EMPOWER CLINICS INC Forum: Community User: Bboy

Net loss for Q4 and full year 2020 were $15,685,996 and $17,066,311, respectively, compared to Q4 and full year 2019 net loss of $1,942,084 and $4,301,663, respectively. This increase over prior year is primarily attributable to the loss on change in fair value recognized on the warrant liability which resulted from the significant increase in the Company’s share price and therefore the value of the warrants exercisable. During the year ended December 31, 2020, the Company used $1,749,818 in cash from operations after changes in non-cash working capital. The Company invested $309,994 and raised $6,770,483 via proceeds from various issuances of shares and exercise of warrants and stock options, partially offset by lease payment and repayments of loans and notes payable. Please refer to the Company's audited consolidated financial statements, related notes and accompanying Management Discussion and Analysis for a full review of the operations.

Financial Performance As part of total revenues, clinic services revenues for Q4 and full year 2020 were $848,190 and $3,154,301, respectively, compared to Q4 and full year 2019 revenues of $542,677 and $1,949,549, respectively. This increase over prior year is attributable to the impact of COVID-19, along with the acquisition of Kai on October 5, 2020, partially offset by the reduction in patients visiting the Sun Valley Health clinics as a result of State legalization of cannabis in November 2020. Direct clinic expenses for Q4 and full year 2020 were $434,937 and $1,193,560, respectively, compared to Q4 and full year 2019 direct clinic expenses of $615,814 and $826,276, respectively. This increase over prior year is attributable to the reduction in patients visiting the Sun Valley Health clinics as a result of State legalization of cannabis in November 2020. Loss from operations for Q4 and full year 2020 were $3,086,625 and $4,489,427, respectively, compared to Q4 and full year 2019 loss of $3,603,938 and $6,151,214, respectively. This decrease from prior year is primarily attributable to the increase in clinic services revenues, offset by the reduction in goodwill impairment as 2019 included a charge to impair Sun Valley clinics as a result of State legalization of cannabis in November 2020 which adversely impacted the profitability of the Sun Valley operation.

Recent Highlights Subsequent to Year End COVID-19 Testing: In June 2021, the Company entered into a six-month pilot program with PharmaChoice to sell Kai Care saliva test kits. PharmaChoice is a fast growing, independently owned Canadian Pharmacy network with more than 900 locations covering the PharmaChoice and RxHealthMed brands. Financing: The Company brought in $5,776,335 resulting from the exercise of warrants and stock options. Debt Repayment: In Q1 2021, the Company paid off in full certain secured loans and promissory notes in the amount of $1,353,188. Acquisitions: In June 2021, the Company signed a non-binding term sheet to acquire Medisure + Sure Canada Inc. who are a leading Canadian manufacture of medical devices for patients managing diabetes.

Für ein Auto reichen meine 13500 Anteile wahrscheinlich nicht 😂😂🙈

2020 Highlights all financial results reported as USD$ Total revenues at $3,209,196 for FY2020 compared to FY2019 revenues $2,031,581, representing 58% year over year growth. Operating costs lowered to $4,489,427 for FY2020 from $6,151,214 for FY2019, representing a reduction by 27%. Net loss of $17,066,311 of $0.09 per share compared to $4,301,663 or $0.04 per share for FY2019, which was primarily driven by a non-cash loss on the fair value adjustment related to the Company’s warrants outstanding that were impacted by the significant appreciation of the Company’s share price (a key input in determining the fair value). Cash at December 31, 2020 of $4,889,824, compared to cash of $179,152 at December 31, 2019, which increase was primarily driven by the proceeds generated on exercise of share purchase warrants. Cash used in operating activities was $1,749,818 or $0.01 per share, compared to $2,273,188 or $0.02 per share for fiscal 2019. In October 2020, the Company acquired Kai Medical Laboratory, LLC, which operates a high-complexity CLIA and COLA accredited laboratory that provides reliable and accurate testing solutions to hospitals, medical clinics, pharmacies, and employer groups. On December 31, 2020, the Company acquired Lawrence Park Health and Wellness Clinics Inc and Atkinson Clinic, which operate multidisciplinary health clinics in the Greater Toronto Area, Ontario.

CSE: CBDT     |     OTC: EPWCF     |     FRA: 8EC    Empower Clinics Reports Record Revenue and Fiscal 2020 Results 58% Year over Year Revenue Growth and Operating Loss reduced by 27%   VANCOUVER B.C.: June 30, 2021 – EMPOWER CLINICS INC. (CSE: CBDT) (OTC: EPWCF) (Frankfurt 8EC) (“Empower” or the “Company”) has filed today its audited consolidated financial statements and related management’s discussion and analysis, both of which are available at www.SEDAR.com. All financial information in this press release is reported in United States dollars, unless otherwise indicated.   "2020 presented our Company with unexpected challenges, yet through the pandemic, we discovered and experienced growth. Among other initiatives, we were able to expand the impact of our integrated health model through a successful pivot towards the COVID testing space through our acquisition of Kai Medical Laboratory and our big step into the Canadian healthcare market with the acquisition of Lawrence Park and Atkinson clinics." said Steven McAuley, Chairman and CEO of Empower Clinics. "I look forward to the year ahead as we continue to expand the portfolio of direct-to-consumer testing products through Kai Medical and the Kai Care brand. Finally, I am so encouraged by our partnerships with best-in-market brands in the pharmacy and airlines industries as well as securing additional reputable clients and acquisitions for our future growth”. 

Soweit so gut... nächster step Q1 21... denke da wird ordentlich was gehen die tage...

@Börsenguruu.. ich werde mir auf jeden Fall detailliert die Warrants anschauen. Da mich die Akteinanzahl immer sehr sehr interessiert. Evtl. Musst du da nicht so stark draufschauen. VG

Oder nächstes Jahr einen Familienurlaub neues Auto 🥳

Na endlich!! Jetzt noch Q1 as soon as possible, hopefully gepaart mit 1,2 weiteren News und es geht hoch. Werde mir die Zahlen die Tage mal genauer anschauen.

Ich bin grad ein bisschen...🥳🥳🥳🥳 ich hoffe, Empower ermöglicht mir und meinen Kindern einen schönen Urlaub dieses Jahr 🙈

Ich habs jetzt mal grob überflogen, aber für Q4 muss ich sagen bin ich glücklich mit dem Ergebnis... Muss es mir nach der Arbeit aber nochmal genauer anschauen. Die nächsten Quartale werden mit großer Wahrscheinlichkeit noch besser

Hat damit jemand gerechnet in Quartal 4? Wie sehen dann die aktuellen Quartale aus? :)

Verdammte Axt, endlich ist das Thema durch

Hat sich das warten gelohnt :)

Na also... da sind sie für Q4 2020...