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From NYSE IPO to Canopy’s Shipment to Brazil to MyDx Poor Earnings…You Need to Read This!

Nov 25, 2016 • 12:35 PM EST
5 MIN READ  •  By Michael Berger
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Cannabis stocks have been trending lower and Technical420 continues to help its members build wealth while preserving it at the same time through best-in-class stock analysis. Today, we want to highlight some important trends to help you become a better cannabis trader too!

Canopy Growth’s Subsidiary Exports Cannabis to Brazil

Canopy Growth (CGC.TO) (TWMJF) issued an update folowing its June 28th announcement as to its joint venture with Entourage Phytolab and the formation of Bedrocan Brasil, both companies partly owned by Canopy Growth.

First Export to South America

Canopy’s wholly-owned subsidiary Bedrocan Canada successfully exported 10 kg of dried cannabis to Brazil for research purposes. Securing a supply of standardized research grade cannabis is a major milestone in the Entourage clinical development plan and to the company’s knowledge marks the first time that medical cannabis from a Canadian Licensed Producer has been exported to a country in South America.

Entourage will now begin clinical study drug preparation and stable pharmaceutical formulations needed for the development of a whole plant drug candidate targeting epilepsy and pain management for registration before the Brazilian health authority ANVISA anticipated in 2018.

Initial Funding Secured

Canopy Growth, Entourage and Bedrocan Brasil have completed an initial funding round of $3 million in exchange for common shares in Entourage and Bedrocan Brasil. These funds will be used both for the continuing development of Bedrocan Brasil and the launch of the Entourage clinical research plan.

Company on Track; Addition to its Board

The company is fully on track to deliver Brazilian patients best-in-class cannabis-based medicines made and registered in Brazil.

In addition, Entourage announced that Antonio Droghetti Neto has joined its Board of Directors. Droghetti is an economist and business administrator with expertise and broad experience in structuring start-up stage companies.

Canopy Growth has also fallen more than 20% in the last week and we expect to see a favorable reaction from the market to this update. We continue to view CGC as a top investment opportunity within the cannabis sector and see long-term upside to current levels. Register to Technical420 to learn more!

Real Estate Update: NYSE REIT IPO Update & Industry Update (as first reported by New Cannabis Ventures)

Innovative Industrial Properties (NYSE: IIPR) was expected to commence trading this week through an IPO on the New York Stock Exchange but the offering was delayed until at least next week.  The company recently filed a third amendment to its S-11 registration statement which has yet to clear the SEC. The market expects to see changes made to the amount of equity received by company management.

Although IIPR could become the first publicly-traded cannabis REIT on the NYSE, several public companies focused on the cannabis real estate industry have tested the capital markets on the OTC exchange. These companies were not successful and we remain on the sidelines and continue to view these companies as not attractive investments.

We have been favorable on IIPR’s planned IPO due to the lack of sound investment opportunities within the cannabis real estate industry. We have attended several cannabis and investing conferences in the last six months where a cannabis focused REIT was a topic of conversation and of interest to attendees.

These attendees were high-net-worth investors, financial advisors and registered investment advisors and they were discussing the level of interest for a publicly traded cannabis real estate company that trades on an exchange like the Nasdaq or NYSE.

The cannabis industry has seen a number of failed attempts from OTC companies and IIPR looks like the best opportunity for investors interested in a cannabis company focused on the real estate side of the cannabis industry. We will keep you updated on any developments! Stay tuned! Register to Technical420 to learn more!

MyDx Earnings Don’t Justify 100% Rally Since Late September

MyDx, Inc. (MYDX) announced its financial results for the third quarter that ended on September 30th and provided guidance for the upcoming quarter as well as early 2017. The earnings were rough and its balance sheet is not strong. Although sales are improving, we do not believe the company has enough capital to execute and fulfill capacity.

During the quarter, MyDx reported a greater than $2.8 million net loss on $134,240 is revenue. The company saw its sales decline 38% on a year-over-year basis. MyDx attributes the lower revenue to higher shipments in 2015 which were a cumulative buildup of pre-sales from the company’s inception.

Since inception, the capital raised by MyDx has been used primarily for research and development efforts and to support operations. As of September 30, 2016, the company had a cash balance of $183,752 with a net working capital deficit of $2,420,840. Management said its cash on hand will not be sufficient to fund operations for the next 12 months.

MYDX is up more than 100% off its lows in late September and we believe there are better investment opportunities available.

Aphria Agrees with Changes Made by Canadian Federal Government

Yesterday, Aphria Inc. (APH: TSX Venture) (APHQF: OTC) announced that it agrees with the recent changes made by the Canadian federal government to its Veteran Affairs policy on medical cannabis. The change limits the amount that can be prescribed to a veteran to 3 grams a day, unless they receive a special exemption.

Management said that Aphria works in full transparency with Health Canada within strict regulatory guidelines and to the highest ethical standards when delivering health care options. The company said it does not engage in the practice of dual pricing between veteran and non-veteran platforms.

Aphria developed the CannWay brand for the veteran community and it was developed by veterans specifically for their peers. The product line is comprised of an assortment of strains that they hand selected to manage the various ailments they deal with daily, including PTSD and chronic pain

Aphria prides itself on its superior patient care and continues to receive accolades from independent industry associations and sites, including winning the 2016 Canadian Cannabis Award for Best Customer Service.

APH.V has fallen more than 20% in the last week and we are monitoring the shares closely after APH.V was halted yesterday for hitting a single stock circuit breaker. Register to Technical420 to learn more!


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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.


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