HARBORSIDE INC (CSE: HBOR | OTCQX: HBORF)
Harborside Inc : A true trailblazer enjoying record growth and with massive upside.
The best businesses don’t just spring up overnight.
Generating hundreds of millions of dollars in top-line revenue?
That takes years of preparation.
Years of hard work and dedication.
Years of trailblazing, campaigning and lobbying for regulatory support.
Years of building a successful model that can be scaled up quickly to deliver outstanding profit margins.
Harborside Inc (CSE: HBOR | OTCQX: HBORF) is a cannabis stock with a difference. It has done precisely this.
This is the reason why brokers love this company and see huge upside coming.
It’s the same reason why private investors and equity funds backed the firm, investing totals of $14.65m and $26m in two separate funding rounds.
Download our EXCLUSIVE REPORT to learn how Harborside Inc was one of real pioneers of the Cannabis Revolution
A true California cannabis pioneer
HARBORSIDE INC (CSE: HBOR | OTCQX: HBORF)
Harborside (CSE: HBOR | OTCQX: HBORF) is a true pioneer in the US cannabis industry.
When it went public in 2019 the company had already generated more than $300 million in sales over its lifetime, supplying to tens of thousands of customers across California!
This was no pre-revenue, pre-profit punt. It was already a strong business, able to stand on its own two feet.
All that it needed to fulfil its true potential was an energized new commercial focus.
This came late last year with the introduction a new executive team ready to put the company on the right track, and the results have already been spectacular.
Harborside (CSE: HBOR | OTCQX: HBORF) is enjoying its best ever year — 14 years after it started helping patients get the novel treatments they needed.
But, let’s go back to the beginning first, so you can see how this came to be.
HARBORSIDE’S RETAIL FOOTPRINT IN CALIFORNIA AND OREGON
Download our EXCLUSIVE REPORT to learn how Harborside Inc was one of real pioneers of the Cannabis Revolution
A Multi-Decade Journey
HARBORSIDE INC (CSE: HBOR | OTCQX: HBORF)
Back in 2006, Harborside (CSE: HBOR | OTCQX: HBORF) was at the beginning of a multi-decade journey.
Regulators and politicians knew that cannabis did not produce the ‘Reefer Madness’ of those ridiculous, melodramatic information films designed to scare the public.
But the hammer was down on marijuana. It was illegal.
Even so, common sense was starting to prevail and, in 1996, California legalized medical cannabis through Proposition 215.
But it would take another 20 years of hard campaigning before the sale and distribution to regular folks got the same legal treatment!
Harborside (CSE: HBOR | OTCQX: HBORF) was right in the middle of this progressive activism.
Without the efforts of this company and its founders, we might have had to wait another 20 years to see the cannabis industry flourish in California.
Today, Harborside (CSE: HBOR | OTCQX: HBORF) is one of the key players in California. It has revenue and sales per square foot from its flagship retail stores on a par with the other big MSO’s.
However, shareholders aren’t just buying a profitable, vertically integrated business. They’re buying a unique and acclaimed piece of history. That’s the added value of such a storied brand.
Harborside – founded by the “Father of Legal Cannabis”
HARBORSIDE INC (CSE: HBOR | OTCQX: HBORF)
Harborside (CSE: HBOR | OTCQX: HBORF) was set up as an ethical enterprise, a not-for-profit advocate for patients who wanted and needed cannabis to treat their conditions.
Founder and Chairman Emeritus Steve D’Angelo — known as The Father of Legal Cannabis — is held up as a beacon of light in the darkness; a dedicated man, who, with his founding business partner dress wedding, campaigned for serious medical research into this wonder drug that had been used and venerated around the globe for thousands of years.
Because Harborside (CSE: HBOR | OTCQX: HBORF) had to scrap its way to the top over the previous objections of the rich and powerful, it needed discipline. It needed strong cost controls. It needed to build a model where none existed before.
And it needed an army of supporters there at every turn to back the business when times got tough.
That’s what the last decade or more has been about.
Pushing hard, every day, in an unforgiving business environment for the right to grow and sell cannabis to those who want it.
Now the hard work has been done and the proposition is simple. It’s become about simple supply and demand.
Fortunately for its shareholders, Harborside Inc (CSE: HBOR | OTCQX: HBORF) sells some of the best products available, created from the finest, highest-quality cannabis grown in California.
HARBORSIDE’S LINES OF CANNABIS PRODUCTS
So What Now?
HARBORSIDE INC (CSE: HBOR | OTCQX: HBORF)
Well, Harborside (CSE: HBOR | OTCQX: HBORF) has added into the mix the best management team that money can buy.
Over the last twelve months, the company has bolstered its executive team bringing in its Chairman, Peter Bilodeau, as CEO to lead a turnaround in profitability of the operations.
Additionally, Tom DiGiovanni was brought in as Chief Financial Officer, Greg Sutton assumed the role of Chief Operating Officer of Cultivation and Manufacturing, and Marian Robinson was hired as Vice President, Human Resources. Other key management were hired from outside or promoted from within to fill important and necessary functions.
This desire to be the best and build the best is now paying off. Big time.
Just take a look at the Q2 2020 financial results.
Gross profit was 33% higher than the previous quarter and 62% better than in the same period the year before.
