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BREAKING: Spyder Cannabis Receives Approval on Development Permit for its Flagship Cannabis Store in Calgary, Alberta

  • Received approval on their development permit for a flagship retail location in the heart of Calgary
  • Spyder has now been accepted by Alberta Health Services and will begin construction in the coming weeks.
  • This brings Spyder’s total retail to 6 locations across Ontario and Alberta, this number is expected to grow over the coming months.

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Hub On AGORACOM / Read Release

Message: NVLX financial

Of note:

"Revenues from product sales for fiscal 2011 were $75,997 plus consulting revenues of $50,000 compared to $262,932 in fiscal 2010. Product sales in fiscal 2011 only occurred during the latter few months of the fiscal year, once new product liability insurance was acquired and manufacturing, sales and distribution were reinitiated. This was unlike fiscal 2010 which was replete with sales of multiple products throughout and was utilizing existing product liability insurance paid for in fiscal 2009."

and "Management notes of the total liabilities of $3,389,479, the current Freedom-2 subsidiary's liabilities are 89.3% of the liabilities or $3,025,400."

The rest of the 10-K, out today, seems to show a company in a wait and see attitude. All types of expenses are way down, good in itself but also showing a kind of mothball concern.

I'll keep watching, not buying in for now. Your DD...


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