News & Articles

Valuations: Why Revenues Matter...But Only Sometimes

Posted by Micah Tapman on Jul 30, 2018 2:46:19 PM

One of the black box mysteries I am often asked about is valuation of a company during an investment. As I've been preparing for a presentation I’m giving at the MJBizInt’l conference in Toronto next month, I’ve been thinking about a common aspect of the debate - the importance of revenues.

Read More

Topics: frontier markets, Investing, Analysis, valuations, valuing investments, startups

CBD: Hemp vs. Marijuana - The Data on how CBD is selling in Dispensaries

Posted by Sean Murphy on Dec 14, 2016 12:14:31 PM

The CBD sector is growing at an exponential rate. If you've walked an industry trade show recently, you've certainly noticed an increasing array of CBD-infused products, and your local dispensary has likely also stocked up. Cannabidiol—CBD—is a phytocannabinoid that has significant medical benefits, but does not make people feel “stoned” and can actually counteract the psychoactivity of THC. The fact that CBD-rich cannabis is non-psychoactive or less psychoactive than THC-dominant strains makes it an appealing option for patients looking for relief from inflammation, pain, anxiety, psychosis, seizures, spasms, and other conditions without disconcerting feelings of lethargy or dysphoria. CBD products include oils, tinctures and vaporizer kits.

Read More

Topics: Analysis, Company Info

Where to Start a Cannabis Business

Posted by Micah Tapman on Sep 20, 2016 1:49:55 PM

Good conversation today with an entrepreneur looking to get into the cannabis industry with a new startup. The first question of the conversation was one we receive a lot so let me take a few moments to post a public answer.

Read More

Topics: Entrepreneurship, Analysis

Valuation Magic: 4 Dollar Shave Club Data Points

Posted by Micah Tapman on Jul 20, 2016 5:34:49 PM

Unilever purchased Dollar Shave Club for an even one billion dollars. Let's look at four metric from publicly available data (WSJ - paywall) on the transaction.

Read More

Topics: Analysis, Investing

Is Yahoo! a Pig in Lipstick or a Unicorn in Disguise?

Posted by Micah Tapman on Jul 19, 2016 3:42:28 PM

I hold some Yahoo! stock so I've been keeping a close eye on the "auction" process currently underway. Despite the hype I still tend to believe in the underlying fundamentals of the company for several reasons, one of which was highlighted halfway through a WSJ article. Here's a quick quote:

Read More

Topics: Analysis

Investor Impact of Ohio Legalizing Medical marijuana

Posted by Micah Tapman on Jun 10, 2016 4:25:11 PM

Ohio Legalized Medical Marijuana:

The nation's 7th largest state, Ohio, just legalized medical marijuana. Not only did they legalize it, they legalized it through the legislature, not a referendum, and the law includes a number of conditions important to widespread patient adoption.

"Twenty-one ailments are included in the broad list of qualifying conditions, ranging from chronic pain to cancer to post-traumatic stress disorder to glaucoma. The inclusion of chronic pain is important, as it can help boost patient numbers dramatically." Marijuana Business Daily

Read More

Topics: Analysis, Investing