58 CBD shops, including 52 that opened during the quarter.

  • The Executive team was expanded during the quarter with the addition of Jann Parish as Chief Marketing Officer. Parish brings significant branding, marketing and consumer expertise to the Company.

  • During the full year, the Company entered into CBD wholesale partnerships with Abercrombie & Fitch for 161 stores, DSW for a total of 155 stores and white labeling American Eagle’s MOOD for 500 of their stores.

______________
1 eMarketer Retail, “Ecommerce trends and store sales for top retailers”

Subsequent Events

  • In August, the Company completed a C$50 million bought deal and the founders posted a backstop commitment of up to C$102 million.

  • In August, the Company announced the completion of the acquisition of Florida-based Spring Oaks, granting The Company the ability to open and operate up to 35 licenses in Florida.

  • In August, the Company completed the acquisition of Henderson Organic Remedies, LLC (The+Source Henderson), the sister location of The+Source Las Vegas.

  • The Company is currently operating over 160 CBD shops and expects to reach over 200 by the holiday shopping season this year.

Fourth Quarter & Full Year Fiscal 2019 Financial Statements

The following tables contain financial information for the periods indicated. For full financial information, notes, and management commentary please refer to the MD&A and Financial Statements posted on Green Growth Brands’ Investor Relations site and SEDAR. All financial information is provided in United States dollars, unless otherwise indicated. “Adjusted EBITDA” is equal to net income (loss) before interest, taxes and depreciation and amortization, plus fair value adjustments on sale of inventory and on growth of biological assets, share-based compensation and payments, loss (gain) on equity investments, loss (gain) on foreign exchange, loss (gain) on short-term investments, transaction costs, listing fees and certain one-time non-operating expenses, as determined by management. Management believes this measure provides useful information as it is a commonly used measure in the capital markets and as it is a close proxy for repeatable cash generated by (used for) operations.

Consolidated Statements of Financial Position

As at June 30, 2019 and June 30, 2018

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(Expressed in United States dollars)

June 30, 2019

June 30, 2018

Assets

Current Assets

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Cash

$

10,256,008

$

4,688,311

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Short term investments

Receivables

580,529

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Prepaid expenses

5,142,618

Inventories

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10,244,804

Biological assets

1,352,097

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Notes receivable

47,739

Other receivables

3,006,760

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18,269

Deferred lease charges

727,518

31,358,073

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4,706,580

Property and equipment, net

18,761,723

Deposits and other assets

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2,880,186

Deferred lease charges

2,606,940

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Notes receivable

17,999,224

Intangible assets

39,925,984

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Goodwill

36,253,417

 Total assets

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$

149,785,547

$

4,706,580

Liabilities

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Current Liabilities

Accounts payable and accrued liabilities

16,328,784

316,768

Taxes payable

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282,593

Due to related parties

317,535

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Notes payable

45,762,540

Embedded derivative liability

1,496,214

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Convertible Debenture

41,623,041

105,810,707

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316,768

Deferred tax liability

1,437,324

Shareholders’ Equity

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Share capital

119,881,374

7,016,421

Reserve for warrants

9,054,624

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Reserve for share based compensation

3,147,110

Accumulated deficit

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(92,453,943)

(2,626,609)

Accumulated other comprehensive income

148,286

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Total equity attributable to shareholders of Green Growth Brands Inc.

39,777,451

4,389,812

Non-controlling interest

2,760,065

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Total equity

42,537,516

4,389,812

Total liabilities and equity

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$

149,785,547

$

4,706,580

Consolidated Statements of Loss and Comprehensive Loss

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For the three months ended June 30 2019 and June 30, 2018

(Expressed in United States dollars)

June 30, 2019

June 30, 2018

Sales

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Revenue

7,174,674

Cost of goods sold

7,908,224

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Gross profit before fair value adjustments

(733,550)

Fair value change in biological assets included in inventory sold and other charges

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(863,649)

Unrealized gain on changes in fair value of biological assets

706,200

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Gross profit

(576,101)

Operating Expenses

General and administrative

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5,536,395

1,146,474

Legal and professional fees

5,198,484

788,716

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Sales and marketing

5,540,252

Stock based compensation

2,136,271

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Depreciation and amortization

609,765

Other income

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1,027,440

20,048,607

1,935,190

Other expenses (income)

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Loss on equity investments

Gain in fair value of derivative liability

(2,739,549)

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Interest expense

1,266,595

1,113

Accretion on convertible debenture

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466,264

Foreign exchange loss

1,070,883

96,967

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Realized gain on short term investments

