- Revenue of
$2.65 million , up 45% from the previous year quarter endedOctober 31, 2019 ; - Record quarterly Gross Margin of 45.7%
- Strong Positive Adjusted of
$167,637 for the quarter
Financial Summary for the Quarter Ended
- Revenue of
$2.65 million , up 45% from the previous year quarter endedOctober 31, 2019 . - Gross margin of
$1.21M (46%) resulting in 58.6% increase from the prior year period driven by Icanic’s commitment to automation and vertical integration - Adjusted EBITDA of
$167,637 , up from a Negative Adjusted EBITDA of$1,503,270 from the prior year period - Cash and cash equivalents increased by
$651,549 , up 31% from the previous quarter to$2.68 million as ofOctober 31, 2020 .
Management Commentary
Mr.
About
For more information, please visit the company’s website at: www.icaninc.com.
About Ganja Gold
Ganja
For more information about Ganja Gold, visit their website at www.ganjagold.com
Per: | “Brandon Kou” |
Chief Executive Officer |
For further information about
Email: investors@icaninc.com
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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