PSF
Cohen and Steers Select Preferred and Income Closed Fund
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Limited investment options to chose from, any thoughts
Index fund PSF: Is it a true 1:1 S&P match?
Why are companies having such a hard to scale cannabis production? (Interviews with PSF, Greenway, references Canopy and Aurora)
AMA with VFF and PSF CEO's Thursday, Jan 13, 6pm ET
Mentions
My core is growth index funds. For dividend I am currently buying UTF, UTG, EMO, PSF., PFFR I already have enough QQQI ,SPYI,and KGLD for dividends
I like VFF but their PSF team in Canada is far too top heavy with overpaid execs who think they are a high end craft company and not a good, mid-tier, value-based low cost greenhouse grower. If they can cut the fat and prove they can operate leaner, I'm all in.
>>> Industry insider here for a top 3 lubricant blender in the USA. Approximately 40% of global GTL Group 3 base oil production is offline as of 3 weeks ago due to the ongoing situation in the Middle East. This is a critical component of almost every modern motor oil, transmission fluid, PSF fluid, industrial lubricant, etc on the market. Our last shipment of GTL Group 3 base oil comes in April 7th. The blended products will start to go out the end of that week and the earliest wind-down of retail stock availability for products already in a production freeze is expected to start April 14th. The entire industry is scrambling for supply and it's being bought out, locked out, and bid up. We've got some coming from Nippon Petroleum that will force us to double prices and cut production by more than half. There will be a massive shortage of critical lubricants that will last for a minimum of 6-12 months. Major specifications and standards will be suspended and what little ends up on the shelf will be of significantly degraded quality.
there is no "deprecating soap". Its a standard without a governing body capable of deprecating it like PSF did with python 2. depending on who you ask, [PHP continues to power 75% of all server side scripting on the internet.](https://www.zenrows.com/blog/php-usage-statistics?utm_source=chatgpt.com). the fact you aren't aware of this outs you as not knowing the difference between your own ass and a hole in the ground, and thus not a source to be trusted for financial advice. just out of curiosity, what prompts someone like you to post something like this?
They have expanded and sell marijuana Internationally at a lower cost than the competition. When they sell PSF in America the stock will explode. Worth more than $5 a share currently.
Boris Johnson/Curaleaf thinks they're biggest customer of VFF/PSF [https://youtu.be/Mwdv9QMAaG0?t=1972](https://youtu.be/Mwdv9QMAaG0?t=1972) Assuming this is flower for export to Europe.
Trump is Toast. Not the PSF brand Toast. Not toasted from smoking Toast. Toast, as in irrelevant.
[More than half of all the plastics ever produced have been made since the year 2000.](https://www.plasticsoupfoundation.org/wp-content/uploads/2022/12/PSF221206_infographics_ENG01-1030x726.jpg)
Each producer is expected to produce around 7000kg per year. Current prices in Netherlands are around 10 euros a gram but this will likely drop as commercial entities start competing with each other. Let's say it settles somewhere around 7 euros ($6.6) and VFF sells it to the shops for 4 ($4.4) which luckily wont have the draconian Canadian taxes associated with it. Simple back of napkin math would then spell around $28m usd a year. With regards to your question of raising capital, this now seems relatively unlikely. PSF is quite a profitable entity and the produce section has been rightsized. Last quarter only saw -100k cash from operations. But this does not leave much room for growth capex. Make of it what you will.
> A male inmate with more than ten > years remaining to serve will be housed in at least > a **Low** security level institution unless the PSF has > been waived. > A male inmate with more than 20 years remaining to > serve will be housed in at least a **Medium** security > level institution, unless the PSF has been waived. > A male inmate with more than 30 years remaining to > serve (including non-parolable LIFE sentences) will > be housed in a **High** security level institution > unless the PSF has been waived. [Inmate Security Designation and Custody Classification](https://www.bop.gov/policy/progstat/5100_008cn.pdf)
Building more houses is 1 solution but at what price, private builders ain't gonna build something that is not profitable. The disconnect between federal and builders is unreal building cost around TO is approx $1K PSF so what do you want the builder to price these condos? We are reaching a point that young ppl are not thinking of buying and ppl already owned are not upsizing anymore. Who the hell is gonna buy in the next decade
They had a catastrophic 2022 and first half of 2023 due to impacts of Ukraine war and the following energy crisis. Produce is a low margin business so when energy prices went up threefold or more their produce section suffered tremendously (also freight costs shot up). As of last quarter they managed to right size the ship and are now also planning to expand produce production in 2024. I think they last something to the tune of $22 million in 2022 on produce. Last quarter was around break even and the announcement of upsizing their produce section leads me to believe they are confident in their return to success in this endeavour going forward. Their cannabis section is a different story. Cant do a whole writeup but Pure Sunfarms is arguably the most competitive and profitably structured cannabis operation in Canada, consistently producing solid margins, net income and operating cash flow. A report by Zuanic & associates recently provides tremendous depth on VFF and PSF - you can find it posted here on weedstocks
Thanks. I tried PSF as a ticket symbol but they didn't pull up
An extra 10 million in sales per year. PSF is going to sell flower around the world eventually.
