Sugarmade, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2020
February 22, 2021 at 05:21 pm EST
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Sugarmade, Inc. announced earnings results for the second quarter ended December 31, 2020. For the second quarter, the company announced sales was USD 300,652 compared to USD 720,810 a year ago. Operating loss was USD 576,581 compared to USD 6.930 million a year ago. Net loss was USD 1.656 million compared to USD 7.754 million a year ago. Basic eps - continuing operations was USD 0 compared to basic loss per share from continuing operations of USD 0.04 a year ago. For the half year, sales was USD 2.446 million compared to USD 1.474 million a year ago. Operating loss was USD 1.445 million compared to USD 7.872 million a year ago. Net loss was USD 375,189 compared to USD 9.782 million a year ago. Basic eps - continuing operations was USD 0 compared to basic loss per share from continuing operations of USD 0.01 a year ago.
Sugarmade, Inc. is a product and branding marketing company. The Company operates through two segments: paper and paper-based products and cannabis products delivery. The paper and paper-based products segment focuses on supply of disposable products to the quick-service restaurant and as an importer and distributor of non-medical personal protection equipment to business and consumers, via its Carry Out Supplies subsidiary. Carry Out Supplies is a producer and wholesaler of custom printed and generic supplies. The primary products are plastic cold cups, paper coffee cups, yogurt cups, ice cream cups, cup lids, cup sleeves, edible packaging, food containers, soup containers, plastic spoons, and similar products. The Company also focuses on investing in cannabis real estate, cultivation, and wholesale sectors vs. cannabis retail operations. It is also engaged in selected cannabis and hemp projects. Its subsidiaries include SWC Group, Inc., NUG Avenue, Inc., and Lemon Glow Company, Inc.
SUGARMADE, INC. 
