Are you thinking about turning part of your home into an office so you can work more peacefully? Lessen the noise and distractions by following these simple steps:
Install a carpet
Thick padding installed underneath dense carpeting can help reduce the noise in a large room. If you have wooden or tile floors, add a large area rug to muffle the sounds within your room. Situate a non-skid rug pad under your area rug to further reduce the noise level. Position an area rug on top of low-nap carpet to provide an additional layer of sound absorption. Carpets or rugs that are plusher and cushier absorb noise better than their thin counterparts.Source:HomeGuidesSFGate
Use heavy curtains
Good curtains work wonders against street noise coming through flimsy windows.Thicken the material between the room and the noise with lined curtains, window dressing made from bulky fabric like velvet, or specialty noise-absorbing drapes (which usually have a thick wool core stitched between the decoative fabric).Source:ApartmentTherapy
Replace your windows
Newer, better windows are nearly always better at slowing transmission of exterior sound. Many homeowners install triple-pane windows as much for their sound-deflecting qualities as for potential energy savings.
If you have older style aluminum-framed windows, you are better off with vinyl, fiberglass, or wood framed windows. These older windows do not have a thermal break between outside and inside, making the inside colder.
Storm windows add yet another layer of glass and can be self-installed, saving money. While their sound reduction qualities are only minimal, storm windows are easy to put on, easy to take off, very cheap, and not visible. Source:TheSpruce
If you want to have carpet installed in your new home office, contact us and we’ll even give you some advice on which type of fiber will suit your lifestyle best!
Have you noticed the appearance of these pests on your carpeted floors? Today, we’ll teach you how to deal with this annoying problem.
What are carpet beetles?
The common variegated carpet beetle is recognisable by its oval-shaped, grey, brown and cream mottled body. Although it measures only 2-4mm in length, its larvae can cause considerable damage to wool carpets as well as feather-filled soft furnishings.
The adults are most active in late Spring and early Summer but the larvae won’t hatch until the Autumn, when you will start to see damage.Source:Good HouseKeeping
How to get rid of them?
Spray or dust your carpet and furniture with an insecticide. There are many different types of carpet treatment products that you can buy. Make sure that whatever spray or dust you’re applying is for killing carpet beetles specifically, and check the label of chemical insecticides to make sure that the product contains chlorpyrifos, bendiocarb, and allethrin in order to ensure eradication success.
Chemical insecticides may be harmful to other animals, so if you have any pets make sure to secure them in a location away from where the insecticide is sprayed or dusted.
Spread boric acid all over your carpet and upholstered furniture, and make sure to vacuum it up within two hours of laying it down. While it is lethal for beetles, boric acid isn’t powerful enough to harm humans.
Dehydrate carpet beetles with diatomaceous earth. Sprinkle diatomaceous earth on pet beds and in the back of cabinets and closets. It’s safe for pets and humans, but you’ll need to wear a respirator or mask while applying to keep yourself from inhaling the particles.
Many common household pesticides that kill ants and roaches will also kill carpet beetles, or simply limit their food supply. Spray the product in corners of closets, on window ledges, and in any crevices that could potentially house carpet beetles.Source:WikiHow
Do a deep clean
To be on the safe side, it’s advisable to deep clean any upholstery around the carpet as some beetles may have strayed away and made their home in these fabrics. If this is the case, they will multiply and find their way back to your carpet. To deep clean your upholstery, vacuum the material thoroughly using an appropriate attachment. Don’t leave out any crevices or narrow spaces as bugs tend to hide in these areas. Next, make a solution of white vinegar and water (equal parts) and spritz it over the upholstery; leave it to air dry. Vinegar acts as a natural bug repellent that doesn’t stain or smell.Source:Build
Carpet beetles can cause damage to your carpet. But don’t worry! We can take care of that. Call us today to book an appointment.
Q4 2019 Systemwide Pro Forma Sales of $17.5m, an increase of 525% over Q4 2018.
2019 Full Year Systemwide Pro Forma Sales for 2019 of $63.5m, an increase of 786% over full year 2018.
Q1 2020 Systemwide Pro Forma Sales of $23.8m, an increase of 36% over Q4 2019.
Robust consumer demand continues across all operating markets despite COVID-19.
Company reaches a conditional resolution, subject to final commission approval, with the Massachusetts Cannabis Control Commission with respect to legacy regulatory issues. The Company expects the agreement, if approved, will clear the path for recreational licensing of its Massachusetts locations.
Funded expansion plans underway in both Massachusetts and Illinois production facilities expected to be completed by Q4 2020.
Company remains on pace to be cash flow positive in 2H 2020 and poised to show significant operating leverage in 2021.