fwiw they have a poison pill clause. no one will forcibly take them out. also, if they've turned the corner on non-adjusted profitability (they said they would be in q3), I don't see it happening. Company's been around for 30yrs and so I doubt they're letting it go at these levels. One notable idea I've seen circulated is whether a spin off of PSF makes sense to rid itself of the vegetable albatross. Who knows what's happening in the US and I see that TX will go down fighting and screaming even if the feds legalize. Literally the worst state possible (from the gov't pov) for weed.
Tilray cannot buy HITI due to federal regulations (LP directly owning retail Ops), so that's not happening. Same with Ogi as they already have strategic investor and have zero debt and close to being FCF, so they are a better company than Tilray and will most likely not sell. Pure sunfarms, maybe, but mind you, PSF is only profitable because of their current scale and Ops mgmnt (and their CEO), so unlikely that it'll happen either. There are, however, a lot of other low quality assets like Aurora and several other dying LPs that Tilray could buy to consolidate the market in Canada.
They would prolly be interested in PSF. The whole veg thing was a joke. His point being was he would do whatever it took to generate revenue. Why would they be interested in acquiring more greenhouse that they have no use for? Dont rely on anything that comes out of Boris mouth. He told that to the regulator and publicly filed it lol.
If anything they will take PSF not VFF as a whole.
Here's what I know. Cana Cabanna offers the lowest price around IF you opt into their membership (really only pushed on their website), and you don't pay for their shitty Costco style one for cheap bongs. A lot of product is just barely above cost, definitely losing money when you factor in lease, staff, insurance, pos, stock, etc. Etc.... Two thing they are doing to combat this is harvesting data and pay to display on their shelfs. Problem that arises from the latter is they tend to only have more corporate, lower quality products as a result. All of this to hopefully beat out the store across the road. The problem with the belief that they can wait out the competition and bleed out longer than they do is that the store across the road has gotten a bunch of their issues right. Yes the price is higher on PSF Pink kush, but if you want reputable brands with quality products that seems to be happening with smaller companies, ones that don't want to pay to display anywhere. Or if they do it's with their flagship product. So the store across the road IS usually pulling profit on better quality products. Not bleeding out at all AND delivering what customers who are willing to pay money actually want. I sold out of High Tide when they lost 90% of my investment. I cannot figure out ANY way they recover this money and beat out the competition who are usually actually doing well. Going after private investors it looks like they are just hoping to find more money to bleed out.
Anyone get cannstandard or hifyre data on CAD market share? Saw a comment elsewhere that February data showed VFF having 5 of the top 10 selling SKUs in February, including #1 (Fraser Valley - Donny Burger) and #2 (PSF - Pink Kush)
Can you PM or let us know how to find said PSF? Thanks!
Because these guys underwrite at $4 PSF when $2 PSF would print. So heaven forbid they can only charge $3.5 PSF
Yeah because they changed how they rank it they go back grrams sold now and PSF only sells bottom tier.
I'm not proving your point what so ever. I don't lose sleep on people not believing what I live day to day. I'm just stating the facts from the northeast region. I really don't give a shit what your thoughts are if you believe me. Sales are down 30% month over month. Monthly cancelations are over 15-17% where normal was 5 Home prices are reducing by 5% cutting into margins As they continue to decrease to meet sales goals. Well. Do the math. A 20k lumber reduction on a house doesn't cover the margin loss with sales price and PSF cost
Is this an employer-sponsored plan where you do not have any choice over the funds? If not, I would open an account elsewhere. If yes, and you want an index fund, looks like PSF Stock Index tracks the S&P 500.
You want a variable life insurance policy which will allow you to buy into collars (capped up/downside index) or other vanilla equity strategies. PSF is a closed end fun that invests in preferred and bbb+ Corp bonds it's nothing like equity index exposure.
More machine trimmed 'craft' from PSF.
Reality doesn't matter Niko. PSF investors apparently dgaf that Tribal is doing 2.5x times the volume as PSF in our store
Hang dry is cool, but it's all in the sake for "bag appeal". "Bag appeal" is a most superficial way to market weed, unless it's super, and super-looking naturally. I've had at least a dozen tropical, subsaharan, or even Mexican pure sativas that were absolutely SOARING weed, but grew flowers too "wispy" to consider growing, let alone trying to sell to the average cannabis consumer. Like wise with indicas that made buds no bigger than large vitamin tablets. But good on PSF and VFF if this is how they will differentiate themselves from the rush to $5 grams that we're seeing.
