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Last post: hubster1, 6 Jun 2024 16:57
Ah - same owner
What is happening in Stockport? So many clinics there......most odd
10% up!
More outlets opened, waiting for vape approval.
Happy Daze.
Started: Aimingtoplease, 30 May 2024 16:05
Last post: Ddug, 30 May 2024 17:31
Interesting pod cast on linkedin, Ian Mattioli and Suleman Sacranie talk of an AI doctors practise developing in the GP service. Also a coment from Ian about the weight loss position taking the country by storm, which I find intriguing.
You are under the radar at the moment and very quiet. Anything to tell us or is this as good at it gets.
Last post: Aimingtoplease, 13 May 2024 21:01
The full year report is in the last RNS above, you’ll find everything there.
Last placing was around the same time last year. They'll surely need more funds. Any opinions what their current cash balance may be?
Started: WD82, 2 May 2024 20:26
Last post: WD82, 2 May 2024 20:26
In Europe, medical cannabis and telehealth operator Kanabo saw its stock increase by over 10% following the publication of its latest annual results.
In the year ended December 31, 2023, Kanabo reported revenues of £895k, up nearly 50% from £603k year-on-year.
This included £828k of revenues from The GP Service, the telehealth service Kanabo purchased in 2022, which also reported a net loss of £1.16m during the year.
“As a Group, we are executing against our strategic plan, leveraging our pharmacy network to expand the reach of our digital health services, and expanding our medicinal cannabis product portfolio,” the company said.
It’s ‘secondary care’ operations, which cover the development and distribution of cannabis-derived medicinal and wellness products, also reported revenues of £67k.
While gross profits came in at £134k, the company reported an overall loss for the year of £7.7m ‘as a result of impairment of intangible assets and goodwill in the amount of £4.4m’.
Impairment of intangible assets and goodwill refers to the process of recognising a decrease in the value of these assets on a company’s balance sheet. Intangible assets include items such as patents, copyrights, trademarks, and goodwill, which represent the value of a company’s brand, reputation, customer relationships, and other non-physical assets.
The year also saw Kanabo raise a further £2.74m through both ‘new and existing investors’, and recoup £82k following legal action against Materia, a partner that fell into receivership in March 2023.
Looking ahead, the company says that the ‘formulation and launch of medical cannabis products remain a bedrock’, and it is currently awaiting CE approval for its VapePod MD medicinal inhaler device.
Once secured, Kanabo plans to launch the product in the booming German medical cannabis market, and is reportedly already in the process of finalising definitive distribution agreements.
Started: WD82, 1 May 2024 08:39
Last post: Gman93, 1 May 2024 13:48
Definitely progressing but hard to see past another raise. Company is poised to boom if the UK sector changes. Dan Poulter defection highlights no belief in tories NHS situation will get better. He may be well positioned now to give the advice of diversifying to other medical solutions such as what Kanabo offer.
Positive results in my view.
Products are selling, increasing reach by opening 10 more walk in clinics by the end of the year, launch of products in Germany coming soon (distribution agreement in place) and a Treat It App all sounds exciting. DYOR
Not much of a reaction form the market either way with the results, a few positives regarding money in, the net loss is down, does that included the 2.5ml funding round? Or is that included in the “cash” pot.
Thoughts on the results?
Started: Aimingtoplease, 1 May 2024 07:27
Last post: Aimingtoplease, 1 May 2024 07:27
Started: serendipity, 30 Apr 2024 12:15
Last post: Ddug, 30 Apr 2024 13:34
Let's hope Dr Dan Poulter helps this sector now that he has defected to the Labour party...
Started: samplemix1962, 15 Apr 2024 19:01
Last post: samplemix1962, 15 Apr 2024 19:01
Great update report on the Treat it clinic expansion with a bit of an update
https://businessofcannabis.com/kanabo-announces-major-expansion-its-treat-it-clinic-to-cover-mental-health-while-expanding-physical-presence/
Given the success of its initial site in Wapping, Kanabo is launched a second in-pharmacy clinic at Village Pharmacy at Bramhall, Manchester, last week, and has plans to launch ‘7 to 12 pharmacies by the end of the year’.
Friday we had c 35 trades all day, already at 100 trades in the first 30 minutes, all small trades by the look of it, No change in price pattern, same as what we’ve been seeing the last couple of weeks… but unusual activity
Started: samplemix1962, 7 Apr 2024 22:23
Last post: samplemix1962, 7 Apr 2024 22:23
Peter Hitchens even though he's against the legalisation he can see where the cannabis sectors going and the revenues that will be generated. He knows worldwide the medical cannabis market will be massive.and hopefully Kanabo can have a sizeable market share
https://youtu.be/eT2qYEJGvm8?si=IxofGFBbCH_fAlc5
Started: Ddug, 6 Apr 2024 12:54
Last post: Ddug, 6 Apr 2024 12:54
Head of Curalef Juan Martinez comented-
Martinez emphasised that telemedicine and e-prescriptions for ailments such as chronic pain were big opportunities for Curaleaf’s products, hailing the possibilities where “you can go in a telemedicine platform and in 15 minutes you have your prescription”.
https://www.ft.com/content/ecccabfc-132e-4058-ba9d-ccd22faf211e
Has anyone been able to buy at 0.016 in the last few weeks?? It’s been jumping up and down in the same range ..
