Marijuana investor Lorne Gertner on the future of Canada’s pot business

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The following excerpt is taken from an article in the Globe & Mail quoting Anthony Scilipoti. 

“IFRS says companies must mark these biological assets to their fair value every quarter, and record the change in value in their income statements. And as companies apply the IFRS guidance, they’re putting that change right up where the cost of goods appears, affecting the calculation of gross profit.

“It sounds good intellectually, but it’s not particularly useful for investors interested in current profitability,” says Anthony Scilipoti, Chief Executive Officer of accounting-focused firm Veritas Investment Research.   

Please click here to read the article from Globe and Mail.

For more information on Veritas  research, please visit our website at www.veritascorp.com 
            
        
                             

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