Wow must be really slow at PSF if this is all they have for a release lol. Wtf even is this?
I don't have a PSF position and I realize how fluff this sounds at first glance but as a consumer/long time plant enthusiast hang drying is a MASSIVE competitive advantage from a quality perspective. I wish more LPs did hang dry.
Also interested in if Fraser Valley is cannabalizing PSF, Fraser Valley has so far been an absolute knockout in regards to sales
While not the be-all-end-all because SG&A and stuff also exists, their gross margins are a pretty good indicator for that. Hexo's gross margin is negative VFF's PSF gross margin is 33% OGI's gross margin is 18% TLRY's gross margin is negative Auxly's gross margin is around 17% Put simply if a company has negative gross margins it better be trading at a hell of a cheap price to sales multiple otherwise simply too much needs to improve for it in order to be a viable investment, which would mean departure from "investing" and entering "speculation".
I had a similar thought. I already considered PSF a value brand, so weird to see them launch a value brand.
I was expecting a more high-end brand as PSF is already pretty budget-oriented. Management announced two new brands by 2022's end so I suppose this is the other one.
Yeah I struggle to be enthusiastic about the gain in market share for OGI for this reason. VFF is a different scenario given their (PSF's really) incredibly low cost per gram. OGI is buying market share through pricing they probably can't maintain.
It's 2nd/3rd hand info but i've heard multiple PSF people say that this is just hand-finished and not hand-trimmed. Curious to see when the truth comes out. I doubt there's even any regulations on what "hand trimmed" means though in the rec market.
I will say that CRE pricing right now is insane. When I underwrite acquisitions it’s crazy hard to get something to pencil. You basically have to assume crazy rent growth to win a deal, because everyone else is doing the same thing. I’m talking like 10-15% rent growth. On the development side - we’re seeing 25-50% hits on material pricing. It’s not just 8% inflation - lumber, plumbing, electrical, etc. is getting wicked expensive. Same with land prices. What used to trade for $4 PSF is trading for 9-10 PSF.
Do yourself a favor and go read this. Matter fact, I’ll make it easy for you. Scroll down to page 6 in this PSF since you like charts and numbers so much. https://ingoldwetrust.report/wp-content/uploads/2021/05/Pressemitteilung-In-Gold-We-Trust-2021-EN.pdf (Mind you this report was published nearly one year ago, the Fed has only further increased the money supply since then)
Misleading heading, applies to Net Income and not revenues. 2020 Net Income positively impacted by acquisition of EMH’s share of PSF. VFF’s Q4 was solid though you wouldn’t know it based on the stock price action.
So true PSF/VFF has some of the best weed.
The vegetable margins don't impact cannabis margins directly, but they do impact the company as a whole. Less than 50% of revenue is from cannabis/PSF, so the 42% margins are only half the story. As u/smokeysbf mentioned, it looks like the vegetable business had negative margins this time around, which would impact the company as a whole. I suspect that VFF intentionally left out the consolidated margin as a percentage, as it would look bad. They were included in all previous reports. I think Pure Sunfarms as a self-sustained business would be great, but obviously it's very intertwined with the rest of Village Farms. Both with their current strategy and south of the border, one day. Texas might be a good long play for them.
I believe the 42% margins were cannabis only and thus veggie margins do not impact that number. Returning to quebec, I am cautiously optimistic for VFF. They have recently started selling PSF flower in Quebec through wholesale to Rose and if they manage to repeat only half of their success in earlier provinces I also believe quebec could be #2 at year's end 2022.
PSF certainly is and VFF was the most recent earnings (w/o accounting gymnastics such as gains on convertible debt being marked lower ala Tilray).
I was taking a gander at [this one from PSF](https://ocs.ca/products/mint-infused-cbd-510-thread-cartridge-pure-sunfarms). I typically lean to the low end of the thc % spectrum, courtesy of horrible anxiety.
PSF is cheapest but it's also shit. People would pay a bit more to get something better.
Do they even grow cannabis and if so where and how many sq ft of greenhous space?? .....becuase they are buying wholesale from VFF/PSF who is Number #1 in Canada in sales in BC..ALBERTA..ONTARIO AND LOOKOUT QUEBEC .
