Blueberries Medical Corp. (OTCQB:BBRRF) (CSE:BBM) (FRA: 1OA) the Canadian parent of Blueberries S.A.S., reported its financial results for the year ended December 31, 2021.
2021 Financial Highlights
-
Net loss was CA$5.15 million ($4.02 million) compared to net loss of CA$4.94 million in 2020
-
Total revenue of CA$138,747, an increase of $72,769 (or 110%) in comparison to 2020.
-
Gross profit was a loss of CA$245,453 compared to gross profit of $62,399 in 2020
"2021 was a year of tremendous changes to the cannabis industry, and Blueberries was definitely part of it," stated Facundo Garreton, chairman and CEO, "Due to current market conditions and a decrease in expectations on cannabis industry in general, we were faced with a challenging environment during 2021. Additionally, the cannabis regulations in Colombia has impacted many businesses owned and operated by Canadian and Colombian companies in Colombia. However, the recent changes in Decree 811, that allow the exports of dried flower and CBD derivates from Colombia, has put the company in a strong position in 2022 as the company anticipates growth and improved operation results. The company's team has been focusing on achieving three primary objectives: cash management, establishing processing and extraction capabilities, and laying the groundwork for meaningful commercial sales growth in 2022."
Photo: Courtesy of Blueberries Medical Corp.
Related News
The Week In Cannabis: Pfizer, Visa, $730M+ In Financings, Malta, EU, Columbia Care, MedMen, Uruguay And More
EXCLUSIVE: This Cannabis Company Becomes The First To Have THC, CBD Licenses In Uruguay
Exclusive: LatAm Cannabis Co. Terraflos, Founded By Former Congressman, Closes $8M Seed Funding Round