Little Green Pharma (ASX: LGP) – focus on medicinal cannabis
COMPANY SCOREBOARD
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ABOUT COMPANY
Little Green Pharma (LGP) (https://www.littlegreenpharma.com/) is a vertically integrated and pure-play medicinal cannabis company operating in Australia and Denmark. The company focuses solely on pharmaceutical-grade cannabis to treat medical conditions.
In March 2021, the company acquired its leased WA cultivation and manufacturing facility for $6m.
In June 2021, the company acquired a fully-operational GACP cultivation and GMP licensed medicinal cannabis asset in Denmark for C$20. It can produce over 20 tonnes of biomass per annum including 12 tonnes per annum of dried cannabis flower. The company realized a $25m book value gain in FY21.
https://companiesmarketcap.com/aud/cannabis/largest-cannabis-companies-by-market-cap/
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| LGP | 0.14 | 302872995 | 42402219.3000 | 1.4/69 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 11723 | 49.47% | 55.78% | 12.12% | 17147050 | last raise $5m@18c; pre raise $4m@20c+25cOpt |
the founder holds ~22m shares(7.25%), Thorney holds ~60m shares (19.8%, of which 25m was taken from Gina Rinehart at 11c in Oct 2024), altogether makes up 27% of the total capital.
BUSINESS
Below is the company past five years’ performance
| LGP | 2024 | 2023 | 2022 (9 month) | 2021 | 2020 |
| Operation Revenue | 25632 | 19859 | 10280 | 7004 | 2204 |
| Cost of Sale | -17579 | -9769 | -6329 | -2761 | -1085 |
| Gross Revenue | 8053 | 10090 | 3951 | 4243 | 1119 |
| Gross Margin | 0.3142 | 0.5081 | 0.3843 | 0.6058 | 0.5077 |
| Overheads | -17217 | -17556 | -22293 | -8208 | -7744 |
| Fixed Overheads | |||||
| Variable Overheads | |||||
| Total Operation Expense | -17217 | -17556 | -22293 | -8208 | -7744 |
| Operation Profit | -9164 | -7466 | -18342 | -3965 | -6625 |
| Other Revenue | 2349 | 3656 | -1738 | 28716 | -2385 |
| Interest Expense | -464 | -880 | -512 | -52 | -353 |
| D&A | |||||
| Income Tax | |||||
| Net Profit | -7279 | -4690 | -20592 | 24699 | -9363 |
| NOTES | $4.8m Demark commissioning cost | $8.6m Demark commissioning cost | $25m book value gain on Demark purchase |
SUMMARY
It is the best Cannabis company on ASX.