Company is in active discussions to further improve liquidity and strengthen its balance sheet through a sale and leaseback of its affiliated facilities in Washington state.
PHOENIX, Ariz., June 15, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) today announced its audited financial results for the fourth quarter and Fiscal Year 2019 and preliminary results for the First Quarter of 2020.
The Company’s 2019 financial statements consolidate results from 4Front Holdings LLC (“4Front Holdings”) and Cannex Capital Holdings, Inc. (“Cannex”), which completed a merger on July 31, 2019. Cannex operations are included from July 31, 2019, through December 31, 2019.
Fourth Quarter and Fiscal 2019 Financial Results Highlights
Total Systemwide Pro Forma Sales, a non-IFRS measure, for the fourth quarter 2019 increased 525% year-over-year and 4% quarter-over-quarter to $17.5m. Total Systemwide Pro Forma Sales for 2019 increased 786% year-over-year to $63.5m.
IFRS Sales for fourth quarter 2019 increased 361% year-over-year and 6% quarter-over-quarter to $12.9m.
Adjusted EBITDA, a non-IFRS measure, for the fourth quarter was a loss of $5.4m. Adjusted EBITDA for 2019 was a loss of $20.9m.
The Company ended the fourth quarter of 2019 with $8.1m of cash and $87.3m in long-term and convertible debt.
Fourth quarter results include a non-cash impairment charge of $146.3m related to timing of the closing of the Cannex transaction. Higher industry stock prices at the date of the merger compared to stock prices at December 31, 2019 was the primary driver in the impairment of goodwill. The impairment is not reflective of any change to the Company’s expectations for increased revenue and improved profitability.
First Quarter 2020 Preliminary Financial Results Highlights
Preliminary Total Systemwide Pro Forma Sales for the first quarter 2020 increased 36% quarter-over quarter to $23.8m.
Preliminary IFRS Sales for the first quarter of 2020 increased 37% quarter-over-quarter to $17.6m.
Gross profit, less the impact of adjustments for biological assets, for the first quarter was $9.7m.
Adjusted EBITDA for the first quarter was a loss of $3.8m.
Business Update
Robust consumer demand continues across all operating markets despite COVID-19. All states where the Company operates has deemed cannabis operations as “essential businesses” during the pandemic.
Company reaches a conditional resolution, subject to final commission approval, with the Massachusetts Cannabis Control Commission with respect to legacy regulatory issues. The Company expects the agreement, if approved, will clear the path for recreational licensing of its Massachusetts locations.
Funded expansion plans underway in both Massachusetts and Illinois production facilities expected to be completed by Q4 2020. These upgrades represent Phase 1 of the Company’s expansion plans in two of its core markets which are expected to double the output of its Georgetown, Massachusetts facility and more than triple current output in Illinois.
Company remains on pace to be cash flow positive in 2H 2020 and is poised to show significant operating leverage in 2021. Having reduced corporate overhead expense by over 40%, the Company anticipates generating positive cash flow commensurate with final recreational licensing in Massachusetts and producing positive adjusted EBITDA in 2020.
Liquidity and Sale Leaseback Update
As of May 31, 2020, 4Front’s balance sheet had cash and equivalents of $11.5m with total debt of $80.1m (excluding in-the-money convertible debt of $5.8m).
The Company owns and controls highly attractive real estate in Washington state consisting of 176,000 square feet of state-of-the-art industrial space built for cultivation, production and distribution. The assets are encumbered by senior secured debt associated with Gotham Green Partners.
A sale and leaseback of these assets would likely enable the Company to remove the senior secured debt from its capitalization table, creating the benefit of removing significant debt from the balance sheet while giving the Company flexibility to more freely pursue non or minimally dilutive project financing options. The Company is in active discussions with multiple partners on a transaction.
Management Commentary
Leo Gontmakher, CEO of 4Front, said, “2019 was a transformative year for our company. With the acquisition of Cannex in July and its subsequent integration into 4Front during the second half of the year, 4Front became a leader in the mass-production of low-cost, high quality, branded cannabis products. Entering 2020, we have been laser-focused on leaning out and replicating our low-cost cultivation and production model in targeted states. The implementation of this model at our facilities in Georgetown and Worcester, Massachusetts, and in Elk Grove Village, Illinois, is expected to enable us to increase production of cannabis products to meet the new adult use demand expected in those two states.”
Mr Gontmakher added: “The work our team has done over the past six months to focus our business model, streamline our cost structure and fortify our balance sheet has set the stage for us to accelerate growth across our core markets of Washington, Illinois, Massachusetts, Michigan and California. Reducing debt, in particular the elimination of the senior secured convertible debt, will greatly improve our financial flexibility and will allow us to consider a wider range of financing funding options as we look to expand deeper into those core markets. 4Front has never been stronger than it is today, supported by a strengthened balance sheet, proven expertise and streamlined operations. We are extremely confident in how the company is positioned as we enter this new season in our history.”
