OVATION SCIENCE INC. (OVATF)
Ovation Science Inc. specializes in the manufacturing of cannabis and hemp-derived products, distributing them across Canada, the United States, and Mexico. Central to its operations is Invisicare, a proprietary, patented drug delivery system. This advanced technology is incorporated into topical and transdermal skincare products, which feature hemp seed oil and cannabis, and are marketed under the Ovation and BASKiN brands. Beyond this core technology, the company offers a range of other solutions: health and wellness products infused with cannabidiol (CBD) under the Invibe MD name, CBD-focused skincare solutions branded as ARLO CBD, and hand sanitizers known as DermSafe. Furthermore, Ovation Science Inc. possesses various sublicenses for cannabis-related offerings and oversees the Lighthouse platform, which caters to licensed dispensaries throughout the United States. The firm was established in 2017 and maintains its primary corporate offices in Vancouver, Canada.
Industry: Drug Manufacturers - Specialty & Generic
Ovation Science Inc.
OTC:OVATFHealthcare · Drug Manufacturers - Specialty & Generic
Mkt Cap$288K
Float29.4M
O/S38.44M
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$48K
Net Income-$450K
Total Assets$59K
Free Cash Flow-$54K
Debt & Equity
Total Debt$202K
Total Equity-$1.04M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in OVATF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$59K
Liabilities$1.1M
Accounts Receivable$7K
Accounts Payable$101K
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $48K | $81K | $44K | $98K | $160K | $535K | $216K | $69K | $9K |
| YoY Growth | -40.1% | 82.8% | -55.2% | -38.6% | -70.0% | 148.0% | 213.6% | 668.5% | - |
| Cost of Revenue | $271K | $20K | $6K | $2K | $26K | $144K | $13K | $10K | -$13K |
| Gross Profit | -$223K | $61K | $39K | $96K | $134K | $391K | $202K | $59K | $21K |
| Gross Margin | -460.3% | 75.7% | 87.4% | 97.8% | 83.6% | 73.1% | 93.9% | 85.6% | 240.0% |
| Research and Development | $0 | $9K | $6K | $47K | $59K | $93K | $57K | $46K | $0 |
| Selling, General, and Administrative | $239K | $181K | $337K | $319K | $660K | $1.07M | $756K | $307K | $45K |
| Other | -$36K | $212K | $191K | $296K | $6K | $6K | $2K | $0 | $0 |
| Total Operating Expenses | $204K | $403K | $534K | $661K | $725K | $1.17M | $815K | $353K | $45K |
| Operating Income (EBIT) | -$426K | -$341K | -$496K | -$527K | -$1.08M | -$666K | -$595K | -$294K | -$36K |
| Operating Margin | -881.1% | -423.1% | -1122.4% | -534.7% | -674.1% | -124.6% | -275.9% | -428.1% | -407.3% |
| Interest Expense | $36K | $36K | $22K | $419 | $0 | $11K | $24K | $31K | $0 |
| Interest Income | $0 | $0 | $0 | $2 | $3K | $10K | $18K | $2K | $15K |
| Other Income (Expense) | -$24K | $16K | -$84K | -$39K | -$625K | -$178K | $17K | -$68K | -$18K |
| Income Before Tax (EBT) | -$450K | -$325K | -$580K | -$566K | -$1.71M | -$845K | -$596K | -$362K | -$44K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $24K | $0 | -$69K |
| Net Income | -$450K | -$325K | -$580K | -$566K | -$1.71M | -$845K | -$596K | -$362K | -$44K |
| Net Income Margin | -929.9% | -402.9% | -1312.9% | -574.8% | -1064.1% | -158.0% | -276.5% | -527.3% | -490.6% |
| Supplementary Data | |||||||||
| EPS | -0.02 | -0.01 | -0.03 | -0.03 | -0.08 | -0.04 | -0.05 | -0.03 | -0.00 |
| Diluted EPS | -0.02 | -0.01 | -0.03 | -0.03 | -0.08 | -0.04 | -0.05 | -0.03 | -0.00 |
| Weighted Average OS | 35.60M | 34.98M | 30.32M | 29.37M | 29.37M | 26.67M | 23.24M | 16.12M | 23.15M |
| EBITDA | -$426K | -$288K | -$555K | -$561K | -$1.08M | -$827K | -$593K | -$38K | $0 |
| EBITDA Margin | -881.1% | -357.0% | -1257.5% | -569.5% | -674.1% | -154.7% | -275.1% | -54.6% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $51K | $2K | $35K | $21K | $462K | $271K | $270K | $334K | $198K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $825K | $428K | $1.07M | $0 |
| Cash and Short-Term Investments | $51K | $2K | $35K | $21K | $462K | $1.1M | $698K | $1.41M | $198K |
| Accounts Receivable | $7K | $23K | $4K | $38K | $56K | $36K | $40K | $37K | $9K |
| Inventory | $0 | $21K | $12K | $2K | $3K | $632K | $79K | $18K | $0 |
| Other Current Assets | $0 | $0 | $0 | $5K | $11K | $0 | $0 | $0 | $0 |