6,617,587

Transaction costs

3,608,655

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Net loss before listing fees and income taxes

(30,915,143)

(2,033,270)

Listing fees

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68,055

Net loss after listing fees

(30,983,198)

(2,033,270)

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Income taxes

538,704

Net loss after income taxes

(31,521,902)

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(2,033,270)

Less: Non-controlling interest

50,799

Net Loss attributable to owners of the parent

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(31,471,103)

(2,033,270)

Net loss per Common Share attributable to the parent

Basic and Diluted

(0.19)

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(0.04)

Weighted average common shares

165,637,384

48,772,788

Other comprehensive loss

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Exchange gain on translating foreign operations

Comprehensive loss

$

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(31,471,103)

$

(2,033,270)

Adjusted EBITDA

(Expressed in United States dollars)

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June 30, 2019

June 30, 2018

Net loss after listing fees before income taxes

$

(30,983,198)

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$

(2,033,270)

Fair value adjustment on sale of inventory

(863,649)

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Fair value adjustment on biological assets

706,200

Stock based compensation

2,136,271

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Depreciation and amortization

609,765

Shares issued for services

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1,573,079

Pre-opening expenses

812,957

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Non-operating expenses

10,290,435

98,080

Listing fees

68,055

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15,333,113

98,080

Adjusted EBITDA

$

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(15,650,085)

$

(1,935,190)

Consolidated Statements of Loss and Comprehensive Loss

For the year ended June 30 2019 and for the period from February 14, 2018 to June 30, 2018

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(Expressed in United States dollars)

June 30, 2019

June 30, 2018

Sales

Revenue

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$

15,729,803

$

Cost of goods sold

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16,404,133

Gross profit before fair value adjustments

(674,330)

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Fair value change in biological assets included in inventory sold and other charges

662,212

Unrealized gain on changes in fair value of biological assets

(1,012,549)

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Gross profit

(323,993)

Operating Expenses

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General and administrative

20,751,480

1,364,719

Legal and professional fees

15,423,098

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1,163,810

Sales and marketing

8,632,651

Stock based compensation

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3,839,254

Depreciation and amortization

1,191,682

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Other income

(39,581)

49,798,584

2,528,529

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(50,122,577)

(2,528,529)

Other expenses (income)

Loss on equity investments

671,579

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Gain in fair value of derivative liability

(2,739,549)

Interest expense

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3,509,419

1,113

Accretion on convertible debenture

466,264

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Foreign exchange loss

1,419,220

96,967

Realized gain on short term investments

(4,347,339)

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Transaction costs

13,260,093

Net loss before listing fees and income taxes

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(62,362,264)

(2,626,609)

Listing fees

767,245

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Net loss after listing fees

(63,129,509)

(2,626,609)

 Income taxes

1,202,300

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Net loss after income taxes

$

(64,331,809)

$

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(2,626,609)

Less: Non-controlling interest

77,435

Net Loss attributable to owners of the parent

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$

(64,254,374)

$

(2,626,609)

Net loss per Common Share attributable to the parent

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Basic and Diluted

$

(0.40)

$

(0.05)

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Weighted average common shares

161,188,156

54,794,120

Other comprehensive loss

Exchange gain on translating foreign operations

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148,286

Comprehensive loss

$

(64,106,088)

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$

(2,626,609)

Consolidated Statement of Cashflow

For the year ended June 30, 2019, and for the period from February 14, 2018 to June 30, 2018

(Expressed in United States dollars)

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June 30, 2019

June 30, 2018

Cashflow from Operating Activities

Net loss for the period

$

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(64,331,809)

$

(2,626,609)

Adjustments for:

Stock based compensation

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3,839,254

Shares and warrants issued for services

6,701,445

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Depreciation and amortization

1,191,683

Deferred lease charges

303,132

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Deferred tax expense

473,244

Accretion expense

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466,264

Loss on equity investment

671,579

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Realized gain on short term investment

(4,347,339)

Transaction costs

6,617,110

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Fair value of embedded derivative liability

(2,739,549)

Net fair value adjustment on growth of biological assets

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(350,337)

Foreign exchange on translation

1,402,691

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Changes in non-cash working capital balances

Receivables

(243,764)

Prepaid expenses

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(5,142,618)

Other receivables

(761,169)

(18,269)

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Inventories

(8,179,761)

Biological assets

(143,082)

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Accounts payable and accrued liabilities

