CLS Holdings USA Inc. Reports Fiscal Year 2024 Third Quarter Performance and Provides Comprehensive Industry Outlook
CLS Holdings USA Inc. Reports Fiscal Year 2024 Third Quarter Performance and Provides Comprehensive Industry Outlook
Las Vegas, Nevada--(Newsfile Corp. - April 15, 2024) - CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH), the ''Company'' or ''CLS,'' a diversified cannabis company operating as Cannabis Life Sciences, today announced its financial results for the quarter ending February 29, 2024, and provided a detailed industry analysis in a statement from Chairman and CEO, Andrew Glashow.
內華達州拉斯維加斯--(Newsfile Corp.,2024年4月15日)——CLS Holdings USA, Inc.(場外交易代碼:CLSH),“公司” 或 “CLS”,一家名爲大麻生命科學的多元化大麻公司,今天公佈了截至2024年2月29日的季度財務業績,並在董事長兼首席執行官安德魯·格拉肖的一份聲明中提供了詳細的行業分析。
CEO Andrew Glashow Shares Insights on Industry and Legislative Hurdles
首席執行官安德魯·格拉肖分享了對行業和立法障礙的見解
In a detailed statement to shareholders, Glashow discussed the persistent challenges faced by the cannabis industry, primarily attributed to the absence of substantial federal legislative changes. He highlighted the company's efforts to navigate these challenges through strategic adjustments and operational improvements.
在致股東的詳細聲明中,Glashow討論了大麻行業面臨的持續挑戰,這主要歸因於聯邦立法缺乏實質性變化。他強調了公司通過戰略調整和運營改善爲應對這些挑戰所做的努力。
Industry and Legislative Outlook
行業和立法展望
Mr. Glashow provided a critical view of the cannabis industry's standing in political circles, emphasizing the need for federal reforms to address taxation and banking issues that continue to constrain the sector's growth. He acknowledged improvements at the state level, particularly in Nevada, where regulatory advancements have benefited the industry. However, he maintained a cautious stance on the likelihood of significant federal progress in the near term, suggesting that meaningful change might ultimately arise from Supreme Court action in 2025.
格拉斯霍先生對大麻行業在政界的地位提出了批判性看法,強調需要進行聯邦改革,以解決繼續限制該行業增長的稅收和銀行問題。他承認州一級的改善,特別是在內華達州,那裏的監管進步使該行業受益。但是,他對聯邦政府在短期內取得重大進展的可能性保持謹慎立場,認爲最高法院在2025年採取的行動最終可能會帶來有意義的變化。
Key Points from Fiscal Q3 2024
2024 財年第三季度要點
- Revenue: The company reported a revenue decrease to $4,926,457, marking a 9.4% dip from the previous year, attributed to broader economic challenges affecting the market.
- Operational Developments: CLS Holdings underscored progress in its consumption lounge project in Nevada and its expansion into New Mexico and New York, leveraging licensing agreements for its City Trees brand.
- Financial Health: Despite a challenging quarter, the company achieved positive net cash flow from operating activities of $588,850, for the nine months ending February 29, 2024, reflecting a 158% improvement compared to the same period of the prior year with a negative cash flow of $1,018,583. Along with this improvement, the company has also decreased its total liabilities by $3.2 million compared to the fiscal year end of May 31, 2023.
- Market Position: The company's market capitalization stood at approximately $4 million, with an enterprise value of $11 million. CLS Holdings remains focused on evaluating opportunities to enhance shareholder value.
- 收入:該公司報告收入下降至4,926,457美元,比上年下降9.4%,這歸因於影響市場的更廣泛經濟挑戰。
- 運營發展:CLS Holdings強調了其利用City Trees品牌的許可協議在內華達州的消費休息室項目以及向新墨西哥州和紐約州擴張的進展情況。
- 財務狀況:儘管季度充滿挑戰,但在截至2024年2月29日的九個月中,公司的經營活動淨現金流爲588,850美元,與去年同期相比增長了158%,負現金流爲1,018,583美元。除了這種改善外,與2023年5月31日財年末相比,該公司的總負債還減少了320萬美元。
- 市場地位:該公司的市值約爲400萬美元,企業價值爲1100萬美元。CLS Holdings仍然專注於評估提高股東價值的機會。
Looking Forward
向前看
Mr. Glashow reiterated the company's commitment to transparency and active communication with stakeholders, emphasizing the importance of adapting to industry dynamics and regulatory changes.
Glashow先生重申了公司對透明度以及與利益相關者積極溝通的承諾,強調了適應行業動態和監管變化的重要性。
Please click the link for a statement from CEO Andrew Glashow on Fiscal Year 2024 Third Quarter Performance CLS Holdings USA Inc. CEO Statement to Shareholders.
