CANNA GLOBAL ACQUISITION CORP Financials
This page shows CANNA GLOBAL ACQUISITION CORP (CNGL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
CANNA GLOBAL ACQUISITION CORP passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, CANNA GLOBAL ACQUISITION CORP generates $4.37 in operating cash flow (-$1.5M OCF vs -$348K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
CANNA GLOBAL ACQUISITION CORP reported -$348K in net income in fiscal year 2023. This represents a decrease of 130.0% from the prior year.
CANNA GLOBAL ACQUISITION CORP held $743 in cash against $0 in long-term debt as of fiscal year 2023.
CANNA GLOBAL ACQUISITION CORP spent $13.7M on share buybacks in fiscal year 2023, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 93.5% from the prior year.
CNGL Income Statement
| Metric | Q1'24 | Q1'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | -$227K+13.4% | -$262K-77.5% | -$148K | N/A | -$123K | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $55K-4.9% | $58K+32.4% | $44K | N/A | N/A | N/A |
| Net Income | -$121K-111.7% | -$57K-142.4% | $135K | N/A | $931K | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A |
CNGL Balance Sheet
| Metric | Q1'24 | Q1'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Total Assets | $12.8M+2.3% | $12.5M-51.4% | $25.8M+4.6% | $24.7M-89.5% | $234.9M+0.3% | $234.1M |
| Current Assets | $272K+18.5% | $229K-31.2% | $333K+288.5% | $86K-5.0% | $90K-86.7% | $682K |
| Cash & Equivalents | $37K+4945.1% | $743-83.0% | $4K-92.0% | $54K-7.7% | $59K-89.8% | $577K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | $25K0.0% | $25K0.0% | $25K0.0% | $25K0.0% | $25K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $24.4M+2.7% | $23.7M-34.6% | $36.3M+12.2% | $32.4M-86.7% | $242.7M+0.4% | $241.8M |
| Current Liabilities | $3.8M+12.2% | $3.4M+21.0% | $2.8M+113.7% | $1.3M+996.0% | $120K-55.2% | $267K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$11.6M-3.2% | -$11.2M-6.6% | -$10.5M-36.7% | -$7.7M+2.4% | -$7.9M-3.2% | -$7.6M |
| Retained Earnings | -$11.6M-3.2% | -$11.2M-6.6% | -$10.5M-36.7% | -$7.7M+2.4% | -$7.9M-3.2% | -$7.6M |
CNGL Cash Flow Statement
| Metric | Q1'24 | Q1'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$403K-326.2% | -$95K-11.2% | -$85K+65.2% | -$245K-1163.7% | $23K+108.5% | -$272K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$89K-100.7% | $13.5M+7762.6% | -$176K | N/A | N/A | N/A |
| Financing Cash Flow | $529K+103.9% | -$13.4M-5146.7% | $265K+100.1% | -$211.4M | $0-100.0% | $234.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A |
CNGL Financial Ratios
| Metric | Q1'24 | Q1'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -0.9%-0.7pp | -0.2%-0.8pp | 0.5% | N/A | 0.4% | N/A |
| Current Ratio | 0.070.0 | 0.07-0.1 | 0.12+0.1 | 0.07-0.7 | 0.76-1.8 | 2.56 |
| Debt-to-Equity | -2.110.0 | -2.12+1.3 | -3.45+0.8 | -4.21+26.6 | -30.81+0.9 | -31.67 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$11.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.07), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is CANNA GLOBAL ACQUISITION CORP profitable?
No, CANNA GLOBAL ACQUISITION CORP (CNGL) reported a net income of -$348K in fiscal year 2023.
What is CANNA GLOBAL ACQUISITION CORP's operating cash flow?
CANNA GLOBAL ACQUISITION CORP (CNGL) generated -$1.5M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are CANNA GLOBAL ACQUISITION CORP's total assets?
CANNA GLOBAL ACQUISITION CORP (CNGL) had $12.5M in total assets as of fiscal year 2023, including both current and long-term assets.
Does CANNA GLOBAL ACQUISITION CORP buy back shares?
Yes, CANNA GLOBAL ACQUISITION CORP (CNGL) spent $13.7M on share buybacks during fiscal year 2023, returning capital to shareholders by reducing shares outstanding.
What is CANNA GLOBAL ACQUISITION CORP's current ratio?
CANNA GLOBAL ACQUISITION CORP (CNGL) had a current ratio of 0.07 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is CANNA GLOBAL ACQUISITION CORP's debt-to-equity ratio?
CANNA GLOBAL ACQUISITION CORP (CNGL) had a debt-to-equity ratio of -2.12 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CANNA GLOBAL ACQUISITION CORP's return on assets (ROA)?
CANNA GLOBAL ACQUISITION CORP (CNGL) had a return on assets of -2.8% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is CANNA GLOBAL ACQUISITION CORP's cash runway?
Based on fiscal year 2023 data, CANNA GLOBAL ACQUISITION CORP (CNGL) had $743 in cash against an annual operating cash burn of $1.5M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is CANNA GLOBAL ACQUISITION CORP's debt-to-equity ratio negative or unusual?
CANNA GLOBAL ACQUISITION CORP (CNGL) has negative shareholder equity of -$11.2M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is CANNA GLOBAL ACQUISITION CORP's Piotroski F-Score?
CANNA GLOBAL ACQUISITION CORP (CNGL) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CANNA GLOBAL ACQUISITION CORP's earnings high quality?
CANNA GLOBAL ACQUISITION CORP (CNGL) has an earnings quality ratio of 4.37x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.