お知らせ • Jun 22
2707031 Ontario Inc. entered into a stalking-horse agreement to acquire remaining unknown stake in Fire & Flower Holdings Corp. (OTCPK:FFLW.F). 2707031 Ontario Inc. entered into a stalking-horse agreement to acquire remaining unknown stake in Fire & Flower Holdings Corp. (OTCPK:FFLW.F) on June 21, 2023. Transaction has received an approval from the Ontario Superior Court of Justice (Commercia List) (the "Court") under the Companies' Creditors Arrangement Act (the "CCAA"). FTI Consulting Canada Inc. is acting as the Court-appointed monitor of the Fire & Flower Group. New Risk • Jun 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$22m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-CA$22m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 21% per year over the past 5 years. Market cap is less than US$10m (€9.13m market cap, or US$9.81m). お知らせ • May 11
Fire & Flower Holdings Corp. to Report Q1, 2023 Results on May 15, 2023 Fire & Flower Holdings Corp. announced that they will report Q1, 2023 results Pre-Market on May 15, 2023 Reported Earnings • Mar 29
Full year 2022 earnings released: CA$2.26 loss per share (vs CA$1.89 loss in FY 2021) Full year 2022 results: CA$2.26 loss per share (further deteriorated from CA$1.89 loss in FY 2021). Revenue: CA$170.2m (down 3.0% from FY 2021). Net loss: CA$97.6m (loss widened 54% from FY 2021). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Specialty Retail industry in Germany. お知らせ • Jan 07
Fire & Flower Holdings Corp. Appoints John Chou as Chief Financial Officer Fire & Flower Holdings Corp. announced that it has appointed John Chou as the Chief Financial Officer of the Company, effective immediately. The appointment of Mr. Chou as the permanent Chief Financial Officer follows his appointment as interim Chief Financial Officer on November 21, 2022. Prior to joining Fire & Flower management as Chief Financial Officer, Mr. Chou held the position of Chief Financial Officer of The Flowr Corporation, Chief Financial Officer of Terrace Global, Vice President Finance of Gran Colombia Gold Corp. and Vice President Finance of Frontera Energy Corp. Reported Earnings • Dec 14
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: CA$43.8m (down 3.5% from 3Q 2022). Net loss: CA$28.1m (loss widened CA$26.1m from 3Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Specialty Retail industry in Germany. Board Change • Nov 16
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 Non-Executive Director Sharon Ranson was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 14
Second quarter 2023 earnings released: CA$0.48 loss per share (vs CA$0.58 profit in 2Q 2022) Second quarter 2023 results: CA$0.48 loss per share (down from CA$0.58 profit in 2Q 2022). Revenue: CA$40.7m (down 5.9% from 2Q 2022). Net loss: CA$21.6m (down 211% from profit in 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Specialty Retail industry in Germany. Board Change • Jul 28
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 Non-Executive Director Sharon Ranson was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 15
First quarter 2023 earnings released: CA$0.27 loss per share (vs CA$2.06 loss in 1Q 2022) First quarter 2023 results: CA$0.27 loss per share (up from CA$2.06 loss in 1Q 2022). Revenue: CA$40.9m (down 7.1% from 1Q 2022). Net loss: CA$9.91m (loss narrowed 84% from 1Q 2022). Over the next year, revenue is forecast to grow 13%, compared to a 9.0% growth forecast for the industry in Germany. Board Change • Jun 07
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Sharon Ranson was the last 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: Insufficient board refreshment. Reported Earnings • Apr 27
Full year 2022 earnings released: CA$1.89 loss per share (vs CA$4.54 loss in FY 2021) Full year 2022 results: CA$1.89 loss per share (up from CA$4.54 loss in FY 2021). Revenue: CA$175.5m (up 37% from FY 2021). Net loss: CA$63.6m (loss narrowed 20% from FY 2021). Over the next year, revenue is forecast to grow 12%, compared to a 13% growth forecast for the retail industry in Germany. Recent Insider Transactions • Dec 19
Chief Financial Officer recently bought €76k worth of stock On the 15th of December, Judy Adam bought around 19k shares on-market at roughly €3.95 per share. This was the largest purchase by an insider in the last 3 months. This was Judy's only on-market trade for the last 12 months. Reported Earnings • Dec 15
Third quarter 2022 earnings: Revenues miss analyst expectations Third quarter 2022 results: Revenue: CA$45.4m (up 37% from 3Q 2021). Net loss: CA$1.98m (loss narrowed 92% from 3Q 2021). Revenue missed analyst estimates by 4.5%. Over the next year, revenue is forecast to grow 31%, compared to a 17% growth forecast for the industry in Germany. Board Change • Dec 03
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. Non-Executive Director Avi Grewal is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.