Hemp JVs -- You are correct that our hemp growing operations are currently on hold, and have been since the first growing season in 2019 (which was very successful overall). The lack of FDA clarity around hemp-derived CBD products as growers were ramping up operations to meet what they expected to be huge demand resulted in a significant oversupply of hemp, and the price fell significantly and has remained depressed. We believe that once there is regulatory clarity, demand will improve and prices will rebound. And more importantly, it should enable those large retailers who have been on the sidelines amidst the regulatory uncertainty to move ahead with their CBD strategies. And we expect that to be a big growth driver for Balanced Health. \~ Mike PSF Single Brand - Thanks for the show of confidence in what we’re doing. We came to market intentionally with one brand, making sure we could build recognition, confidence and loyalty across the Canadian cannabis consumer landscape. And we've done extremely well. You’ve hit the nail on the head. We are actively looking at customer segmentation and new opportunities for brand extensions as well as new entry points. Just like everything we do, any decision we make in the branding space will be done carefully and with a considered approach. \~Mandesh Quebec - What’s important is that we are now in Quebec and this represents a great opportunity to grow our overall market share in Canada. As we’ve responded a few times elsewhere in the questions, we are in the process of mapping out a branded approach for the Quebec market but have already started supplying some of our BC-grown product to ROSE through a wholesale agreement, which they are distributing through some of their brands. \~Mandesh
Lots to get through here. 1. To answer your second part of this question first, many brick and mortar retailers are waiting for regulatory clarity to sell CBD. Big Box (and other) retail partnerships in the CBD category are a great opportunity for BHB / Village Farms but it is early days for this category. We have started connectivity and are in the planning stages to be a meaningful partner for these retailers when they give us the “green” light. 2. No, and there are no plans to do so at this time. 3. We have a license to both grow and process hemp in Texas. 4. Altum is actively distributing its medicinal flower brand (KIND) in Australia and continues to order from PSF, we report on any meaningful developments. With a 12% stake in Altum, we are encouraged by the progress Altum is making. The Asia Pacific is a long-term opportunity. \~ Mike 5. For strategic reasons, we don’t share our partnership playbook publicly. 6. Interesting question but for competitive reasons, we’re not going to publicly share our Quebec distribution strategies or plans. We will keep everyone up to speed as we execute in Quebec – it’s a big opportunity for us. 7. Every new initiative is a learning opportunity. We applied learnings from the conversion and ramp up of operations of D3 to D2. And similarly, we expect to apply learnings from D3 and D2 to D1, should we choose to move it to cannabis production. Two other considerations that I will add on the subject. The overall larger scale of adding D2 and, if we chose to, D1, should contribute to further efficiencies due to operating an overall larger footprint (all of which is adjacent). And D1 in and of itself could be more efficient than D2 or D3, being more than twice the area (2.8 million square feet vs.1.1 million for each of D2 and D3. I also need to add that these learnings will be just as important when we convert our US facilities to cannabis. When cannabis can be shipped across state lines, the current intra-state vertical integration model will change and the ability to produce at scale will be a significant advantage. And our experience in Canada will be a further advantage. 8. The buyback authorization is intended to be used opportunistically. We’ve heard this feedback in the past and encourage VFF investors to explore taking advantage of any trading opportunities in the stock. 9. Thanks for the question but this is not the forum for this topic. 10. Our IR consultant is named Loderock Advisors. I am grateful they suggested that Mandesh and I do this AMA. 11. This is a great question. I spend the vast majority of my time running the business but I am a huge advocate for VFF and the cannabis industry. I’m happy to speak about this passion in any format and really enjoy this AMA. Thank you for your support! Stay positive! We are aligned on realizing strong value for your investment in all the work we do to build shareholder value. \~ Mike
**If Texas legalizes but Village is still prohibited to grow because of Nasdaq and federal regulations would you consider temporarily leasing out that space to another grower at that time? Would Village be able to spinoff into a subsidiary to grow in the Texas greenhouse legally? Delisting?** We have strategies in place to deal with different scenarios based on the regulatory outcomes. \~Mike **Are the 4 greenhouse facilities in Texas broken up into a way that would be easy to convert over time like Delta 3, D2 and D1?** Yes. \~Mike What would be the order of conversion and expected cost of conversion for the first facility? The answer would depend very much on how the regulations unfold. \~Mike **What has been your favorite legislation announced thus far and which has the most traction in your eyes if any? (ie MORE, SAFE, CAOA HOPE)** SAFE – because it’s the safest bet to pass.\~Mike **I have tried a few products from CBDistillery and I'm a huge fan. (I read an article that suggests combining omega 3 fish oil pills with my CBD and it's been working wonders )** Great! \~Mike **Any update on federal clarity with regards to CBD and the opportunity of getting products into nationwide retail?** We believe it’s a huge opportunity once the FDA provides clarity – that’s when we think big retail gets involved. \~Mike **I'm curious on what steps or legislation we can support to ensure all competitors are held to the same standard that BHB follows with regards to safety and legitimacy of CBD before it become synonymous with snake oil.