1933 Industries Reports Fourth Quarter and Annual Financial Results for Fiscal Year 2019 – PRNewswire

The Company reports revenues of $5.2M in Q4 and $18.1M for the year

VANCOUVER, Nov. 28, 2019 /PRNewswire/ – 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 fourth quarter (“Q4”) and audited annual financial results for the period ended July 31, 2019 (“Year End”). All amounts expressed are in Canadian dollars.

Highlights:

Strong balance sheet with a cash position of $17.6 million, a robust increase of 245% over the previous year of $5.1 million, allows the Company to fund capital projects, service its debenture payments and continue to grow its operations Working capital was $22.5 million, compared to $11.0 million at July 31, 2018, representing an increase of 105% 44% year over year increase in revenue, totalling $18.1 million, with a gross margin of $5.3 million 100%-owned Infused Manufacturing (“Infused”) contributed $9.9 million in annual revenues, a 130% increase over the previous year, while 91%-owned Alternative Medicine Association (“AMA”) contributed $8.1 million in total revenues Steady growth across these subsidiaries netted $5.2 million in Q4 revenue, the largest reported quarterly revenue to date Net loss for the year is $19.1 million of which, $5.0 million is attributed to a one-time non-cash impairment write-down of a non-performing subsidiary, $3.4 million in biomass purchases, non-cash share-based compensation of $2.2 million, $1.5 million in interest payments, a one-time non-cash loss on disposal of property and equipment of $1.9 million and a non-cash accretion expense of $1.2 million Adjusted EBITDA loss of $10.1 million, compared to $3.1 million in 2018 Total assets grew by 49% to $61.7 million from $41.3 million at July 31, 2018 Total liabilities were $24.5 million at July 31, 2019, compared to $4.4 million at July 31, 2018, of which $13.0 million of this

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