1933 Industries Reports Profit in Q3 2024 Financials
1933 Industries Reports Profit in Q3 2024 Financials
VANCOUVER, BC / ACCESSWIRE / July 2, 2024 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTCQB:TGIFF), a Nevada-focused cannabis cultivator and producer, is pleased to announce its unaudited interim consolidated financial statements for the three and nine months ended April 30, 2024 and 2023 ("Q3 2024"). All amounts expressed are in Canadian dollars.
1933 Industries公司(以下簡稱“公司”或“1933 Industries”)(CSE:TGIF)(OTCQB:TGIFF)是一家位於內華達州的大麻種植和生產公司,很高興宣佈其2024年4月30日和2023年4月30日的三個月和九個月未經審計的中期合併財務報表(“Q3 2024”)。所有金額均以加元計。
The Company owns 91% of Alternative Medicine Association (AMA), the Company's cultivation and production subsidiary centred on the medical and adult-use cannabis market. Focusing on quality and value offerings, the Company wholesales cannabis flower, pre-rolls and boutique concentrate products under its proprietary AMA brand to retail accounts in the state of Nevada. AMA branded products consistently rank as top sellers based on volume in the state and the Company is a key supplier in the Las Vegas market.
該公司擁有Alternative Medicine Association(AMA)91%的股權,這是該公司的種植和生產附屬公司,專注於醫用和成年人用大麻市場。公司專注於提供質量和價值的大麻花、預卷和精品濃縮品,使用自有AMA品牌向內華達州的零售客戶批發。 AMA品牌產品在內華達州的銷量一直名列前茅,該公司是拉斯維加斯市場的主要供應商。
Q3 2024 Financial Highlights
2024年Q3財務亮點:
Total revenues of $4.9 million for Q3 and $15.1 million YTD
Gross profit of $2.3 million and $5.4 million YTD
Net profit of $0.1 million compared to a net loss of $3.3 million in 2023
Adjusted EBITDA was an income of $0.7 million YTD compared to a loss of $2.6 million in 2023
Top selling cannabis brand in Nevada [1]
#1 Flower rank
#1 Concentrate rank
#3 Pre-Roll rank
Q3公司總收入爲490萬加元,截至當年九個月爲1510萬加元。
Q3毛利潤爲230萬加元,截至當年九個月爲540萬加元。
2024年度淨利潤爲100,000加元,而2023年度淨虧損爲330萬加元。
已調整的EBITDA截至當年九個月爲70萬加元,而2023年還虧損了260萬加元。
內華達州最暢銷的大麻品牌[1]
#1 Flower rank
#1 Concentrate rank
#3 Pre-Roll rank
Management Commentary
管理層評論
"The increase in revenue, gross margin, and net profit this quarter is a direct result of the strategic measures undertaken over the last year to optimize our cultivation and drive operational efficiencies. While there are always challenges affecting the overall cannabis industry, the Company continues to work towards achieving sustainable profitability, and this quarter was a reliable indication that we are on the right track", said Mr. Paul Rosen, Chairman and CEO of the Company.
“本季度營收、毛利率和淨利潤的增長直接反映了過去一年爲優化我們的種植園和推動業務效率所採取的戰略措施。雖然大麻行業總體上始終面臨着各種挑戰,但公司仍然致力於實現可持續盈利,並且本季度可靠地表明,我們正在正確的道路上。”公司董事長兼首席執行官保羅·羅森先生表示。
"The AMA brand continues to enjoy robust sales in Nevada, with strong brand presence and consumer loyalty. We have been able to achieve this by building trusted relationships with both our customers and our retail clients over the years, and by providing a strong value proposition based on quality, consistency, and high touch customer service", stated Ms. Ester Vigil, President and Director of Sales at 1933 Industries.
1933 Industries的銷售總監和董事Ester Vigil女士表示,“AMA品牌在內華達州持續增長,擁有強大的品牌存在和消費者忠誠度。多年來,我們一直通過與客戶和零售客戶建立可信賴的關係,並提供基於質量、一致性和高質量客戶服務的強大價值主張,從而實現了這一點。”
According to Headset, a business intelligence aggregator for cannabis retailers, AMA "has shown remarkable consistency and dominance in the Nevada market, particularly in the Concentrates category, where it has maintained the top rank for four consecutive months. This consistency in ranking suggests a strong brand presence and consumer loyalty in this category. In the Flower category, the brand experienced a notable improvement, climbing to the number one spot in April 2024 before settling back to the second position in May 2024. This fluctuation indicates competitive dynamics in the Flower market but also highlights the brand's ability to lead in high-demand categories. In the Pre-Roll segment, AMA has maintained a steady third position from February to May 2024, reflecting a stable performance" [2] .