(Please see Note Regarding Non-IFRS Measures, Reconciliation, and Discussion below.) (*Please see the Financial Statement section below, and the Company’s 2019 Audited Consolidated Financial Statements and Management Discussion and Analysis (“MD&A”), available under the Company’s SEDAR profile, for more information.)
Additional Details
At December 31, 2019, and the date of the MD&A, there were the equivalent of 531,521,620 Class A Subordinate Voting Shares outstanding when calculated as if all share classes were converted to Subordinate Voting Shares. For further details regarding 4Front’s share structure, please see its profile at www.thecse.com.
Conference Call
The Company will host a conference call and webcast today, Monday, June 15, 2020, at 9:00 a.m. EDT to review its operational and financial results and provide an update on current business trends.
To join the call, dial 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries. The webcast, which will include a slide deck, can be accessed at this link.
The call will be available for replay until Monday, June 22, 2020. To access the telephone replay, dial 1-844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and use this replay pin number: 13704727.
Financial Statements
The audited consolidated financial statements for the twelve months ended December 31, 2019, have been prepared in accordance with International Financial Reporting Standards.
Note Regarding Non-IFRS Measures, Reconciliation, and Discussion
In this press release, 4Front refers to certain non-IFRS financial measures such as Systemwide Pro Forma Revenue and Adjusted EBITDA. These measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers. 4Front defines Systemwide Pro Forma Revenue as total revenue plus revenue from entities with which the Company has a management contract, or effectively similar relationship (net of any management fee or effectively similar revenue) but does not consolidate the financial results of per IFRS 10 – Consolidated Financial Statements. 4Front considers this measure to be an appropriate indicator of the growth and scope of the business.
Adjusted EBITDA is defined by the Company as earnings before interest, taxes, depreciation and amortization less share-based compensation expense and one-time charges related to acquisition and financing related costs, excluding fair value adjustments for biological assets. 4Front considers these measures to be an important indicator of the financial strength and performance of our business. The following tables provide a reconciliation of each of the non-IFRS measures to its closest IFRS measure.
To be added to the email distribution list, please email 4FrontIR@kcsa.com with “4Front” in the subject.
About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website.
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.
Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.
Are you a fur parent looking for the perfect flooring that requires minimal upkeep? Here are some of the top picks for you:
Bamboo
Bamboo is an excellent flooring for pets for many different reasons. It’s harder than the hardest hardwoods, meaning it will stand up to more traffic. It won’t wear out, and it’s completely renewable. This makes it a good choice for those who are trying to be green. Bamboo is stain resistant, so people don’t have to worry about accidents or spills. Bamboo’s hardness will help save money when compared flooring that will require repairs from scratches. For those who are trying to decide between using wood and vinyl flooring, choosing bamboo floors is a great compromise.Source:BuildDirect
High-performance carpet
Pets do love carpeting; there’s just something to be said about having carpeting in your home that a pet can run across and roll around upon without destroying the fibers. High-performance carpeting continues to improve in terms of spill, soil, and stain resistance, and manufacturers now produce a wide assortment of styles and textures, so homeowners are not as limited as they were 5-10 years ago. Bellera High-Performance Carpet from Shaw Industries is one of the newest on the market that comes not only with promises for durability, but warranties to suit. We know lots of people who have replaced carpeting in their homes and opted for a high-performance product that’s both as soft as any carpet you’d want, but also durable for pets (and the active kids who keep them on their toes).Source:HGTV
Stone, tile, and concrete
Hard flooring options such as stone, tile, and concrete are most likely to withstand the constant wear and tear of clawed feet. These hard surfaces are also the easiest to clean after a wet dog does its trademark shake, a long-haired cat sheds its fur, or an untrained pup leaves behind a messy surprise. As a downside, flooring made of stone, tile, or concrete can get chilly during cold weather, and dogs may be uncomfortable relaxing on the hard surfaces. Both issues, though, can be addressed easily by scattering thick rugs and pet beds throughout your home. As an alternative solution, some homeowners may choose to install heated floorboards.Source:BobVila
Play around freely with your pet knowing that we’re here to take care of any carpet troubles. Call us if your carpet needs some repair!
Is a damaged area on your carpet starting to irritate you? Say goodbye to this small annoyance by replacing that portion with some pieces that you might have left from the installation. Or, cut out some parts from hidden spots using the following tips:
Mark the area
Use an awl or capped pen to establish a square around the damaged area. Press the instrument into the carpet between the tufts and drag it. This separates the tufts and minimizes the number of tufts that will get cut.