| Total Current Assets | $59K | $46K | $53K | $71K | $540K | $1.77M | $859K | $1.51M | $209K |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $0 | $0 | $2K | $4K | $8K | $14K | $20K | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $529K | $433K | $433K | $433K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $0 | $0 | $2K | $4K | $8K | $543K | $453K | $433K | $433K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $59K | $46K | $55K | $75K | $549K | $2.32M | $1.31M | $1.94M | $641K |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $101K | $93K | $40K | $17K | $17K | $73K | $25K | $11K | $15K |
| Short-Term Debt | $202K | $191K | $124K | $16K | $0 | $0 | $164K | $199K | $217K |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $61K | -$199K | $0 |
| Other Current Liabilities | $763K | $13K | $45K | $72K | $6K | $6K | -$27K | -$96K | $0 |
| Total Current Liabilities | $1.1M | $823K | $507K | $121K | $45K | $102K | $258K | $141K | $238K |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $0 | $0 | $13K | $13K | $0 | $0 | $0 | $199K | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$199K | $0 |
| Total Long-Term Liabilities | $0 | $0 | $13K | $13K | $0 | $0 | $0 | $241K | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.1M | $823K | $520K | $134K | $45K | $102K | $258K | $382K | $238K |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $3.27M | $3.22M | $3.18M | $3.05M | $3.05M | $3.05M | $1.38M | $1.35M | $447K |
| Retained Earnings | -$5.47M | -$5.02M | -$4.7M | -$4.12M | -$3.55M | -$1.85M | -$1M | -$406K | -$44K |
| Comprehensive Income & Other | $1.16M | $1.02M | $1.06M | $1.01M | $1.01M | $1.01M | $672K | $612K | $0 |
| Other Stockholders' Equity | $1.16M | $1.02M | $1.06M | $1.01M | $1.01M | $1.01M | $672K | $612K | $0 |
| Total Equity | -$1.04M | -$777K | -$465K | -$59K | $503K | $2.22M | $1.05M | $1.56M | $403K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $59K | $46K | $55K | $75K | $549K | $2.32M | $1.31M | $1.94M | $641K |
| Supplementary Data | |||||||||
| Total Debt | $202K | $191K | $137K | $29K | $0 | $0 | $164K | $199K | $217K |
| Net Debt | $150K | $189K | $102K | $9K | -$462K | -$271K | -$106K | -$135K | $19K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | -$450K | -$325K | -$580K | -$566K | -$1.71M | -$845K | -$596K | -$362K | -$44K |
| Depreciation & Amortization | $0 | $2K | $2K | $5K | $6K | $6K | $2K | $294K | $87K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $29K | -$34K | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $27K | $0 | $0 | $294K | $68K | $16K | $0 |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $15K | -$19K | -$4K | $26K | -$31K | $4K | -$3K | -$27K | -$10K |
| Inventory | $8K | -$8K | -$18K | $580 | $27K | -$553K | -$61K | -$18K | $0 |
| Accounts Payable | $313K | $175K | $247K | $57K | -$57K | $43K | -$70K | $108K | $0 |
| Other Working Capital | $0 | $255K | $3K | $4K | $2K | $30K | $8K | -$76K | $5K |
| Total Working Capital Change | $336K | $227K | $228K | $87K | -$60K | -$475K | -$126K | $14K | -$5K |
| Other Non-Cash Items | $59K | -$31K | $83K | -$4K | $1.13M | $3K | $7K | -$235K | -$81K |
| Net Cash from Operating | -$54K | -$127K | -$240K | -$478K | -$631K | -$987K | -$679K | -$273K | -$43K |
| Investing Activities | |||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | -$96K | -$23K | $0 | -$226K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | -$392K | $0 | -$1.07M | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $825K | $0 | $661K | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.07M | -$542K |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $825K | -$488K | $638K | -$1.07M | -$226K |
| Financing Activities | |||||||||
| Debt Repaid | - | - | -$123K | -$19K | - | - | - | -$275K | - |
| Common Stock Issuance | $104K | $48K | $143K | $14K | $0 | $1.4M | $20K | $1.5M | $462K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | -$11K | $0 | $0 | $133K | -$40K | -$307K | $1.11M |
| Net Cash from Financing | $104K | $95K | $254K | $34K | $0 | $1.46M | -$20K | $1.47M | $462K |
| Forex Effect | -$649 | -$2K | -$133 | $3K | -$3K | $16K | -$3K | $9K | $11K |
| Net Change in Cash | $49K | -$32K | $14K | -$441K | $190K | $1K | -$64K | $136K | $205K |
| Supplementary Data | |||||||||
| Operating Cash Flow | -$54K | -$127K | -$240K | -$478K | -$631K | -$987K | -$679K | -$273K | -$43K |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | -$96K | -$23K | $0 | -$226K |
| Free Cash Flow | -$54K | -$127K | -$240K | -$478K | -$631K | -$1.08M | -$702K | -$273K | -$269K |
| Cash at Beginning | $2K | $35K | $21K | $462K | $271K | $270K | $334K | $198K | -$6K |
| Cash at End | $51K | $2K | $35K | $21K | $462K | $271K | $270K | $334K | $198K |