8,809,632

316,768

Income taxes payable

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282,593

(55,480,801)

(2,328,110)

Cashflow from Investing Activities

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Purchase of property and equipment

(9,802,924)

Purchase of software

(1,037,729)

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Acquisition of businesses, net of cash acquired

(44,437,592)

Purchase of short term investments

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(16,945,040)

Net proceeds from sale of short term investments

21,347,468

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Proceeds from sale of equity investment

73,381

Advance on Henderson Organic Remedies LLC acquisition

(15,485,000)

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Advances on acquisitions

(3,650,000)

Purchase of equity investment

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(300,000)

(70,237,436)

Cashflow from Financing Activities

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Shares issued on warrants and options exercised

43,514,989

Repayment of notes

(6,485,030)

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Proceeds from convertible debentures, net of issuance costs

106,196,985

Proceeds from private placement share capital issued

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25,747,713

7,016,421

Redemption of common shares

(37,170,000)

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131,804,657

7,016,421

Effect of exchange rates on cash

(518,723)

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Increase in cash

5,567,697

4,688,311

Cash, beginning of period

4,688,311

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Cash, end of period

$

10,256,008

$

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4,688,311

Supplemental disclosure of cash flow information

Interest paid

2,061,511

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Income taxes paid

446,462

Other non-cash investing and financing activities

Capital assets not yet paid for

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5,773,117

Redemption of common shares by issuance of promissory note

28,992,600

Segmented statement of operations for the three months ended June 30, 2019 and June 30, 2018

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(Expressed in United States dollars)

MSO

CBD

Head office

Allocations

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Total

2019

2018

2019

2018

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2019

2018

2019

2018

2019

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2018

Sales

Revenue

$

5,461,941

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$

$

1,712,733

$

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$

$

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$

$

$

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7,174,674

$

Cost of goods sold

3,976,025

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2,513,376

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1,418,823

7,908,224

Gross profit before fair value adjustments

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1,485,916

(800,643)

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(1,418,823)

(733,550)

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Fair value change in biological assets included in inventory
sold and other charges

(863,649)

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(863,649)

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Unrealized gain on changes in fair value of biological assets

706,200

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706,200

Gross profit

1,643,365

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(800,643)

(1,418,823)

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(576,101)

Operating Expenses

General and administration

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6,521,008

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1,146,474

(984,613)

5,536,395

1,146,474

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Legal and professional fees

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5,640,914

788,716

(442,430)

5,198,484

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788,716

Sales and marketing

394,488

4,986,676

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148,277

10,811

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5,540,252

Stock based compensation

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2,136,271

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2,136,271

Depreciation and amortization

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155,955

456,401

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(2,591)

609,765

Other income

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(15,932)

1,043,372

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1,027,440

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378,556

5,142,631

15,946,243

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1,935,190

(1,418,823)

20,048,607

1,935,190

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1,264,809

(5,943,274)

(15,946,243)

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(1,935,190)

(20,624,708)

(1,935,190)

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Non-operating expenses

Loss on equity investment in Xanthic Beverages USA, LLC

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Gain in fair value of derivative liability

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(2,739,549)

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(2,739,549)

Interest expense

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1,266,595

1,113

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1,266,595

1,113

Accretion expense

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466,264

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466,264

Foreign exchange loss (income)

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1,070,883

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96,967

1,070,883

96,967

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Unrealized gain on marketable securities

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6,617,587

6,617,587

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Transaction costs

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3,608,655

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3,608,655

Net income (loss) before listing fees and income taxes

1,264,809

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(5,943,274)

(26,236,678)

(2,033,270)

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(30,915,143)

(2,033,270)

Listing fees

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68,055

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68,055

Net income (loss) after listing fees

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1,264,809

(5,943,274)

(26,304,733)

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(2,033,270)

(30,983,198)

(2,033,270)

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 Income taxes

538,704

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538,704

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Net Income (loss) after income taxes

$

726,105

$

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$

(5,943,274)

$

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$

(26,304,733)

$

(2,033,270)

$

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$

$

(31,521,902)

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$

2,033,270)

Net income (loss) and comprehensive loss attributable to:

Owners of the parent

776,904

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(5,943,274)

(26,304,733)

(2,033,270)

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(31,471,103)

(2,033,270)

Non-controlling interest

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50,799

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50,799

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726,105

(5,943,274)

(26,304,733)

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(2,033,270)

(31,521,902)

(2,033,270)

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Segmented statement of operations for the year ended June 30, 2019

(Expressed in United States dollars)

