Veritas Farms, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 16, 2021 at 09:27 pm
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Veritas Farms, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 559,940 compared to USD 2.209 million a year ago. Operating loss was USD 1.478 million compared to USD 1.179 million a year ago. Net loss was USD 695,946 compared to USD 1.228 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.03 a year ago. For the half year, sales was USD 1.448 million compared to USD 3.363 million a year ago. Operating loss was USD 2.358 million compared to USD 3.498 million a year ago. Net loss was USD 1.850 million compared to USD 3.553 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.09 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. 
