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With only six stocks having no returns in the September quarter, most of the Aussie pot stocks have started to make money. Also, with an active interest in the medical cannabis field of the 28 ASX-listed companies, there are 19 with their business operations which are largely based around marijuana. Starting to attract heavy-duty investors, are the early green shoots of revenue.
Though founder of Israeli pot private equity investor iCan, Saul Kaye says since the global cannabis market is potentially so large, revenue is not as important right now as growth. On the possible size of Australian and global marijuana markets of a large number of reports speculating, Prohibition Partners suggested that locally it could be worth as much as $1.2b a year by 2024, this week and four years later to $3b.Â
Auscann Group Holdings Limited (ASX:AC8) reported no receipts with operating cash flow of ($2) million and had cash in bank of $33.7 million in the pharma sector. The company has announced it has appointed TGA licensed PCI Pharma to manufacture and release its first medicinal cannabis product line, its proprietary solid hard-shell capsules for the treatment of chronic pain. These products are scheduled for release in H1 2019. The share price of Auscann closed at $0.800 as at November 13, 2018.
Medlab Clinical Limited (ASX:MDC) whose 33 different pills, sachets and, mouth sprays deliver about three-quarters of total revenue, was the only biotech to post any receipts which were attributed to its non-marijuana nutraceutical arm. Biotechs or pharmaceuticals companies were four of the companies that reported no receipts. Biotechs, as they develop and test the drugs, they hope will eventually make them a fortune tend to be pre-revenue like mineral explorers. The share price of Medlab closed at $0.385 as at November 13, 2018.
The Hydroponics Company Limited (ASX:THC) as it waits on the last of its cannabis licenses from the Office of Drug Control, is in fact, making money from equipment sales. THC Global is currently importing four products from Endocaâs range, being its Endocaâs unique CBD + CBDa oils also in 3% and 15% concentrations and CBD oil in 3% and 15% concentrations. The share price of THC closed at $0.540 as at November 13, 2018.
Cann Group Limited (ASX:CAN) With growing facilities, a research center and a manufacturing arm, Cann is focused on building the backend of an Aussie pot empire as it sells a small amount of cannabis resin to the Victorian Department of Health and Human Services which is planning to turn it into a product for children with severe epilepsy. The share price of Cann closed at $2.650 as at November 13, 2018.
Creso Pharma Limited (ASX:CPH) is making its money in Europe out of nutraceutical sales. Reported receipts of $170,000 with operating cash flow of ($2.6) million and had cash in bank of $10.2 million in the lifestyle sector. The company has announced that it has commenced the importation and sale of its medicinal cannabis product, cannaQIX®50 to patients in Brazil through its importation representative partner MedDepot Brasil. The share price of Creso closed at $0.455 as at November 13, 2018.
Revenue of AC8, CAN, MDC, CPH and THC, Source: Thomson Reuters.
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