Annuncio • Aug 05
Orchid Ventures, Inc. announced that it has received CAD 0.074982 million in funding On August 4, 2022, Orchid Ventures, Inc. closed the transaction. The transaction included participation from single investor. Annuncio • Jul 24
Orchid Ventures, Inc. Announces Executive Changes Orchid Ventures Inc. announced it has removed Luke Hemphill as the Chief Product Officer. Luke Hemphill remains employed by the Company but is no longer in the Chief Product Officer position and is no longer an Officer of the Company effective July 1, 2022. Reported Earnings • May 10
Third quarter 2022 earnings released: US$0.008 loss per share (vs US$0.039 loss in 3Q 2021) Third quarter 2022 results: US$0.008 loss per share (up from US$0.039 loss in 3Q 2021). Revenue: US$162.6k (down 74% from 3Q 2021). Net loss: US$381.9k (loss narrowed 58% from 3Q 2021). Board Change • Mar 08
High number of new directors Independent Director Mervyn Simchowitz was the last director to join the board, commencing their role in 2021. Reported Earnings • Feb 13
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: US$0.009 loss per share (up from US$0.013 loss in 2Q 2021). Revenue: US$479.0k (down 44% from 2Q 2021). Net loss: US$413.8k (loss widened 46% from 2Q 2021). Revenue was in line with analyst estimates. Board Change • Jan 03
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Co-Founder, CEO & Chairman Corey Mangold is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Full year 2021 earnings released: US$0.11 loss per share (vs US$0.30 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$3.72m (up 157% from FY 2020). Net loss: US$3.13m (loss narrowed 52% from FY 2020). Annuncio • Sep 10
Orchid Ventures, Inc. Launches Proprietary New Technology Platform PurGuard Orchid Ventures, Inc. announces that the Company has launched it's proprietary new technology platform PurGuard, which it believes will have a significant impact on the usage of vape products by minors. Utilizing several key technologies and developing a proprietary software platform, the Company has developed an ecosystem for use in 510 thread cartridges and batteries, POD based systems, as well as disposable vaporizers. A consumer that purchases a PurGuard product, will have to verify their age through a web-based and/or mobile application that pairs with the device via Bluetooth or USB cable. The device also has an auto-lock feature that when the registered user of the device is not near the device, the device can auto-lock, eliminating the possibility of a minor using the device. This technological advancement is believed by the Company to be perhaps the biggest advancement in vaporizer safety technology in over a decade. With PurGuard products, a customer (brand) has the ability to "program" their cartridge, PODs or disposables with information from the lab reports such as brand, logo, strain name, potency, manufacture date and more. This allows users to know exactly what they are consuming when switching from cartridge to cartridge. PurGuard products will be available to cannabis and CBD companies worldwide by Winter 2021. These products will also be unveiled at MJ Biz Con in Las Vegas in mid October 2021. Annuncio • Jun 03
Orchid Ventures, Inc. Announces Purtec Delivery Systems New R1 Technology Pass Emissions Testing with Flying Colors Orchid Ventures, Inc. announced that the company has completed emissions testing with Enthalpy Analytical for their PurCore R1 510-thread cartridges and disposables. As seen in the reports (provided below), the products came back with flawless results containing no trace elements in the vapor tested against AFNOR standards, the strictest emissions standards set by the European Union. Tested compounds include Arsenic, Cadmium, Chromium, Lead, and Nickel. All PurTec products undergo the most stringent testing including emissions testing, leach testing, and dozens of manufacturing testing protocols to ensure the highest level of consumer safety. PurTec products are one of the only products on the market made entirely with FDA approved materials, ROHS and REACH standard compliant materials, and most importantly 316L medical-grade stainless steel in all heating elements. PurTec products are also free from glues and adhesives, and contain the highest quality ceramic available in vaporizers. Reported Earnings • May 30
Third quarter 2021 earnings released: US$0.039 loss per share (vs US$0.013 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$619.6k (down 1.4% from 3Q 2020). Net loss: US$914.3k (loss widened 251% from 3Q 2020). Annuncio • Apr 03
Orchid Ventures, Inc. announced that it has received CAD 4.2095 million in funding On April 1, 2021, Orchid Ventures, Inc. (CNSX:ORCD) closed the transaction. The company issued 16,838,000 units for gross proceeds of CAD 4,209,500. The company has paid eligible finders cash commission in the total amount of CAD 276,850 and also issued non-transferrable common share purchase warrants to the finders for the purchase of up to a total of 1,107,400 post consolidation shares. Each finder’s warrant will entitle the holder to purchase one post consolidation share at a price of CAD 0.25 on or before April 1, 2023. Annuncio • Apr 01
Orchid Ventures, Inc. announced that it has received CAD 0.06313 million in funding On March 31, 2021, Orchid Ventures, Inc. (CNSX:ORCD) closed the transaction. Annuncio • Mar 04
