mCig (OTCQB:MCIG) reported the filing of its 3rd Quarter financial reports with the SEC. Highlights of the company’s earnings statement includes a 446 percent increase in revenue in the three months ended January 31, 2017 compared to the same quarter in the previous year. Current assets reported are at $1,259,689.
As quoted in the press release:
Highlights of the earnings statement include:
Three months ended January 31, 2017 compared to the three months ended January 31, 2016
- Revenue increased 446% to $1,362,689 compared to $249,641
- Gross profit increased 239% to $288,230 compared to $85,076
- Expenses decreased 27% to $97,052 compared to $133,236
- Cash and cash equivalents increased 422% to $420,888 compared to $80,542
- Current assets increased 1,241% to $1,259,689 compared to $93,930
Three months ended January 31, 2017 compared to the three months ended October 31, 2016
- Revenue increased 120% to $1,362,689 compared to $620,015
- Gross profit increased 31% to $288,230 compared to $220,151
- Expenses decreased 63% to $97,052 compared to $262,437
- Cash and cash equivalents increased 47% to $420,888 compared to $285,812
- Current assets increased 116% to $1,259,689 compared to $583,695
Subsequent actions during this quarter
VitaCig experiences its best month in its history exceeding all of last quarter’s revenue numbers for its segment
MCIG enters into joint venture for expansion of its VITACBD brand.
MCIG expands operations to include new cannabis supplies segment
Grow Contractors expands operation to include Oregon, where it is constructing a new facility.
MCIG completes its first construction project and awaiting clients Certificate of Occupancy
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .