The Company reported an operating loss of $8,294,982 (
2022 Items Include:
- A non-cash charge of $7,695,000 related to the issuance of stock based compensation
- A charge of $502,074 for the extinguishment of debt
Excluding these items, the Company's adjusted net loss from operations, which is a non-GAAP measure, amounted to $97,908 for the year ended March 31, 2023.
These items include:
November 4, 2022 ----Current management finalized purchase of control block of GRNLFebruary 22, 2023 ----GRNL finalized purchase ofArtinian LLC dba Game Time Watches and Bands giving Company active License Agreements with NFL, NHL, MLB,NASCAR , WWE, and many more iconic names and brands. This purchase enabled the Company to have its shell designation removed onMarch 29, 2023 .May 5, 2023 ----GRNL signed Agreement with noted author/investor Charles Mizrahi to develop a series of podcasts featuring top executives as well as up-and-coming business leaders.May 23, 2023 ----GRNL signed exclusive Consulting Agreement with simulated altitude pioneerDave Vincent to lead GRNL's entry into the altitude training market as well as other related businesses.June 16, 2023 ----GRNL finalized 3 targeted acquisitions giving the Company entry into simulated altitude training, atmospheric water generators, and the health and wellness markets.June 30, 2023 ----GRNL signed multi-year Corporate Partnership Agreement withNew York Jets providing a wide variety of sponsorship, sales, and promotional benefits for the Company's Game Time Watches and BandsJuly 6, 2023 ----GRNL signed Consulting Agreement with Sports Celebrity AgentJaron Hines to help launch GRNL's Game Time Media subsidiary along withCharles Mizrahi ,Jeff DeForrest , and newly hired media firms New to the Street and Lynn Aronberg PR. Hines will also be seeking major celebrity signings for licensing deals, endorsements, podcasting, appearances, social media monetization, sponsorships, and charitable outreach programs,
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate, "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations, and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations, or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the
Non-GAAP Financial Measures
This press release contains a non-GAAP financial measure. The Company believes that, in addition to other financial measures, "Adjusted Net Loss from Operations" is an appropriate indicator to assist in the evaluation of its operating performance on a period-to-period basis. "Adjusted Net Loss from Operations" should be considered as a supplement to, not a substitute for, operating income, net income or other financial performance measures prepared in accordance with
Contact: Lynn Aronberg Public Relations
Email: lynn@lynnaronberg.com
Wire Service Contact:
IBN
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
Source:
2023 GlobeNewswire, Inc., source