Sunday, October 19, 2025

Cronos Group Doesn’t Expect To File Delayed Financials Until The End Of January 2022

It appears that money is no substitute for ability. Cronos Group (TSX: CRON) on Friday night provided its bi-weekly management cease trader order update related to its delayed financials, and it appears that the company has finally given the market insight into when its financials might actually be filed.

The Canadian cannabis firm, whom in its last financial filings indicated it had roughly $1.1 billion in cash, equivalents, and short term investments, has finally indicated that it expects to report its third quarter results by the end of January 2022, although they cannot assure this date. The filings were announced as delayed back in early November, after speculation related to a potential buyout among retail investors spread due to the delayed announcement for the release of financials.

The company is also at that time expected to file amended second quarter results for the period ended June 30, 2021, in which the company expects to record “not less than $220 million on goodwill and indefinite-lived intangible assets in its U.S. reporting unit.” This follows US$35.0 million in impairments on its US assets in early 2020, and a further $5.0 million in impairments on its Lord Jones brand. Lord Jones was acquired for US$300 million in 2019, much of which appears to be about to be written off just two years later.

Additional impairments on those assets “may” occur within the third quarter results for the period ended September 30, 2021. While impairments won’t impact cash, cash equivalents, or revenues, they do impact the firms total assets on the balance sheet.

Cronos Group last traded at $5.60 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Cronos Confirms That It Has Received Expressions Of Interest, While Curaleaf Refuses To Comment

Cronos Group (TSX: CRON) has confirmed that it has received what amounts to “a number”...

Friday, July 7, 2023, 08:37:08 AM

Cronos Group: Canaccord Reiterates Sell Rating Follow Q4 2021 Results

Yesterday, Cronos Group (TSX: CRON) reported their fourth-quarter and full-year financial results. The company reported...

Wednesday, March 2, 2022, 03:42:00 PM

Is 2020 The Year Cannabis Extractors Come Down With The Cronos Virus?

Our sharp-eyed editor Jay pointed out last week that cannabis cultivator Cronos Group Inc. (TSX:...

Sunday, March 15, 2020, 01:23:04 PM

Cronos Group: Canaccord Lifts Rating, Price Target On Q1 Earnings Beat

On May 10, Cronos Group (TSX: CRON) reported its first quarter financial results. The company...

Friday, May 13, 2022, 04:37:00 PM

Cronos Group Posts Revenues Of $12.6 Million, Net Loss Of $161.6 Million

Cronos Group (TSX: CRON) (NASDAQ: CRON) this morning reported its first quarter financial results, leaving...

Friday, May 7, 2021, 08:18:02 AM