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Liberty Health Sciences Inc (OTCMKTS:LHSIF) Turns In the Report Card

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Liberty Health Sciences Inc (OTCMKTS:LHSIF) just announced its financial results for the third quarter ended November 30, 2019.

According to the release, consolidated net sales for the quarter ended November 30, 2019 were $16,122,254, compared with $3,172,097 for the quarter ended November 30, 2018, and $32,270,471 for the nine-months ended November 30, 2019, compared with $6,532,505 for the nine months ended November 30, 2018. The Company recorded net income for the quarter ended November 30, 2019 of $6,891,713, compared with a net loss of $9,698,829 for the quarter ended November 30, 2018.

Liberty Health Sciences Inc (OTCMKTS:LHSIF) frames itself as a company that engages in the production and distribution of medical cannabis primarily in the State of Florida.

It has a strategic partnership with Veterans Cannabis Project to support various research projects focused on the treatment of service related trauma with cannabis derived products; and partnership with AdaViv Inc. to enhance production of cannabis.

The company is headquartered in Toronto, Canada.

Liberty Health Sciences was established to own and operate medical marijuana licenses in the United States. To date, the company owns one of 14 licenses issued in the state of Florida as well as 50.1% interest in a provisional processing license and a provisional dispensary license, both in Ohio. Liberty has also made an investment in a provisional medical license in the Commonwealth of Massachusetts.

According to company materials, “Liberty is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale and beyond. Liberty’s measured approach to expansion opportunities maximizes returns to shareholders, while keeping consumers’ well-being at the forefront of what we do.”

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As noted above, LHSIF just announced its financial results for the third quarter ended November 30, 2019.

The stock has suffered a bit of late, with shares of LHSIF taking a hit in recent action, down about -19% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -34%. Furthermore, the stock has seen interest climb, with an increase in recent trading volume of 87% above its longer-run average levels.

“The third quarter of fiscal year 2020 has continued to show positive results,” said Victor Mancebo, Chief Executive Officer of Liberty. “We are pleased with the results, which are made possible due in part to our loyal patients in Florida and our dedicated and knowledgeable staff working throughout the state.”

Earning a current market cap value of $111M, LHSIF has a significant war chest ($28.5M) of cash on the books, which is balanced by about $21.7M in total current liabilities. One should also note that debt has been growing over recent quarters. LHSIF is pulling in trailing 12-month revenues of $35.7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 408.3%. 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 $LHSIF 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 $LHSIF, either long or short, and we have not been compensated for this article.

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