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Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) Searching for Bottom

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Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) just announced changes to streamline its leadership structure.

According to the release, the Company’s President, Mr. Csaba Reider, will be departing the organization.  Mr. Reider’s duties will be assumed by the Company’s CEO, Brian Athaide. Mike Gibbons, Vice President of Sales, is also leaving the organization. Robert Gora, Vice President of Medical Commercialization, will assume the consolidated role of Vice President, National Sales, leading sales and revenue generation across medical and recreational channels.

Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate medical cannabis.

The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders. TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

According to company materials, “The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 170,000 kgs and is building 1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica.”

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As noted above, TGODF just announced changes to streamline its leadership structure.

Even in light of this news, TGODF has had a rough past week of trading action, with shares sinking something like -4% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. In addition, the company has benefitted from a jump in recent trading volume to the tune of 15% above its longer-run average levels.

“The changes we announce today are part of a comprehensive review of our operations to reduce costs and improve cash flow. This will result in significant G&A savings and a leaner more efficient organization.  We are also very focused on ramping up production, expanding our product portfolio with innovative organic products and gaining market share across the country.” commented Brian Athaide, CEO of TGOD.

Now commanding a market cap of $159M, TGODF has a significant war chest ($63.1M) of cash on the books, which stands against about $68.3M in total current liabilities. One should also note that debt has been growing over recent quarters. TGODF is pulling in trailing 12-month revenues of $9.7M. However, the company is seeing recent declines on the top-line on a sequential quarterly basis, with revenues falling at -12.8% as of its latest reporting period. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $TGODF 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 $TGODF, either long or short, and we have not been compensated for this article.

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