** Lots of CPG industries have regulations and standards but it doesn’t mean they are always adhered to. A safe, consistent product is something you have to actually execute on day-in and day-out to build a brand. Consumers can help by purchasing from companies you can trust. It’s in your best interest personally as well. And certainly buy more Balanced Health products :-) \~Mike From my U.S. American perspective with access to headset data it appears that Alberta is an extremely challenging market with competitive pricing. Will pricing become more rational this year or will our competitors continue to sell products at below their cost of production? By the way congrats to Jet Fuel Gelato on joining the top 10 in Alberta it appears to be a huge hit with consumers. At some point the musical chairs on pricing in Alberta is going to stop. Producers can only sell below their cost of production for so long. We’re already starting to see brands make adjustments upwards on some products in that province. Thanks for the congrats on Jet Fuel Gelato. We’re super excited. We think it’s going to be a top-performer in the country just like Pink Kush was. \~Mandesh **Any color on the hang drying that you mentioned on the Q3 call?** We’re excited to bring hang-drying to all of our flower, planned by Q2 of this year. We’re already starting to send some hang-dried product to market today, so consumers will no doubt notice the roll out from batch to batch. \~Mandesh **Any update on with Israel and the major opportunity there?** We’re talking to various partners in Israel. There’s a lot of demand for our everyday premium product and brand there and we see opportunity as Mike has mentioned. \~Mandesh **Any insight into the first harvests of Delta 2?** No difference from our current harvests from Delta 3. The quality and output is on par with what we’re already providing the market. \~Mandesh What are your thoughts on ‘shred’ or pre-milled flower? is it a race to the bottom? Sharing what I said before: We’ve always been looking at milled flower, since the early days. But the consumer base had to be ready for it to be successful. And we’re starting to see it now. Anytime you add new SKUs to a segment you’re already in, there’s always a risk that there might be some cannibalization. But we’re confident that we’re going to grow the bigger pie and our new milled SKU will offset any possible cannibalization. We’re prepared to understand the impacts and make some adjustments as we go, but this move will help us grow the share of overall flower for Pure Sunfarms. For us it’s not a race to the bottom, we’re already starting to see prices become normalized. \~Mandesh **I tried to purchase a few 100$ of PSF swag online last year and was unable to check out due to my US address. I'd love to be able to support Village in more ways than buying tomatoes, CBD and Bota products and loading up on shares.** We’re sorry to hear that. The regulations prevent us from shipping our merchandise outside of Canada, but we appreciate your support. \~Mandesh
When will PSF begin shipping into Quebec? How do you like the indoor growing facility?
CEO of VFF, Michael DeGiglio & President/CEO of PSF, Mendesh Dosanjh are hosting an AMA today @ 6pm ET. Be sure to get you questions in [here](https://www.reddit.com/r/weedstocks/comments/s0v0gr/ama_with_vff_and_psf_ceos_thursday_jan_13_6pm_et/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) before they go live. Have a great day!
First off, Mr. Degiglio, congrats on your first grandson and Mandesh congrats on another healthy child! I really appreciate you guys taking the time for the AMA. **Texas** 1. If Texas legalizes but Village is still prohibited to grow because of Nasdaq and federal regulations would you consider temporarily leasing out that space to another grower at that time? Would Village be able to spinoff into a subsidiary to grow in the Texas greenhouse legally? Delisting? 2. Are the 4 greenhouse facilities in Texas broken up into a way that would be easy to convert over time like Delta 3, D2 and D1? 3. What would be the order of conversion and expected cost of conversion for the first facility? 4. What has been your favorite legislation announced thus far and which has the most traction in your eyes if any? (ie MORE, SAFE, CAOA HOPE) **BHB** I have tried a few products from CBDistillery and I'm a huge fan. (I read an article that suggests combining omega 3 fish oil pills with my CBD and it's been working wonders ) 5. Any update on federal clarity with regards to CBD and the opportunity of getting products into nationwide retail? I'm curious on what steps or legislation we can support to ensure all competitors are held to the same standard that BHB follows with regards to safety and legitimacy of CBD before it become synonymous with snake oil. **PSF** 6. From my U.S. American perspective with access to headset data it appears that Alberta is an extremely challenging market with competitive pricing. Will pricing become more rational this year or will our competitors continue to sell products at below their cost of production? By the way congrats to Jet Fuel Gelato on joining the top 10 in Alberta it appears to be a huge hit with consumers. 7. Any color on the hang drying that you mentioned on the Q3 call? 8. Any update on with Israel and the major opportunity there? 9. Any insight into the first harvests of Delta 2? 10. What are your thoughts on ‘shred’ or pre-milled flower? is it a race to the bottom? 11. I tried to purchase a few 100$ of PSF swag online last year and was unable to check out due to my US address. I'd love to be able to support Village in more ways than buying tomatoes, CBD and Bota products and loading up on shares. **Random thought** App Harvest has attempted to enter the produce space this past year with newly developed greenhouses in Kentucky and promises to completely automate the cultivation and harvesting side of CEA in their new (empty) facilities They have a market cap of $400mm(down from 3.5B in February 🤯) on 500k of sales in Q3 On this metric Village should be valued at $30B+ on our $41m produce sales alone ;) I hope this doesn't keep you up at night like it does for me mike.
