eSense’s UK e-ciggie deal still all smoke, no hard cash
Health & Biotech
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eSense-Lab hasn’t made any more sales to a UK e-cigarette maker after signing its two-deal contract, according to its December quarterly report.
During the quarter the company (ASX:ESE) signed a supply deal for its ‘lemon haze’ liquid with E-Quits Group. The deal doesn’t include a minimum order.
eSense makes synthetic terpenes, fragrant oils found in plants that carry flavour and aroma. They carry the pungent odour of cannabis and offer some medicinal properties — but they don’t contain THC, the compound that gets you stoned, or cannabidiol (CBD), another restricted element in cannabis.
E-Quits “indicated” to eSense they will provide a schedule of orders in the next few months.
eSense made no money in the quarter, spent $453,000 on admin, and has $2m left in the bank after a capital raising in October.
The company had a trying 2018, starting with a bruising boardroom fight and having to re-start the campaign to find customers for its terpenes.
eSense shares were flat at 2.7c on Friday morning.