Today, General Cannabis Corp. (OTC:CANN) released their Q3 2016 10-Q for the period ending September 30th, 2016.
According to General Cannabis Corp CEO Robert Frichtel, CANN "had a great third quarter, with 105% revenue growth year-to-date compared to last year, and 37% on a quarterly basis. All of our divisions continue to perform well and we're excited about the progress of newer business initiatives and acquisition opportunities."
Frichtel went on to say that "as a publicly traded leading consolidator in the cannabis industry, we continue to see significant opportunities as additional states legalize medical and adult use marijuana. We have proven our ability to acquire and grow real companies that touch this rapidly expanding industry."
Year over year revenue growth of 105%
Quarter over quarter revenue growth of 37%
Year over year reduction in costs and expenses of 26%
13% reduction in tenant revenues compared to the same quarter in 2015
1,707% increase in other expenses year over year
YTD net losses of -$1.11 per share vs -$0.50 per share last year
For the full 10-Q, be sure to check out the filing here. Also, read CANN's press release here. Never miss an update. Be sure to subscribe to The Daily Marijuana Observer newsletter today!