Looks like BXN will have a couple of other revenue streams come the end of the year

https://www.abc.net.au/news/2025-03-04/veterans-with-ptsd-depression-may-soon-get-psychedelic-therapy/104825752?utm_source=abc_news_app&utm_medium=content_shared&utm_campaign=abc_news_app&utm_content=link

As flagged in last night’s straw, they reported today.

Not much to add to previous straw other than firming up numbers and more contact about the expanding market for gummies.

see valuation

Having light heartedly responded to @juneauquan's post about this company, I have by a curious twist of events ended up looking at it again. I have just gone through the process of becoming a patient for CBD gummies for insomnia after various people had recommended them and was interested to see who the manufacturer was for the pharmacy I am buying them from. Turns out to be Bioxyne, via it's 100% holding in Breathe Life sciences.

Bioxyne is tiny, it has a MC of $55m.

It had previously issued shares at a phenomenal rate to keep itself alive expanding the count from ~600m in 2022 to four times that in 2024. Ouch. But in the last few months it has turned the corner in quite spectacular style.

It has had various iterations over the last 10 years but is now firmly in the THC/CBD manufacturing business, and that has gone quite well of late. It received a GMP licence from the TGA to manufacture THC gummies (as well as MDMA and psilocybin products) in Jan 2024. It also has a manufacturing facility in the UK and Japan and serves those markets and an import and packaging plant in the Czech republic. It is not only a B2B manufacturer but also has its own wellness direct to consumer brand DrWatson (see UK below).

The medical marijhuana market is predicted to grow at a CAGR of 30% until 2030.

It released a very positive quarterly in Jan 2025 and an update to guidance. If you like pictures these are the two that matter

Just assuming no further increase in revenue and annualising the last quarter gives you about $30m in cash receipts and positive Operating cash flow of $6m. They are, however looking to expand manufacturing capacity in anticipation of further contract wins which may increase costs significantly in the short term but have 2.7m of cash which may be enough.

GM appears to be 20% which isn't bad for a manufacturing business.

They haven't given a geographic breakdown of revenues.

Potential other sources of income include their DrWatson brand of CBD oil and mushroom products sold DTC and on Amazon in the UK EU and Japan. They have flagged a potential ramp up of manufacturing in the EU to supply that market.Lastly, there is the potential for revenue streams from the MDMA and psilocybin arms which look to be some way off currently, though they are the only GMP approved manufacturing facility in Australia currently and can consequently supply medical trials.

It's clearly a high risk play in a variety of domains: regulatory risk, execution risk and capital allocation risk to name but a few.

Having just written all this up I realise I should just have waited a few days until the Half yearly comes out, sigh.

Not held yet, but really very interested.

This just popped upon my Ann feed

Know nothing about the company plus share price is below one cent.

But cannabis gummies.