MSO

CBD

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Head office

Allocations

Total

2019

2018

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2019

2018

2019

2018

2019

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2018

2019

2018

Sales

Revenue

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$

13,490,190

$

$

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2,239,613

$

$

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$

$

$

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$

15,729,803

$

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Cost of goods sold

8,844,293

3,599,882

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3,959,958

16,404,133

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Gross profit before fair value adjustments

4,645,897

(1,360,269)

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(3,959,958)

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(674,330)

Fair value change in biological assets included in inventory
sold and other charges

662,212

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662,212

Unrealized gain on changes in fair value of biological assets

(1,012,549)

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(1,012,549)

Gross profit

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4,996,234

(1,360,269)

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(3,959,958)

(323,993)

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Operating Expenses

General and administration

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22,791,162

1,364,719

(2,039,682)

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20,751,480

1,364,719

Legal and professional fees

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17,337,691

1,163,810

(1,914,593)

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15,423,098

1,163,810

Consulting fees

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Sales and marketing

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2,104,497

5,624,291

903,863

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8,632,651

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Stock based compensation

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3,839,254

3,839,254

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Depreciation and amortization

68,500

178,938

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949,927

(5,683)

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1,191,682

Other income

(39,060)

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(521)

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(39,581)

2,133,937

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5,803,229

45,821,376

2,528,529

(3,959,958)

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49,798,584

2,528,529

2,862,297

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(7,163,498)

(45,821,376)

(2,528,529)

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(50,122,577)

(2,528,529)

Non-operating expenses

Loss on equity investment in Xanthic Beverages USA, LLC

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671,579

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671,579

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Gain in fair value of derivative liability

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(2,739,549)

(2,739,549)

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Interest expense

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3,509,419

1,113

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3,509,419

1,113

Accretion expense

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466,264

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466,264

Foreign exchange loss (income)

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1,419,220

96,967

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1,419,220

96,967

Unrealized gain on marketable securities

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(4,347,339)

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(4,347,339)

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Transaction costs

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13,260,093

13,260,093

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Net income (loss) before listing fees and income taxes

2,862,297

(7,163,498)

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Stake.com

(58,061,063)

(2,626,609)

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(62,362,264)

(2,626,609)

Listing fees

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767,245

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767,245

Net income (loss) after listing fees

2,862,297

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Stake.com

(7,163,498)

(58,828,308)

(2,626,609)

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(63,129,509)

(2,626,609)

 Income taxes

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1,202,300

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1,202,300

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Net income (loss) after income taxes

$

1,659,997

$

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$

(7,163,498)

$

$

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Stake.com

(58,828,308)

$

(2,626,609)

$

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Stake.com

$

$

(64,331,809)

$

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(2,626,609)

Net income (loss) and comprehensive loss attributable to:

Owners of the parent

1,737,432

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(7,163,498)

(58,828,308)

(2,626,609)

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(64,254,374)

(2,626,609)

Non-controlling interest

77,435

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77,435

1,659,997

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(7,163,498)

(58,828,308)

(2,626,609)

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(64,331,809)

(2,626,609)

Supplemental segmented information

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Assets

107,923,000

29,556,255

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12,306,292

4,706,580

149,785,547

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4,706,580

Liabilities

18,449,277

7,307,803

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81,490,951

316,768

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107,248,031

316,768

SOURCE Green Growth Brands

Cannabis

Fractional Flow Reserve Market growing at a CAGR of 15.56% during the forecast period [2024-2030] – Exactitude Consultancy

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Luton, Bedfordshire, United Kingdom, July 15, 2024 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fractional Flow Reserve Market.

The global fractional flow reserve market size was valued at USD 971.09 million in 2023 and is expected to reach USD 2.31 billion by 2030, growing at a CAGR of 15.56% during the forecast period.

The Fractional Flow Reserve Market report offers an in-depth analysis of the industry, categorizing the market by type, application, and geographic distribution. This detailed examination includes insights on market size, market share, growth trends, competitive landscape, and key factors influencing growth and challenges. It also highlights prevalent industry trends, market fluctuations, and the overall competitive environment.

The document provides a comprehensive view of the Global Fractional Flow Reserve Market, equipping stakeholders with the necessary tools to identify areas for industry expansion. The report meticulously evaluates market segments, the competitive scenario, market scope, growth patterns, and key drivers and constraints. It further segments the market by geographic distribution, illuminating market leadership, growth trends, and industry shifts. Significant market trends and transformations are also emphasized, offering a deeper understanding of the market’s complexities. This guide empowers stakeholders to leverage market opportunities and make informed decisions. Additionally, it clarifies the critical factors shaping the market’s trajectory and its competitive landscape.

