Sometimes, you just have to let the numbers speak for themselves. With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for … but then these numbers came in for the first two quarters:
Revenues $USD 1.7M vs $745,000 = 130% Gain
Patient Visits 12,400 vs 5,500 = 125% Gain
CBDT has now delivered growth in 4 successive financial reports (Q4, FY 2019, Q1 and Q2), so it is safe to say that superstar CEO Steve McAuley can officially claim victory on the turnaround he inherited in 2019.
But he is far from done.
CBDT also just announced the potential acquisition of an 8,000 sq ft lab in Dallas (they do everything big over there) that can process 2,000 COVID-19 tests per 8 hour shift. At an average price of ~ $USD 90 per test, the clinic could represent $USD 180,000 in revenue PER SHIFT. However, until this acquisition closes, we’re not going to focus on it too much – but that could happen as early as next week.
Moreover, CBDT has to actually fill that capacity, which McAuley says he is working on right now with some enterprise sized discussions taking place as we write. Can he pull it off? First consider what he has already accomplished after inheriting a catastrophe of a company. Secondly, McAuley, is Six Sigma certified under the quality initiative of legendary GE (General Electric) Chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history and turn it into significant growth … and gives us optimism about this acquisition.