$IMCC .82 revenue increase
Q2 2022 Highlights
Revenues increased 114% year-over-year to $23.8 million .
Gross profit, before fair value adjustments, was $5.6 million .
Implemented streamlining and restructuring plan in Canada , with expected cash cost savings of approximately $4 million per year, including the sale of SublimeCulture Inc. ("Sublime").
Completed the closure of the Sde Avraham cultivation farm that Focus Medical Herbs Ltd. ("Focus Medical") owned and operated in Israel , with expected cash cost savings of $2.5 million per year, and further centralized operations of recently acquired assets in the country.
