OTCPK:HSDE.F

Stock Analysis Report

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Executive Summary

Harborside Inc., a vertically-integrated cannabis company, operates as a cannabis retailer in the cannabis market in California.


Snowflake Analysis

Fair value with mediocre balance sheet.

Share Price & News

How has Harborside's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HSDE.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

6.1%

HSDE.F

0.9%

US Pharmaceuticals

2.6%

US Market


1 Year Return

-77.3%

HSDE.F

12.2%

US Pharmaceuticals

15.4%

US Market

Return vs Industry: HSDE.F underperformed the US Pharmaceuticals industry which returned 12.2% over the past year.

Return vs Market: HSDE.F underperformed the US Market which returned 16.2% over the past year.


Shareholder returns

HSDE.FIndustryMarket
7 Day6.1%0.9%2.6%
30 Day8.3%3.3%6.1%
90 Day10.6%4.1%16.6%
1 Year-77.3%-77.3%15.1%12.2%17.8%15.4%
3 Yearn/a31.4%21.6%43.9%34.7%
5 Yearn/a35.2%19.6%76.2%57.3%

Price Volatility Vs. Market

How volatile is Harborside's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Harborside undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HSDE.F ($0.52) is trading below our estimate of fair value ($3.98)

Significantly Below Fair Value: HSDE.F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: HSDE.F is unprofitable, so we can't compare its PE Ratio to the US Pharmaceuticals industry average.

PE vs Market: HSDE.F is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HSDE.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: HSDE.F is good value based on its PB Ratio (1x) compared to the US Pharmaceuticals industry average (3x).


Next Steps

Future Growth

How is Harborside forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

17.7%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if HSDE.F's forecast earnings growth is above the savings rate (2.2%).

Earnings vs Market: Insufficient data to determine if HSDE.F's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HSDE.F's revenue (17.7% per year) is forecast to grow faster than the US market (9.4% per year).

High Growth Revenue: HSDE.F's revenue (17.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HSDE.F's Return on Equity is forecast to be low in 3 years time (15.2%).


Next Steps

Past Performance

How has Harborside performed over the past 5 years?

-33.7%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: HSDE.F is currently unprofitable.

Growing Profit Margin: HSDE.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if HSDE.F's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare HSDE.F's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HSDE.F is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (12.1%).


Return on Equity

High ROE: HSDE.F has a negative Return on Equity (-100.12%), as it is currently unprofitable.


Next Steps

Financial Health

How is Harborside's financial position?


Financial Position Analysis

Short Term Liabilities: HSDE.F's short term assets ($26.8M) exceed its short term liabilities ($15.9M).

Long Term Liabilities: HSDE.F's short term assets ($26.8M) exceed its long term liabilities ($17.6M).


Debt to Equity History and Analysis

Debt Level: HSDE.F's debt to equity ratio (4.2%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if HSDE.F's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Insufficient data to determine if HSDE.F has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if HSDE.F has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Harborside current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate HSDE.F's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate HSDE.F's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HSDE.F's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HSDE.F's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of HSDE.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.8yrs

Average management tenure


CEO

Peter Bilodeau (61 yo)

0.83

Tenure

US$134,720

Compensation

Mr. Peter O. Bilodeau served as President and Director at Quinsam Capital Corp. since December 22, 2017 until May 28, 2020. He serves as a President and Chief executive Officer at Foundation Markets Inc. M ...


CEO Compensation Analysis

Compensation vs Market: Peter's total compensation ($USD0.00) is below average for companies of similar size in the US market ($USD606.98K).

Compensation vs Earnings: Insufficient data to compare Peter's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Peter Bilodeau
Non-Executive Chairman & Interim CEO0.83yrUS$134.72k0.35%
$ 69.2k
Stephen DeAngelo
Co-Founder & Chairman of the Advisory Boardno datano datano data
Thomas DiGiovanni
Chief Financial Officer0.67yrno data0.011%
$ 2.2k
Greg Sutton
Chief Operating Officer0.83yrno datano data
John Nichols
General Counsel1.25yrsno data1.13%
$ 224.6k
Alexis Mora
Director of Marketingno datano datano data
Lisah Poore
Chief Retail Officer0.83yrno datano data

0.8yrs

Average Tenure

Experienced Management: HSDE.F's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Peter Bilodeau
Non-Executive Chairman & Interim CEO0.83yrUS$134.72k0.35%
$ 69.2k
Stephen DeAngelo
Co-Founder & Chairman of the Advisory Boardno datano datano data
Adam Szweras
Director1.25yrsno data0.57%
$ 113.1k
Matthew Hawkins
Independent Director1.25yrsno data2%
$ 396.9k
Sherri Altshuler
Director1.25yrsno datano data
Willie Brown
Member of Advisory Boardno datano datano data
Tracy Geldert
Independent Director1.25yrsno datano data
Nayir Munoz
Director1.25yrsno data0.91%
$ 179.7k

1.3yrs

Average Tenure

49yo

Average Age

Experienced Board: HSDE.F's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 160.4%.


Top Shareholders

Company Information

Harborside Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Harborside Inc.
  • Ticker: HSDE.F
  • Exchange: OTCPK
  • Founded: 2006
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: CA$26.472m
  • Listing Market Cap: CA$19.818m
  • Shares outstanding: 44.12m
  • Website: https://www.investharborside.com

Location

  • Harborside Inc.
  • 2100 Embarcadero
  • Suite 202
  • Oakland
  • California
  • 94606
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HSDE.FOTCPK (Pink Sheets LLC)YesSubordinate Voting SharesUSUSDJun 2019
HBORCNSX (Canadian National Stock Exchange)YesSubordinate Voting SharesCACADJun 2019

Biography

Harborside Inc., a vertically-integrated cannabis company, operates as a cannabis retailer in the cannabis market in California. It operates three dispensaries in the San Francisco Bay Area. The company wa ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/06 00:58
End of Day Share Price2020/08/05 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.