SpeakEasy Cannabis Club, a cannabis stock to watch, with increasing revenues – Will it go higher?

SpeakEasy Cannabis Club, a cannabis stock to watch, with increasing revenues – Will it go higher?

SpeakEasy Cannabis Club SPBBF stock has the potential to go up. SpeakEasy has started to print revenues and they declared a profit for Q2, 2021. SpeakEasy Cannabis has some $15M in inventory remaining but are gearing up to double cannabis biological output to 140,000 kilos for this year’s crop (To be harvested in October). This could push revenues up to C$35M for 2022. Given a modest margin outlook this will translate to about $3M in net earnings for SpeakEasy Cannabis Club. SPBBF stock should move higher up some 100% to about $1.00; SPBBF stock is currently at $0.49 per share. With the $3M in profits this will translate to ~5.5% yield for an investor buying SPBBF stock at this price.

However, I question some of the numbers that management has printed. Specifically, SpeakEasy Cannabis Club had revenues of some $725k off of 502K kilos of product sold. There were gross profits of $650K but operating costs of $1.8M. Somehow, with 150M shares outstanding, $1.5M in profits were printed bringing in $0.01 EPS. But, these numbers simply do not add up despite this being the press release information.

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