Veritas Farms, Inc. Reports Earnings Results for the Full Year Ended December 31, 2020
April 20, 2021 at 11:05 am
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Veritas Farms, Inc. announced earnings results for the full year ended December 31, 2020. For the full year, the company announced sales was USD 6.225 million compared to USD 7.291 million a year ago. Operating loss was USD 7.462 million compared to USD 11.129 million a year ago. Net loss was USD 7.592 million compared to USD 11.147 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.32 a year ago.
Veritas Farms, Inc. (Veritas Farms) is an agribusiness that is focused on growing, producing, marketing, and distributing quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring phytocannabinoids (collectively, CBD). Veritas Farms owns and operates an approximately 140 acres farm in Pueblo, Colorado, capable of producing over 200,000 proprietary full spectrum hemp plants, which can potentially yield a minimum annual harvest of 250,000 to 300,000 pounds of outdoor-grown industrial hemp. Veritas Farm's products include capsules, gummies, tinctures, lotions, salves, creams, balm sticks, lip balms, and pet chews. It also operates approximately 15,000 square feet of climate-controlled greenhouses to produce a consistent supply of year-round indoor-cultivated hemp. In addition, there is a 10,000 square-foot onsite facility used for processing raw hemp, oil extraction, formulation laboratories, and quality/purity testing.
VERITAS FARMS, INC. 
