Medical cannabis company
WeedMD Inc. (TSXV:WMD) (OTCQX:WDDMF) (FSE:4WE) reported Monday its revenue rose by 41% year-over-year, reaching CA$29.4 million ($24.3 million) in 2020.
The Toronto-based company reported its financial results for the 2020 fiscal year revealing gross loss, before changes in fair value, of roughly CA$22 million, compared to a gross profit of CA$4.05 million in 2019.
WeedMD also reported a negative adjusted EBITDA, a non-IFRS measure, of approximately CA$43.6million in 2020, versus a CA$11.9 million loss in the prior year.
As of December 30, the company had CA$22.3 million in cash and cash equivalents.
In 2020, the company harvested a total of 33,751 kg of cannabis, up by 88% year-over-year. The significant increase in kilograms harvested can be attributed to the additional flowering rooms in Strathroy, which became operational over the period.
Supermodel Anne Vyalitsyna is seeking child support from her ex fiancé Adam Cahan, pictured together right, for their daughter Alaska, 5, after her income plummeted during the pandemic.
Supermodel Anne Vyalitsyna is seeking child support from her ex fiancé Adam Cahan, pictured together right, for their daughter Alaska, 5, after her income plummeted during the pandemic.
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