Cannabis Global, Inc. Reports Earnings Results for the Third Quarter Ended May 31, 2021
July 12, 2021 at 05:11 pm
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Cannabis Global, Inc. announced earnings results for the third quarter ended May 31, 2021. For the third quarter, the company announced total revenue was USD 940,491 compared to USD 19,750 a year ago. Operating loss was USD 496,002 compared to USD 1.235 million a year ago. Net loss was USD 2.808 million compared to USD 2.748 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.22 a year ago. For the nine months, total revenue was USD 970,717 compared to USD 29,753 a year ago. Operating loss was USD 1.352 million compared to USD 2.013 million a year ago. Net loss was USD 5.272 million compared to USD 3.896 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.31 a year ago.
Cannabis Global, Inc. manufactures and distributes various cannabis products through its ownership of Natural Plant Extract, Inc. The Company is engaged in developing the Ethos Comply Bag and conducts research and development in the areas of hemp, cannabis, and consumer food goods. It operates and manages Natural Plant Extract of California, Inc. (NPE) which holds two active California cannabis licenses: a Type 7 manufacturing license and a distribution license. These licenses allow NPE to distribute cannabis products in the State of California. These products included several types of cannabis products, including Cannabis flower packaged in various weights, which are sold to California licensed cannabis retailers and distributors; cannabis pre-rolls, which are sold to California licensed cannabis retailers and distributors, and cannabis edible products, which are sold to California licensed cannabis retailers and distributors.
CANNABIS GLOBAL, INC. 
