Americann, Inc. Reports Earnings Results for the First Quarter Ended December 31, 2020
February 17, 2021 at 02:32 am IST
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AmeriCann, Inc. announced earnings results for the first quarter ended December 31, 2020. For the first quarter, the company announced total revenue was USD 271,585 compared to USD 34,691 a year ago. Operating loss was USD 302,578 compared to operating Income of USD 1.217 million a year ago. Net loss was USD 502,284 compared to net income of USD 1.017 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.04 a year ago.
AmeriCann, Inc. is a cannabis company that develops cultivation, processing and product manufacturing facilities. It has provisional licenses to produce cannabis-infused products, including beverages, edibles, topicals and concentrates. It designs GMP-certified cannabis extraction and product manufacturing infrastructure. Its flagship project is the Massachusetts Cannabis Center (MCC), which is being developed on a 52-acre parcel. MCC project is permitted for over 800,000 square feet of cannabis cultivation and processing infrastructure which is being developed in phases to support both the existing medical cannabis and the emerging adult-use cannabis marketplace. The Company, through a 100% owned subsidiary, AmeriCann Brands, Inc., has received two licenses from the Massachusetts Cannabis Control Commission to cultivate cannabis and provide extraction and product manufacturing support to the entire MCC project, as well as to other licensed cannabis farmers throughout regulated market.
AMERICANN, INC. 