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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (46773)	8/18/2020 8:12:33 AM
From: Goose94	Read Replies (1) \| Respond to of 202740

Delta 9 Cannabis (DN-T) Mackie Research Buy Solid Q2/20 Results Q2/20 net revenue was $13.0 mm which was higher than our $11.7 mm estimate. EBITDA for the quarter was $0.7 mm and this was lower than our $1.4 mm forecast. The EBITDA miss was largely attributable to increased G&A costs related to health and safety measures to protect customers and employees from the Covid-19 pandemic. Net income for the income was $1.4 mm ($0.01/share), which was ahead of our net loss forecast of $0.9 mm ($0.01/share). The primary reason for the earnings beat was due to an unrealized gain from changes in fair value of biological assets of $2.8 mm. We are maintaining our BUY recommendation on Delta 9 Cannabis with a target price of $1.50 per share. To arrive at our $1.50 target, we applied a 10x EV/EBITDA multiple to our 2021 estimate.