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Unread 19-09-2019, 07:43 AM
Hands of Scone
 
Default Publicly Run Ontario Cannabis Dealing Makes a Loss

https://nationalfile.com/amp/ontario...mpression=true

Quote:
Ontario Cannabis Retail Corporation, the state entity that controls the cannabis market in the Canadian province, reported a loss of $42 million in its first fiscal year.
Even though Canada legalised cannabis consumption last year, the selling of the drug is tightly controlled. The OCRC is the only place you can buy the drug in Ontario legally. It operates under the Ontario Cannabis Store brand. They reported profits of $64 million for the year ending March 31st, 2019, but racked up expenses of $106 million.
How the f*** do you lose money with a monoply selling drugs?

 
Unread 19-09-2019, 07:46 AM
Sapien
 
Default

Buy high, get high, sell low?
 
Unread 19-09-2019, 08:14 AM
Ethers
 
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‘Never get high on your own supply’
 
Unread 19-09-2019, 08:20 AM
NedKelly
 
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I’m sure there’s really strict laws out there that dictate how long cannabis can be sold for before it’s deemed “too old”, and each batch must hit a certain THC level or it gets thrown out too. Unless you’re running it professionally and with an eagle eye then it’s probably easier to lose money than if you were an out and out drug dealer.
 
Unread 19-09-2019, 08:23 AM
Gypsum Fantastic
 
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it's a head scratcher alright. usually find a lot of savvy businessmen in local councils
 
Unread 19-09-2019, 08:26 AM
Patty_b
 
Default

Quote:
Originally Posted by NedKelly
I’m sure there’s really strict laws out there that dictate how long cannabis can be sold for before it’s deemed “too old”, and each batch must hit a certain THC level or it gets thrown out too. Unless you’re running it professionally and with an eagle eye then it’s probably easier to lose money than if you were an out and out drug dealer.
I've never been one to dumpster dive, but I guess everyone is capable of change.
 
Unread 19-09-2019, 09:00 AM
Finport Red
 
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Probably set the profit down, and just can't remember where they left it.

Or the huge expenses figure is mostly Pizza deliveries.
 
Unread 19-09-2019, 09:06 AM
waynes ear's
 
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sounds like OCRC read one of Tony Wilsons books and thought "we can top that"
 
Unread 19-09-2019, 09:09 AM
Lazlo Panaflex
 
Default

Quote:
Originally Posted by Gypsum Fantastic
it's a head scratcher alright. usually find a lot of savvy businessmen in local councils


that was my first impression.

A panel of derek and susans sitting around a carpeted office decided how many forms you can get people to fill out before they can grow some plants and get baked.
 
Unread 19-09-2019, 09:10 AM
Drexl
 
Default

Probably high set up costs/longish growing time with no revenue. Now the infrastructure is there and it is up and running, should be a tasty little earner... unless peeps start growing their own
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