1933 Industries Generates $4.6 Million Revenue and Reports Third Quarter Fiscal Year 2019 Financial Results – Yahoo Finance

VANCOUVER, July 2, 2019 /PRNewswire/ – 1933 Industries Inc. (the “Company” or “1933 Industries”) (TGIF.CN) (TGIFF), a vertically integrated cannabis consumer packaged goods company that owns licensed cultivation and manufacturing assets to support its brands, is pleased to announce its Third Quarter Financial Results for the three and nine months ended April 30, 2019 (“Q3”).

CSE: TGIF, OTCQX: TGIFF (CNW Group/1933 Industries Inc.)More

Q3 2019 Selected Financial Information
All amounts expressed are in Canadian dollars.

Consolidated Results

Q3 2019

Q2 2019

Revenues

$4,597,361

$3,720,993

Gross margin

$1,138,442

$2,088,740

Cash balance

$14,691,715

$8,811,807

Net loss

$7,277,021

$2,926,981

EBITDA loss

$6,296,810

$1,267,916

Total assets

$60,756,930

$54,237,227

Results of Operations

Nine Months
Ended

April 30, 2019

Nine Months
Ended

April 30, 2018

Total revenue

$12,814,828

$8,721,690

Gross margin

$4,866,274

$4,153,663

Net loss

$13,423,569

$1,884,099

Comprehensive loss

$12,421,893

$1,463,536

Basic and diluted loss per share

$.06

$.01

Balance Sheet Summary

April 30, 2019

April 30, 2018

Current assets

$19,756,131

$13,398,978

Total assets

$60,756,930

$41,339,616

Current liabilities

$3,968,158

$2,391,088

Total liabilities

$13,831,853

$4,358,119

Total equity

$46,925,077

$36,983,497

 

Management Commentary

Mr. Chris Rebentisch, Chief Executive Officer remarked, “Overall, we are pleased to report strong growth comparatively to our last quarter, driven by rising consumer demand for our AMA cannabis products in Nevada and the impressive growth of our Canna Hemp™ line throughout the United States, which is one of the largest growing cannabis markets globally. Since becoming a publicly-listed issuer two years ago, we have focused on building one

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