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1933 Industries Inc. (TGIFF) is a Nevada-based cannabis cultivator and producer engaged in the cultivation and manufacturing of a diverse range of cannabis consumer-packaged goods. The company's proprietary brands, including AMA and Level X, offer wholesale flower, pre-rolls, and extracted products in the Nevada market. In addition, the national CBD brand, Canna Hemp™, provides wellness products like tinctures, gummies, and topicals. With a focus on optimizing operational efficiencies and increasing cultivation yields, 1933 Industries continues to innovate and adapt to market trends.
1933 Industries (OTC:TGIFF) reported its Q1 2025 financial results, showing mixed performance amid challenging market conditions in Nevada. The company generated revenue of $4.0 million, down from $5.2 million in Q1 2024, with the decline attributed to soft sales and falling flower prices across Nevada.
Key financial metrics include a gross profit of $1.3 million (vs $1.6 million in Q1 2024), improved gross margin of 33% (vs 31% in Q1 2024), and a net loss of $0.58 million (compared to $0.38 million loss in Q1 2024). Operating expenses decreased to $1.9 million from $2.0 million year-over-year.
The company's Alternative Medicine Association (AMA) brand achieved a notable #3 ranking among Nevada's most sold cannabis brands by volume, demonstrating resilience despite market price compression. Nevada's retail cannabis sales showed significant decline, falling 23% from $78 million in August to $59.8 million in September 2024.
1933 Industries reported record revenues of $19.3 million for fiscal year 2024, marking a 15% increase year-over-year. The company significantly improved its financial performance with:
- Gross profit of $2.9 million, compared to a loss of $1.4 million in 2023
- Increased gross margin by 14%
- Reduced net loss to $0.6 million from $14.6 million in 2023
The Nevada-focused cannabis cultivator, through its 91%-owned subsidiary Alternative Medicine Association (AMA), has established itself as a top-selling cannabis brand in Nevada. The company's improved performance stems from operational efficiency, optimized cultivation, and fair market valuation of biological assets. During the period, the company discontinued its Canna Hemp CBD subsidiary due to declining market conditions.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis cultivator and producer, has announced key leadership changes effective February 1st, 2025. Jeremy Fong, a Certified Public Accountant with extensive experience in public company financial reporting and compliance, has been appointed as Chief Financial Officer. His background includes executing corporate operational audits and financial statement disclosure for NASDAQ-listed and Fortune 1000 companies.
The current CFO, Brian Farrell, will transition to the roles of Interim Chief Executive Officer and Interim Chairman of the Board. Additionally, Kathy Estochin, who has led the company's Finance Department since 2020, has been promoted to VP Finance and Administration, bringing over 35 years of accounting experience across various industries.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis company, announced it will not meet the January 27, 2025 deadline for filing its audited financial statements for the year ended July 31, 2024, and expects to receive a Cease Trade Order. The company had previously obtained a Management Cease Trade Order (MCTO) on November 29, 2024, restricting trading by key executives including CEO Paul Rosen, CFO Brian Farrell, and Director Curtis Floyd.
The company anticipates completing the required Audited Filings in February 2025, after which the Cease Trade Order should be lifted. Additionally, the Q1 2025 financial report for the period ended October 31, 2024, will be delayed until after the completion of the Audited Filings. The company confirms no material changes or insolvency proceedings since their previous announcement.
1933 Industries (CSE:TGIF)(PINK:TGIFF) provided an update regarding its delayed filing of audited financial statements for the year ended July 31, 2024. The British Columbia Securities Commission granted a management cease trade order (MCTO) on November 29, 2024, restricting trading by key executives until the filings are complete, expected by January 27, 2025.
The company also announced that CEO Paul Rosen will step down effective February 1st, 2025, though remaining on the Board of Directors. Current CFO Brian Farrell, who has served on the Board since 2018, will assume the role of Interim CEO. Under Rosen's leadership since 2020, the company achieved profitability for the first time by restructuring debt, reducing workforce, and enhancing management. The company's 'AMA' brand is now among Nevada's top-selling cannabis brands.
The Q1 2025 financial report will be delayed until after the completion of the Audited Filings.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) provided an update regarding its delayed filing of audited financial statements for the year ended July 31, 2024. The British Columbia Securities Commission granted a Management Cease Trade Order (MCTO) on November 29, 2024, restricting trading by key executives until the filings are complete. The company expects to finalize the Audited Filings by January 27, 2025.
During this period, shareholders can continue trading, but an insider trading blackout has been imposed. The Q1 2025 financial report for the period ended October 31, 2024, will be delayed until after the completion of the Audited Filings. The company confirmed no material changes or defaults since the initial announcement and is not subject to insolvency proceedings.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) provides an update regarding its management cease trade order (MCTO) for delayed filing of audited financial statements for the year ended July 31, 2024. The British Columbia Securities Commission granted the MCTO on November 29, 2024, restricting trading by key executives until the filings are completed. The company expects to finalize the Audited Filings by January 27, 2025.
The Q1 2025 financial report will be delayed until after the Audited Filings are submitted. Additionally, the company's Alternative Medicine Association (AMA) brand has received a LeafLink List 2024 award for Top Selling in Nevada, based on performance data from January to September.
1933 Industries, a Nevada-focused cannabis cultivator, has filed for a Management Cease Trade Order (MCTO) with the British Columbia Securities Commission due to its inability to file its audited annual financial statements for the year ended July 31, 2024, by the November 28, 2024 deadline. The delay stems from unsuccessful audit fee negotiations with its existing auditor, although an agreement has now been reached. The audit is expected to be completed by January 27, 2025. The MCTO restricts trading by key executives but does not affect non-insider investors. The company will issue bi-weekly updates until the filings are completed and confirms no other defaults or insolvency proceedings.
1933 Industries, a Nevada-focused cannabis cultivator and producer, has announced that its common stock has been moved from the OTCQB Market to the OTC Pink Open Market. This transition occurred because the company no longer meets the minimum closing bid price standards required for continued eligibility on the OTCQB. Despite this change, the Pink Open Market still provides brokers with a regulated platform for transparent trading of 1933 Industries' stock.
1933 Industries (CSE:TGIF, OTCQB:TGIFF), a Nevada-focused cannabis cultivator and producer, has announced the resignation of Mr. Rick Skeith from its Board of Directors, effective immediately. Mr. Skeith had been serving as a director of the company since 2015. The company expressed gratitude for his valuable contributions during his tenure and extended best wishes for his future endeavors. This change in the board composition marks a significant development for 1933 Industries, potentially impacting its governance structure and strategic direction.
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