Americann, Inc. Reports Earnings Results for the Third Quarter Ended June 30, 2021
August 16, 2021 at 04:02 pm EDT
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AmeriCann, Inc. announced earnings results for the third quarter ended June 30, 2021. For the third quarter, the company announced total revenue was USD 584,546 compared to USD 146,569 a year ago. Operating income was USD 125,371 compared to operating loss of USD 291,606 a year ago. Net loss was USD 98,955 compared to USD 489,479 a year ago. For the nine months, total revenue was USD 1.293 million compared to USD 215,950 a year ago. Operating loss was USD 213,502 compared to operating Income of USD 421,557 a year ago. Net loss was USD 905,331 compared to net income of USD 108,422 a year ago. Basic loss per share from continuing operations was USD 0.04.
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. 
