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Saturday, November 28, 2020

Is MPX Bioceutical Corp (OTCMKTS:MPXEF) Beginning to Play Catch Up?

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It pays to keep track of the progress going on at MPX Bioceutical Corp (OTCMKTS:MPXEF) right now. This has been a somewhat under-the-radar play in the cannabis space, but has started to make some waves of late, announcing total revenues of $14.5 million for the fiscal first quarter of 2019 versus $4.5 million for the fiscal first quarter of 2018 up 224%. “We recorded another quarter of strong topline results, with revenue increasing $10 million year over year, to a record of $14.5 million, driven by the strong performance of our Arizona operations,” said W. Scott Boyes, Chairman, President and CEO of MPX.

“Our recent acquisitions within the State of Arizona, the expanded distribution capabilities for our MPX and Timeless wholesale brands, as well as the sales growth at our Health for Life retail dispensaries have significantly strengthened our results. We are thrilled with the continued success of our Arizona operations as we execute on our strategy to replicate this business model within our other markets, including Maryland, Massachusetts, Nevada and Canada, as well as signing an extraction agreement that expands our distribution network throughout California. We are making solid progress pursuing state licenses, establishing strong management structures and growing the reputation of both our wholesale and retail brands. By expanding our footprint in multiple states, we are laying the foundation to achieve future revenue growth while driving value for shareholders.”

MPX Bioceutical Corp (OTCMKTS: MPXEF) is a multi-state diversified cannabis company with operations focused in the U.S. in the adult use and medical cannabis markets.

The company’s foundation is built on its profitable operations in Arizona, with three (and soon four), operating dispensaries and well the established Melting Point Extracts (MPX) Brand; it also has operations in Massachusetts, Maryland, and Nevada.

MPX Bioceutical Corporation plans to replicate its success in Arizona to become a dominant multi-state operator.

MPX Bioceutical Corporation, together with its subsidiaries, operates in the natural health products industry in North America. The company manufactures and distributes nutraceuticals, such as plant-based medicines. It also provides management, staffing, procurement, advisory, financial, real estate rental, logistics, and administrative services to medicinal cannabis enterprises. The company was formerly known as The Canadian Bioceutical Corporation and changed its name to MPX Bioceutical Corporation in November 2017. MPX Bioceutical Corporation was incorporated in 1974 and is based in Toronto, Canada.

According to company materials, “MPX, an Ontario corporation, through its wholly owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area.  With the acquisition of The Holistic Center, MPX adds another operating medical cannabis enterprise to its footprint in Arizona. MPX continues to expand its U.S. footprint, and is providing operational and other management services to three dispensaries and one production license in Maryland.  The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.”

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As discussed above, the company has started to post some very strong growth and shares are reacting. The chart shows 27% added to share values of the listing over the past month of action. In addition, the company has witnessed a pop in interest, as transaction volume levels have recently pushed greater than 270% over the long run average.

Beth Stavola, COO of MPX, added, “After strong growth in fiscal 2018, our momentum continues to build as we enter into fiscal 2019. We continue to execute upon the strategic expansion of our geographic footprint, with expanded operational capabilities to meet the demand for both medicinal and adult-use cannabis in jurisdictions across North America. The cannabis market continues to forge ahead, with the United States making progress state by state and a visible, continued push for meaningful cannabis law reform at a federal level. As Canada approaches its October 17th legalization date for adult-use cannabis and attitudes toward cannabis use continue to evolve, we are encouraged by the momentum in the industry, and pleased to have established our strategic position in multiple jurisdictions at this time.”

Currently trading at a market capitalization of $302M, MPXEF has a significant war chest ($30.7M) of cash on the books, which compares with about $8.1M in total current liabilities. MPXEF is pulling in trailing 12-month revenues of $31.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 183.3%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $MPXEF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $MPXEF, either long or short, and we have not been compensated for this article.

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