Cannabis Global, Inc. (OTC:CBGL) announced financial and operational performance data for the three months ended February 28, 2022.
"The past six months represents a breakthrough period for Cannabis Global on a relative basis," stated Arman Tabatabaei, CEO of Cannabis Global. "We are beginning to see lift-off on our commercial-stage operational model, with extremely rapid top-line growth, expanded product offerings, better funding terms, and more strategic opportunities. And all of it comes from the foundation we have put in place over recent years with our R&D focus and our strong IP orientation."
Financial Highlights
-
Total revenues for the three months ended Feb 28 were $627k, up 2,330% on a year-over-year basis
-
Total revenues for the six months ended Feb 28 were $1.2M, up 3,860% on a year-over-year basis
-
Cash increased 1,860% year over year to $604k
-
Total assets increased 34% year over year to $15 million
Operational highlights for the period ended Feb 28, 2022
-
Signed definitive agreement with Caliwanna brands for comprehensive marketing and sales integration as well as to acquire Caliwanna cannabis brands
-
Summarily restructured short-term convertible debt to reduce dilution risk and position company on more favorable capital terms
-
Announced intention to apply for additional patent protection for its unique inventions for the creation of nanoparticles and nanofibers made for cannabinoids
-
Laid foundation for the launch of an expanded suite of edibles products
-
Â