Growth Stalk Holdings Corp
2.2500+0.00 (+0%)
Oct 28, 4:00:00 PM EDT · OTC Markets OTCPK · GSTK · USD
Key Stats
Market Cap
57.11MP/E (TTM)
-Basic EPS (TTM)
-Dividend Yield
0%Recent Filings
10-Q
Q2 FY2022 results
Growth Stalk Holdings posted Q2 revenue of $8,900, up 48% y/y from $6,000, yet swung to a gross loss of $3,891 as cost of goods hit $12,791 for the first time, tied to cannabis growing supplies. Operating expenses climbed 42% y/y to $94,686, driven by higher salaries, legal fees, and insurance, yielding an operating loss of $98,577—wider than last year's $60,711—while net loss reached $102,091 after $4,567 in interest. For the half-year, revenue dipped 26% y/y to $11,900 amid softer administrative services, with YTD net loss at $202,050 and diluted EPS of $(0.02) on 10,028,011 weighted shares (derived), consistent with no anti-dilution from excluded convertibles. Cash ended at $67,941 after $156,653 used in operations, offset by $219,850 in borrowings that lifted notes payable to $255,450 at 10%; related-party debt cleared via $805,000 in preferred B stock. Acquisitions closed March 2022 for Phenogene (100% via 12,750,000 shares), Southbound (25% via 3,500,000 shares), and Growers (99% via 720,000 shares), all related-party deals without goodwill. Federal illegality under the Controlled Substances Act shadows operations.
10-Q
Q1 FY2022 results
Growth Stalk Holdings posted Q1 revenue of $3,000, down 70% y/y from $10,000, with gross profit at $1,861 after $1,139 in costs tied to growing supplies for cannabis products. Operating expenses ballooned to $101,005 from $11,374 y/y, driven by higher salaries, legal fees, and insurance, yielding an operating loss of $99,144 versus $1,374 last year. Net loss hit $99,959, matching operating loss as non-operating items offset to a minor $815 expense from interest. Acquisitions closed in March 2022 for Phenogene (100% via 12.75M shares, related party), Southbound Sunshine (25% via 3.5M shares, VIE consolidated), and Growers Consulting (99% via 720K shares), all stock-based without recognized goodwill. Cash dipped to $1,410 from $4,744 q/q, with operating cash use of $83,234 offset by $79,900 in financing; debt rose to $115,500 at 10% from $31,000. Free cash flow not disclosed in the 10-Q. COVID-19 lingers as a supply chain threat.
8-K
Auditor dismissal and engagement
Growth Stalk Holdings Corp. dismissed Green Growth CPAs as its independent auditor on October 3, 2022, following board approval the prior day, with no disagreements or reportable events during their February-to-October tenure. The company swiftly engaged L J Soldinger Associates, LLC as replacement, also board-approved that day, to handle reviews of outstanding quarterly forms for periods ending March and June 2022. This switch ensures continuity in financial reporting amid the firm's emerging status. No disruptions noted.
IPO
Website
Sector
Industry
CBSTF
THE CANNABIST COMPANY HOLDINGS
0.09+0.00
CURLF
Curaleaf Hldgs Inc.
2.82-0.05
FLGC
Flora Growth Corp.
11.63-0.05
GCAN
Greater Cannabis Co Inc.
0.10+0.00
GRUSF
Grown Rogue International Inc.
0.37+0.00
GTBIF
Green Thumb Industries Inc.
7.13-0.28
JUSHF
Jushi Holdings Inc.
0.66-0.04
MAJI
Marijuana Inc.
0.11+0.01
MSTH
Mystic Holdings Inc.
0.00+0.00
PLSH
PANACEA LIFE SCIENCES HLDGS INC
0.07+0.00