MYM Nutraceuticals
Cannabis

Mym Nutraceuticals Inc (OTCMKTS:MYMMF) is Getting Set to Explode up the Charts

Back in May 2018, MYM Nutraceuticals Inc (OTCMKTS:MYMMF) was on everyone’s blacklist, falling to an all-time low of $0.77, raising doubts about its long-promised potential. However, if the happenings in recent weeks are anything to go by, the stock seems to be getting back on its feet as it has grown by over 100% since May 2018. Announcements regarding its acquisition of a large operating site of over 300 acres in Quebec, Canada and the hiring of well-respected industry legend, Casey Houweling is likely to be met with further positive reaction. In this piece, we cover the detail of the company, its latest business deals which have triggered more positive reactions, and its possible future outlook.

Take a look at the stock’s movement in the last year:

MYMMF Daily Chart

Company Profile                                                       

MYM Nutraceuticals Inc. is a development firm which has plans to acquire licenses from Health Canada permitting the sale and production of topical products and high-level organic medicinal cannabis complements. The firm is currently undertaking two production projects in Quebec which have been projected to possess over 1.5 million square feet of production space.

MYM Nutraceuticals is also an affiliate in a 1.2 million square foot production project being carried out in New South Wales, Australia.

The Australian market has been identified as underdeveloped while its market has become lucrative aided by the news that medical cannabis has recently been legalized. To guarantee a robust presence and development potential for the sector, the company is keenly pursuing opportunities to acquire associated assets and businesses in the CBD, nutraceuticals and technology sectors. The firm’s shares are currently traded in USA, Germany, and Canada.

Recent Developments

In June 2018, MYM Nutraceuticals announced to the public it had concluded the acquisition of 329 acres of land in Weedon, Quebec through its partially owned subsidiaries. The company plans to put up a 1.5 million square foot first-class medical cannabis greenhouse facility.

This large expanse of land acquired, which is already being developed, was acquired for $0.66 million. Prior to the land being purchased, it was being used as an aggregate quarry. The aggregate which is left on-site will be beneficial to the company as it will save construction costs of acquiring further aggregate material for building needs. The second benefit of using the on-site material is a reduced impact on the environment which will give value to the project’s LEED certification process.

Chief Executive Officer of MYM Nutraceuticals, Rob Gietl explained that the completion of this purchase for the Weedon project within the Easter Township section of Quebec is a huge achievement for the firm and is a major stepping stone towards the achievement of its much-lauded objective to become one of the world’s largest medical cannabis producers. He continued by stating his appreciation for Municipality of Weedon and Ferdinand Boisvert who remained supportive during the transaction and stated his pride at being a part of Weedon’s bright future with the construction of a world-class greenhouse facility.

Along with this greenhouse facility, the project will include the multipurpose CannaCentre complex, which contains a learning center, hotel, bookstore, restaurant, auditorium, museum and a cannabis research & innovation center. These projects/constructions are expected to generate revenue for the firm while doubling as a sharing center and meeting place for the purpose of cannabis research and development.

Financial Performance

At the end of 2017, the firm recorded revenues of $0.1 million, the first record of revenue since its establishment in 2014. It is estimated that in the next few years, the company will be able to move out of this growth phase and generate larger revenues from the sale of its products and services.

In the same period, operating expenses rose by 68%, a likely outcome of the increase in activity and the new revenues generated. The drop in operating loss indicated that the firm is on a journey towards full operational efficiency. It should be noted that it is a regular trend for developing companies to be unable to generate revenues while still incurring costs in the growth years.

Net loss for the year was $0.67 million, a drop from the prior year loss of $0.8 million. This was no doubt as a result of the income generated in the year.

The statement of financial position reveals that the firm is not highly geared. On its books, its total debt is worth just $0.15 million, resulting in a low debt-to-equity ratio of 0.13. It also has a very high liquidity ratio of 3.25.

Conclusion

MYMMF is in its best position since the year began and it only seems that things will go on to be better from here on.

We will be updating our subscribers as soon as we know more. For the latest updates on MYMMF, sign up below!

Disclosure: We have no position in MYMMF and have not been compensated for this article.

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Mym Nutraceuticals Inc (OTCMKTS:MYMMF) is Getting Set to Explode up the Charts
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