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Thursday, 01/12/2023 4:48:36 PM

Thursday, January 12, 2023 4:48:36 PM

Post# of 2035
**NEWS** 1933 Industries Announces First Quarter 2023 Financial Results and Reports Record Revenue of $5.64 Million

Paul Rosen, Chairman and CEO of 1933 Industries commented, "We are pleased to announce measurable operational results. The Company achieved the highest quarterly revenue in the Company's history, recorded positive adjusted EBITDA, and increased gross margins before fair value adjustments, demonstrating that the Company is on the right track. AMA branded products are regularly listed as the top selling cannabis products in Nevada. Strategic relationships with wholesale dispensaries, higher volume of cannabis products and a disciplined approach to reducing expenses have led to a strong quarterly performance. Although competitive wholesale flower pricing pressure continues to impact producers in Nevada, the measures that we have implemented have resulted in significant progress towards executing on our goals."

Happy to see 1933's value strategy is paying off with record sales. Especially when Planet 13 reported a down quarter recently. Tells me customers are looking for value plus quality and 1933 appears to be filling that need. I'll be surprised if someone doesn't buy 1933 now that they are grabbing market share from overpriced overrated competitors who are losing it. Congrats to the team on a great quarter!!!! Happy New Year!!!! GLTA :)

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