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Company Overview:

Invictus has partnered with business leaders to convey our corporate vision, including KISS music legend and business mogul Gene Simmons as our Chief Evangelist Officer. To meet growing demand, Invictus is expanding its cultivation footprint, with three cannabis production facilities licensed under the Cannabis Act and Cannabis Regulations in Canada. To accommodate international sales, Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd., has designed and is currently in the final stages of building its Phase 3 purpose-built cultivation facility to be European Union Good Manufacturing Practices compliant. The Company is targeting up to 50 percent of production to medical cannabis. To ensure consistency in quality and supply, Invictus maintains all aspects of the growing process through its subsidiary, Future Harvest Development Ltd., a high-quality fertilizer and nutrients manufacturer. Invictus drives sustainable long-term shareholder value through a diversified product portfolio with over 70 Health Canada approved strains and a multifaceted distribution strategy including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores.

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Key Share Information:

Current Share Price#N/A
Market Capitalization (in Millions)#N/A
Last Quarter (Share Data)1/31/2019
Shares Outstanding (in Millions)120.06
Options (in Millions)11.75
Warrants (in Millions)5.75
Fully Diluted (in Millions)137.55

Enterprise Value#N/A
TTM Revenue$8.20
TTM Growth Margin %33.77%
TTM Operating Expenses$54.36
TTM OCF-$14.69
P/S TTM#N/A
P/S (Last Quarter Run Rate)#N/A

Key Balance Sheet Information (in Millions $CAD):

CYQ1'17CYQ2'17CYQ3'17CYQ4'17CYQ1'18CYQ2'18CYQ3'18CYQ4'18CYQ1'19
Cash0.464.4128.6326.3337.5919.4510.6723.779.83
Biological Assets0.260.180.150.060.240.31
Inventory0.550.640.651.192.302.682.962.613.28
Total Assets20.0576.9692.7892.37115.45118.53117.36144.74153.91
Net Tangible Assets18.8924.0647.3146.7460.8255.7156.9083.6686.03
Intangibles/Goodwill1.1652.9045.4745.6354.6362.8360.4661.0867.87
Total Liabilities2.421.290.5411.1512.6111.5913.7823.9436.74

Key Operating Items (Quarterly in Millions $CAD):

CYQ1'17CYQ2'17CYQ3'17CYQ4'17CYQ1'18CYQ2'18CYQ3'18CYQ4'18CYQ1'19
Revenue$2.55$0.49$0.57$0.62$2.36$1.30$0.46$1.74$4.69
Change in Fair Value of Biologial Assets$0.70$1.31$0.34-$0.02-0.401.61
Gross Margin$0.99$0.06$0.09$1.04$1.66$0.56$0.160.531.51
Marketing and Sales$0.50$0.69$0.83$0.36$2.75$0.99$1.495.6314.45
Investor Relations$0.02$0.01
Total Operating Expenses$6.33$6.22$2.54$2.61$20.70$3.47$6.3311.2633.30
Operating Cash Flow (Quarterly)-$2.50-$2.36-$3.72-$0.19-$4.61-2.54-7.53
Investing Cash Flow (Quarterly)-$8.83-$2.04-$0.44$0.59-$8.03-14.33-12.87
Financing Cash Flow (Quarterly)$11.56$25.62$1.86$13.87$3.8629.986.45

Listing Statement

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