Annuncio • Jan 31
Body and Mind Inc. Announces Resignation of Joshua Rosen as Director Body and Mind Inc. announced that Joshua Rosen has resigned as a director of the Company. Mr. Rosen was a member of the audit committee of the Board of Directors as well as a member and the chair of the compensation committee of the Board. Board Change • Jan 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Alexis Podesta was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Nov 16
Body and Mind Inc. announced that it has received $0.099964 million in funding On November 15, 2024, Body and Mind Inc. closed the transaction. The transaction included participation from five investors. Annuncio • Oct 30
Body and Mind Inc. announced delayed annual 10-K filing On 10/29/2024, Body and Mind Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Board Change • Sep 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Alexis Podesta was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Jun 15
Body and Mind Inc. announced delayed 10-Q filing On 06/14/2024, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Mar 19
Body and Mind Inc. announced delayed 10-Q filing On 03/18/2024, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Mar 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Alexis Podesta was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Feb 02
Vegas Brazil LLC entered into a purchase agreement to acquire Nevada Medical Group, LLC from Body and Mind Inc. (OTCPK:BMMJ) for $2 million. Vegas Brazil LLC entered into a purchase agreement to acquire Nevada Medical Group, LLC from Body and Mind Inc. (OTCPK:BMMJ) for $2 million on January 31, 2024. The purchase price consists of cash deposit of $0.25 million and $0.75 million to be paid in six months of receipt of regulatory approval by the Nevada Cannabis Compliance Board. And $1 million of promissory note to be delivered by the Vegas Brazil LLC on closing. The purchase price is subject to a working capital adjustment Note will be paid in six (6) equal monthly payments with the first payment occurring on the seven month anniversary of the closing date. Closing shall occur no later than fifteen (15) calendar days following receipt of Regulatory Approval and satisfaction or waiver Annuncio • Jan 25
Body and Mind Inc. Receives State Approval for New Jersey Dispensary Body and Mind Inc. announced the State of New Jersey Cannabis Regulatory Commission has approved the application for an Annual Class 5 Cannabis Retailer license to operate an adult, personal-use cannabis business in the State of New Jersey. The state approval combined with local preapproval allows Body and Mind to advance the Lawrenceville, New Jersey dispensary which is being developed in an existing 4,100 square foot building in the Lawrenceville township area north of Trenton, New Jersey. Annuncio • Dec 16
Body and Mind Inc. announced delayed 10-Q filing On 12/15/2023, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Nov 29
Body and Mind Inc. (OTCPK:BMMJ) completed the acquisition of Airport Collective, Inc. from Green Light District Holdings, Inc. Body and Mind Inc. (OTCPK:BMMJ) entered into a definitive agreement to acquire Airport Collective, Inc. from Green Light District Holdings, Inc. for $7.9 million on July 3, 2019. The consideration under the Purchase Agreement includes $5.2 million convertible note issued by GLDH to Body and Mind on November 28, 2018 is to be applied towards the purchase price and $1.5 million to be paid in common shares of Body and Mind to a maximum of 2.7 million Common Shares upon Body and Mind receiving the transfer of all licenses, permits and BCC authorizations for Body and Mind to conduct medical and adult-use commercial cannabis retail operations. The Share Payment is subject to reduction in the event there are undisclosed liabilities by GLDH and Airport Collective. The acquisition is subject to certain closing conditions including receipt of applicable licenses.
