Mon, Apr 21, 5:58 PM (24 days ago)
**Bespoke Extracts, Inc. (BSPK) - Financial Summary** **Financial Performance:** - **Revenue:** $1,117,452 (2024) vs. $785,453 (2023) - **Net Income:** $(1,037,475) (2024) vs. $(1,482,843) (2023) - **Earnings per Share:** $(0.10) (2024) vs. $(0.15) (2023) - **Operating Expenses:** $1,447,563 (2024) vs. $1,815,142 (2023) **Strategic Overview:** - Focus on regulated cannabis markets in the U.S. - Acquisition of WonderLeaf assets in January 2023. - Brands include Fresh Joints, Doobskis, DutchBlunts, and Wee Joints. - Plans to expand product offerings and market share. **Future Outlook:** - Expansion into new states and markets. - Potential acquisitions and strategic partnerships. - Continued investment in brand building and innovation. **Risk Factors:** - Regulatory uncertainty and federal illegality of cannabis. - Dependence on state laws and potential changes. - Competition from illicit operators and hemp-based products. - Financial risks due to operating losses and need for additional capital. **Financial Condition:** - **Cash:** $60,305 (2024) vs. $6,607 (2023) - **Current Liabilities:** $1,118,671 (2024) vs. $1,078,957 (2023) - **Working Capital Deficit:** $953,414 (2024) vs. $1,724,557 (2023) **Market Position Changes:** - Trading on OTCQB under the symbol "BSPK." - Limited liquidity and volatility in stock price. - No dividends paid or planned for the foreseeable future. **Key Metrics:** - **Stock Price Range (2024):** $0.02 - $1.00 - **Market Cap (as of March 27, 2025):** Approximately $760,000 - **Shares Outstanding:** 11,153,220 (2024) vs. 10,168,220 (2023) **Management and Governance:** - **CEO:** Michael Feinsod - **President:** Hunter Garth - No independent directors or audit committee due to small size. **Operational Highlights:** - Licensed operator in Colorado's adult-use cannabis market. - Processing services for licensed cultivators and dispensaries. - Consistent supply of high-quality cannabis in Colorado. **Regulatory Environment:** - Federal illegality and state-level regulations. - Potential for changes in federal enforcement and legislation. - Dependence on state and local laws for operations. **Competitive Landscape:** - Significant competition from private and public market participants. - Illicit operators and hemp-based products pose additional challenges. - Focus on quality and brand differentiation. **Financial Health:** - Negative cash flows from operations. - Need for additional capital to continue and expand operations. - Risk of insolvency if additional financing is not secured. **Conclusion:** Bespoke Extracts, Inc. is navigating a challenging regulatory and competitive landscape in the cannabis industry. While the company has shown revenue growth, it continues to face significant financial and operational risks. Strategic expansions and potential acquisitions are part of its growth strategy, but the need for additional capital and regulatory uncertainties remain critical challenges.