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Medical cannabis company cbdMD has reported financial results for its first quarter of fiscal 2024. Operating loss improved to $1.1m compared to $4.1m for the same period in the previous year. Gross profit was flat at around $3.5m, while operating expenses were $4.6m, down from $7.6m in the previous year. Total net sales declined to $5.37m from almost $6m in the corresponding prior-year period. Direct-to-consumer net sales represented 82.3% of total net sales, a decrease from 90% in Q1 2023. On 31 December 2023, cbdMD had total working capital of roughly $1.4m compared to approximately $3.4m on 30 September, with cash on hand dropping to roughly $1.5m from $1.8m over the same period. The Charlotte-based company recently struck a securities purchase agreement with five institutional investors to fund the national rollout of its ATRx Labs functional mushroom products, as well as launching the hempMD and ATRx Labs brands. ....
Alternative Allocations: Alternative Investment Outlook seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
Binance founder and CEO Changpeng Zhao (CZ) has reportedly lost nearly $12 billion from his wealth amid declining crypto trading volumes this year. According… ....
'RHOBH' Star Dorit Kemsley and Husband PK Have No Plans to Separate Despite 'Challenging Years' aceshowbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aceshowbiz.com Daily Mail and Mail on Sunday newspapers.