Lotus Venture Stock Price, News & Analysis

Lotus Ventures Inc. (CSE:J, OTC:LTTSF) has launched its first cannabis product, Keylime Kush, in British Columbia. This premium-craft strain, a hybrid of Key Lime Mints and Kush Mints #11, offers high THC content and a distinctive terpene profile. Keylime Kush is available for purchase through the BC Cannabis Wholesale website and is expected to reach consumers immediately. This milestone reflects Lotus' commitment to quality and innovation. The company is expanding its market presence, having also applied for three additional product listings and utilizing business-to-business wholesale opportunities.

Lotus Ventures Inc. (CSE:J, OTC:LTTSF) appointed Albert Duwyn as Chairman of the Board as of September 30, 2022. Duwyn, an early supporter and shareholder, brings extensive experience from his leadership at IRC Building Sciences Group, where he grew the company to 170 employees and $25 million in annual sales. The company also announced approval for the new Direct Delivery program in British Columbia and celebrated its 100th harvest, averaging 65,000 grams without crop failures, showcasing its operational strength.

Lotus Ventures Inc. (CSE:J, OTC:LTTSF) announced the British Columbia General Employees' Union's decision to pause job action, allowing centralized operations at BC Cannabis Wholesale distribution centers to resume. The company applied for the Direct Delivery Program, enabling premium craft cannabis growers to sell directly to licensed retailers in BC. This program aims to diversify sales channels, enhancing access to over 350 private retailers. COO Carl Correia expressed optimism about collaborations with retailers that uphold the company's values.

Lotus Ventures Inc. (CSE:J) (OTC:LTTSF) successfully held its Annual General Meeting on August 12, 2022, in Vancouver, BC, with over 88% of shareholders endorsing all recommendations. The participation rate was notable, with 45.4% of the eligible 89,969,799 shares voted. Key approvals included the appointment of DeVisser Gray LLP as auditors and ratification of the stock option plan. The company continues to operate as a licensed cannabis producer with distribution reaching nine provinces in Canada.

Lotus Ventures Inc. announced its financial results for the nine months ending May 31, 2022, reporting revenue of $1.2 million, down from $4.2 million year-over-year. The gross margin remained at a strong 33% (after fair value adjustments: 71%), while net income was $137,000, slightly lower than $198,000 in the previous year. The company has maintained its share count at 89.9 million with no equity placements. Overall, adjustments in B2B strategy are anticipated to enhance future performance.

Lotus Ventures Inc. (OTC PINK:LTTSF) announced financial results for the six months ending February 28, 2022. Revenue decreased to $781,000 from $2.8 million YoY. Gross margin fell to 38% from 51%. The company reported positive EBITDA of $241,000, marking its fifth consecutive quarter of profitability. The production of the new cannabis strain, Tranquil Elephantizer, has commenced, yielding THC levels up to 26%. Total assets stood at $17.68 million, with no long-term liabilities. These results reflect a significant transition phase in the company's operations.

Lotus Ventures Inc. (OTC PINK:LTTSF) announces the launch of a new cannabis strain, Tranquil Elephantizer, developed in collaboration with Kolab Project. This Indica-dominant strain features THC levels up to 26% and notable terpenes like limonene and caryophyllene. Following the success of their first strain, Kalifornia, both companies aim to strengthen their presence in the Canadian adult-use cannabis market. Lotus Ventures, recognized for its premium cultivated cannabis, continues to build a robust brand reputation across Canada.

Lotus Ventures Inc. (OTC PINK: LTTSF) reported its financial results for Q1 FY2022, revealing a revenue decline to $410,000, down from $1.3 million year-over-year due to COVID-related challenges and supply chain disruptions. However, the company achieved a net income of $65,000, a significant improvement compared to the $339,000 loss in the same quarter last year. Lotus's gross margin remained robust at over 40%, attributed to its low-cost production processes. The company is expanding wholesale relationships and diversifying its product offerings, including launching a new strain and pre-rolls to enhance its market position.