Body and Mind Inc. (OTCPK:BMMJ) completed the acquisition of Airport Collective, Inc. from Green Light District Holdings, Inc. on November 28, 2023. Annuncio • Oct 31
Body and Mind Inc. announced delayed annual 10-K filing On 10/30/2023, Body and Mind Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. New Risk • Oct 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.1m (US$9.68m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.0m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Earnings have declined by 60% per year over the past 5 years. Market cap is less than US$10m (CA$13.1m market cap, or US$9.68m). Minor Risk Shareholders have been diluted in the past year (29% increase in shares outstanding). Board Change • Sep 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Alexis Podesta was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Jun 15
Body and Mind Inc. announced delayed 10-Q filing On 06/14/2023, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Jun 08
Body and Mind Inc. Announces Executive Changes On June 2, 2023, Darren Tindale resigned as the Corporate Secretary of Body and Mind Inc. effective June 2, 2023. Mr. Tindale’s departure was not the result of any dispute or disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Effective June 5, 2023, the Board of Directors of the Company accepted the resignation of Mr. Tindale as the Corporate Secretary of the Company and also appointed Stephen ‘Trip’ Hoffman, the Company’s current Chief Operating Officer, as the Corporate Secretary of the Company. Reported Earnings • Mar 24
Second quarter 2023 earnings released: US$0.022 loss per share (vs US$0.026 loss in 2Q 2022) Second quarter 2023 results: US$0.022 loss per share (improved from US$0.026 loss in 2Q 2022). Revenue: US$7.74m (down 3.8% from 2Q 2022). Net loss: US$2.85m (loss narrowed 1.1% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Board Change • Mar 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Alexis Podesta was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Feb 03
Body and Mind Inc. Announces Board Changes Body and Mind Inc. announced the appointment of Josh Rosen to its board of directors. Mr. Rosen is managing partner at Bengal Capital as well as interim president of Goodness Growth. Mr. Rosen was the co-founder and former chief executive officer and chairman of 4Front Ventures Corp. where he helped lead the transformation of a pioneering industry consulting firm into an operations-focused multistate operator, notably with the acquisition of Cannex Capital in 2019. Prior to founding 4Front, Mr. Rosen started his career as an equity analyst at ABN AMRO and Credit Suisse and subsequently helped lead the investing arm of a large Phoenix-based family office. The company also announced resignation of Dong Shim from Board of Directors. Annuncio • Jan 06
Body and Mind Inc., Annual General Meeting, Mar 31, 2023 Body and Mind Inc., Annual General Meeting, Mar 31, 2023. Annuncio • Dec 24
Body and Mind Inc. (OTCPK:BMMJ) agreed to acquire CraftedPlants NJ, Inc. Body and Mind Inc. (OTCPK:BMMJ) agreed to acquire CraftedPlants NJ, Inc. on December 22, 2022. Annuncio • Dec 16
Body and Mind Inc. announced delayed 10-Q filing On 12/15/2022, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Nov 01
Body and Mind Inc. announced delayed annual 10-K filing On 10/31/2022, Body and Mind Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Board Change • Sep 14
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Member of Advisory Board Vitorio Stana is the most experienced director on the board, commencing their role in 2012. Independent Director Alexis Podesta was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Annuncio • Jul 27
Body and Mind Inc. announced that it has received $0.075 million in funding On July 25, 2022, Body and Mind Inc. closed the transaction. The transaction included participation from a single investor. Annuncio • Jun 15
Body and Mind Inc. announced delayed 10-Q filing On 06/14/2022, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Jun 09
Body and Mind Inc. to Report Q3, 2022 Results on Jun 20, 2022 Body and Mind Inc. announced that they will report Q3, 2022 results on Jun 20, 2022 Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Member of Advisory Board Vitorio Stana is the most experienced director on the board, commencing their role in 2012. Independent Director Alexis Podesta was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Mar 19
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: US$0.026 loss per share (down from US$0.011 loss in 2Q 2021). Revenue: US$8.05m (up 27% from 2Q 2021). Net loss: US$2.88m (loss widened 141% from 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 20
Full year 2021 earnings released: US$0.021 loss per share (vs US$0.042 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: US$25.7m (up 386% from FY 2020). Net loss: US$2.26m (loss narrowed 48% from FY 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Sep 14
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 2 experienced directors. 4 highly experienced directors. 1 independent director (4 non-independent directors). Member of Advisory Board Vitorio Stana is the most experienced director on the board, commencing their role in 2012. Independent Director Brent Reuter was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Annuncio • Jun 15
Body and Mind Inc. announced delayed 10-Q filing On 06/14/2021, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • May 07
