Agritek Holdings, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
September 18, 2019 at 04:52 pm
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Agritek Holdings, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was USD 0 compared to USD 208 a year ago. Operating loss was USD 2.542 million compared to USD 411,695 a year ago. Net loss was USD 2.378 million compared to USD 667,204 a year ago. Basic loss per share from continuing operations was USD 0.24 compared to USD 0.17 a year ago. For the half year, sales was USD 0 compared to USD 228 a year ago. Operating loss was USD 2.710 million compared to USD 879,349 a year ago. Net loss was USD 3.330 million compared to net income of USD 1.202 million a year ago. Basic loss per share from continuing operations was USD 0.42 compared to basic earnings per share from continuing operations of USD 0.32 a year ago. Diluted loss per share from continuing operations was USD 0.42 compared to diluted earnings per share from continuing operations of USD 0.25 a year ago.
Agritek Holdings, Inc. is an investor and operator in the legal cannabis sector. Its business focus is primarily to hold, develop and manage real property. It is focused on three segments of the cannabis market, including real estate investment, intellectual property brands, and infrastructure, with operations in United States, including Florida, Colorado, and California. It invests its capital via real estate holdings, licensing agreements, royalties, and equity in acquisition operations. Its business focus is primarily to hold, develop and manage real property. It produces, brands, and distributes hemp-based products. Its product categories include human ingestible (tinctures, capsules, and gummies), topicals, and pet products. Its products are distributed through its e-commerce Websites www.RehabRx.com, Hemppops.com and third-party ecommerce websites. It provides services to the legal cannabis sectors including dispensary and retail solutions and consumer product solutions.