AmeriCann, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2022
August 15, 2022 at 01:21 pm EDT
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AmeriCann, Inc. reported earnings results for the third quarter and nine months ended June 30, 2022. For the third quarter, the company reported sales was USD 0.797734 million compared to USD 0.584546 million a year ago. Net income was USD 0.162734 million compared to net loss of USD 0.098955 million a year ago. Basic earnings per share from continuing operations was USD 0.01. Diluted earnings per share from continuing operations was USD 0.01.
For the nine months, sales was USD 2.12 million compared to USD 1.29 million a year ago. Net loss was USD 0.346054 million compared to USD 0.905331 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.04 a year ago.
AmeriCann, Inc. is a cannabis company that develops cultivation, processing and product manufacturing facilities. It has provisional licenses to produce cannabis-infused products, including beverages, edibles, topicals and concentrates. It designs GMP-certified cannabis extraction and product manufacturing infrastructure. Its flagship project is the Massachusetts Cannabis Center (MCC), which is being developed on a 52-acre parcel. MCC project is permitted for over 800,000 square feet of cannabis cultivation and processing infrastructure which is being developed in phases to support both the existing medical cannabis and the emerging adult-use cannabis marketplace. The Company, through a 100% owned subsidiary, AmeriCann Brands, Inc., has received two licenses from the Massachusetts Cannabis Control Commission to cultivate cannabis and provide extraction and product manufacturing support to the entire MCC project, as well as to other licensed cannabis farmers throughout regulated market.
AMERICANN, INC. 
