Americann, Inc. Reports Earnings Results for the Third Quarter Ended June 30, 2020
August 12, 2020 at 08:09 pm
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AmeriCann, Inc. announced earnings results for the third quarter ended June 30, 2020. For the third quarter, the company announced total revenue was USD 146,569. Operating loss was USD 291,606 compared to USD 510,511 a year ago. Net loss was USD 489,479 compared to USD 556,245 a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.02 a year ago. For the nine months, total revenue was USD 215,950. Operating income was USD 421,557 compared to operating loss of USD 1.388 million a year ago. Net income was USD 108,422 compared to net loss of USD 1.651 million a year ago.
AmeriCann, Inc. is a cannabis company that develops cultivation, processing and product manufacturing facilities. It has provisional licenses to produce cannabis-infused products, including beverages, edibles, topicals and concentrates. It designs GMP-certified cannabis extraction and product manufacturing infrastructure. Its flagship project is the Massachusetts Cannabis Center (MCC), which is being developed on a 52-acre parcel. MCC project is permitted for over 800,000 square feet of cannabis cultivation and processing infrastructure which is being developed in phases to support both the existing medical cannabis and the emerging adult-use cannabis marketplace. The Company, through a 100% owned subsidiary, AmeriCann Brands, Inc., has received two licenses from the Massachusetts Cannabis Control Commission to cultivate cannabis and provide extraction and product manufacturing support to the entire MCC project, as well as to other licensed cannabis farmers throughout regulated market.
AMERICANN, INC. 
