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Tuesday, December 6, 2022

The Big Question Ahead for iAnthus Capital Holdings Inc (OTCMKTS:ITHUF)

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Like many stocks in the cannabis patch, iAnthus Capital Holdings Inc (OTCMKTS:ITHUF), ripped back into gear on Friday of last week, and now the big question of this: Will we see the bottom hold?

To further flesh out the story, the company just announced that as of December 7, 2018, it has granted 1,367,500 incentive stock options, exercisable at CAD $6.00 per stock option to advisory board members, consultants, and employees of the company. This helps to further build out governance and strategic resources. We like to see this. This news, while obviously helpful, figures into a tape that has been defined by distribution of late, with shares of ITHUF taking a hit in recent action, down about -5% over the past week. It should be an interesting battle in terms of how the stock reacts in coming days.

iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) pulled in sales of $1.1M in its last reported quarterly financials, representing top line growth of 56.1%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($15.6M against $0).

The company, through its wholly-owned subsidiary iAnthus Capital Management, LLC, provides investors diversified exposure to “best-in-class” licensed cannabis cultivators, processors, and dispensaries throughout the United States. iAnthus currently owns, operates or has partnered with marijuana license holders in Massachusetts, Vermont, Colorado and New Mexico.

As reported, “founded by entrepreneurs with decades of experience in investment banking, corporate finance, law and healthcare services,” iAnthus provides a “unique combination” of capital and hands-on operating and management expertise. The Company leverages these skills to support “a diversified portfolio of cannabis industry investments for our shareholders.”

Moreover, iAnthus Capital Holdings, Inc. engages in the delivery of solutions for financing, developing, and managing state-licensed cannabis cultivators and dispensaries in the United States. The company is headquartered in New York, New York.

According to company materials, “iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company harnesses these skills to support operations across five states.”

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As noted above, ITHUF just announced that the company as of December 7, 2018, has granted 1,367,500 incentive stock options, exercisable at CAD $6.00 per stock option to advisory board members, consultants, and employees of the company.

In all, recent action has seen -5% stripped out of share pricing for the listing in the past week. What’s more, the name has seen interest climb, with an increase in recent trading volume of 40% beyond its prior sustained average level.

According to the release, “All stock options are exercisable for a period of 10 years, subject to any earlier termination in accordance with their terms. The 1,367,500 stock options have the following vesting periods: 50,000 options vest at a rate of 25% on December 31, 2018, and 25% quarterly thereafter; 1,317,000 options vest at a rate of 12.5% on December 31, 2018, and 12.5% quarterly thereafter.”

Earning a current market cap value of $320.77M, ITHUF has a significant war chest ($15.6M) of cash on the books, which compares with virtually no total current liabilities. ITHUF is pulling in trailing 12-month revenues of $3.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 56.1%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ITHUF 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 $ITHUF, either long or short, and we have not been compensated for this article.

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