1933 Industries Reports First Quarter 2021 Financial Results – Yahoo Finance

A 60% decrease in net loss and an 80% improvement in adjusted EBITDA bring the Company closer to profitability

VANCOUVER, BC / ACCESSWIRE / December 29, 2020 / 1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE:TGIF)(OTCQX:TGIFF), a vertically integrated cannabis consumer packaged goods company, is pleased to announce its first quarter (“Q1 2021”) financial results for the period ended October 31, 2020. All amounts expressed are in Canadian dollars.

Financial statements are prepared in accordance with International Financial Reporting Standards (IFRS). Detailed information regarding the Company’s financial results as well as management’s discussion and analysis can be found at https://sedar.com/ and https://1933industries.com/.

Q1 2010 Financial Highlights

Fiscal 2020 Consolidated Results

Q1 2021
(Oct 31, 2020)

Q4 2020
(July 31, 2020)

Q1 2020
(Oct 31, 2019)

Revenues

$2,687,516

$2,388,010

$3,881,183

Gross margin

$728,700

$63,177

$2,085,104

Cash balance

$2,044,574

$2,761,542

$14,872,277

Expenses

$3,544,687

$5,426,639

$5,901,402

Net loss

($2,818,577)

($7,236,277)

($3,816,298)

Comprehensive loss

($2,929,123)

($8,426,832)

($3,962,300)

Adjusted EBITDA loss

($1,351,212)

($7,196,520)

($1,827,699)

Basic and diluted loss per share

($0.01)

($0.03)

($0.01)

Total assets

$45,431,525

$46,584,470

$61,358,608

Total liabilities

$26,714,275

$27,132,288

$26,033,715

Equity

$18,717,250

$19,452,182

$35,324,893

Operating Results

During the reporting period, total revenues were $2.7 million, a 13% increase from the previous quarter. The increase

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