Get a Sample PDF Brochure of the Report: https://exactitudeconsultancy.com/reports/23485/fractional-flow-reserve-market/#request-a-sample

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Recent Development:

  • April 19, 2023, Philips collaborated with Saint-Joseph Hospital and Marie-Lannelongue Hospital to improve cancer care.
  • March 20, 2023, Terumo Medical Corporation had announced the findings of an IDE trial for its Cross-Seal Suture-Mediated VCD System. It demonstrated, among other things, that the primary safety endpoint of freedom from major complications at the target limb access site within 30 days after the procedure was met.

Growth Enablers

Growth Enablers of the Fractional Flow Reserve Market

  • Increasing Prevalence of Cardiovascular Diseases
  • Technological Advancements
  • Growing Adoption of Minimally Invasive Procedures
  • Favorable Reimbursement Policies
  • Expansion in Emerging Markets
  • Increased Awareness and Education
  • Strategic Collaborations and Partnerships

Trending Factors in the Fractional Flow Reserve Market

Integration of Artificial Intelligence and Machine Learning: The incorporation of AI and ML in FFR technologies is revolutionizing the market by enhancing the accuracy and efficiency of diagnostic procedures. AI algorithms assist in better image analysis and interpretation, leading to more precise assessments of coronary artery disease​​.

Shift Towards Non-Invasive FFR Techniques: There is a growing trend towards non-invasive FFR methods, such as FFR-CT (Computed Tomography), which reduces the risks associated with invasive procedures. These techniques are becoming more popular due to their ability to provide accurate results without the need for catheterization​.

Expansion in Emerging Markets: Emerging economies, particularly in the Asia-Pacific region, are witnessing rapid growth in the FFR market. This is driven by increasing healthcare expenditure, a rising prevalence of cardiovascular diseases, and improvements in healthcare infrastructure​.

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Technological Innovations and Product Launches: Continuous innovation and the introduction of advanced FFR devices are significant trends. Companies are investing heavily in R&D to develop new products that offer better diagnostic capabilities and ease of use. For instance, recent product launches like the Artis icono biplane by Siemens Healthineers highlight the focus on enhancing interventional cardiology workflows​​.

Collaborations and Strategic Partnerships: The market is seeing numerous collaborations and strategic partnerships among key players. These alliances aim to combine expertise, expand product portfolios, and enhance market reach. Such partnerships are crucial for driving innovation and market growth​

Regulatory Approvals and Reimbursement Policies: Favorable regulatory approvals and supportive reimbursement policies are key factors influencing the market. For instance, the approval of CathWorks FFRangio by the US FDA and its subsequent reimbursement approval in Japan have positively impacted the market​​.

These trending factors highlight the dynamic nature of the FFR market, driven by technological advancements, strategic collaborations, and growing awareness and adoption of minimally invasive diagnostic procedures.

The North America region accounted for the largest volume-based share of 37%.

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Due to the growing geriatric population linked to cardiovascular diseases and the growing technological advancements in FFR monitoring devices, North America is anticipated to hold a significant market share in the fractional flow reserve market. The global fractional flow reserve market was dominated by the United States. The United States has become a major fractional flow reserve market shareholder due to the faster adoption of value-based products in the healthcare system, increased clinician awareness, and increasing adoption of FFR-CT.

Fractional Flow Reserve Market Report Scope
Report Attribute Details
Market size value in 2023 at USD 971.09 million
Revenue forecast in 2030 USD 2.31 billion by 2030
Growth rate CAGR of 15.56% from 2023 to 2030
Base year for estimation 2023
Historical data 2019 – 2023
Forecast period 2023 – 2030
Quantitative units Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product, application, region
Regional scope North America; Europe; China; Asia; Pacific; Central & South America; MEA
Country scope U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman
Key companies profiled OPSENS Medical, Abbott Laboratories, Koninklijke, Philips N.V., Acist Medical Systems Inc., Boston Scientific, Medtronic plc, B. Braun Melsungen, Siemens, Terumo Medical Corporation and Medis Medical Imaging System.