根據大麻零售商商業情報收集器Headset的數據,AMA“在內華達州市場中表現出了非凡的一致性和優勢,特別是在濃縮品類中,已連續四個月排名第一。這種排名的一致性表明了該品牌在該類別中的強大品牌存在和消費者忠誠度。在花類別中,該品牌經歷了顯着的改善,在2024年4月爬升至第一位,然後在5月下降回到第二位。這種波動表明花市場的競爭動態,但也突顯了品牌在高需求類別中的領導能力。在Pre-Roll領域,AMA從2024年2月到5月一直保持穩定的第三位,反映了穩定的表現。
Q3 2024 and Q3 2023 Consolidated Operating Highlights
Q3 2024和Q3 2023合併運營業績亮點
Revenues
收入
In Q3 2024, total revenues were $4.9 million compared to $4.1 million for Q3 2023. The increase in revenues is attributed to the strength of the AMA brand in Nevada, to the upgrades and improvements to the cultivation facility completed in Q4 2023, and to the fair market valuation of biological assets. For the nine months ended April 30, 2024, the Company recorded revenues of $15.1 million compared to $13.3 million during the same period in 2023.
Q3 2024總營收爲490萬加元,而Q3 2023爲410萬加元。營收的增長歸因於AMA品牌在內華達州的實力、在2023年第四季度完成的種植設施升級和改進以及對生物資產的公允價值評估。截至2024年4月30日的九個月內,公司的營收爲1510萬加元,而2023年同期爲1330萬加元。
Gross Profit
毛利潤
The Company generated gross profit of $2.3 million in the current period compared to gross loss of $1.6 million recorded in the prior year comparable period, indicating stable production costs against revenues. Gross margin was 47% in Q3 2024 and a negative gross margin of 39% in Q3 2023. The increase in gross profit was primarily due to a more efficient operation, the upgrading of plant equipment and facility improvements and the fair market value adjustments of biological assets. Gross profit for the nine months ended April 30, 2024 was $5.4 million, compared to a gross loss of $1 million during the same comparable period in 2023.
公司在本期實現了230萬加元的毛利潤,而在去年同期實現了160萬加元的毛虧損,表明其生產成本與收入之間的穩定性。Q3 2024毛利率爲47%,而Q3 2023的毛利率爲39%。毛利潤的增加主要是由於更有效的運營、設備和設施改造以及對生物資產的公允價值調整。截至2024年4月30日的九個月內,公司的毛利潤爲540萬加元,而在2023年同期爲1百萬加元的毛虧損。
Expenses
費用
During the reporting period, expenses were $2.2 million for Q3 2024 compared to $1.8 million for Q3 2023. The increase from the prior year comparable period was primarily due to additional license, taxes and insurance costs in Q3 2024, as well as legal and professional fees, wages and benefits resulting from higher cultivation and production wages. Overall, the Company has made significant progress in reducing operating expenses compared to the prior year comparable period by decreasing general and administration expenses, management and consulting fees and lower share-based compensation.
報告期間的開支爲220萬加元,而Q3 2023爲180萬加元。從去年同期增長主要是由於Q3 2024中的額外許可證、稅費和保險費用,以及符合高種植和生產工資的法律和專業服務、工資和福利。總體而言,公司通過降低總體和管理費用、管理和諮詢費用以及更低的股份報酬來顯着降低了營業費用與去年同期相比。
Net Profit/Loss
淨利潤/淨虧損
Company-wide, Q3 2024 net earnings were $0.1 million for Q3 2024 and comprehensive loss was $31,189. Net loss was $3.4 million and comprehensive loss was $3.2 million in the prior year comparable period. For the nine months ended April 30, 2024, Adjusted EBITDA was an income of $0.7 million compared to a loss of $2.6 million during the same reporting period in 2023. The Company continues to improve margins and control costs, without compromising quality, and will remain focused on revenue growth.
