Rocky Mountain High Brands Inc (RMHB)

[oilsleuth]

Unaudited results for the Three Months Ended 30 June 2021

Sales - net $74,161

Cost of sales $159,838

General and administration expenses $631,727

Loss from operations ($717,404)



As reflected in the accompanying consolidated financial statements, for the six months ended June 30, 2021, the Company had:

Net loss of $1,373,116; and
Net cash used in operations was $169,660

Additionally, at June 30, 2021, the Company had:

Accumulated deficit of $48,966,076
Stockholders’ deficit of $2,062,530; and
Working capital deficit of $4,405,670

We manage liquidity risk by reviewing, on an ongoing basis, our sources of liquidity and capital requirements. The Company has cash on hand of $73,979 at June 30, 2021. Although the Company intends to raise additional debt or equity capital, the Company expects to continue to incur significant losses from operations and have negative cash flows from operating activities for the near-term. These losses could be significant as product and service sales ramp up along with continuing expenses related to compensation, professional fees, development and regulatory are incurred.

The Company has incurred significant losses since its inception and has not demonstrated an ability to generate sufficient revenues from the sales of its products and services to achieve profitable operations. There can be no assurance that profitable operations will ever be achieved, or if achieved, could be sustained on a continuing basis. In making this assessment we performed a comprehensive analysis of our current circumstances including: our financial position, our cash flows and cash usage forecasts for the twelve months ended June 30, 2022, and our current capital structure including equity-based instruments and our obligations and debts.

https://www.otcmarkets.com/otcapi/company/financial-report/314425/content