What has happened with the JV with Arkansas Valley Green and Gold Hemp in Colorado? What is going on with Village Fields Hemp? After substantial marketing, there is not even a tweet since November 2019. As I understand, you are waiting for regulatory clarity from FDA on extractions sold in the US but can’t these extractions be internationally exported until there is FDA clarity regarding CBD extractions sold in the US? I love the PSF branding and think PSF is the top brand in this space. However, people are trying different brands and rotating between them. Don’t you miss out on a big chunk of customers and sales when providing only one brand? I mean the PSF brand is build, isn’t it time to grab some of that runoff? Seriously, what’s up with Quebec? How can they block entry to that region for so long? What is your favorite way of consuming cannabis and what is your favorite strain?
This is posted from “w” on yahoo finance: 1. Does BHB extract in house? 2. Will BHB buy old inventory from VFH? 3. Has PSF started to sell in Quebec? 4. Do we see PSF partnering in some way with craft growers? 5. Has our GMP certificate come through ( as I think that is why they called this AMA ) and if so when should we expect first shipments and ball park figures? 6. Has Altum sold the last batch of shipment and are in need of alot more? 7. Will BHB start selling BOTA in canada ( as I tried to get a shipment but to no avail )? 8. Any word on Netherlands? 9. Hows the tomato's doing?
Hi Mike, Mandesh. Thank you for your continued efforts in evolving Village Farms and taking the time to answer our questions. 1) On the Netherlands: it seems that you have a very good shot at being a dominant force in the young Dutch cannabis space. Given that Leli Holland will be an indoor grower, do you anticipate any challenges helping them build their business given that most of your experience comes from greenhouse growing? Also, I heard you say something during the AGP fireside chat that the first revenue from this venture is expected in Q1 2023. Is this still on the table? 2) I won't dwell too long on the current state of the share price, but I do wonder: there is somewhat of a consensus that VFF's share price is at this point undervalued. Given your access to senior debt channels, would you at some point consider taking on debt to repurchase shares? 3) Would you at any point consider merging or being acquired by a tier 1 MSO? (Village Thumb, anyone?). 4) It seemed to me at first that the acquisition of ROSE LifeScience was to give PSF an entry into Quebec. Is this still on the table at some point in the future, or are you looking to build on Rose's brands itself? 5) While not a particularly good sample to base any definitive statements on, I have noticed customers complain about clogged vape carts, pre-rolls that are rolled too tightly and flower cannabis that has too much leaves left on it. I know you have invested in new pre-roll technology, are you planning to take any measures to address the other issues (if you see them as serious issues at all?). Thank you again and keep doing you! Cheers
Maybe PSF but not VFF as a whole.
Yeah, I should have phrased that differently. Their future prospect looks the best out of the LPs, which I guess isn’t saying all that much. PSF seems to be a quality subsidiary and they’re managing to gain market share last I heard. That’s a feat not many LPs can claim. Thank ya for keeping me honest
You are basing that statement on one quarters financials that still had positive gross margins. If Auxly can sell more than 30 million in a quarter they will be profitable. Its that simple. Positive gross margins is hard to come by in this industry. Net income even harder. Auxly isn’t doing any worse operation wise than Tilray or even PSF. Aurora, Canopy and on are losing hundreds of millions a quarter.
Can get PSF ounces retail in AB for ~$70 along with other budget producers. At multiple stores.
For those who want to talk quality products…do some DD, did you realize they gained this market share selling wholesale weed. There not the cultivators. Does sunens grow enough to cover all this new market share? Perhaps it’s a coincidence, but did Anyone else notice that when Auxly grew market share, VFF’s wholesale (non branded) sales jumped as well? Warning…the following theory was discovered by a dumb ape…Here’s some DD for ya, might be a coincidence, but in Bc just north of where the PSF’s greenhouse is located, there is a popular local restaurant called “The Back Forty”…if Auxly was going to enter into a supply agreement with VFF, do you think they would go and see the facility first? Could they have went for lunch at a local restaurant and talked about what they are going to name the brand? Any smooth brainers out there want to comment?
If someone does fresh DD of AMD & PSF will pay 1K each.
Not necessarily in 2022 ... A tier 1 MSO acquires VFF/PSF. A tier 1 or tier 2 MSO acquires Hexo. Tilray and one of Trulieve or AYR merge. Sundial acquires ACB. Couche Tarde acquires PLTH and starts gobbling up retail when the full vertical is killed.
