Target Group Inc.
0.0030+0.00 (+66.7%)
Oct 27, 8:00:00 PM EDT · OTC Markets OTCPK · CBDY · USD
Key Stats
Market Cap
1.85MP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
8-K
Loan maturity extended
Target Group Inc. extended its original loan from the CEO's brother via an eleventh amendment effective August 11, 2025, pushing the maturity to August 31, 2026, or earlier if demanded. This insider financing, amended ten times since December 2019, keeps all prior terms intact. The move buys time amid ongoing reliance on related-party debt.
10-Q
Q2 FY2025 results
Target Group Inc. posted Q2 FY2025 revenue of $1.2M, down 45% y/y from $2.3M yet up 38% q/q (derived), with gross profit at $745K and a 60% margin that held steady amid softer sales. Operating expenses dipped to $608K, but heavy interest charges of $514K y/y drove a net loss of $328K for the half-year, versus $473K profit last year—net trailed operating by $291K due to interest and exchange losses. Cash fell to $837K from $1.9M at year-end, with operating cash use of $86K and $1.1M in related-party debt repayments; total debt stands at $10.4M to affiliates, now due 2026. Inventory built to $977K in cannabis goods. Warrants expired without exercise. Ongoing litigation from a terminated employee poses a key risk.
10-Q
Q1 FY2025 results
Target Group Inc. posted Q1 FY2025 revenue of $1.4M, down 27% y/y from $1.9M, yet gross profit held steady at $771K with margins edging up to 55.1% from 42.2% thanks to lower cost of goods sold. Operating expenses trimmed to $617K, a 12% y/y drop, yielding an operating loss of $0 (derived) versus $111K last year; net loss narrowed to $108K from $193K, though interest charges of $251K outpaced operating results. Cash dipped to $774K amid $570K operating outflow, while free cash flow isn't disclosed in the 10-Q; related-party debt stands at $9.9M due in 2026, with $2.1M shareholder loans maturing May 2025. Inventory sits at $785K, supporting cannabis sales to 11 customers. Legal claims linger from a terminated employee.
10-K
FY2024 results
Target Group Inc. posted FY2024 revenue of $6.6 million, up 77% from $3.7 million in 2023, driven by cannabis sales through its consolidated JVCo operations after acquiring full control in April 2023; gross profit hit $3.7 million, yielding a 56% margin that held steady amid rising costs. Q4 momentum accelerated with sequential revenue growth from Q3, fueled by premium flower and extracts sold to 17 customers, while operating expenses climbed 25% yearly on higher management fees and depreciation, yet net income swung to $160,504 from a $324,000 loss. Cash from operations surged to $2.2 million, trimming the working capital deficit to $10 million, though related-party debt looms at $9.9 million with maturities in 2025. No annual guidance disclosed. Cannabis remains illegal under U.S. federal law.
10-Q
Q3 FY2024 results
Target Group Inc. posted Q3 revenue of $541,113, down 48.3% y/y from $1,046,227 yet up sharply q/q amid shipment delays to Israel, while nine-month sales hit $4.7M, more than doubling y/y from $1.8M on full JVCo consolidation. Gross profit held at 68.0% of revenue, but operating expenses edged to $606K from $648K y/y, yielding an operating loss of $238K versus $57K last year; net loss widened to $529K from $357K, driven by $268K interest charges on related-party debt. Cash climbed to $1.3M from $0.7M year-start, with operating cash flow at $1.4M versus a $0.9M use last year, though free cash flow not disclosed in the 10-Q. Related-party debt totals $10.5M at rates up to 43%, extended to May 2025; liquidity strains persist with a $10.9M working capital deficit. JVCo integration boosted inventory to $1.0M. Regulatory hurdles in cannabis licensing loom large.
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