The Green Organic Dutchman (TSX: TGOD) has evidently experienced a positive second quarter, with the company this morning boasting preliminary results for the second quarter. The figure reported however was on a gross basis, rather than a net basis.
The firm has reported unaudited preliminary gross revenue of $11.7 million for the second quarter of the year. The result compares to $8.98 million in gross revenue reported for the first quarter, which netted down to $7.7 million in revenues.
The preliminary results are said to be a function of increased Canadian cannabis sales, which grew to $10.3 million for the quarter, a 55% increase on a quarterly basis.
The firm this morning also appointed Gayle Duncan as Chief Growth Officer, whom will be focused on expanding sales and marketing capabilities within North America. The role is newly created at the firm as TGOD looks to drive further revenue for its operation.
Full financial results are slated to be released by the company on August 11, with results to reflect the recent sale of its Valleyfield facility for $27 million among other items.
TGOD last traded at $0.335 on the TSX.
Information for this briefing was found via Sedar and The Green Organic Dutchman. 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.