Top Strike Resources (VENI) AI Stock Analysis

• Market Cap: C$1.39M
• Dividend Yield: N/A
• Average Volume (3M): 78.62K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.68
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: 4
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): >-0.01
• Shares Outstanding: 222,644,960
• 10 Day Avg. Volume: 33,147
• 30 Day Avg. Volume: 78,618
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.30
• Price to Sales (P/S): 0.28
• P/FCF Ratio: -0.84
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: C$0.01 ▲(0.00% Upside)

The score is held down primarily by weak financial performance—sharp revenue reversal, compressed margins, deep losses, and ongoing cash burn—with only moderate balance-sheet leverage as a partial offset. Technicals are flat-to-weak, and valuation is constrained by a loss-making profile (negative P/E). A recent corporate update adds some operational progress on cost control, but financing and losses remain central concerns.

Positive Factors

Market Expansion

Expanding into new markets like New Jersey can increase revenue streams and strengthen the company's competitive position in the cannabis industry.

Operational Efficiency

Improving operational efficiency through cost reductions can lead to better profit margins and financial stability over the long term.

Strategic Partnerships

Strategic partnerships enhance market reach and provide access to new opportunities, potentially driving long-term growth in the cannabis sector.

Negative Factors

Profitability Challenges

Negative margins indicate operational inefficiencies and challenges in achieving profitability, which can affect long-term financial health and investor confidence.

Negative Cash Flow

Negative cash flow suggests liquidity issues, potentially hindering the company's ability to fund operations and invest in growth without external financing.

Declining Revenue

A sharp decline in revenue indicates challenges in maintaining sales growth, which can impact long-term profitability and market position.

Top Strike Resources Business Overview & Revenue Model

Company Description

Vencanna Ventures Inc. engages in the provision of capital for early-stage global cannabis initiatives. The company was founded on October 4, 1989 and is headquartered in Calgary, Canada.

How the Company Makes Money

Top Strike Resources makes money through its strategic investments and partnerships within the cannabis industry. By identifying and investing in promising cannabis ventures, the company aims to generate revenue through the appreciation of its investments and potential dividends from profitable partnerships. Its business model revolves around deploying capital in high-growth segments of the cannabis market, including cultivation, production, and retail, where they can gain significant returns. Key factors contributing to its earnings include the performance of its investment portfolio and market dynamics within the cannabis sector.

Top Strike Resources Financial Statement Overview

Summary

Financials are weak: revenue was highly volatile (surge in 2024 followed by a sharp drop in 2025), margins compressed materially (gross margin ~9.6% in 2025), and losses are severe (2025 net margin near -96%). Cash flow is also problematic with negative operating and free cash flow in 2024–2025, indicating ongoing cash burn. Balance-sheet leverage is not extreme, but shrinking equity and strongly negative ROE (~-104% in 2025) increase risk.

Income Statement

Revenue has been highly volatile—surging in 2024 but dropping sharply in 2025—while profitability deteriorated materially. Gross margin compressed to ~9.6% in 2025 (from ~21.4% in 2024), and the company is deeply unprofitable with 2025 net margin near -96% and large operating losses. The key positive is the prior scale-up in 2024 revenue, but the recent collapse and consistently negative earnings profile weigh heavily on the score.

Balance Sheet

Leverage appears moderate, with debt-to-equity in the ~0.36–0.56 range in 2023–2025, which is not extreme for a small company. However, equity has declined meaningfully since 2024, and returns on equity are strongly negative (worsening to about -104% in 2025), signaling that losses are eroding the capital base. Overall, the balance sheet is not overly levered, but the direction of profitability is a clear risk to balance-sheet stability.

Cash Flow

Cash generation is weak and inconsistent: operating cash flow is negative in most years (including 2024 and 2025), and free cash flow is also negative in 2024 and 2025. While 2022 showed a one-time-looking spike in positive operating and free cash flow, it did not persist, and recent periods indicate ongoing cash burn. A partial offset is that free cash flow losses have sometimes been smaller than accounting losses, but the business still appears reliant on external funding if trends continue.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.95M	4.01M	10.03M	99.47K	248.47K	369.64K
Gross Profit	-735.72K	386.94K	―	98.53K	247.22K	368.58K
EBITDA	-3.44M	-3.03M	―	-631.08K	-495.71K	-1.24M
Net Income	-3.86M	-3.86M	―	-826.96K	-794.51K	-1.46M
Balance Sheet
Total Assets	4.02M	5.61M	11.56M	9.27M	9.75M	10.01M
Cash, Cash Equivalents and Short-Term Investments	184.01K	598.22K	2.55M	5.18M	6.64M	723.94K
Total Debt	672.59K	2.07M	2.71M	2.28M	138.15K	1.58M
Total Liabilities	2.72M	3.57M	5.07M	2.81M	2.47M	2.09M
Stockholders Equity	3.82M	3.71M	7.49M	6.45M	7.28M	7.92M
Cash Flow
Free Cash Flow	-1.09M	-1.33M	-938.34K	―	5.92M	-3.05M
Operating Cash Flow	-749.02K	-926.70K	-765.73K	-1.56M	5.92M	-3.05M
Investing Cash Flow	-336.48K	-440.87K	-383.10K	―	―	0.00
Financing Cash Flow	-345.14K	-560.51K	-126.26K	―	-4.18K	26.92K

Top Strike Resources Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.01
• 50DMA: Negative
• 100DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VENI, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.30 is Neutral, neither overbought nor oversold. The STOCH value of 0.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:VENI.

Top Strike Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
XTRX	45 Neutral	C$1.20M	-0.08	-209.59%	―	-33.88%	-449.86%
VENI	42 Neutral	C$1.39M	-0.48	-73.82%	―	―	―
LFST	41 Neutral	$1.52M	-0.41	-129.49%	―	-98.28%	76.18%

Top Strike Resources Corporate Events

Vencanna Tightens Focus as Nevada Headwinds and New Jersey Exit Shape Interim Results

Vencanna Ventures reported interim financial results for the quarter ended October 31, 2025, highlighting a 26% year-over-year revenue decline to $414,000 but an improved gross loss of $106,000, reflecting cost-of-sales reductions of 36% driven by ongoing efficiency measures and weaker sales. The company is tightening its operational focus amid a soft Nevada market, where tourism fell 8% and cannabis sales dropped 11% over the first nine months of 2025, adding a dedicated Las Vegas sales representative to deepen its retail relationships. Strategically, Vencanna is exiting its New Jersey initiatives, agreeing to sell its 95% interest in Vencanna NJ for up to approximately $1.64 million including potential earnout and reimbursements, and securing a release from a guaranteed lease in Cinnaminson at no additional cost, moves aimed at monetizing non-core interests, reducing obligations and future capital outlays, and concentrating resources on more resilient operations while the broader U.S. cannabis sector awaits potential regulatory changes such as federal rescheduling and banking reform.

The most recent analyst rating on (TSE:VENI) stock is a Hold with a C$0.01 price target. To see the full list of analyst forecasts on Top Strike Resources stock, see the TSE:VENI Stock Forecast page.

Vencanna Ventures to Divest Interest in New Jersey Cannabis Project

Vencanna Ventures Inc. has entered into an agreement to sell its 95% membership interest in Vencanna NJ LLC for $1,250,000, plus additional financial considerations. This strategic move is aimed at reducing the company’s financial obligations and monetizing its interests in New Jersey, a challenging market for new cannabis capital. The proceeds from this transaction will be added to the company’s cash reserves for working capital purposes, signaling a shift in focus away from New Jersey operations.