Browse Detailed Summary of Research Report with TOC: https://exactitudeconsultancy.com/reports/23485/fractional-flow-reserve-market/

Key Market Segments: Fractional Flow Reserve Market Segment:

Fractional Flow Reserve Market by Product, 2023-2030 (USD Billions) (Kilotons)

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  • FFR Guidewires
  • FFR Monitoring Systems
  • Other

Fractional Flow Reserve Market by End Use, 2023-2030 (USD Billions) (Kilotons)

  • Multi-Vessel Coronary Artery Disease
  • Single-Vessel Coronary Artery Disease

Driving Factors of the Fractional Flow Reserve Market

Rising Cardiovascular Disorders: The increasing prevalence of cardiovascular diseases is significantly boosting the demand for FFR procedures.

Technological Advancements: Innovations in FFR systems are enhancing diagnostic accuracy and efficiency, thereby expanding the market.

Growing Adoption of Minimally Invasive Procedures: The minimally invasive nature of FFR aligns with the preference for less invasive treatments, promoting market growth.

Expanding Geriatric Population: The aging population is contributing to a higher incidence of coronary diseases, which in turn drives the need for FFR assessments.

Supportive Reimbursement Policies: Favorable reimbursement policies encourage healthcare providers to adopt FFR technologies, aiding market development.

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Increasing Awareness and Education: Growing awareness among physicians and patients about the benefits of FFR is fueling market expansion.

Restraining Factors of the Fractional Flow Reserve Market

Cost Constraints: High initial setup and maintenance costs limit the adoption of FFR, especially in developing regions.

Complexity of Procedure: The complexity involved in performing FFR procedures may discourage some healthcare providers from incorporating it into their practice.

Regulatory Challenges: Stringent regulatory requirements for FFR devices can impede market growth and innovation.

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https://exactitudeconsultancy.com/reports/23485/fractional-flow-reserve-market/#request-a-sample

Key Questions Answered:

  • What is the current size of Fractional Flow Reserve Market?
  • What are the Key factors influencing the Growth of Fractional Flow Reserve Market?
  • Who are Major Competitors in the Fractional Flow Reserve Market?
  • What are the major applications of the Fractional Flow Reserve Market?
  • Which Region is holding the largest share in the Fractional Flow Reserve Market?

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Cannabis

IM Cannabis Shares Commence Trading on 6:1 Consolidated Basis

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im-cannabis-shares-commence-trading-on-6:1-consolidated-basis

TORONTO and GLIL YAM, Israel, July 12, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IM Cannabis“), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that, further to its press release dated July 5, 2024, effective today the Company’s common shares (“Common Shares“) are trading on the Canadian Securities Exchange (the “CSE“) and Nasdaq Stock Market LLC (“NASDAQ“) on a 6:1 post-consolidated basis (the “Consolidation“).

The Company’s trading symbol remains “IMCC” on both the CSE and NASDAQ. The Company’s new CUSIP and ISIN numbers are 44969Q406 and CA44969Q4060, respectively.

After giving effect to the Consolidation, the Common Shares were reduced from 13,394,136 to 2,232,357 Common Shares. No fractional Common Shares were issued in connection with the Consolidation. Instead, all fractional Common Shares equal to or greater than one-half resulting from the Consolidation were rounded to the next whole number, otherwise, the fractional Common Share were cancelled. The exercise price and/or conversion price and number of Common Shares issuable under any of the Company’s outstanding convertible securities were proportionately adjusted in connection with the Consolidation.

Computershare Investor Services Inc., the Company’s registrar and transfer agent for the Common Shares, has mailed letters of transmittal to registered shareholders of record as of July 12, 2024 providing instructions for the exchange of their Common Shares as soon as practicable following the effective date. Registered shareholders may also obtain a copy of the letter of transmittal by accessing the Company’s SEDAR+ profile at www.sedarplus.ca. Until surrendered, each Common Share certificate or direct registration system statement representing pre-consolidated Common Shares will represent the number of whole post-consolidated Common Shares to which the holder is entitled as a result of the Consolidation. No action is required by beneficial holders to receive post-consolidation Common Shares in connection with the Consolidation. Beneficial holders who hold their Common Shares through intermediaries (e.g., a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how the Consolidation will be processed should contact their intermediaries with respect to the Consolidation.

About IM Cannabis Corp. 

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IM Cannabis (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IM Cannabis’ products throughout the entire value chain. In Germany, the IM Cannabis ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to the Company amplifying its commercial and brand power to become a global high-quality cannabis player.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to maintain the listing requirements of the CSE and NASDAQ; the Company’s ability to focus on Israel, Germany and Europe; the Company’s ability to realize upon the stated benefits of the partial legalization of cannabis in Germany; and the Company amplifying its commercial and brand power to become a global high-quality cannabis player. The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the CSE and NASDAQ; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical Herbs Ltd. (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East; the risk of the Company’s inability to capitalize upon the partial legalization of cannabis in Germany; and risks the Company will be unable to amplify its commercial and brand power and/or be unable to become a global high-quality cannabis player.

