John Philpott, Canabo's CEO commented "We are delighted that the company is now cash flow positive and enjoying the fastest rate of growth since inception. We have been working diligently to build a national network of clinics and emphasize the importance of growth within our cannibinoid research partnerships."
Canabo also announced year-over-year increases for the 9 months that ended on July 31st, 2017 in a handful of areas:
82% increase in clinic revenue
154% increase in research revenue
Overall revenue doubled
Clinics have increased from 10 to 19
Patient base has more than doubled, from 10,000 to over 25,000 patients
Canabo setting a record of more than 1270 new patient appointments in August
Canabo physicians seeing in excess of 3,000 new and recheck patients monthly and expecting total patient appointments for fiscal 2017 to exceed 50,000
Shares of Canabo trading on the TSXV closed the day up 42.65% at $0.485 CAD on higher than average trading volume, while shares of Canabo on the OTC markets closed up 21.08% at $0.3463 USD.