Gilla Inc. announced earnings results for the third quarter ended September 30, 2016. For the quarter, the company generated $1,048,474 in revenue through sales of proprietary E-liquid products as compared to $911,595 in revenue during the three month period ended June 30, 2016; a quarter-over-quarter organic revenue growth of 15%. The company's net loss amounted to $1,043,234 as compared to $1,492,225 in second quarter of 2016. The 30% quarter-over-quarter decrease in net loss was attributable to the combined effects of an increase in revenue for third quarter and realization of significant cost savings from the consolidation and integration of operating activities from company's acquisitions over the past year.

Given the expected growth in revenue and cost efficiencies realized, the company reiterates its expectation of achieving a cash flow breakeven run rate by the end of 2016.

Further, the company expects to realize over $15 million in revenue in fiscal 2017 resulting in EBITDA in excess of $5 million for the year.