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CLS Holdings USA Inc. Reports Fiscal Year 2024 Third Quarter Performance and Provides Comprehensive Industry Outlook

CLS Holdings USA Inc. Reports Fiscal Year 2024 Third Quarter Performance and Provides Comprehensive Industry Outlook

CLS Holdings USA Inc. 公布2024财年第三季度业绩并提供全面的行业展望
newsfile ·  04/15 09:31

Las Vegas, Nevada--(Newsfile Corp. - April 15, 2024) - CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH), the ''Company'' or ''CLS,'' a diversified cannabis company operating as Cannabis Life Sciences, today announced its financial results for the quarter ending February 29, 2024, and provided a detailed industry analysis in a statement from Chairman and CEO, Andrew Glashow.

内华达州拉斯维加斯--(Newsfile Corp.,2024年4月15日)——CLS Holdings USA, Inc.(场外交易代码:CLSH),“公司” 或 “CLS”,一家名为大麻生命科学的多元化大麻公司,今天公布了截至2024年2月29日的季度财务业绩,并在董事长兼首席执行官安德鲁·格拉肖的一份声明中提供了详细的行业分析。

CEO Andrew Glashow Shares Insights on Industry and Legislative Hurdles

首席执行官安德鲁·格拉肖分享了对行业和立法障碍的见解

In a detailed statement to shareholders, Glashow discussed the persistent challenges faced by the cannabis industry, primarily attributed to the absence of substantial federal legislative changes. He highlighted the company's efforts to navigate these challenges through strategic adjustments and operational improvements.

在致股东的详细声明中,Glashow讨论了大麻行业面临的持续挑战,这主要归因于联邦立法缺乏实质性变化。他强调了公司通过战略调整和运营改善为应对这些挑战所做的努力。

Industry and Legislative Outlook

行业和立法展望

Mr. Glashow provided a critical view of the cannabis industry's standing in political circles, emphasizing the need for federal reforms to address taxation and banking issues that continue to constrain the sector's growth. He acknowledged improvements at the state level, particularly in Nevada, where regulatory advancements have benefited the industry. However, he maintained a cautious stance on the likelihood of significant federal progress in the near term, suggesting that meaningful change might ultimately arise from Supreme Court action in 2025.

格拉斯霍先生对大麻行业在政界的地位提出了批判性看法,强调需要进行联邦改革,以解决继续限制该行业增长的税收和银行问题。他承认州一级的改善,特别是在内华达州,那里的监管进步使该行业受益。但是,他对联邦政府在短期内取得重大进展的可能性保持谨慎立场,认为最高法院在2025年采取的行动最终可能会带来有意义的变化。

Key Points from Fiscal Q3 2024

2024 财年第三季度要点

  • Revenue: The company reported a revenue decrease to $4,926,457, marking a 9.4% dip from the previous year, attributed to broader economic challenges affecting the market.
  • Operational Developments: CLS Holdings underscored progress in its consumption lounge project in Nevada and its expansion into New Mexico and New York, leveraging licensing agreements for its City Trees brand.
  • Financial Health: Despite a challenging quarter, the company achieved positive net cash flow from operating activities of $588,850, for the nine months ending February 29, 2024, reflecting a 158% improvement compared to the same period of the prior year with a negative cash flow of $1,018,583. Along with this improvement, the company has also decreased its total liabilities by $3.2 million compared to the fiscal year end of May 31, 2023.
  • Market Position: The company's market capitalization stood at approximately $4 million, with an enterprise value of $11 million. CLS Holdings remains focused on evaluating opportunities to enhance shareholder value.
  • 收入:该公司报告收入下降至4,926,457美元,比上年下降9.4%,这归因于影响市场的更广泛经济挑战。
  • 运营发展:CLS Holdings强调了其利用City Trees品牌的许可协议在内华达州的消费休息室项目以及向新墨西哥州和纽约州扩张的进展情况。
  • 财务状况:尽管季度充满挑战,但在截至2024年2月29日的九个月中,公司的经营活动净现金流为588,850美元,与去年同期相比增长了158%,负现金流为1,018,583美元。除了这种改善外,与2023年5月31日财年末相比,该公司的总负债还减少了320万美元。
  • 市场地位:该公司的市值约为400万美元,企业价值为1100万美元。CLS Holdings仍然专注于评估提高股东价值的机会。

Looking Forward

向前看

Mr. Glashow reiterated the company's commitment to transparency and active communication with stakeholders, emphasizing the importance of adapting to industry dynamics and regulatory changes.

Glashow先生重申了公司对透明度以及与利益相关者积极沟通的承诺,强调了适应行业动态和监管变化的重要性。

Please click the link for a statement from CEO Andrew Glashow on Fiscal Year 2024 Third Quarter Performance CLS Holdings USA Inc. CEO Statement to Shareholders.

