Welcome to our dedicated page for 1933 Inds news (Ticker: TGIFF), a resource for investors and traders seeking the latest updates and insights on 1933 Inds stock.
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 Inc. (CSE:TGIF)(OTCQB:TGIFF) announced its Q2 2023 financial results for the period ending January 31, 2023. The company reported $3.6 million in revenue, a 13% increase from Q2 2022, and a total of $9.2 million for the first half of the fiscal year, up 52% year-over-year. Expenses significantly decreased by 92% to $0.2 million due to a tax refund. Despite a net loss of $0.4 million, the company achieved positive Adjusted EBITDA of $0.1 million for the second consecutive quarter. Cash reserves improved to $2.9 million from $0.8 million in the prior year. Ester Vigil was appointed as President, enhancing leadership.
1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) reported its Q1 2023 financial results, achieving record revenues of $5.64 million, a 129% increase year-over-year. The gross margin reached $2.0 million, while the company posted an adjusted EBITDA of $0.1 million. Despite a net loss of $1.2 million, management highlights a disciplined cost strategy and ongoing demand for AMA branded products. The results underscore the company's growth trajectory in the cannabis sector, despite facing pressure from competitive pricing.
1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) announced its financial results for Q4 and Fiscal 2022. Revenues rose to $12.54 million, up from $11.98 million in 2021. Expenses increased to $20.21 million, largely due to a one-time goodwill impairment charge. Net loss was $18.07 million, compared to $6.29 million the previous year. The company significantly improved its cannabis yield and stabilized operations, leading to decreased expenses of $1.9 million. With strong growth expected in 2023, 1933 Industries aims to enhance efficiency and profitability.
1933 Industries (CSE:TGIF)(OTCQB:TGIFF) has finalized the sale of a vacant property in Las Vegas for US$2.65 million. Acquired in 2017 for US$1.8 million, this sale will not affect ongoing cultivation operations nearby. Proceeds will enhance working capital and repay part of the Line of Credit, which will remain active for one year. The company specializes in cannabis consumer goods, holding significant stakes in manufacturing subsidiaries.
1933 Industries (CSE:TGIF, OTCQB:TGIFF) has secured a line of credit up to US$1,000,000 from its Chairman and CEO, Paul Rosen. This Loan has an interest rate of 11% per annum and a one-year term, with senior security interests in all company assets as collateral. Withdrawals require approval from the Lender and the interest rate rises to a minimum 2% if repaid early. The funds will support the growth of its cannabis consumer products, including cannabis flower and CBD goods.
FAQ
What is the current stock price of 1933 Inds (TGIFF)?
What is the market cap of 1933 Inds (TGIFF)?
What is 1933 Industries Inc. known for?
What are the proprietary brands of 1933 Industries Inc.?
How does 1933 Industries Inc. differentiate itself in the market?
What strategic initiatives is 1933 Industries Inc. pursuing?
What recent achievements has 1933 Industries Inc. attained?
