PharmaCielo Announces Financial Results for the Second Quarter Ended June 30, 2024
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF) announced financial results for Q2 2024 ended June 30. Key highlights include:
- Revenue increased to $784,000, up from $240,000 in Q1 2024 and $160,000 in Q2 2023
- Adjusted EBITDA loss improved to $592,000, compared to $1,264,000 in Q1 2024 and $2,119,000 in Q2 2023
- Net loss was $2,575,000 or $0.015 per share
- Year-to-date total SG&A expenses reduced by over 38% compared to the same period last year
The company aims to capitalize on global cannabis market opportunities, focusing on high-margin products and cost reduction strategies. PharmaCielo also plans to issue 5,979,496 common shares at $0.1579 per share to satisfy $944,165 in semi-annual interest payments on secured debentures.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF) ha annunciato i risultati finanziari per il secondo trimestre del 2024, terminato il 30 giugno. I principali punti salienti includono:
- I ricavi sono aumentati a $784,000, rispetto ai $240,000 del primo trimestre del 2024 e ai $160,000 del secondo trimestre del 2023
- La perdita EBITDA rettificata è migliorata a $592,000, rispetto ai $1,264,000 del primo trimestre del 2024 e ai $2,119,000 del secondo trimestre del 2023
- La perdita netta è stata di $2,575,000, ossia $0.015 per azione
- Le spese totali SG&A dall'inizio dell'anno sono state ridotte di oltre il 38% rispetto allo stesso periodo dell'anno precedente
L'azienda punta a sfruttare le opportunità nel mercato globale della cannabis, concentrandosi su prodotti ad alto margine e strategie di riduzione dei costi. PharmaCielo prevede inoltre di emettere 5,979,496 azioni ordinarie a $0.1579 per azione per soddisfare i pagamenti di interessi semestrali pari a $944,165 su obbligazioni garantite.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF) anunció los resultados financieros para el segundo trimestre de 2024, finalizado el 30 de junio. Los principales aspectos destacados incluyen:
- Los ingresos aumentaron a $784,000, en comparación con $240,000 en el primer trimestre de 2024 y $160,000 en el segundo trimestre de 2023
- La pérdida ajustada de EBITDA mejoró a $592,000, en comparación con $1,264,000 en el primer trimestre de 2024 y $2,119,000 en el segundo trimestre de 2023
- La pérdida neta fue de $2,575,000 o $0.015 por acción
- Los gastos totales de SG&A acumulados hasta la fecha se redujeron en más del 38% en comparación con el mismo período del año anterior
La empresa tiene como objetivo capitalizar las oportunidades del mercado global del cannabis, centrándose en productos de alto margen y estrategias de reducción de costos. PharmaCielo también planea emitir 5,979,496 acciones comunes a $0.1579 por acción para satisfacer $944,165 en pagos de intereses semestrales sobre debentures garantizados.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF)는 2024년 2분기 재무 실적을 발표했습니다. 이 실적은 6월 30일 기준입니다. 주요 내용은 다음과 같습니다:
- 수익이 $784,000으로 증가했으며, 이는 2024년 1분기의 $240,000 및 2023년 2분기의 $160,000에서 증가한 수치입니다.
- 조정된 EBITDA 손실이 $592,000로 개선 되었으며, 이는 2024년 1분기의 $1,264,000 및 2023년 2분기의 $2,119,000에 비해 개선된 수치입니다.
- 순손실은 $2,575,000 또는 주당 $0.015입니다.
- 올해 연간 SG&A 총비용이 작년 같은 기간에 비해 38% 이상 감소했습니다.
회사는 고수익성 제품과 비용 절감 전략에 중점을 두고 글로벌 대마초 시장 기회를 활용할 계획입니다. PharmaCielo는 또한 담보부 채권에 대한 반기 이자 $944,165를 충당하기 위해 주당 $0.1579의 가격으로 5,979,496주의 보통주를 발행할 계획입니다.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF) a annoncé les résultats financiers pour le deuxième trimestre de 2024, se terminant le 30 juin. Les principaux faits saillants incluent :
- Les revenus ont augmenté à $784,000, contre $240,000 au premier trimestre de 2024 et $160,000 au deuxième trimestre de 2023
- La perte d'EBITDA ajusté s'est améliorée à $592,000, par rapport à $1,264,000 au premier trimestre de 2024 et $2,119,000 au deuxième trimestre de 2023
- La perte nette était de $2,575,000 ou $0.015 par action
- Les dépenses SG&A cumulées depuis le début de l'année ont été réduites de plus de 38 % par rapport à la même période l'année précédente
La société vise à tirer parti des opportunités du marché mondial du cannabis, en se concentrant sur des produits à forte marge et des stratégies de réduction des coûts. PharmaCielo prévoit également d'émettre 5,979,496 actions ordinaires au prix de $0.1579 par action pour satisfaire des paiements d'intérêts semestriels de $944,165 sur des obligations sécurisées.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF) gab die finanziellen Ergebnisse für das zweite Quartal 2024 bekannt, das am 30. Juni endete. Wichtige Höhepunkte sind:
- Der Umsatz erhöhte sich auf $784,000, verglichen mit $240,000 im ersten Quartal 2024 und $160,000 im zweiten Quartal 2023
- Der Verlust des bereinigten EBITDA verbesserte sich auf $592,000, im Vergleich zu $1,264,000 im ersten Quartal 2024 und $2,119,000 im zweiten Quartal 2023
- Der Nettoverlust betrug $2,575,000 oder $0.015 pro Aktie
- Die gesamten SG&A-Aufwendungen seit Jahresbeginn wurden im Vergleich zum gleichen Zeitraum des Vorjahres um über 38% gesenkt
Das Unternehmen zielt darauf ab, die Chancen des globalen Cannabis-Marktes zu nutzen, konzentriert sich auf Produkte mit hohen Margen und Kostensenkungsstrategien. PharmaCielo plant außerdem, 5,979,496 Stammaktien zu einem Preis von $0.1579 pro Aktie auszugeben, um $944,165 an halbjährlichen Zinszahlungen auf besicherte Anleihen zu begleichen.