總體而言,Q3 2024淨收益爲100,000加元,全面損失爲31,189加元。而去年同期淨虧損爲340萬加元和綜合淨虧損爲320萬加元。截至2024年4月30日的九個月中,已調整的EBITDA截至報道期內爲70萬加元,而在2023年同期的報告期內爲虧損260萬加元。公司繼續提高利潤率和控制成本,而不損害質量,並將繼續專注於營收增長。
Q3 2024 Key Developments
Q3 2024主要發展
On December 29, 2023, the Company announced the renegotiation of its convertible debentures with an original maturity date of December 31, 2023. Of the total principal of $3,114,000, holders of $3,073,000 agreed to be issued replacement debentures and holders of $41,000 of the convertible debentures were repaid in cash during February 2024. The renegotiated debentures accrue interest at 10% per annum, may be converted into units of the Company and mature on December 31, 2025. Each unit is comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional common share at a price of $0.05 for a period of five years from the date of issuance of the new convertible debentures. Interest in arrears resulting from the original debentures remains payable in cash or may be settled through the issuance of units of the Company at $0.05 per unit.
2023年12月29日,本公司宣佈將轉換期限爲2023年12月31日的可轉換債券進行重新談判。 全部本金總額爲3,114,000美元,其中3,073,000美元的持有人同意發行替換債券,而可轉換債券的4,100美元的持有人則在2024年2月以現金形式得到償還。 重新協商的可轉換債券每年累計十年的利息,可轉換爲公司單位並於2025年12月31日到期。 每個單位由一種普通股和一種普通股購買權組成,其使持有人有權在新的可轉換債券發行之日起的五年內以0.05美元的價格購買另一種普通股。由原始可轉換債券產生的逾期利息仍應以現金支付或可以通過以0.05美元/單位的價格向公司發行單位來解決。
The Company suspended its Canna Hemp CBD consumer packaged goods subsidiary while it assesses the viability of the CBD market going forward. The market demand for hemp-infused CBD products has continued to decrease since the COVID pandemic, primarily due to increased competition, the closure of brick-and-mortar stores, and customers exiting the CBD category. The lack of federal rules on CBD products, and the grey area surrounding the introduction of psychoactive Delta 8 compounds into products under the ambiguity of the Farm Bill continue to erode the traditional CBD market and hinder future growth.
公司暫停了Canna Hemp CBD消費品子公司的業務,同時評估CBD市場的可行性。自COVID大流行以來,大麻注入的CBD產品的市場需求一直在下降,主要是由於競爭加劇,實體店的關閉以及客戶退出CBD類別。由於CBD產品缺乏聯邦規定,並且Delta 8化合物的引入存在法規的灰色地帶,可能迫使農業法案的歧義在該公司的發行產品中持續侵蝕傳統的CBD市場並阻礙未來的增長。
The Company announced that its wholly owned subsidiary, FN Pharmaceuticals, entered into a Membership Interest Purchase Agreement to acquire from the Company's then Executive VP and General Counsel, Caleb Zobrist, his nine percent (9%) of the issued and outstanding membership interests of AMA. Upon successful completion of this transaction, FN Pharmaceuticals would own 100% of the membership interest in AMA. Mr. Zobrist's employment agreement ended in accordance with the term specified therein. There is no guarantee that this transaction will close.
本公司宣佈,其全資子公司FN Pharmaceuticals與公司當時的執行副總裁兼總法律顧問Caleb Zobrist簽訂了一項成員權益購買協議,以獲得Zobrist擁有的AMA已發行和流通成員權益的九成(9%)。成功完成此交易後,FN Pharmaceuticals將擁有AMA的全部成員權益。Zobrist的就業合同已按照其中規定的期限結束。無法保證此交易將關閉。
Subsequent to the reporting period, the Company announced its intention to complete a non-brokered private placement financing consisting of a maximum of 120,000,000 Units, at a price of $0.015 per Unit, for gross proceeds of a maximum of $1,800,000. Each Unit shall consist of one common share in the capital of the Company ("Share") and one Share purchase warrant ("Warrant"), with each Warrant entitling the holder thereof to purchase a Share at an exercise price of $0.05 for a period of five years from the date of issuance. The Company is raising capital and reviewing various strategic options, including, M&A activity, the sale of certain Company assets, and a shift in business focus. These actions are being undertaken to position the Company well for the anticipated rescheduling of cannabis.
