1933 Industries Reports Third Quarter 2021 Financial Results, Records Its First Profitable Quarter and Announces Cultivation Expansion – StreetInsider.com

1933 Industries Reports Third Quarter 2021 Financial Results, Records Its First Profitable Quarter and Announces Cultivation Expansion

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June 29, 2021 7:03 AM EDT
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VANCOUVER, BC / ACCESSWIRE / June 29, 2021 / 1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE:TGIF)(OTCQB: TGIFF), a Nevada-focused cannabis consumer packaged goods company, is pleased to announce its third quarter (“Q3 2021”) financial results for the period ended April 30, 2021. 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/.

Q2 2021 Financial Highlights

Q3 2021

Q2 2021

Q3 2020

Revenues

$3,370,510

$3,406,826

$2,554,067

Gross margin

$2,467,154

$1,694,994

$912,310

Expenses

$1,884,481

$3,104,154

$5,641,997

Net income (loss)

$582,673

($1,409,063)

($4,729,687)

Comprehensive loss

($513,716)

($2,745,087)

($2,915,923)

Adjusted EBITDA (loss)

$1,404,081

($117,741)

($3,145,271)

Basic and diluted loss per share

($0.00)

($0.00)

($0.02)

Cash balance

$5,918,633

$1,687,750

$2,761,542

Total assets

$47,036,485

$43,500,424

$46,584,470

Total liabilities

$19,293,232

$24,656,642

$27,132,288

Total equity

$27,743,253

$18,843,782

$19,452,182

Operating Results

Net income for Q3

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