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Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations, and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
a.taranko@imcannabis.de

Oren Shuster, Chief Executive Officer
IM Cannabis Corp.
+972-77-3603504
info@imcannabis.com

Logo – https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg

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Legal Cannabis Market Share Value Projected to Reach USD 194.5 Billion, at 16.9% CAGR by 2034: Prophecy Market Insights

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Covina, July 11, 2024 (GLOBE NEWSWIRE) — The study concludes that the global legal cannabis market size and share is expected to grow at a CAGR of 16.9% between 2024 and 2034. The market revenue of USD 47 Billion in 2024 is expected to grow up to USD 194.5 Billion by 2034.

Cannabis was an illicit drug before, but its legalization process is on fast track today in many nations around the globe, opening a multibillion-dollar market with huge growth potential. The said market is bifurcated into two categories: medical cannabis, used for the treatment of various diseases, and recreational cannabis, for fun and other purposes. Most marijuana consumers are young, especially millennials. Males use it more than females, while the level of consumption is also predicated by class and thereby affects the rate of consumption. Psychographics show that marijuana consumers are social, open to experiences, and concerned about health; the last two probably represent a broader moving trend to natural products and alternate medicine.

The legal cannabis market offers a huge amount of variety, starting from flowers to extracts and consumables like cookies and chocolate that can be applied topically on the skin. Concentrations are gaining their following and popularity because of their potency. Also very popular are the edibles—baked goods, particularly cookies, and sweets—that appeal to those who crave discreetness and effectiveness all at once in consumption.

Download a Free Sample Research Report with Latest Industry Insights: https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/5434      

Our Free Sample Report includes:

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  • Overview & introduction of market study
  • Revenue and CAGR of the market 
  • Drivers & Restrains factors of the market 
  • Major key players in the market 
  • Regional analysis of the market with a detailed graph
  • Detailed segmentation in tabular form of market 
  • Recent developments/news of the market 
  • Opportunities & Challenges of the Market

Some of the Key Market Players:

  • Aurora Cannabis
  • Cresco Labs
  • Jazz Pharmaceuticals
  • Verano Holdings
  • Canopy Growth Corporation
  • Green Thumb Industries
  • Trulieve Cannabis
  • MedMen
  • Aphria
  • Cronos Group
  • Curaleaf
  • GW Pharmaceuticals, plc.
  • The Green Organic Dutchman

To Know More on Market Players, Download a Free Sample Report Here: https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/5434    

Analyst View:

Global cannabis regulations differ, but most countries are legalizing it fast, thereby creating a multibillion-dollar market with huge growth potential. The market segments include cannabis for recreation and cannabis for medical use. Young people form a huge part of the cannabis users, particularly the millennial group who exhibit a social class influence. Due to early legalization and permissive rules, North America is the leader of the legal cannabis business concerning product variety. The constantly changing process of the market keeps including new and different consumers and substances like CBD or substances for euphoric-balming effects.

Legal Cannabis Market: Report Scope
Report Attributes Details
Market value in 2024 USD 47 Billion 
Market value in 2034 USD 194.5 Billion
CAGR 16.9% from 2024 – 2034
Base year 2023
Historical data 2019-2022
Forecast period 2024-2034

Market Dynamics:

Drivers:

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Growing Recognition and Legalization

  • Together, the increasing number of countries legalizing cannabis and the health benefits derived from medical marijuana easily make the global legal cannabis market ripe for significant growth. North America dominates the market due to major contributors such as the US, Canada, the UK, Germany, and Australia. The medicinal properties of cannabis will most probably drive massive growth in the medical cannabis market. Recreational use of marijuana is projected to have the fastest growth rate, and, as such, create jobs and boost the economy. The growth of the market results from geographical expansion, regulatory frameworks, and technological enhancements.

Increasing Customer Requirements

  • It’s the change in consumer expectations that’s driving big shifts in the legal cannabis sector. Companies are rolling out new product lines to cater to health-conscious consumers who demand a wider variety of cannabis-infused products. Where consumers want organically grown and pesticide-free cannabis, quality, and safety also rank very high. Consumers demand personalized experiences, where buyers and dispensaries are very important in guiding clientele to the right products. Moreover, there is an increase in sustainability and social responsibility due to customers valuing companies advocating for them. Technological integration is also being utilized to enhance convenience and engagement measures.

