Cansortium Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 29, 2022 at 09:20 pm
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Cansortium Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 22.1 million compared to USD 15.57 million a year ago. Net loss was USD 5.58 million compared to net income of USD 7.36 million a year ago. Basic loss per share was USD 0.02 compared to basic earnings per share of USD 0.03 a year ago. Diluted loss per share was USD 0.02 compared to diluted earnings per share of USD 0.03 a year ago.
For the nine months, sales was USD 64.23 million compared to USD 47.15 million a year ago. Net loss was USD 27.73 million compared to USD 22.76 million a year ago. Basic loss per share was USD 0.11 compared to USD 0.1 a year ago. Diluted loss per share was USD 0.11 compared to USD 0.1 a year ago.
Cansortium Inc. is a vertically integrated cannabis company with licenses and operations in Florida, Pennsylvania and Texas. The Company operates under the private label, Fluent. The Company, through its subsidiaries, is licensed to produce and sell medical cannabis in Florida and Texas and is licensed to sell medical cannabis in Pennsylvania. The Companyâs medical cannabis products are offered in oral drops, capsules, suppositories, topicals, syringes, dried flower, pre-rolls, cartridges and edibles and accessories. The Companyâs subsidiaries include Cansortium Holdings LLC, Cansortium Pennsylvania, LLC, Cansortium Puerto Rico, LLC, Cansortium Texas, LLC, Cansortium Canada Holdings Inc., Fluent Servicing, LLC, Cansortium Florida, LLC., Spirit Lake Road Nursery, LLC, Harvest Park Lot 9 Investors LLC, Fluent Hemp LLC and Cansortium Michigan LLC.
CANSORTIUM INC. 
