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  5. GRN: Cloud please provide information regarding greenlane renewables inluding the propects for the activity in Brasil. [Greenlane Renewables Inc.]
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Q: Cloud please provide information regarding greenlane renewables inluding the propects for the activity in Brasil.

Thank you for the great job you do
Asked by Tino on April 27, 2023
5i Research Answer:

GRN's small size and weak share performance will likely limit investor interest in the current market. It has some cash ($20M) and good sales growth. While still losing money, cash flow was break-even last year. 2022 was a record, but 4Q sales were flar. But it does have 'chunky' revenue due to contracts. Insiders own 14%. Brazil has potential. It did $8M in sales there in 2022 and has a competent partner and recently announced a new agreement. It is about 11% of sales and we do expect this percentage to grow. With its small market cap and poor momentum it is hard to endorse strongly. But it does have potential growth, and cash, and some good qualities.