Monday, September 15, 2025

Latest

Cronos Group Further Delays Filings, Reduces Prior Revenue Figures By $7.6 Million

Cronos Group (TSX: CRON) (NASDAQ: CRON) announced this evening that further to it’s previous release, the company will be delaying the release of its fiscal 2019 financial results yet again, this time until March 30, 2020. Additionally, the company has indicated that previously released financials should no longer be relied upon.

Cronos Group identified that in connection with the previously released financials for the first, second, and third quarters of 2019 that the company will also be reducing previously released revenue figures as a result of several bulk resin purchases and wholesaling agreements. The purchases, which The Deep Dive has covered at length, have the net effect of reducing Cronos first quarter revenues by $2.5 million, bringing gross revenues to an estimated $4.4 million for the quarter.

Third quarter results have also been impacted to the tune of $5.1 million, reducing the firms third quarter results from a gross figure of $13.3 million to that of an estimated $8.2 million. Collectively, the firms 2019 revenue figures are expected to decline by at least $7.6 million based on preliminary data released by Cronos Group.

Cronos Group now expects to release its fiscal 2019 results by March 30, however the company again provided no guarantee on this occurring.

Cronos Group last traded at $5.96 on the Nasdaq.


Information for this analysis was found via Sedar and Cronos Group. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Cronos Group Begins Commercial Production Of CBG Under Modified Ginkgo Agreement

Cronos Group (TSX: CRON) (NASDAQ: CRON) this morning announced that it has amended its collaboration...

Friday, June 4, 2021, 07:50:22 AM

SEC Charges Cronos Group With Accounting Fraud

Canadian cannabis company Cronos Group Inc (TSX: CRON) and its former senior executive were charged...

Monday, October 24, 2022, 05:52:17 PM

Cronos Pays OSC $1.3 Million As Penalty For Accounting Fraud, Settles SEC Charges

A Capital Markets Tribunal panel yesterday accepted a settlement agreement between the Ontario Securities Commission...

Tuesday, October 25, 2022, 11:01:00 AM

Cronos Group Posts Fourth Straight Quarter Of Gross Losses In Q3 2020

Cronos Group (TSX: CRON) (NASDAQ: CRON) this morning reported its third quarter financial results for...

Thursday, November 5, 2020, 08:19:42 AM

An Illustrated Look at Cronos Group Following their Q3 Earnings

As a follow up to our quick take this morning on Cronos Group (TSX: CRON,...

Tuesday, November 12, 2019, 08:07:31 PM