Cls Holdings Usa, Inc. Reports Earnings Results for the Third Quarter Ended February 28, 2021
April 14, 2021 at 04:51 pm EDT
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CLS Holdings USA, Inc. announced earnings results for the third quarter ended February 28, 2021. For the third quarter, the company announced sales was USD 4.544 million compared to USD 3.224 million a year ago. Operating loss was USD 456,326 compared to USD 526,996 a year ago. Net loss was USD 3.712 million compared to USD 1.251 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.01 a year ago. For the nine months, sales was USD 13.232 million compared to USD 9.139 million a year ago. Operating loss was USD 971,312 compared to USD 1.930 million a year ago. Net loss was USD 5.707 million compared to USD 3.910 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.03 a year ago.
CLS Holdings USA, Inc. is a cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada. The Company's brands include City Trees and Oasis Cannabis. It owns 100% of Alternative Solutions, LLC, a holding company that owns three separate entities with licenses to operate cannabis businesses within the State of Nevada: Serenity Wellness Center, LLC doing business as (dba) Oasis Cannabis (Oasis); Serenity Wellness Growers, LLC dba City Trees Fresh Cannabis Cultivation Wholesale; and Serenity Wellness Products, LLC dba City Trees Fresh Cannabis Production Wholesale. Oasis operates a retail marijuana dispensary nearer to the Las Vegas Strip. The Company's other subsidiaries operate a small-scale cultivation facility, as well as a product manufacturing facility and a wholesale distribution operation in North Las Vegas. Oasis is a 5,000 square foot retail location offering personalized delivery, pick-up, and in-store experiences.
CLS HOLDINGS USA, INC. 