Request for a Discounted Price on this Report @ https://www.prophecymarketinsights.com/market_insight/Insight/request-discount/5434       

Market Trends:

Benefits of Medicine and Research

  • Growth opportunities in legal cannabis mainly come from the legalization of their consumption, primarily for medical use. There are several medical diseases where the benefits of the use of cannabis have been proved, and the FDA has approved quite a few drugs derived from this plant. Improved cultivation, extraction, and testing technologies are also able to raise the quality and safety of products. The medicinal properties of cannabis are also opening up new options in treatment today, especially with those disorders resistant to traditional medications. Growing awareness of the potential economic opportunities that cannabis avails itself to could further drive the development of new innovative products and treatments, thereby accelerating market growth.

Segmentation:

Legal Cannabis Market is segmented based on Source, Compound, Products, and Region.

Source Insights

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  • From the flowers, which have classically been the traditional form of cannabis for as long as anyone can remember, to a large collection of strains with different cannabinoid levels, the flower truly captures the capabilities of the plant. Seed oil is another source that is not psychoactive in nature but is popular mainly due to its abundance of vital fatty acids and possible health benefits. Other sources are concentrated and super-potent cannabis products like trichomes, kief, and live resin. The infused product market is bound to grow with rising demand for seed oil. All in all, cannabis continues changing to best accommodate these different types of customers.

Compound Insights

  • Tetrahydrocannabinol is the widest cannabinoid used and has euphoric-balming effects. With increasing education among consumers, it can maintain its market share. One of the non-psychotic components is CBD, which helps in pain management and sleep quality, amongst others. Balanced THC & CBD: This segment caters to customers looking for a balanced experience by balancing the analgesic, relaxing properties of THC with the anxiety-reducing, focused properties of CBD.

Product Insights

  • Cannabis oil is quite often a concentrate, one can administer it topically for pain, consume it right out of the container, or use it in edibles. Cannabis drinks, like coffee, bubbling water, and spiked drinks, offer a more discreet and convenient way of consumption. Cannabis candies and chocolates are also other discreet and controlled ways. The legal cannabis sector is always experimenting with new products, vaporizers, topicals, edibles, baked foods, and sprays. Cannabis is also used for pet treats quite frequently. It is believed to expand the market for edibles as much as consumer acceptability and legalization expand.

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Recent Development:

  • In July 2024, Hundreds of pro-cannabis advocates took to Bangkok’s streets to protest a possible ban on general use. The Thai government floated plans to relist the plant as a narcotic, two years after it was decriminalized, earlier this year. A health ministry drug control committee approved the proposal, which would see cannabis only allowed for medical and research purposes.
  • In July 2024, NIST’s New Hemp Reference Material Will Help Ensure Accurate Cannabis Measurements. NIST’s Hemp Plant Reference Material will aid labs in accurately measuring THC, CBD, and other compounds in cannabis products, aiding forensic labs in distinguishing between legal hemp and federally controlled marijuana. It will also assist producers and state regulators in ensuring the safe use and accurate labeling of cannabis products.

Regional Insights

  • North America: The charge is currently being led from North America, due to early legalization and relatively permissive laws in countries like Canada and a number of US states. With so many goods on offer against the backdrop of a clientele base very loyal to their products, almost everything is put in place to create an almost perfect environment. The growth of the North American legal cannabis business is aided by many things, especially the medicinal and recreational markets, consumer demand, and lastly, medicinal research. The largest players are represented by Canopy Growth and Aurora Cannabis. The country with the most rapid growth relocated to Canada.
  • Asia Pacific: Asia is increasingly tolerating the use of medical marijuana, mainly in South Korea and Thailand, the growing disposable money of relatively less developed countries at large will set the stage for marijuana legalization for recreational use when regulations change.

Browse Detail Report on “Legal Cannabis Market Size, Share, By Source (Flowers, Seed oil, others), By Compound (Tetrahydrocannabinol, Cannabidiol, Balanced THC & CBD), By Product (Cannabis Oil, Cannabis Beverages, Cannabis Chocolates & Gummies, Others) By Application (Medical, Scientific, Industrial, and Horticultural purposes) and Region – Trends, Analysis and Forecast till 2034” with complete TOC @ https://www.prophecymarketinsights.com/market_insight/legal-cannabis-market-5434

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