| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Red White & Bloom Brands Inc. (OTCEM:RWBYF) (CSE:RWB) released its financial results for the first quarter ended March 31, 2023, revealing revenue of $27 million, a decrease of 4% compared to 28% million in Q1 2022.
Q1 2023 Financial Highlights
Gross profit was $8.4 million, compared to $9.2 million in Q1 2022.
Gross profit margin was 31% compared to 33% in Q1 2022.
Adjusted EBITDA was $95,391 compared to $1.2 million in Q1 2022.
Loss for the quarter was $9.4 million compared to loss of $11.8 million in Q1 2022.
Q1 2023 Other Highlights
On March 10, 2023, the company entered into a debenture amending agreement with a lender to document US dollar advances made by said lender to the company (the “USD Grid Note”). The USD Grid Note agreement initially provides for an amendment to an existing $5.85 million note for a change in principal with all other terms and conditions remaining the same.
On March 16, 2023, the company appointed Edoardo Mattei as its new CFO.
On March 27, 2023, the company entered into a secured debenture agreement with a lender to document Canadian dollar advances made by said lender to the company (the “CAD Grid Note”), maturing on September 12, 2024; secured by a first priority security interest in, and pledge of the equity ownership interest of the company’s subsidiary; RWB Michigan, LLC. The CAD Grid Note will bear interest at an aggregate rate of 12% per annum, with interest payments on the last day of each month.
Photo by Esteban López on Unsplash
Related News
Red White & Bloom FY22 Revenue Grows 161.6%, Here Is What You Need To Know
Red White & Bloom's Platinum Vape Launches In Arizona
Posted In: CSE:RWB