I think you would want to be careful declaring this so early. The top spot has rotated very rapidly. It was CGC, then aurora, then aphria, then tilray, PSF made a big charge, then Hexo via acquisition, now Auxly getting in the mix. One common theme is that whoever gets to be the largest struggles to maintain their lead. I think we also need to make sure that a company can grow all that market share without doing so by crunching their margins.
Next Q estimation So, total cdn sales…prev qtr…a,m,j = $938,645m, this qrt…j,a,s (est 360m for sept)= $1,056,239m. Now subtract last qtr from this qtr we get $117,594m. Now multiply that by .56 (this is flower percentage) = $65,852m, then multiply that by .11 (calculate assumption PSF m/s 11%) = $7.25m. This does not include any increases in other categories. Last Qtr loss was $4.5m or .06c/sh…this may be enough to turn that to a positive per sh. If PSF sees 7.25m increase, numbers would go from $30m to $37.5m or 25% qtr over qtr
If PSF sees 7.25m increase, numbers would go from $30m to $37.5m or 25% qtr over qtr
So, total cdn sales…prev qtr…a,m,j = $938,645m, this qrt…j,a,s (est 360m for sept)= $1,056,239m. Now subtract last qtr from this qtr we get $117,594m. Now multiply that by .56 (this is flower percentage) = $65,852m, then multiply that by .11 (calculate assumption PSF m/s 11%) = $7.25m. This does not include any increases in other categories. Last Qtr loss was $4.5m or .06c/sh…this may be enough to turn that to a positive per sh.
Their pink kush was the belle of the ball this past year. It’s quality has wavered, currently I see big bag o buds filling that *it girl* status. Homestead doing well now too. I am of the belief that it’s cyclical, and I don’t think PSF holds it forever.
PSF has the lowest prices. I'd be more interested in seeing their profit margin at those prices.
repost from vff investor deck thread ysy as there was a lot of confusion about it. PSF, as a single brand, sold more flower in Ontario in June/July than any other LP including those with multiple brands (yes TLRY, ACB, HEXO, CGC, etc). It's mentioned in the deck and also in the last cc http://stocktwits.com/Linkzter/message/378767214 Will have to wait til next ER to see if that carried into the rest of q3. Hope that clarifies things.
The legacy businesses of Village Farms contribute to their ability to access senior debt channels and are assets worth in the ballpark of $300m. Furthermore, even without the produce business Pure Sunfarms is objectively a more profitable business with more market share than the entirety of $ACB or $SNDL, both of which are far bigger in terms of market cap. PSF has now had lioe their 12th consecutive quarter of positive EBITDA. For $750m Village Farms is without a doubt the best play in the cannabis space.
and I'm saying that's not correct (for flower in Ontario) given what I posted above. they are the #1 LP for dried flower in Ontario which meant PSF out sold all other LPs (combined brands) for flower in Ontario.
Yeah that’s what I mean. PSF sells more than good supply. PSF sells more than riff . PSF sells more than *insert other brand*. But PSF may not sell more than one companies combined brand portfolio.
Where do you see number 1 seller of flower. Their PSF is the number 1, but that doesn’t mean tilray combined doesn’t sell more, for example. Unless you’re quoting something else not in here.
feels like drinks are years out. glad to see them put a stake in the ground w/o a lot of capital commitment. Mandesh, CEO for PSF, has been able to do well for them coming in as an ex LCBO exec.
I honestly love everything about PSF! Their branding is amazing!
PSF is far and away the #1 in flower by a wide margin, specifically their Pink Kush. You can check [Headset](https://www.headset.io/the-best-selling-cannabis-products/ontario-flower) and see for yourself, Shred is barely cracking the top 10 in flower.
removing carbon dioxide to use in production?! ….what other grower is doing this? AND making money doing it?! NO ONE that’s WHO! I am so happy to have found VFF and to now be a Villager (VFF/PSF/BHB). Wake up to the future of cannabis folks; Its name is Village Farms International.
at one point in time it was on route to being a viable business. this was years ago, mind you. In the beginning, VFF liked their model enough to go **halfsies** with them on a massive PSF investment. ..how things have changed since then
wow. ok. lol. Can't blame em. Everyone loves that PSF pink kush. Price to gram with equal thc makes it a great deal. I dont usually buy their flower cause I consider myself a connoisseur but their gumies were of equal quality to other companies.
The budtenders at my dispensary push PSF harder than a black guy in NYC trying to sell you his mix tape.
Fell sorry for anyone who got faked out of their VFF position today. Would have had positive EPS if it wasn't for one time charge debt forgiveness and texas ice storm losses. I tried a bunch of PSF products and for the lowest price out there, the quality is decent and consistent. I like this company.
Going to have to disagree. Aside from broken coast which is fucking fantastic cannabis- riff/ and especially GS have been brutally dry,arid, and Terpless -just not up to par with some of the newer players. Like, for the mid 5-7$ / gram range I don’t see anyone really competing at scale with something like PSF (I’m not a holder) it’s not *the best* but it seems to be good value and relatively fresh product. I suspect it could be they’re unloading their vault weed. I’ve said before it’s not a perfect metric, but where they once dominates headset data, they’ve been replaced by others as of late.
