• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Golden Leaf Holdings Q1'17 Financial Results Breakdown

May 30, 2017

 

Yesterday evening, Golden Leaf Holdings Ltd. (CSE:GLH)(OTC:GLDFF) released and filed their first quarter 2017 financial results. Midway through today's trading, shares of Golden Leaf are mixed (down on the CSE, up on the OTC Markets) on higher than average volume. There are a few highlights of the financials worth noting:

 

  • Revenues for Q1 2017 were $2,259,094 compared to $2,316,688 in Q1 2016.  

  • Cost of Sales rose 11.38% from the year ago quarter to $2,020,695. This was attributable to lower margins on both flower and oil and costs related to relaunching the company's oil processing functions. 

  • Total expenses declined 24.88% from the year ago quarter to $2,155,139. This decrease in total expenses was attributable to decreased general and administrative expenses, an elimination of R&D expense, and lower professional fees. 

  • Comprehensive losses for Q1 2017 amounted to $2,289,730, versus $372,165 in the first quarter a year ago. 

  • Accumulated deficits for the company have risen to $43,800,202 as of March 31, 2017. 

  • Basic and diluted loss per share was $0.02, compared to $0.01 in Q1 2016. 

  • Weighted average common shares outstanding increased to 118,346,097 in Q1 2017 compared to 68,976,253 for Q1 2016. 

 

In addition to the financial highlights, Golden Leaf had some notable operating developments in the quarter. 

 

 

As previously mentioned, shares are currently mixed (down on the CSE, up on the OTC Markets) at the time of writing as markets digest the recent financial results. We'll be watching for any additional color on these results out of the conference call this afternoon and for further developments as Golden Leaf works towards conquering Oregon's extracts market and parts beyond. 

 

Conclusion

 

To learn more about Golden Leaf Holdings Ltd. (CSE:GLH)(OTC:GLDFF), check out the company's marijuana stock profile in our comprehensive marijuana stock database. Be sure to subscribe to one or more of our free newsletters so you never miss an important marijuana update. Also, don't forget to connect with The Daily Marijuana Observer on FacebookTwitter, and Instagram!

 

D/M/O

Read more articles tagged:

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.