CE mark is going to be transformational for the share price not long to wait now I hope as on average it takes 14 months to get.
If you watch this video from 1.30 mins Avihu explains what's required for CE Mark and the battery as highlighted by Ddug would fall into those requirements. As for the completion even we are still waiting for confirmation IMO now with the German legislation in place it will give confidence to the company and hopefully we will see the release of more news to follow that decision.
https://www.youtube.com/watch?v=8yYfhLk93tY
The vape pod will be the first of its kind with a CE mark, there are other devices with a measured dose but not CE approval. The syqe medical is CE marked but uses flower filled cartridges.
once Kanabo have CE approval they should have at least two years to build a market without any comparable alternative.
A nice position to be in IMO.
The way I read it is that the device "vape pod" has pasted the test for the CE mark but as it is a medical device which can only be used with the Kanabo carts then the carts themselves need to pass the same stringent tests.
SAFETY & QA
CCELL heating technology enables vaporisations of Kanabo’s formulas in the VapePod. In order to ensure the safety of this delivery system, tests have been made on both the carboxylated formula as well as the on the vapor produced by the device. Results determined that the same formula profile was maintained in the vapor. This demonstrates the preservation of the original composition with no new formation of materials as a result of heating.
DOSING
The VapePod is currently undergoing certification as a CE registered medical device. Dosing accuracy testing ensures that the composition of our formulas remain the same for each dose, that the same amount is provided in each dose, and that there are no toxic by-products released within the vapor.
CONSISTENCY
All of Kanabo’s formulas have been tested which resulted in determining the consistency of the composition of vapor produced by the VapePod. Cartridges were filled separately with each cannabinoid formula representing a portion of cannabinoids, naturally occurring terpenes, and an insignificant amount of ethanol. Kanabo’s formulas remained the same throughout the lifespan of the cartridge regardless of the amount of extract left in the cartridge.
Once both pod and carts are certified then they can be made available on the German market, either over the counter sales or through prescription. The good news is that now Kanabo products can be prescribed the issue of cost is resolved with patients in Germany having to pay between 5 and ten euros for their prescrition.
https://internationalcbc.com/germanys-cannabis-vape-market-likely-to-expand-rapidly/
Started: samplemix1962, 2 Apr 2024 18:00
Last post: samplemix1962, 2 Apr 2024 18:00
Started: Ddug, 2 Apr 2024 10:11
Last post: Ddug, 2 Apr 2024 10:11
Over 6 million people suffering with PTSD in Ukraine.
https://cannabishealthnews.co.uk/2024/03/28/healing-wounds-of-war-cannabis-ptsd-and-the-war-in-ukraine/
Started: samplemix1962, 31 Mar 2024 10:28
Last post: samplemix1962, 31 Mar 2024 10:28
Great report on the news from Germany that will enhance the medical cannabis sector throughout the EU and the kanabo footprint .
https://news.sky.com/video/germany-legalises-cannabis-possession-and-home-cultivation-for-personal-use-13105181
Started: Handygandhi, 25 Mar 2024 11:53
Last post: Gman93, 28 Mar 2024 12:34
Great to see some news after so long just a shame it isn't doing much to the SP. Investors eagerly awaiting to hear about CE approval tipped for Q4 23. Almost Q2 24 and no update. CE mark, improved turn over and reduced operating costs of GP service could really help boost this SP back up. Ian has been quiet since involving £500K, where is the impact? Nearly a year on.
Having done my own research, I think you could regret that trade. Not that I have a problem with HELD as KNB have a holding there, but this company has not even begun to realise its potential and with the news just in from Germany I will be holding long here. GL with HELD.
Just taken some profit here and added to the above.
When the market catches on, HELD will be the next big mover in this sector.
As always, DYOR.
Started: samplemix1962, 18 Mar 2024 10:58
Last post: samplemix1962, 25 Mar 2024 08:12
Really good to see the company have acknowledged this milestone news from Germany that adds confidence to their own business forecast . Stocks rising in the US with more anticipated good news to come with the DEA rescheduling of cannabis and if passed then im sure the UK will get on board probably a lot sooner than expected
Let’s hope the uk follows suit now
I agree, it’s been a bit quiet and SP didn’t have anything to go off, whilst this RNS doesn’t give us anything substantial at this stage it does show that there is movement. Share price has had a small positive move though which is encouraging. Hopefully the full year results along with news on the CE certificate will get this SP moving north
Very encouraging RNS and the progress made with a long term outlook about the position of the group as one of long term players and the advantages to support that. Hopefully more good news to follow
Started: samplemix1962, 11 Feb 2024 10:59
Last post: samplemix1962, 4 Mar 2024 16:49
Let's see what's in the Chancellor's budget on Wednesday hopefully some good news for the medical cannabis sector and a revenue boost to the economy.