Cut the damaged part
Use your carpet or utility knife to cut the carpet along the lines of the square. Try your best to cut only the backing of the carpet, avoiding tufts. Carefully remove the section of carpeting. If any carpet fibers remain attached, cut them rather than pull them away.Source:TheSpruce
Prepare the carpet patch
Next, cut a replacement plug, using the cutout as a template. To start, make a first cut in the replacement material, using a straightedge to guide your carpet knife. Then set the cutout on the replacement material with one edge aligned along that first cut. When you lay the cutout on top of the replacement material, make sure their naps are running in the same direction. You can tell which direction the nap is running by rubbing your hand over the carpeting and watching which way the fibers fall or stand up. Once you have the cutout lined up correctly, part the fibers around the three uncut sides just as you did before.
Cut along the parts and test-fit the plug in the cutout hole, making sure the nap of the plug matches the nap of the surrounding carpet. If the plug is a little too big, trim off a single row of fibers with sharp scissors (old, dull scissors will tear the fibers).Source:FamilyHandyman
Put the patch in place
Groom away any loose carpet fibers from the edge of the hole. Check the fit before applying any glue. Then, put down a thin layer of carpet glue along the edges of the adhesive disk. Place the patch into the hole, taking care to make sure the fit is snug and even. Press lightly to allow the backing on the patch to come into contact with the underlying tape and adhere properly.
Align the patch so that the direction of the fibers in the patch match the direction of the fibers in the rest of the carpet.
You have about 15 minutes to position and align the patch perfectly before the glue sets, permanently anchoring your patch in place. Work quickly.Source:WikiHow
Are you afraid to mess up this DIY job and end up causing more damage? Let a professional do it for you in just an instant. Call us today to set up an appointment!
PHOENIX, Ariz., June 1, 2020 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”) today announces it plans to issue its fiscal year 2019 earnings press release on Monday, June 15, 2020, before markets open, commensurate with the filing of its audited financial results.
The Company will also host a conference call and webcast on Monday, June 15, 2020, at 9:00 a.m. EDT to review its operational and financial results and provide an update on current business trends.
To join the call, dial 1-877-407-0792 toll free from the United States or Canada or 1-201-689-8263 if dialing from outside those countries. The webcast, which will include a slide deck, can be accessed at this link.
The call will be available for replay until Monday, June 22, 2020. To access the telephone replay, dial 1-844-512-2921 toll free from the United States and Canada, or 1-412-317-6671 if dialing from outside those countries, and use this replay pin number: 13704727.
As a result in the delayed filing of the 2019 Annual Filings, the Company also announces the postponement of filing its first quarter financial statements and management’s discussion and analysis (collectively the “First Quarter Filings”), and intends to file on or before July 15, 2020. 4Front continues to rely on exemptive relief provided by British Columbia Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements, which provides an additional up-to 45 days for issuers to complete their required filings.
Until such time as the 2019 Annual Filings and First Quarter Filings are filed, 4Front’s management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11-207.
The Company confirms there have been no material business developments since the filing of its interim financial report as at and for the three and nine months ended September 30, 2019 and 2018 other than as have been previously publicly disclosed.
To be added to the email distribution list, please email 4FrontIR@kcsa.com with “4Front” in the subject.
###
About 4Front Ventures Corp.
4Front (CSE: FFNT) (OTCQX: FFNTF) is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis brands including Marmas, Crystal Clear, Funky Monkey, Pebbles, and the Pure Ratios wellness collection, distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries.
Headquartered in Phoenix, Arizona, 4Front has operations in Illinois, Massachusetts, California, Michigan and Washington state. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain. For more information, visit 4Front’s website.
4Front Investor Contact
Andrew Thut, Chief Investment Officer IR@4frontventures.com
602-633-3067
Phil Carlson / Elizabeth Barker 4FrontIR@kcsa.com
212-896-1233 / 212-896-1203
4Front Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206
This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents. The Canadian Securities Exchange (“CSE”) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in 4Front Ventures’ periodic filings with securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of 4Front Ventures, developments with respect to legislative developments in the United States, expectations regarding the COVID-19 pandemic, future revenue or Adjusted EBITDA expectations, statements regarding when or if any contemplated or in-progress transactions will close or if/when required regulatory approvals are attained, and other statements regarding future developments of the business. The closing of the transactions described in this news release, including the divesture of Pennsylvania and Maryland assets and the sale of convertible debt, is subject to customary conditions and there can be no guarantee that such transactions will close.
Although 4Front Ventures has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.
High-Performance Carpet from Shaw Industries 