请点击链接查看首席执行官安德鲁·格拉肖关于2024财年第三季度业绩的声明 CLS Holdings USA Inc.首席执行官致股东的声明。

Oasis Cannabis Dispensary and City Trees production facility

绿洲大麻药房和城市树木生产设施

About CLS Holdings USA Inc.

关于 CLS Holdings USA Inc.

CLS Holdings USA Inc. (OTCQB: CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada and plans to expand to other states. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patented proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company's business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation, and consulting services.

CLS Holdings USA Inc.(场外交易代码:CLSH)是一家多元化的大麻公司,通过其在内华达州的Oasis Cannabis子公司充当综合大麻生产商和零售商,并计划扩展到其他州。CLS代表 “大麻生命科学”,以表彰该公司从大麻植物中提取各种大麻素并将其转化为具有更高质量和一致性的产品的专利专有方法。该公司的商业模式包括许可业务、加工业务、加工设施、产品销售、品牌创建和咨询服务。

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Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top cannabis retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas, in combination with its delivery service to residents, allows it to efficiently serve both locals and tourists in the Las Vegas area. In February 2019, it was named "Best Dispensary for Pot Pros" by Desert Companion Magazine. In August 2017, Oasis commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products.

自2015年内华达州药房首次开业以来,Oasis Cannabis一直在拉斯维加斯市场经营一家大麻药房,并被公认为该州顶级大麻零售商之一。其位置距离拉斯维加斯大道和拉斯维加斯市中心仅几步之遥,再加上为居民提供的送货服务,使其能够高效地为拉斯维加斯地区的当地人和游客提供服务。2019年2月,它被《沙漠伴侣》杂志评为 “大麻专业人士最佳药房”。2017年8月,Oasis推出了City Trees品牌的大麻浓缩物和注入大麻的产品,开始在内华达州批发销售大麻。

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X: @OasisCannabis | LinkedIn: @oasiscannabis

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Founded in 2017, City Trees is a Nevada-based cannabis cultivation, production and distribution company that offers a wide variety of products with consistent results. City Trees products are available in numerous dispensaries throughout the state of Nevada, New Mexico, and New York.

City Trees成立于2017年,是一家总部位于内华达州的大麻种植、生产和分销公司,提供种类繁多、效果稳定的产品。City Trees产品可在内华达州、新墨西哥州和纽约州的许多药房购买。

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X: @CityTrees_ | LinkedIn: @citytrees

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Forward-Looking Statements

前瞻性陈述

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and ''forward-looking statements'' as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the ''forward-looking statements''). These statements relate to, among other things, the expected development of our business and joint ventures, results of operations and financial performance, future liquidity, working capital and capital requirements. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. In some cases, you can identify forward looking statements by terminology such as "may," "might," "will," "should," "intends," "expects," "plans," "goals," "projects," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events.

本新闻稿包含适用的加拿大证券立法所指的某些 “前瞻性信息” 和1995年《私人证券诉讼改革法》中定义的 “前瞻性陈述”(统称为 “前瞻性陈述”)。除其他外,这些报表涉及我们的业务和合资企业的预期发展、经营业绩和财务业绩、未来的流动性、营运资金和资本需求。COVID-19 的持续传播可能会对我们的业务、运营和财务业绩产生不利影响,包括我们的种植和加工活动、供应链和销售渠道以及零售药房运营中断,以及总体经济状况恶化,包括可能出现的全国或全球衰退。在某些情况下,您可以通过诸如 “可能”、“可能”、“将”、“应该”、“打算”、“期望”、“计划”、“目标”、“项目”、“预期”、“相信”、“估计”、“预测”、“潜力” 或 “继续” 等术语来识别前瞻性陈述,或者这些术语或其他类似术语的否定词。这些前瞻性陈述只是预测,不确定,涉及大量已知和未知的风险、不确定性和其他因素,这些因素可能导致我们的实际业绩、活动水平或业绩与这些前瞻性陈述所表达或暗示的任何未来业绩、活动水平或业绩存在重大差异。我们无法保证未来的结果、活动水平或绩效。您不应过分依赖这些前瞻性陈述,这些陈述仅代表其发表之日。这些警示性陈述应与我们将来可能发布的任何书面或口头前瞻性陈述一起考虑。除非适用法律要求,否则我们无意更新任何前瞻性陈述以使这些陈述符合这些陈述以反映实际业绩、后来的事件或情况或反映意外事件的发生。

Contact Information:

联系信息:

Corporate:
Chairman and CEO

企业:
董事长兼首席执行官

Andrew Glashow
888-260-7775

安德鲁·格拉斯肖
888-260-7775

Investor Relations:
investors@clsholdingsinc.com

投资者关系:
investors@clsholdingsinc.com

SOURCE: CLS Holdings USA, Inc.

来源: CLS Holdings USA, Inc.

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