Not in the control of KNB when CE mark is issued but I think we would know if it was a fail. Meanwhile Germany set to legalise weed on april 1st, so lets hope we have it by then as they are a big target market for the vape pod.
https://www.forbes.com/sites/dariosabaghi/2024/02/05/germanys-government-coalition-reaches-final-deal-on-cannabis-legalization/?sh=2a3855e96f6f
I feel the lack of news here is a bit disappointing. Anticipating CE approval was Q4 23 and here we are half way through Q1 24 without an update. I hope it’s not far away.
If the uk Gov does not get its act together there a risk of a supply/demand issue further down the road as the demand and awareness increases. Other countries are already upping their game and signing pre orders with the cultivators whilst some UK cultivators are contracted to ship abroad as the sector begins to hot up.
I was reading this to and found it quite a positive interesting read
Started: blacksabre, 11 Feb 2024 13:43
Last post: blacksabre, 11 Feb 2024 13:43
Trawling through news articles, came
across this last year from a wealth management consultant making an investment in Kanabo, fairly
sizeable investment :
Mattioli invests in medicinal cannabis group, £500k.
Some positive sentiment in the company!
Started: samplemix1962, 7 Feb 2024 13:13
Last post: bolland07, 10 Feb 2024 19:00
I have a buy order @1.60 on since weds, only a small punt, but couldn’t get any since
The medical cannabis sector is still in its infancy and I think the German legalisation and the US DEA rescheduling will be a big boost to the industry and we could see the start of it in the coming months. As with the share price yes it looks like its doing the full circle back to the lows of last year but those vast amount of small trades could be algorithm tricks that split up big trades whether buys or sells and keeping retail investors in limbo as to where the real value is
The drop mirrors the drop we had 12 months ago, nice rise on potential good news then a decline back to pre boost levels, can’t seem to get anything to hold this stock up. Business results should hopefully show revenue improvements which will help, there is a risk that the business need more capital to grow which could weaken the share price even further in the short term but if that capital request was off the back of the patented certificate being signed off then I think we’ve got a clear view forward. Not heard anything from Ian Mattoli since investing and joining the board.
The report from last weeks cannabis invest conference has produced optimism and highlighted the challenges on where the Medical Cannabis industry is in the UK including an input from Kanabo CEO Avihu Tamir. Maybe the reason the price has continued to fall but giving more unexpected buying opportunities at these lower levels .Lets see if a business update is released soon with signs that alls going well.
https://businessofcannabis.com/the-turning-point-is-happening-insights-from-the-6th-annual-cannabis-invest-uk-conference/.
Started: Ddug, 16 Jan 2024 16:16
Last post: Ddug, 29 Jan 2024 08:25
About time they banned disposable vapes, a rare act of responsibility on behalf of our half baked govt, and the 24292 reported sell is in fact a buy.
KNB investor presentation on wed Jan 31st, check Avihu Tamir on Linkedin.
Agree with that, that was a case of scaremongering if I didn’t see one.
I actually see this as a good thing, the single use vape market doesn’t have a great reputation and this could be creating a negative opinion on the idea of vales in general, especially with an older demographic (Kanabo target group)
single use out the way might improve confidence with reusable/ cartridge ones.
This is single use vapes not medicinal or prescription
Https://news.sky.com/story/disposable-vapes-to-be-banned-over-concerns-of-sharp-increase-in-childrens-use-13058596
Sorry for holderrs here
Looks to be a disaster
Interesting development this morning.
Whilst we await imminent approval of our CE marked measured dose Vape and also, the potential to be involved in the tender for the NHS telemedicine contract, a little ‘side hussle’ is announced, the start of a whole new ‘walk in pain management’ business, using an existing pharmacy.
Interesting that our network of pharmacies has grown to nearly 6000 following the acquisition of the GP Service a few years ago.
Started: Will9692, 9 Jan 2024 20:56
Last post: MIKODX, 12 Jan 2024 13:28
Had great difficulty averaging down today. Only way I could get in was via a Tradeplan. I've maxed it at 2.40 so hopefully I'll get in soon. I still think this stock has some legs.
This can move very quickly on low volume, expecting news on several fronts.
Best load up at these bargain prices.
https://www.linkedin.com/posts/avihut_the-herbalists-perspective-on-cannabis-activity-7149712967784153088-87MZ
But not going anywhere
Started: Tiger179, 11 Jan 2024 09:57
Last post: Aimingtoplease, 11 Jan 2024 11:43
All over Aim at the moment, trying to trigger what they can. Volumes are low so it’s blatantly obvious.
MM's up to their old tricks over at Cellular Goods now!