Mindcure Ends Fiscal Q1 2022 With $15.6 Million Cash & Cash Equivalents, $2.8 Million Net Loss

Mind Cure Health (CSE: MCUR) announced on Tuesday the financial results for the three months ended August 31, 2021. The firm ended the quarter with a $2.8 million net loss compared to fiscal Q1 2021’s net loss of $0.3 million.

Among the company’s expenses for the quarter include $1.0 million in consulting fees and payroll, $0.2 million worth of inventory write down, and $0.3 million in share-based payments. The quarterly loss translates to $0.03 per share.

On the other hand, the firm ended the quarter with a cash and cash equivalents balance of $15.6 million. This makes the current assets worth $16.4 million while the current liabilities came in at $1.3 million.

The firm also relayed that it has granted a total of 70,000 stock options to certain employees related to its long-term incentive plan.

Mind Cure Health last traded at $0.29 on the CSE.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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