James Thottam

Investment Research

[James Thottam @InRuffResearch]

@farman4x 96

[James Thottam @InRuffResearch]

@EricTrump @Trump @realDonaldTrump Was this meant to be posted tomorrow?

[James Thottam @InRuffResearch]

@p_h_Chandler @keithboykin The prohibition is on slogans on the caps not the caps themselves

[James Thottam @InRuffResearch]

@cannasseursio $SHWZ

The 33rd New Mexico dispensary isalso on its way...see this post on the SHWZ reddit group:

https://t.co/xWm0vqblje

[James Thottam @InRuffResearch]

@CannaVestments Agreed.
I take unlevered FCF, adjust for seasonality and # of dispensaries and calculate it for the year & deduct ~$28MM in cash interest expense (incl. Everest) and end with ~$20MM in unlevered FCF by eoy with double-digit yields/FD share. Want to join our whatsapp group?

[James Thottam @InRuffResearch]

@CannaVestments If you are going to argue about taxes, then you need to adjust for:
Increased inventory by over $3MM
Increased prepaid assets by over $3MM
Decreased Accounts Payable by almost $3.5MM
Increased Accounts Receivable by over $100k
Reduced the operating lease liability by $1.5MM

[James Thottam @InRuffResearch]

@CannaVestments Take OCF and add back changes in working capital:

Operating Cash Flow = -$879,861
Add back Changes:
Inven ~ $3,023k
PrePaid Assets ~ $3,037k
AP ~ $3,465k
Receiv. ~ $119k
Op Lease ~1,532k

Deduct:
Inc Taxes Payable = $5,299k
Maint Capex of $500k

You get almost $5MM

[James Thottam @InRuffResearch]

@jfh87_ @JSCaldwell2 @CannaVestments Take operating cash and add back changes in working capital:

Operating Cash Flow = -$879,861
Add back Changes:
Inventory ~ $3,023k
Paid Assets ~ $3,037k
Accounts Payable ~ $3,465k
Receivables ~ $119k
Operating Lease ~1,532k

Deduct Income Taxes Payable = $5,299k

You get $5MM!

[James Thottam @InRuffResearch]

@ABQBizFirst Check out https://t.co/18o535OZnS for more information Schwazze and join the community for free (or message me if you want to join our private chat group on Schwazze)

[James Thottam @InRuffResearch]

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