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Alternate Health - the First Cannabis Company to Report Adjusted EBITDA in Initial First Quarter
Alternate Health - the First Cannabis Company to Report Adjusted EBITDA in Initial First Quarter.
About this update from Alternate Health Corp
[{"type":"text","content":"\n\n\n\nAlternate Health - the First Cannabis Company to Report Adjusted EBITDA in Initial First Quarter\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAlternate Health - the First Cannabis Company to Report Adjusted EBITDA in Initial First Quarter\nPR Newswire\nDALLAS, TX, June 7, 2017\n\n\n\nDALLAS, TX, June 7, 2017 /PRNewswire/ - Dr. Jamison Feramisco — CEO of Alternate Health Corp (CSE:AHG) (OTC:AHGIF), an international medical cannabis company that uses best-in-class technology, research, education, production and laboratories to increase the awareness, regulatory compliance, and appropriate usage of cannabinoids in modern medical practices — today congratulated staff, management and investors on reaching the positive cash flow milestone in the Company's first quarter of operation. \n\n\n \n \n\n \n\"The pace of growth in this company is very promising and I am truly impressed at how far we all have come in less than three months of operations,\" says Dr. Feramisco. \"We are proud to be a profitable medical cannabis company, building shareholder value on real revenues and strategic investments – not just speculation.  We are eager to demonstrate continued growth for the rest of 2017 and beyond.\"\n\nAlternate Health is a fully integrated medical cannabis company, with operations divided among three key business pillars: laboratory services; medical software and regulatory compliance technology, cannabinoid therapy research education; production and delivery systems. In the first quarter, the majority of revenue came from Alternate Health's clinical laboratory testing, through its subsidiary Alternate Health Labs. \n\nThe Company generated $3.87 million in revenue in Q1, with operating expenses totalling $5.04 million. A considerable portion of these expenses were non-recurring, share-based sales incentives targeted at its rapidly growing laboratory business. To better reflect the financial results of the Company in its Q1 earnings release, Alternate Health reported Non IFRS measures including Adjusted (normalized) Net Income of $1.1 million o...