- Revenue increased significantly to $784,000 in Q2 2024, up from $240,000 in Q1 2024 and $160,000 in Q2 2023
- Adjusted EBITDA loss improved to $592,000 in Q2 2024, compared to $2,119,000 in Q2 2023
- Total SG&A expenses reduced by over 38% year-to-date compared to the same period last year
- No significant capital expenditures required to reach full commercial scale
- Net loss of $2,575,000 in Q2 2024
- Company still operating at a loss with negative Adjusted EBITDA
- Issuance of 5,979,496 common shares for interest payments may lead to dilution
All figures in Canadian dollars ($) unless otherwise specified
Toronto, Ontario and Rionegro, Colombia--(Newsfile Corp. - August 16, 2024) - PharmaCielo Ltd. (TSXV: PCLO) (OTC Pink: PCLOF) ("PharmaCielo" or the "Company"), the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today announced financial results for the second quarter ended June 30, 2024.
Summary Financials - Second Quarter Ended June 30, 2024
| Three months ended | |||
| (000's) | June 30 2024 | March 31, 2024 | June 30 2023 |
| Revenue | |||
| Adjusted EBITDA | ( | ||
| Net Loss | ( | ( | |
| Net Loss per Share | ( | ( | |
| *Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The term Adjusted EBITDA does not have any standardized meaning under IFRS. Therefore, it may not be comparable to similar measures presented by other companies. | |||
For further detailed information and analysis, please see the financial statements and management's discussion and analysis for the period ending June 30, 2024, as posted at sedarplus.ca and pharmacielo.com.
Management Commentary
Marc Lustig, Chairman and CEO of PharmaCielo commented, "The global cannabis market presents significant opportunities, particularly as large consumer and pharmaceutical companies enter the industry. Our company is uniquely equipped to serve these organizations with pharma-grade extracts and dried flower that offer unmatched consistency and a structural cost advantage. While the market is still emerging, our efforts to build a robust sales pipeline focused on our high-margin product portfolio are progressing well. We have successfully reduced 2024 year-to-date total SG&A expenses by over
Interest Shares
Today, PharmaCielo also announced that it intends to issue, subject to the approval of the TSX Venture Exchange, 5,979,496 common shares of PharmaCielo ("Interest Shares"), at an effective price of
The Interest Shares are subject to the balance, if any, of the 4-month statutory hold period applicable to the relevant Debenture under Canadian securities laws.
About PharmaCielo
PharmaCielo Ltd. (TSXV: PCLO) (OTC Pink: PCLOF) is a global company, headquartered in Canada, with a focus on ethical and sustainable cultivating, processing and supply of all natural, pharmaceutical-grade medical dried cannabis flower and cannabis products to large channel distributors. PharmaCielo's principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its cultivation and processing center located in Rionegro, Colombia.
The board of directors and executive team of PharmaCielo are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia's ideal location plays in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.
For further information
Ian Atacan, Chief Financial Officer
+1 416-562-3220
i.atacan@pharmacielo.com
Media and Investor Inquires:
investors@pharmacielo.com
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as "expects", "is expected", "intends", "anticipates", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be completed or achieved. Forward-looking statements in this news release include, without limitation, statements regarding the issuance of the debenture units, including the timing and completion of any future issuances thereof.
The forward-looking statements in this news release are necessarily based on assumptions, including assumptions with respect to PharmaCielo's ability to obtain necessary approvals for the issuance of the debenture units.
Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including changes to PharmaCielo's development plans, the failure to obtain and maintain all necessary regulatory approvals relating to the export of cannabinoid products and the import of these products into other countries, TSX Venture Exchange approval, the inability to export or distribute commercial products through sales channels as anticipated due to economic or operational circumstances, risks associated with operating in Colombia, fluctuation of the market price for the Company's products, risks associated with global economic instability relating to COVID-19 or other developments, risks related to retention of key Company personnel, currency exchange risk, competition in PharmaCielo's market and other risks discussed or referred to under the heading "Risk Factors" in PharmaCielo's Annual Information Form for the financial year ended December 31, 2019, which is available at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, PharmaCielo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220156
FAQ
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