Tuesday, April 02, 2024 10:37:40 AM
During the years ending December 31, 2023, and 2022, we generated a net income of $921,575 compared to $684,124, an increase of
$237,451 or 35%.
Comparison of the Results of Operations for the year ending December 31, 2023 and 2022.
During the years ending December 31, 2023, and 2022, sales amounted to $1,633,744 and $1,938,030, respectively, a decrease of
$304,286 due to the second harvest process by its affiliate company in late 2023 extending into 2024. Accordingly, management
and licensing fees for the period will be reflected in Q1 and Q2 of 2024. As of December 31, 2024, Net Profit increased from
$684,124 to $921,575, an increase of $ 237,451 or 35%. Free cash flow is consistently reinvested in operations to improve
performance for 2024.
Profit (Loss) from Operations. For the year ending December 31, 2023, our net income was $921,575 compared to a net income
of $684,124 for the year ending December 31, 2022, an improvement of $ 237,451 or 35%. The increase in net income is based on
the continuing optimization of the operation and the focus on higher profit margin products, a decrease in professional fees, and
administration costs. General and administrative expenses decreased from $231,733 to $132,502, a decrease of $99,231, based on
lower general operational expenses and reduced stock-based compensation for consulting services. Professional fees decreased by
$296,519 from $928,400 for the year ending December 31, 2022, to $631,881 for 2023. As of December 31, 2023, the Company has
issued 1,859,979,092 shares of its restricted common stock.
Current assets and Liabilities. As of December 31, 2023, assets increased to $7,735,532, an increase of $1,463,629 compared to
$6,271,903 on December 31, 2022, an increase of 23%. Our assets exceeded our liabilities by $3,113,731. LVVV
https://www.otcmarkets.com/otcapi/company/financial-report/396363/content
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