請點擊鏈接查看首席執行官安德魯·格拉肖關於2024財年第三季度業績的聲明 CLS Holdings USA Inc.首席執行官致股東的聲明。
Oasis Cannabis Dispensary and City Trees production facility
綠洲大麻藥房和城市樹木生產設施
About CLS Holdings USA Inc.
關於 CLS Holdings USA Inc.
CLS Holdings USA Inc. (OTCQB: CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patented proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company's business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation, and consulting services.
CLS Holdings USA Inc.(場外交易代碼:CLSH)是一家多元化的大麻公司,通過其在內華達州的Oasis Cannabis子公司充當綜合大麻生產商和零售商,並計劃擴展到其他州。CLS代表 “大麻生命科學”,以表彰該公司從大麻植物中提取各種大麻素並將其轉化爲具有更高質量和一致性的產品的專利專有方法。該公司的商業模式包括許可業務、加工業務、加工設施、產品銷售、品牌創建和諮詢服務。
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Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top cannabis retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas, in combination with its delivery service to residents, allows it to efficiently serve both locals and tourists in the Las Vegas area. In February 2019, it was named "Best Dispensary for Pot Pros" by Desert Companion Magazine. In August 2017, Oasis commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products.
自2015年內華達州藥房首次開業以來,Oasis Cannabis一直在拉斯維加斯市場經營一家大麻藥房,並被公認爲該州頂級大麻零售商之一。其位置距離拉斯維加斯大道和拉斯維加斯市中心僅幾步之遙,再加上爲居民提供的送貨服務,使其能夠高效地爲拉斯維加斯地區的當地人和遊客提供服務。2019年2月,它被《沙漠伴侶》雜誌評爲 “大麻專業人士最佳藥房”。2017年8月,Oasis推出了City Trees品牌的大麻濃縮物和注入大麻的產品,開始在內華達州批發銷售大麻。
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Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production and distribution company that offers a wide variety of products with consistent results. City Trees products are available in numerous dispensaries throughout the state of Nevada, New Mexico, and New York.
City Trees成立於2017年,是一家總部位於內華達州的大麻種植、生產和分銷公司,提供種類繁多、效果穩定的產品。City Trees產品可在內華達州、新墨西哥州和紐約州的許多藥房購買。
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X: @CityTrees_ | LinkedIn: @citytrees
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Forward-Looking Statements
前瞻性陳述
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and ''forward-looking statements'' as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the ''forward-looking statements''). These statements relate to, among other things, the expected development of our business and joint ventures, results of operations and financial performance, future liquidity, working capital and capital requirements. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. In some cases, you can identify forward looking statements by terminology such as "may," "might," "will," "should," "intends," "expects," "plans," "goals," "projects," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events.
本新聞稿包含適用的加拿大證券立法所指的某些 “前瞻性信息” 和1995年《私人證券訴訟改革法》中定義的 “前瞻性陳述”(統稱爲 “前瞻性陳述”)。除其他外,這些報表涉及我們的業務和合資企業的預期發展、經營業績和財務業績、未來的流動性、營運資金和資本需求。COVID-19 的持續傳播可能會對我們的業務、運營和財務業績產生不利影響,包括我們的種植和加工活動、供應鏈和銷售渠道以及零售藥房運營中斷,以及總體經濟狀況惡化,包括可能出現的全國或全球衰退。在某些情況下,您可以通過諸如 “可能”、“可能”、“將”、“應該”、“打算”、“期望”、“計劃”、“目標”、“項目”、“預期”、“相信”、“估計”、“預測”、“潛力” 或 “繼續” 等術語來識別前瞻性陳述,或者這些術語或其他類似術語的否定詞。這些前瞻性陳述只是預測,不確定,涉及大量已知和未知的風險、不確定性和其他因素,這些因素可能導致我們的實際業績、活動水平或業績與這些前瞻性陳述所表達或暗示的任何未來業績、活動水平或業績存在重大差異。我們無法保證未來的結果、活動水平或績效。您不應過分依賴這些前瞻性陳述,這些陳述僅代表其發表之日。這些警示性陳述應與我們將來可能發佈的任何書面或口頭前瞻性陳述一起考慮。除非適用法律要求,否則我們無意更新任何前瞻性陳述以使這些陳述符合這些陳述以反映實際業績、後來的事件或情況或反映意外事件的發生。
Contact Information:
聯繫信息:
Corporate:
Chairman and CEO
企業:
董事長兼首席執行官
Andrew Glashow
888-260-7775
安德魯·格拉斯肖
888-260-7775
Investor Relations:
investors@clsholdingsinc.com
投資者關係:
investors@clsholdingsinc.com
SOURCE: CLS Holdings USA, Inc.
來源: CLS Holdings USA, Inc.