Body and Mind Inc. Provides an Update on Construction in Ohio and Cultivation Operations in Arkansas Body and Mind Inc. provided an update on construction in Ohio and cultivation operations in Arkansas. BaM and NMG Ohio LLC have completed construction of the Ohio production facility and are in the final stages of obtaining local and state permits for operation. The production facility is located next to the Body and Mind dispensary west of Cleveland and anticipates producing a wide variety of Body and Mind branded offerings for the Ohio market. Cultivation operations are advancing in Arkansas with Comprehensive Care Group. The cultivation facility was built out in 2020 and the required cultivation equipment has recently been installed. Last month, after receiving approval to begin cultivation operations from the State, seeds were sprouted and plant growth is now underway. Arkansas is a limited license medical state with a population of over three million (2019 US Census). The State has currently approved 38 dispensaries with a total of 32 dispensaries currently open and six anticipated to open in 2021. In 2020, a ballot initiative was launched to qualify adult-use measures, however, the campaign fell short on signatures stemming from challenges around the COVID-19 pandemic. Reported Earnings • Mar 19
Second quarter 2021 earnings released: US$0.011 loss per share (vs US$0.012 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$6.32m (up 419% from 2Q 2020). Net loss: US$1.19m (loss narrowed 3.3% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 10
Body and Mind Inc. Appoints Alexis Podesta as Director Body and Mind Inc. reported that Alexis Podesta, who was instrumental in California's transition from medical to adult use cannabis, has been appointed as a director of the Company. Alexis Podesta has served in senior roles in both the public and private sector. Known for her talent to skillfully navigate complex policy and political issues, her broad portfolio has included problem-solving on high-profile policies in both government and the corporate world. Alexis was entrusted by both Governor Gavin Newsom and Governor Edmund G. Brown, Jr. to manage the sprawling California Business, Consumer Services and Housing Agency. As Secretary of the Cabinet-level Agency, she directed its $4.75 billion budget and nearly 6,100 employees. Alexis oversaw twelve departments, boards, a commission, a panel and a council whose job is to license and regulate professionals and businesses in California to protect consumers; regulate businesses engaged in financial transactions; preserve, expand and fund safe and affordable housing opportunities; to provide solutions to address homelessness in California; to investigate and research earthquake related issues to advise on ways to reduce earthquake risk; and to protect the civil rights of all Californians from acts of hate violence and unlawful discrimination in employment, housing and public accommodations. Prior to being appointed to lead the Agency, Alexis served as the Director of External and International Affairs for Governor Brown. She directed outreach, communication and partnerships with stakeholder groups, and provided key support for the Governor's special projects. In addition, Alexis was the Governor's lead representative on international affairs and served as Chief of Protocol. Most recently, Alexis was appointed by Governor Newsom to serve on the State Compensation Insurance Fund Board of Directors. Annuncio • Feb 23
Body and Mind Inc. Launches "Any Day" Flower Brand Body and Mind Inc. announced the launch of its "Any Day" branded flower in California. Any Day flower is a hand-selected, sun-grown artisanal flower cultivated in the Emerald Triangle in the heart of Humboldt County. Initial offerings consist of popular strains including Green Punch, Sour Afghani, Strawberry Banana & Ice Cream Cake. ShowGrow Long Beach and ShowGrow San Diego locations as well as select dispensaries in Southern California. Annuncio • Jan 24
Body and Mind Inc. Announces Demise of David Wenger, Director Body and Mind Inc. is saddened to report the unexpected death of director David Wenger. Annuncio • Dec 17
Body and Mind Inc. announced delayed 10-Q filing On 12/15/2020, Body and Mind Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Dec 16
Body and Mind Inc. to Report Fiscal Year 2020 Results on Dec 16, 2020 Body and Mind Inc. announced that they will report fiscal year 2020 results on Dec 16, 2020 Annuncio • Nov 25
Her Highness Cannabis Brand Now Available in Nevada Through Body and Mind Partnership Body and Mind Inc. (the Company or BaM) and Her Highness to introduce and educate women around cannabis, announced the launch of Her Highness in Nevada through their production licensing agreement. Her Highness will launch Quarantine Queen, a 20-pack of indoor-grown pre-rolls and the brand's fan-favorites Giggle and High Priestess Vape Pens. Her Highness Lip-Logo canvas totes will be complimentary with purchases at select dispensaries. Also launching in Nevada through the BaM partnership is Her Highness' Last Prisoner Project Pre-Roll collection: individual pre-roll and lighter sets that portray the moving stories of one of three women who were incarcerated due to non-violent cannabis offenses. Proceeds from the Last Prisoner Project Pre-roll collection support women with cannabis convictions who are working to be released from prison or re-entering after release. Already retailing throughout California, Her Highness is a cannabis lifestyle brand built with a goal to capture the female cannabis market. With an elevated range of thoughtfully reimagined cannabis products for enjoyment and self-care, Her Highness satisfies every woman's cannabis curiosity and craving. Annuncio • Oct 30
Body and Mind Inc. announced delayed annual 10-K filing On 10/29/2020, Body and Mind Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. 