Origin House (CNSX:OH) Stock Is Up 108% Since Its Listing on CSE
Origin House (CNSX:OH)‘s stock is up over 108% from its listing price of $5.40 on May 18, 2018. The stock closed at $11.27 CAD on May 17, 2019. Since its listing, OH’s stock has been moving within in a range of $3.18-11.40.
Origin House’s (recently renamed from CannaRoyalty Corporation) investors have had to with longer since its last quarterly report in November to know how the company performed in Q4 2018. Earlier this mornith, Origin House (OTCMKTS: ORHOF) announced its Q4 2018 financial results which shows the company has had tremendous revenue growth.
Q4 2018 results and milestones
The company began by offering cannabis operators with funding through royalty streaming deals. However the company has diversified and they now focus on the California cannabis brands as well as distribution operations although they still make considerable revenue from the royalty streaming business. Although the company didn’t give a breakdown of the Q4 revenue according to segments close to 92% of the revenue coming from cannabis operations in California. The rest of the revenue resulted from interests, royalties and services.
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Origin House’s Q4 2018 revenue grew 19% sequentially from Q3’s total revenue of $4.93 million. The growth in revenue was a result of Origin House’s California cannabis distribution business as well as the addition of new product line of cannabis brands.
Origin House agreements and deals
In Q4 2018 the company completed acquisition of 180 Smoke a Canadian based vape retailer. Similarly there are other notable developments that the company achieved in the quarter such as deals with Viola Brans, Henry’s Original and Kurvana. The company also entered strategic financing agreements with Utopia cannabis and Humboldt’s Finest Farms.
Perhaps the biggest development was plans by Cresco Labs (OTCMKTS: CRLBF) to acquire Origin House in one of the largest cannabis company all-stock transaction.
In a statement, Origin House president Afzal Hassan indicated that they were delighted about how the company performed last year. Most of the year was spent in developing and creating premium brands and a distribution platform in California.
Origin House CEO, Marc Lustig said that the Cresco labs acquisition was a result of the company’s aggressive creation of premium brands and a distribution platform in California. The combined entity will dominate the US with over 50 brands and 725 dispensaries.
Martello Technologies (CVE-MTLO) Stock Falls 39% Since RTO
Martello Technologies Group, Inc. (CVE:MTLO) stock has tumbled over 39% on the CSE since its reverse takeover transaction (RTO) on September 12, 2018. The stock fallen from $0.44 to $0.27.
Martello Technologies Group Inc. delivered impressive financial results for Q3 FY2019 helped by customer growth across all business lines. Expansion into high growth markets as well as the successful integration of acquisitions helped the company post a 44% increase in sales.
Q3 Financial Results
Revenue in the quarter totaled $3.1 million, representing a 136% year over year increase and 57% improvement from second quarter levels. Revenue for the first nine months of FY2019 totaled $7 million, representing a 105% increase.
Gross margin for the first nine months of the year totaled 93.7%, a 1% drop from 94.7% for the corresponding period last year. Amidst the robust revenue growth and solid gross margin, Martello plunged into a net operating loss of -$1.3 million compared to a net loss of -$18,961 as of the third quarter last year.
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Chief Executive Officer, John Proctor, has quashed concerns about the wider than expected net loss reiterating that investments made throughout the year have positioned the company for robust growth going forward.
Martello Outlook
During the year, the company achieved significant milestones expected to expand the addressable market, ideal for supporting revenue growth going forward. For instance, the company inked a strategic partnership with Paessler expected to make the company’s products available in the German market. Close ties with Mitel also continues to blossom depicted by the launch of Mitel Performance Analytics developed by Martello
An aggressive expansion drive has resulted in the deployment of Martello’s IT solutions in over 150 countries, creating a reliable stream of revenues. In addition, the company has diversified its revenue base on accruing a customer base made up of more than 5,000 customers.
The Company’s IT solutions and infrastructure continues to elicit strong demand from national as well as central bank institutions and hotels. Martello also continues to see an uptick in orders from large organizations such as the United Nations, KPMG, and United Postal Office.
Martello is also increasingly developing products to cater to the ongoing migration into the Cloud. The Company’s long-term vision is to become a leading provider of solutions for managing the performance of services in public, private, and hybrid cloud environments.
MediPharm Labs Corp. (OTCMKTS – MEDIF) Announces Solid Results, Stock Doubles in Six Weeks
MediPharm Labs Corp. (OTCMKTS:MEDIF) stock has been on fire over the past six weeks amid several headlines by the company. MEDIF stock has jumped over 100% since March 2019. MediPharm’s stock is up another 5% in early trading session after hitting a new 52-week high of $4.99..
This morning, MediPharm reported solid revenue growth in its fiscal first quarter. The company’s revenue soared 115% year over year to $22 million. Moreover, gross margin was stood at 31%.
Adjusted EBITDA increased by 102% to $4.3 million, over Q4 2018, Adjusted EBITDA. Acquired more than 5,000 kg of dried cannabis in the last two weeks of Q1 from multiple Licensed Producers to fulfill robust demand for private label offerings.
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Last week, MediPharm Labs begun trading under the symbol MEDIF after upgrading from OTCQB Venture Market to OTCQX Best Market. Additionally, The company also announced that it has received Depository Trust company eligibility for its common stock in the US.
DTC Eligibility
DTC eligibility simplifies the trading and transferring of common stock between brokerages in the United States. Patrick McCutcheon the CEO of MediPharm Labs stated that the company was delighted to receive DTC eligibility which will facilitate the trading of the company’s common stock in the markets. He added that they are also pursuing other opportunities to strengthen and enhance the company’s liquidity and value for stockholders while increasing accessibility for investors and institution in the US.
MediPharm Labs common stock will be settled and distributed through the automated DTC processes which give greater efficiency at reduced costs because of the use of electronic clearing and accelerated settlement of securities.
Change Of Ticker Symbol
The company indicated t5hat FINRA had approved the change of their stock trading symbol from “MLCPF” to “MEDIF” on OTCQB Markets. McCutcheon stated that as a fully licensed producer, MediPharm has scaled its operations to become a dominant market Leader in the processing of cannabis and manufacture of high-quality cannabis pharmaceutical products. he added that the company has embarked on an ambitious plan to boost its international and local growth as they strive to become a market leader.
The upgrading from the OTCQB Market to the OTCQX Market is one of the steps the company is taking to attain accelerated growth and it also shows the commitment of the company to transparency and improving liquidity. It is also a way of enhancing MediPharm’s exposure and access to investors to be part of the success of the company.
Jason Paltrowitz the OTC Markets Group Executive Vice President of Corporate Services indicated that MediPharm Labs was among a number of leading companies and innovators in their industry that have joined OTCQX Best Market. He added that OTCQX enables companies to provide investors with a transparent public market to research and trade their shares.
Considering the recent rally in the stock, it would be interesting to see where the stock will go from here on.