Wholesale revenue 16% was up on Q1 2020, and 141% more than in Q1 2019.
These are the kinds of numbers you can post when you invite the best in the business to fine-tune the gaps.
“A PRIME EXAMPLE OF THIS IS A YEAR AGO WHEN EVERY ONE OF OUR EMPLOYEES WAS FULL TIME,” EXPLAINS PETER BILODEAU, “THERE WAS NEVER BIG ATTENTION PAID TO STAFFING BASED ON PEAK HOURS LIKE MOST RETAILERS DO. NOBODY HAD MADE THAT CHANGE TO ADAPT.”
Moving staff to a peak-hours system like Walmart and Target, along with the implementation of other headcount efficiencies at the farm, is now saving Harborside (CSE: HBOR|OTCQX:HBORF) close to $2 million a year!
That was the sort of low-hanging fruit that represented an easy fix and has made such a significant contribution to the bottom line.
It was with this new commercial focus that Harborside’s (CSE: HBOR | OTCQX: HBORF) new leadership team set about transforming one of the most venerated brands, at the epicentre of the US cannabis revolution.
Through intelligent streamlining and innovative thinking, they reorganized this company into a cash-generating machine.
Now it’s no surprise that Harborside (CSE: HBOR | OTCQX: HBORF) accounts for 2% of California’s retail cannabis market.
And there’s so much more to come.
Peter and his team have only been in place for less than 12 months. Imagine what they could do over the new few years?
For a deep dive into Harborside’s sales-focussed business model, READ OUR SPECIAL REPORT.
IMPORTANT NOTICE AND DISCLAIMER
PAID ADVERTISEMENT
This communication is a paid advertisement. ValueTheMarkets is a trading name of Digitonic Ltd, and its owners, directors, officers, employees, affiliates, agents and assigns (collectively the “Publisher”) is often paid by one or more of the profiled companies or a third party to disseminate these types of communications. In this case, the Publisher has been compensated by Harborside Inc to conduct investor awareness advertising and marketing and has paid the Publisher the equivalent of one hundred and sixty six thousand USD to produce and disseminate this and other similar articles and certain related banner advertisements. This compensation should be viewed as a major conflict with the Publisher’s ability to provide unbiased information or opinion.
CHANGES IN SHARE TRADING AND PRICE
Readers should beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you receive this communication, which has the potential to adversely affect share prices. Frequently companies profiled in our articles experience a large increase in share trading volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in share trading volume and share price may likely occur.
NO OFFER TO SELL OR BUY SECURITIES
This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security.
INFORMATION
Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position.
This communication is based on information generally available to the public and on an interview conducted with the company’s CEO, and does not contain any material, non public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher does not guarantee the accuracy or completeness of the information. Further, the information in this communication is not updated after publication and may become inaccurate or outdated. No reliance should be placed on the price or statistics information and no responsibility or liability is accepted for any error or inaccuracy. Any statements made should not be taken as an endorsement of analyst views.
NO FINANCIAL ADVICE
The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser or a financial adviser. The Publisher has no access to non-public information about publicly traded companies. The information provided is general and impersonal, and is not tailored to any particular individual’s financial situation or investment objective(s) and this communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor or a personal recommendation to deal or invest in any particular company or product. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results.
FORWARD LOOKING STATEMENTS
This communication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. Statements in this communication that look forward in time, which include everything other than historical information, are based on assumptions and estimates by our content providers and involve risks and uncertainties that may affect the profiled company’s actual results of operations. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties and other factors include, among others: the success of the profiled company’s operations; the size and growth of the market for the company’s products and services; the company’s ability to fund its capital requirements in the near term and long term; pricing pressures; changes in business strategy, practices or customer relationships; general worldwide economic and business conditions; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the company’s business.
INDEMNIFICATION/RELEASE OF LIABILITY
By reading this communication, you acknowledge that you have read and understand this disclaimer in full, and agree and accept that the Publisher provides no warranty in respect of the communication or the profiled company and accepts no liability whatsoever. You acknowledge and accept this disclaimer and that, to the greatest extent permitted under applicable law, you release and hold harmless the Publisher from any and all liability, damages, injury and adverse consequences arising from your use of this communication. You further agree that you are solely responsible for any financial outcome related to or arising from your investment decisions.
TERMS OF USE AND DISCLAIMER
By reading this communication you agree that you have reviewed and fully agree to the Terms of Use found here https://www.valuethemarkets.com/terms-conditions/ and acknowledge that you have reviewed the Disclaimer found here https://www.valuethemarkets.com/disclaimer/. If you do not agree to the Terms of Use, please contact valuethemarkets.com to discontinue receiving future communications.
INTELLECTUAL PROPERTY
All trademarks used in this communication are the property of their respective trademark holders. Other than valuethemarkets.com, the Publisher is not affiliated, connected, or associated with, and the communication is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks other than valuethemarkets.com.
AUTHORS: VALUETHEMARKETS
valuethemarkets.com and Digitonic Ltd and our affiliates are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above. This article does not provide any financial advice and is not a recommendation to deal in any securities or product. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.
ValueTheMarkets do not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above piece. ValueTheMarkets have been paid to produce this piece by the company or companies mentioned above. Digitonic Ltd, the owner of valuethemarkets.com, has been paid for the production of this piece by the company or companies mentioned above.
