PlantX Reports Interim Financial Results for June 2024
PlantX Announces Filing of Interim Financial Statements
PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF), renowned as a leader in the plant-based community, has officially announced the filing of its unaudited condensed interim consolidated financial statements along with management's discussion and analysis for the period ending June 30, 2024.
Financial Highlights for Q1 2024
The company reported gross revenue of $1,299,761 for the three-month period ending June 30, 2024, compared to $2,794,942 in June 2023. This reflects a significant transition in their revenue stream.
In terms of cost management, the cost of goods sold was recorded at $473,728 for the same period, down from $1,687,302 the previous year. This decline indicates effective cost control strategies in a changing market environment.
Furthermore, the net loss for this quarter was $345,611, which is a considerable reduction from $1,722,824 reported in June 2023. This improvement reflects the company's ongoing efforts to optimize operations and enhance financial performance.
Additional Information Access
For those eager to delve deeper into the company’s financial standing, the complete financial statements and management's discussion & analysis for 2024 are accessible on PlantX's website and SEDAR. The company encourages stakeholders to examine these documents to understand their business trajectory better.
About PlantX Life Inc.
PlantX stands at the forefront of the plant-based lifestyle movement by creating an inclusive digital community and providing education on plant-based living. They operate niche online wellness platforms and physical immersive environments.
Notable components of the PlantX ecosystem include Bloombox Club, a plant delivery marketplace serving the UK and EU, and The Locavore Bar and Grill, a unique dining venue that has grown from a food truck to a vibrant restaurant in Squamish, BC.
Recently, PlantX completed a share exchange agreement, securing a 60% ownership stake in VEG House. This move enhances its portfolio within the burgeoning plant-based sector, allowing them to expand their reach and influence.
Through strategic partnerships and collaborations, PlantX aims to dismantle barriers for those interested in adopting a plant-based lifestyle, fostering not just personal health but broader community well-being.
Company Contact Details
For inquiries or further information, you can reach out to Lorne Rapkin, Chief Executive Officer, at (416) 419-1415.
Frequently Asked Questions
What were the financial results for PlantX in Q1 2024?
PlantX reported a gross revenue of $1,299,761, down from $2,794,942 in June 2023, with a significantly reduced net loss of $345,611 compared to $1,722,824 the previous year.
Where can I find PlantX's full financial statements?
The complete financial statements and management's discussion & analysis are available on PlantX's official website and via SEDAR.
What initiatives does PlantX focus on?
PlantX emphasizes creating online wellness communities and unique dining experiences while promoting plant-based living.
How has PlantX's ownership changed recently?
PlantX has recently finalized a share exchange agreement, acquiring a 60% stake in VEG House, enhancing their portfolio in the plant-based market.
Who can I contact for more information about PlantX?
Inquiries can be directed to Lorne Rapkin, the CEO of PlantX, at (416) 419-1415.
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