27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
MediPharm Labs Corp. (TSX:LABS) (OTCQB:MEDIF) (FSE: MLZ) reported its financial results for the three months ended September 30, 2023, with a revenue of C$8.5 million. This reflects a decrease of around C$1 million sequentially but an increase of C$1.3 million over the year.
CEO David Pidduck emphasized the company's focus on margins, cost reductions and profitability, noting the strong balance sheet and improved profitability for strategic investments in revenue growth.
Q3 2023 Financial Highlights
- Gross profit of C$2.4M or 28%, positive for the fourth consecutive quarter and the highest since Q4 2019.
- Adjusted EBITDA improved to negative C$2.4M, a 53% improvement over the prior year and from negative C$3.2M in Q2 2023, driven by margin expansion initiatives and cost reductions.
- Successful integration of VIVO resulted in approximately C$7M in annualized savings, with an additional restructuring in Q3 contributing about C$3M in annualized savings from Q4 2023.
- A strong balance sheet with C$13M in cash and less than C$3 million in debt as of September 30, 2023, reflects a current cash position of approximately C$19M.
Additionally, the company settled a 'long-lasting' commercial agreement dispute receiving a total of C$9M. This includes net cash of C$7.3M collected in October, C$1M in Tilray Brands, Inc. (NASDAQ:TLRY) cannabis products, and a four-year agreement where Tilray will purchase C$0.5M of MediPharm products.
Greg Hunter, CFO of MediPharm, highlighted continued progress in Q3, emphasizing improvements in gross margins, expense reduction, and reduced cash burn toward profitability.
Price Action
MEDIF's shares were trading 2.23% down at $0.0503 per share on Tuesday afternoon.
Related News:
- New CBD & THC Cannabis Oils Now Shipping To Australia From Canada
- MediPharm Labs Breaks Free From Royalty Agreement, What It Means & What's Next
Image by PiggyBank On Unsplash
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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