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GOOD SHROOM REPORTS ITS Q3 FY-2024 FINANCIAL RESULTS
GOOD SHROOM REPORTS ITS Q3 FY-2024 FINANCIAL RESULTS Canada NewsWire MONTRE...
About this update from Mercanto Holdings Inc
[{"type":"text","content":"\n \n \n \n GOOD SHROOM REPORTS ITS Q3 FY-2024 FINANCIAL RESULTS\n \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 \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n June 25, 2024\n \n \n /CNW/ - The Good Shroom Co Inc. (the \"Company\" or \"MUSH\") (TSXV: MUSH), an emerging player in the Canadian cannabis industry which owns and operates a portfolio of brands that include cannabis products and wellness beverages, announces its financial results for the quarter ended\n \n April 30, 2024\n \n . Readers are encouraged to review the financial statements and the accompanying Management's Discussion and Analysis available at\n \n www.sedar.com\n \n .\n \n \n \n \n \n \n \n \n \n \n FINANCIAL HIGHLIGHTS\n \n \n \n \n The Company achieved Q3 gross revenue of\n \n $1,135,991\n \n with trailing 9 months gross revenue of\n \n $3,773,050\n \n .\n \n \n A gross profit of\n \n $264,105\n \n was recorded for the quarter, with trailing 9 months gross profit of\n \n $1,080,407\n \n .\n \n \n Notably, the Company achieved a net quarterly profit of\n \n $30,840\n \n , marking a fifth consecutive quarter of profitability.\n \n \n Cannabis products accounted for 96% of revenue, underscoring the Company's strategic focus on this segment, with wellness beverage sales of\n \n $61,665\n \n . The Company will begin re-focusing its efforts on its wellness beverage line as it now has the capacity to do so.\n \n \n As of\n \n April 30, 2024\n \n , the Company maintained satisfactory working capital of\n \n $658,129\n \n and carried no long-term debt obligations.\n \n \n Importantly, the Company has no outstanding excise taxes owed, demonstrating its commitment to fiscal responsibility.\n \n \n \n \n Growth Strategy\n \n \n \n The Company's approach in\n \n Quebec\n \n is defined by the unique market dynamics where product cycles occur only twice a year, allowing few opportunities annually to expand its portfolio and increase revenue in any one fiscal year. While this limits the immediate ability to introduce new products, its track record in\n \n Quebec\n \n demonstrates its a...