Brief: WeedMd Says Q2 Gross Profit Before Changes In Fair Value Was $3.7 Million

Entourage Health

28/08/2019 22:42

Aug 28 (Reuters) - WeedMD Inc  WMD.V :
    * WEEDMD REPORTS SECOND QUARTER 2019 FINANCIAL RESULTS
    * WEEDMD INC - QTRLY NET REVENUES INCREASE TO $8 MILLION
REPRESENTING A QUARTER-OVER-QUARTER INCREASE OF 139%, WITH A
GROSS MARGIN OF 46%
    * WEEDMD INC - WEEDMD HOLDS $29.5 MILLION IN INVENTORY AND
BIOLOGICAL ASSETS AS OF JUNE 30, 2019, AN INCREASE OF $15.6
MILLION OR 113% FROM PRIOR QUARTER.
    * WEEDMD INC - SOLD 1,979 KGS OF DRIED CANNABIS IN Q2,
REPRESENTING AN INCREASE OF 150% FROM PREVIOUS QUARTER
    * WEEDMD INC - QTRLY GROSS PROFIT BEFORE CHANGES IN FAIR
VALUE WAS
$3.7 MILLION, REPRESENTING A 46% GROSS MARGIN COMPARED TO 15% IN
PRIOR QUARTER.

Source text for Eikon:  ID:nGNX25qWmX 
Further company coverage:  WMD.V 

 ((Reuters.Briefs@thomsonreuters.com;))