HEXO Delays Release of Quarterly Report... Again
Investors will have to wait longer than anticipated for HEXO's (NYSE: HEXO) latest quarterly results. The cannabis company announced Tuesday that it failed to file crucial components of its fiscal 2020 second-quarter and first-half documentation by the March 16 deadline.
HEXO said its failure to submit the documents relating to those periods, which ended Jan. 31, was "due to certain exceptional circumstances." One of these relates to a substantial impairment to the value of its assets that the company will have to book in Q2. This writedown will be between 265 million Canadian dollars and 280 million Canadian dollars ($188 million to $199 million). But management has not yet determined the exact figure, which is a key reason for its filing delays.
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Source Fool.com
