HERITAGE CANNABIS HOLDINGS CORP.
Shares outstanding 01/31/2020 473,718,024
Q1 2020 Financial Highlights
- Revenue of $4.0 million in Q1 2020 compared to $nil in the three-month period ended January 31, 2019 (“Q1 2019”).
- Gross Margin of $1.5 million in Q1 2020 or 37%, and adjusted Gross Margin, which excludes the impact of excise taxes was 41%.
- Net loss of $2.0 million or $0.01 per common share in Q1 2020 compared to a net loss of $3.8 million or $0.01 per common share in Q1 2019.
- Although the Company is not yet producing positive cash flows from operations, management expects to achieve positive cash flows from operations later this year.
- As at the end of Q1 2020, the Company had a cash position of $9.3 million, including GICs totalling $4.6 million and working capital of $14.8 million compared to $11.5 million in cash at the end of fiscal year 2019 and working capital of $11.7 million.
