TACOMA, WA / ACCESSWIRE / December 22, 2020, / IONIC BRANDS CORP. (CSE:IONC)(OTC PINK:IONKF)(FRA:1B3) (“IONIC BRANDS” or the “Company“), a regional manufacturer of innovative cannabis edibles and concentrate extract products, is pleased to announce that it was reinstated for trading by the Canadian Securities Exchange (CSE) on December 14, 2020. The Company is also pleased to provide a summary of financial results for the year ended December 31, 2019 and the nine months ended September 30, 2020.
IONIC BRANDS ANNOUNCES FIRST EBITDA POSITIVE MONTH IN JUNE 2020
IONIC BRANDS ANNOUNCES FIRST EBITDA POSITIVE QUARTER IN Q3 2020
IONIC BRANDS IMPLEMENTS STATE-OF-THE-ART CANNABIS ERP/MRP TIGUNIA HERB COMMERCE
YEAR ENDED DECEMBER 31, 2019 OVERALL PERFORMANCE
During the year ended December 31, 2019, the Company’s focus was to increase its sales and reduce its operating expenses. For the year ended December 31, 2019, total revenues were $10,287,447, representing an increase of 464% compared to total revenues of $1,822,682 in the prior year. The increase in revenues was primarily due to the Company’s effort in introducing new products and expansion initiatives in the states of Nevada, Oregon, and California.
Summary of 2019 & 2020 Quarterly Results
The following table sets forth selected financial information for the Company for the following quarters. Such information is derived from unaudited financial statements and audited annual financial statements prepared by management in accordance with IFRS. All figures are presented in US dollars, except per share amounts.
September 30, 2020