After reporting a growing capacity of 240,000 kg and agreements with large cannabis operators, Valens Groworks (VGWCF) increased its valuation quite a bit. The company is currently trading at 3.89x forward sales, which does seem high. Investors should understand that the revenues reported in 2018 were from consulting agreements, not from the sale of cannabis. This type of activity does not report a large gross profit margin and revenue growth is not that elevated. It amounted to 26.5% y/y in the year ended November 2018. While the company expects revenues to increase a