In an earnings statement released by Tweed, the company reported initial revenue of $188,736, all coming in the last two months of the quarter ending June 30.

Operating expenses were down slightly compared with the previous quarter, coming in at $1,134,427. The company said the expenses came from hiring additional staff as well as investing in educational and outreach programs, as well as the necessary government permits. It also invested in developing business and production strategies, and expanded growing operations.

The net loss for the quarter was $1,160,317 for a net loss year-to-date of $3,778,197.

The company has $12,264,190 in working capital as of June 30, compared with $1,817,024 at the start of the year. The company said the increase is due to equity financing raised since then.

Read Full Story On: obj.ca


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