Quick Take
Helix TCS (HLIX) has announced the acquisition of Amercanex International Exchange for an undisclosed amount.
Amercanex has developed an electronic trading system to enable licensed cannabis wholesalers to obtain information and trade legal cannabis products.
HLIX appears to be in a ‘building’ phase to provide a suite of cannabis supply chain capabilities to the wholesale cannabis sector in North America and other regions.
However, while top-line revenue is growing, expenses ratios are increasing and EBITDA losses are growing, so I don’t see a path to profitability for shareholders.