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Lotus Completes Record Harvests and Reports Profit in Fiscal Year 2020 Results


Lotus Completes Record Harvests and Reports Profit in Fiscal Year 2020 Results
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Lotus Ventures Inc. 
Lotus or the
Company ) the licensed producer that owns Lotus Cannabis, a trusted cannabis brand in Canada is pleased to report approximately $4.6 million in sales and $1.5 million in net income for the twelve-month period ending August 31, 2020.  
Fiscal Year 2020 Business Highlights
Lotus completed
31 harvests during Fiscal Year 2020 ( FY 2020 ) and passed all required third-party laboratory tests. The bulk of production was of our unique, high-quality Kalifornia strain that averaged
24.4% THC and with up to
3% in terpene content.
Lotus started recognizing sales in the Second Quarter of FY 2020 and only recognized three quarters of sales in the FY 2020 Financial Statements. Sales have continued to be strong into the First Quarter of Fiscal Year 2021 ( FY 2021 ). ....

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