Sign up USA
Proactive Investors - Run By Investors For Investors
Why invest in TGIF?

Friday Night, the Las Vegas cannabis group, on the way to profitability

Friday Night’s priority is building a new 67,000 sq ft building to boost production...
Las Vegas at night
Pictured - Vegas at night

Nevada-focused Friday Night Inc (CSE:TGIF, OTCQB:TGIFF) represents a 'compelling' investment opportunity in the legal cannabis space, according to an article on CFN Media.

"In addition to its existing revenue growth, the company’s Nevada facility is nearing final approval and could produce significant shareholder value over the coming years once complete," it says.


Friday Night’s priority is building a new 67,000 sq ft building to boost production.

After acquiring the land and securing zoning approval, it is now awaiting final plan approval from the county.

Friday Night owns the first licensed cultivation facility in the Las Vegas area, Alternative Medicine Association (AMA), as well as the developer of hemp and cannabidiol (CBD) infused product maker called Infused Mfg.

Robust results..

Last week, the group reported a 20.2% increase in total sales in the second quarter against the first.

The figure was C$2.96mln compared to C$2.46mln in the first quarter and the increase was contributed to by both Las Vegas subsidiaries.

Alternative Medicine Association (AMA) has increased its focus on producing higher quality plants that command a higher price in the marketplace. Sales were up 11%.

Infused Mfg has increased its product offering, and both its top line sales and profits significantly contributed to the company's bottom line, it said. Sales added an impressive 45%.

"On the bottom line, gross profits reached $1,579,127, representing attractive gross margins of about 53.3 percent, while the company’s balance sheet remains robust with $15,753,139 in cash and cash equivalents," said CFN.

"These cash reserves provide ample buying power to complete future acquisitions and build out its new cultivation facility in Nevada, while strong profit margins pave the way towards profitability over the coming years."

Growing industry..

Notably, the pot industry is expected to surpass US$50bn by 2026, according to investment banker and advisor Cowen & Co, driven by the legalization of adult-use and medical cannabis in a growing number of states.

"In addition to California, Nevada has become one of the most promising states that has legalized adult-use cannabis given its enormous tourism industry. Investors looking for exposure to the market should look no further than Friday Night," says the article.

The company is also building new  revenue streams.

Last November, it reached an exclusive agreement with MariMed Advisors to produce THC products, including their “Melts” product line, a “Mints” line, “Kalm Corn” products, and the "Betty Eddies” and “Berry Bombs” line of products.

This year it also acquired Spire Secure Logistics, a private Canadian firm specializing in security, intelligence, with expertise in both the regulated cannabis industry and other sectors.

"Management also continues to look at various acquisition targets to augment its current operations, both within and outside of Nevada.

"It has entered into numerous LOIs that did not close as management determined these acquisitions either did not meet its stringent specifications or the asking price was not justifiable," said the article.

Friday Night shares are up 3.77% to C$0.55 in Toronto.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full TGIF profile View Profile

Friday Night Inc. Timeline

Related Articles

Management behind ICC International Cannabis Corp has a clear buy, build and sell strategy
August 28 2018
Tidal Royalty provides capital to help grow licenced US cannabis firms in exchange for receiving a percentage of future top-line revenues.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use