SHF Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:07 pm
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SHF Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 17.6 million compared to net income of USD 0.336344 million a year ago. Basic loss per share from continuing operations was USD 0.4. Diluted loss per share from continuing operations was USD 0.4.
For the six months, net loss was USD 19.02 million compared to net income of USD 0.837944 million a year ago. Basic loss per share from continuing operations was USD 0.55. Diluted loss per share from continuing operations was USD 0.55.
SHF Holdings, Inc. is a service provider to offer compliance, monitoring, and validation services to financial institutions, providing traditional banking services to cannabis, hemp, cannabidiol (CBD), and ancillary operators. Its services include regulatory compliance consulting and software for maintaining Know Your Customer (KYC) and Bank Secrecy Act (BSA) compliance to financial institutions, principally conducted vis-a-vis its financial services platform; the origination, onboarding, verification, and servicing of cannabis-related deposit business for and on behalf of its partner financial institutions; and sourcing, underwriting, servicing, and administering loans issued to cannabis businesses and related entities, which are often also its customers, as well as being customers of its partner financial institutions. Through the Companyâs platform, its financial institution clients can provide cannabis-related businesses (CRBs) with access to traditional financial services.
SHF HOLDINGS, INC. 