It’s not perfect, but they once held several top spots for dried best sellers in Ontario - I count only one as of today (good supply royal highness), 0 top 10 in BC, and 0 top 10 in AB. Despite that they do still seem to have the highest market share so its a misleading indicator but I wouldn’t expect a magical uptick. My bet is flat or slightly down. PSF pink kush dominated dried flower last qt (still is tbh) and their last report saw a -30% drop. Who tf knows…
In hindsight- I would have rather they had bought out companies like redecan, PSF, on top of fire etc. The money they spent on their own ops that are now nothing but write downs is disappointing. Bruce got the bag, and Bruce blew thru a lot of it.
Let's hope that it's an accretive acquisition or partnership that everyone can get onboard with, and not a race to the top with more Canadian acquisitions. It's nice to see some companies making some obvious headway in the Canadian market, but I in no way want this to devolve into a pissing match between CGC, HEXO, ACB, PSF, etc.
As per the report, PSF and Redecan took top spots for dry flower in both online and brick and mortar.
They currently hold something under twenty percent. You think they will organically grow 10% market share (roughly the total market share of a PSF/hexo/canopy) without advertising *and* with more and more LP’s shooting their shot (ogen, etc). How does that happen?
PSF ounces are around $100. And pretty decent weed for the price, better than black market $100 ounces which are actually kinda sketchy sometimes when you get it, like, "how old is this shit and how was it stored, is this even safe anymore? And it never even was that good of weed to begin with (otherwise it would have been sold at a higher price, longer ago).
I am aware of that, but Pure Sunfarms itself is responsible for 50% more revenue than the entirety of Sundial. Now I'm not saying that that company isn't the dumbest thing ever but its' valuation is over a billion while PSF is arguably a better long-term hold and it's valued at a fraction of the price.
Mikey Di I love this guy, all he does is under promise and over deliver. People were concerned about their low percent increase last earnings. I was like hell they made money how is that bad in this sector. I fully expect to deploy that capital in an extremely efficient manner. VFF aka PSF is light years ahead of the curve on growing commodities. Texas had a full scale utility grid disaster this winter and VFF continued operations. I am going to roll out of APHA into GTBIF but I have no intention of selling my VFF.
Nice gains in Ontario dried flower. PSF pink kush usurped good supply long running #1 spot. But TWD indica took #2 and TWD sativa #5 Source: headset
Eh sometimes they do sometimes they don’t. I’ve had plenty of lifeless PSF stuff and some stuff that I cherish.
https://extension.psu.edu/botrytis-or-gray-mold I had two bags (out of 4 purchased, and 6 total gone through) that had obvious signs of botrytis inside the flower structure - I immediately brought them back to store and requested them to be replaced - my dumb ass told them I was happy to replace the PSF bags with different bags of the same strains. Those two replacement bags, as well as another two I have bought - were not showing symptoms of this. I bought all of what I tried from them over the course of the same month. My experience after the only time I’ve ever rejected bud I’ve gotten recreationally: This flower density was very loose to break apart, eerily reminiscent of poor quality outdoor flower. The meat on the flower simply wasn’t there, and wasn’t healthy. Although the nugs were a nice size, that meant nothing in the face of the bud structure being so poor. The flower potency in terms of THC quality was high, however these strains could not give me the desired effects - I was smoking a full king size to myself every single joint - and unable to get medicated. I would finish a king size and think to myself, “shit I need to roll another joint.” In most scenarios with high THC products, I can usually get two or three “puffs” or sessions out of a king size before I kill it, for comparison. The problem with having to do this is; this terpene profile was god awful. It tasted like shit in your mouth, and it smelled awful the more you burned it. It was almost unbearable trying to keep up with myself to stay medicated and using this flower to do it. I felt like a cigarette smoker more than I ever have huffing away at this shit to no avail and coming out with a bad taste in my mouth and an award ash&soot kind of smell on me. My absolute lowest score I’d give on entourage effect out of anything I’ve had in the rec market. I felt like I was in pain smoking it because it was all the flower I had at the time. The second time I went in to try their flower again and buy my final bags - I had to go back to the store to buy something else so I could cut it into the PSF and just to get rid of the PSF flower.
It’s like this for me: I buy a charging cable at the dollar store, and proceed to watch it become broken within a week of buying it - and I feel less scammed by that purchase than I did when I bought PSF cannabis. You want dollar store bud? Buy this shit
PSF is doing fine, it's the veggies that were hurting last Q
I’ve given away some weed, but PSF is the only weed I’ve thrown in the garbage. That was bad stuff.