PlantX Announces Q1 2021 Financial Results
PlantX Life Inc. (the " Company" or " PlantX") (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce…
VANCOUVER, BC, Aug. 27, 2021 /PRNewswire/ - PlantX Life Inc. (the " Company" or " PlantX") (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce its interim unaudited condensed consolidated financial results for the three months ended June 30, 2021. All amounts are reported in Canadian dollars unless otherwise stated. First Quarter 2021 Highlights
- The Company generated gross revenue of $4,089,705 for the three month period ended June 30, 2021, an increase of $3,956,815 from the gross revenue generated in Q1 2020.
- Cost of sales for the three months ended June 30, 2021 was $2,952,592.
- Net loss was $10,283,084 of which $5,937,614 was the result of share-based compensation and a loss per share of $0.09.
- The Company achieved a gross margin of 28% for the three months ended June 30, 2021, compared to 23% in Q4 2020.
- As of June 31, 2021, the Company had working capital of $14,905,700, inclusive of cash of $13,573,427.
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