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General Cannabis Announces 2019 Second Quarter Results
General Cannabis Announces 2019 Second Quarter Results.
About this update from Trees Corporation
[{"type":"text","content":"\nDENVER, Aug. 12, 2019 (GLOBE NEWSWIRE) -- General Cannabis Corp (OTCQX: CANN) (“General Cannabis” or the “Company”), the comprehensive national resource to the regulated cannabis industry, today announced financial results for the quarter ended June 30, 2019.\n Financial Highlights The following table summarizes our results of operations:  Three months ended June 30,   2019  2018 Percent (Unaudited)ChangeSegment Revenues   Security$507,556 $614,281 (17)%Operations 792,642  402,287 97%Consumer Goods 28,892  97,973 (71)%Investments 27,775  -- 100%  1,356,865  1,114,541 22%    Total costs and expenses 3,843,252  3,605,858 7%Operating loss (2,486,387) (2,491,317)--%    Other expense 408,415  1,177,980 (65)%Net loss$(2,894,802)$(3,669,297)(21)%    Loss per share – Basic and diluted$(0.11)$(0.10)10%  Six months ended June 30,   2019  2018 Percent (Unaudited)ChangeSegment Revenues   Security$1,072,148 $1,166,258 (8)%Operations 1,572,743  708,301 122%Consumer Goods 58,667  182,464 (68)%Investments 42,596  -- 100%  2,746,154  2,057,023 34%    Total costs and expenses 8,463,197  7,714,822 10%Operating loss (5,717,043) (5,657,799)1%    Other expense 1,691,454  2,477,885 (32)%Net loss$(7,408,497)$(8,135,684)(9)%    Loss per share – Basic and diluted$(0.23)$(0.23)--%         “We have surpassed $1 million in revenue for the fifth consecutive quarter, with a 34% increase in year-to-date revenue in 2019 compared to 2018,” said Brian Andrews, Chief Financial Officer of General Cannabis.  “During the first six months of the year, we have increased our focus on securing significant consulting contracts in emerging markets across the country and providing wholesale products to new and existing customers. Both efforts have resulte...