as inventory whereas without IAS41 an LP that is growing and cultivating the same market value of cannabis would not show this asset.
Paolo, without getting into the pros and cons of using IAS41, what advice would you give to your shareholders who get caught up by those on bulletin boards and other platforms who portray using standards such as IAS41 as near apocalyptic?
I think this a confusing topic for a lot of people including investors, executives, analysts and accounting practitioners. As the industry matures I think there will be better harmonization of the application of the principles surrounding IAS41 and with proper disclosures there will be a comfort in understanding the numbers coming out of IAS41. I think all participants in the cannabis industry should spend less time complaining about the standards and working towards a solution.
OK … very appreciated. I am now going to ask you the exact same question I asked Mr. Engel – OGI has signed deals for distribution in key provinces and that is cornerstone to success in the recreational market. Are there any one or two of these deals that you are significantly pleased that you closed the deal on?
I don’t think there is a province that we would publicly say is of higher value than others. What I am proud of from a public markets perspective is that we were able to get product into almost all of the provinces making us a “coast to coast” player. We are in the biggest province – Ontario but also out West in Alberta. These are markets that will only be available online. The fact that we have a dominant position in New Brunswick, PEI and Nova Scotia should help us with brand recognition out of the gate as these are markets with physical stores as well as online. I think this will help us a lot with media coverage in the infancy stages of the rec launch.
Can you give a tease with expected revenues to Aug 31? And your time to shine … why should shareholders consider OGI … as if your low market cap compared to some peer companies without meaningful revenues wasn’t enough already….?
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