在報告期後,本公司宣佈將完成一項非經紀定向增發融資,包括最多120,000,000個單位,價格爲每個單位0.015美元,總募集資金爲最多1,800,000美元。每個單位將包括公司資本中的一種普通股(股份)和一種股票購買權(認股權證),每種認股權證使持有人有權以0.05美元的行權價購買一份股票,在發行新的可轉換債券之日起的五年內有效。該公司正在籌集資金並審查各種戰略選擇,包括M&A業務活動,出售某些公司資產和業務重心的轉移。這些行動正在採取以便爲大麻的預期重新調整做好充分準備。
The Company believes that the changing climate in the United States regarding the proposed reclassification of cannabis as a Schedule III controlled substance, will have an overall positive impact in the industry. It is expected that the US Department of Justice under President Joe Biden will reschedule cannabis as a substance of lower risk, thereby recognizing the potential medicinal benefits of the plant
公司認爲,美國有關將大麻重新分類爲III級管制物質的建議的氣候變化將對該行業產生整體積極影響。預計在總統喬·拜登領導下的美國司法部將重新分類大麻爲更低風險的物質,從而認可該植物的潛在藥用價值。
Financial statements are prepared in accordance with International Financial Reporting Standards. Detailed information regarding the Company's financial results as well as management's discussion and analysis can be found at:
財務報表按照國際財務報告準則編制。公司財務結果的詳細信息以及管理討論和分析可在以下網站找到:
and
和框架。有關詳細信息,請參閱UBS集團報酬報告
In accordance with the continuous disclosure schedule set out by the British Columbia Securities Commission, the Company will release its audited fourth quarter and year-end financial report by November 28, 2024.
根據不間斷披露時間表,由營員哥將地委員會規定,本公司將於2024年11月28日之前發佈其經審計的第四季度和年報財務報告。
About 1933 Industries Inc.
關於1933工業公司
1933 Industries is a Nevada-based licensed producer, focused on the cultivation and extraction of a large portfolio of cannabis consumer products in a variety of formats under its flagship brands, Alternative Medicine Association (AMA) and Level X. Its product offerings are cultivated at the Company's 68,000 sq. ft. indoor facility and marketed directly to retail dispensaries. AMA branded flower, infused pre-rolls, and in-house boutique concentrates consistently rank as the top products sold in Nevada. For more information, please visit
1933 Industries是一家位於內華達州的持牌生產商,專注於以多種格式生產大量大麻消費品,並以其旗艦品牌Alternative Medicine Association (AMA)和Level X作爲其品牌。其產品在公司的68,000平方英尺的室內設施中進行培育和提取,並直接銷售給零售藥房。 AMA品牌的鮮花,注入預捲菸和內部精品濃縮物始終排名內華達州銷售的最佳產品。有關更多信息,請訪問
For further information please contact:
Alexia Helgason, VP, Investor Relations
604-728-4407
alexia@1933industries.com
要了解更多信息,請聯繫:
Alexia Helgason,VP,投資者關係
604-728-4407
alexia@1933industries.com
Paul Rosen, CEO
paul@1933industries.com
Paul Rosen,首席執行官
paul@1933industries.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
加拿大證券交易所及其監管服務提供商(如該術語在加拿大證券交易所的政策中定義)均不承擔對本公告之充分性或準確性的責任。
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on . 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
關於前瞻性聲明的說明:此新聞發佈包含前瞻性聲明。使用“預計”,“繼續”,“評估”,“期望”,“可能”,“將”,“項目”,“應”,“相信”及類似詞語旨在確定前瞻性聲明。儘管本公司認爲基於前瞻性聲明的期望和假設是合理的,但不應對前瞻性聲明給予過多依賴,因爲公司無法確保它們將被證明是正確的。由於前瞻性聲明涉及未來事件和情況,因其性質而言會涉及固有的風險和不確定性。這些聲明僅適用於本新聞發佈之日。由於各種因素和風險(包括本公司披露文件中討論的各種風險因素),實際結果可能與目前預期的結果有所不同。本公司可不時公開更新或修訂任何前瞻性信息,無論是因爲新信息,未來事件或其他原因還是合法原因。
[1]
Northern Superior宣佈Philibert的maiden NI 43-101採礦約束資源評估中,推斷類別擁有1,708,809盎司黃金和指示類別擁有278,921盎司黃金,在1.10g/t的條件下。此外,Northern Superior's在2023年8月8日發佈的新聞稿中提到此次找到黃金儲量。
[2]
[2]
SOURCE: 1933 Industries Inc.
來源:1933工業公司