Orchid Ventures, Inc. announced that it expects to receive CAD 3.75 million in funding Orchid Ventures, Inc. (CNSX:ORCD) announced a non-brokered private placement of up to 15,000,000 units at a price of CAD $0.25 per unit for gross proceeds of up to CAD 3,750,000 on March 3, 2021. Each Unit will consist of one post-consolidation share and one-half of one transferrable common share purchase warrant. Each warrant will entitle the holder to purchase one additional post-consolidation share at a price of $0.40 for a period of 24 months from the closing of the offering. The Company may pay a finder's fee within the amount permitted by the policies of the CSE. The closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Reported Earnings • Mar 01
Second quarter 2021 earnings released: US$0.003 loss per share (vs US$0.037 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$851.8k (up US$808.3k from 2Q 2020). Net loss: US$284.4k (loss narrowed 90% from 2Q 2020). Reported Earnings • Jan 23
First quarter 2021 earnings released: EPS US$0.001 The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$1.95m (up 137% from 1Q 2020). Net income: US$97.3k (up US$2.16m from 1Q 2020). Profit margin: 5.0% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Annuncio • Jan 17
Orchid Ventures, Inc. Announces CFO Changes Orchid Ventures, Inc. announced that in October 2020, Mathew Lee, the Chief Financial Officer tendered his resignation from the company, due to his desire to pursue other opportunities. His resignation was accepted and is effective January 15, 2021. The company has since filled the CFO role, having recently hired Yousuf Jaffar, FCA who is a Chartered Accountant with thirty years of post qualification experience in corporate finance. He has worked in senior positions in the manufacturing, telecommunication and real estate industries and has vast exposure to business environments in the US, Canada, Europe and Asia. Mr. Jaffar was appointed as CFO effective January 15, 2021. Annuncio • Nov 27
Orchid Ventures Announces its Products Now Carried in Several New Key Retail Accounts Orchid Ventures, Inc. announced that it has launched its products into several new key retail accounts including SDRC in San Diego, High Times Delivery service, Sundial Collective and
Redwood Herbal Alliance in Northern California and others. The company's continued sales growth initiatives with Landrace Distribution, Orchid's contract sales agency, have continued to expand into new key retail accounts and further the company's growth into the Northern California and Bay Area markets. Orchid is also set to launch its logistics and wholesale delivery efforts with Filigreen Distribution. Annuncio • Nov 18
Orchid Ventures, Inc. Enters Sales and Distribution agreement with Landrace, LLC Orchid Ventures, Inc. announced the entering of a Sales and Distribution agreement with Landrace, LLC to handle all sales and field activities in the state of California. Orchid is excited to announce it has partnered with Landrace Distribution to handle all field sales support for the California market. The Landrace team is a highly experienced group of sales professionals with years of experience selling into the Cannabis marketplace. Annuncio • Oct 07
Orchid Ventures, Inc. Announces Launch of New Product Lines for PurTec Delivery Systems Orchid Ventures, Inc. announced that it’s hardware manufacturing subsidiary, PurTec Delivery Systems, has finalized development and testing on two new products; a disposable vape, and the most stringently tested value cartridge in the market. Both products have been through leach testing, which determines if any toxic materials or heavy metals leach into the oil put into the cart, as well as PurTec’s industry leading AFNOR standards emissions testing. An emissions test evaluates the actual vapor exiting the hardware, which is what consumers inhale. Annuncio • Sep 24
Orchid Ventures, Inc. Announces Launch of Three New Product Lines and Expanded Inventory Production ORCHID VENTURES, INC. announced that it is launching three new product lines in California and Oregon. The Orchid Brands team has been hard at work developing three news lines of vape products as the company has seen a complete rebound in vape sales since the vape scare of 2019. These products have been developed and will be positioned to appeal to different consumer segments. Firstly, there is Orchid Vibes, a value-priced product featuring a newly developed PurTec Summit cartridge and introducing more contemporary terpene profiles like Mimosa and Purple Punch. The company has also improved the Orchid Classic line up, which are mid-tier products featuring their classic Orchid Essential formulations like Jack Herer and Dutch Treat among many other terpene profiles, all available in their best-in-class Orchid hardware. Lastly, the company is introducing Orchid Gold, live resin seasonal craft strains and flavors that rotate throughout the year and are also available in their top-tier Orchid hardware. The new product lines are currently being launched into the Oregon market through an Orchid Licensee, Tine Trading Company, and in California through partnerships with contract manufacturers and the company’s evolving distribution network. Orchid California and Orchid Oregon now have produced in the last 30 days more inventory than any other single month in the previous twelve (12) months. 