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revenue generated $395,876 4th quarter VS $275,669 44% increase QoQ in Q3
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revenue generated $671,545 Zero in 2023, zero in 2022
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The cost of goods sold is $134,223 4th quarter VS $144,381 7% reduction in Q3
Seattle, March 22, 2024 /CNW/ – Nevis Brands Inc (CSE: NEVI) (OTCQB: PSCBF) (“Nevis” or the “Company”), a leading provider of cannabis beverage brands, today reported its fiscal 2023 and fourth quarter financial results. November 30th, 2023. Unless otherwise noted, all currency references used in this news release are to Canadian currency.
1 year nevis generated $671,000 Sales and cost of sales $278,604.note that nevis It has only been in operation since July 1, 2023 Year-end financial reporting related to traditional company operations is conducted as Pascal Biosciences Inc. Net loss for the year ended was as follows: November 30, 2023 was $399,772.
About ended quarters November 30, 2023, nevis revenue generated $395,876 It is derived from royalties received from licensees in five states.The cost of goods sold is $134,223.
Management comments:
john cuberThe CEO of Nevis Brands said, “We are pleased to have completed a fiscal year that included a number of costs and expenses related to the transition from our previously owned business, Pascal Biosciences. We're pleased to say that we will continue to be able to better reflect our growth and profitability. nevis It’s on our financial statements,” Kueber said.
Regarding the fourth quarter: “We are pleased to have increased revenue and reduced our cost of goods sold in the fourth quarter. We continue to see revenue growth in the states in which we currently operate, and we look forward to additional revenue from our licensees. We are looking forward to it.''Although it has been secured, it is not contributing to earnings yet at this point. ”
Kueber continued: “Our fourth quarter earnings included nevadacurrently generating revenue, or CaliforniaRecently announced, it is now generating revenue. michigan and missouri With continued revenue growth, controlled cost of goods sold, and the completion of the transition from the Pascal Biosciences business, we are excited about our future performance in 2024. ”
”nevis remains committed to its low capital expenditure model of licensing expansion of its Major brand and continues to grow, expanding from five states to nine in the past six months. We believe that cannabis beverages have reached an inflection point and that the brands currently on the market have staying power and will continue to be a cornerstone of cannabis consumers' consumption habits. “The Major™ brand has an opportunity to grow by expanding into other markets as well as introducing new products not only in beverages but also in other edible products,” he said.
About the Nevis brand
nevis Innovating and developing cannabis products that are consumed by millions of consumers across the country Washington, Oregon, California, colorado, arizona, nevada and Ohio has concluded an agreement to expand to michigan and missouri.Led by our flagship brand Major™ (www. Drinkmajor.com) nevis We partner with leading cannabis product manufacturers and distributors to enhance our product offerings.
Nevis Brands Inc. is listed on the CSE under the symbol “NEVI”, on the OTCQB under the symbol “PSCBF” and on the Frankfurt Stock Exchange under the symbol “8DZ”.
Neither the Canadian Securities Exchange nor its regulatory services provider has reviewed and accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding “Forward-Looking” Information Certain statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information include words such as “expects,” “intends,” “anticipates,” “may,” “suggests” and similar words and phrases. They can be identified by variations or by the use of statements that a particular action is performed. An event or result “could,” “could,” “should,” “would,” “might,” or “will” occur. , or refers to something accomplished. This forward-looking information is provided as of the date of this news release. Forward-looking information reflects the Company's current expectations and assumptions and is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be different. , and may differ materially from anticipated future results, performance or achievements. Expectations expressed or implied by forward-looking information. There is no guarantee that these assumptions will prove to be correct. Forward-looking statements and information are not historical facts and are subject to numerous risks and uncertainties that are beyond our control. Investors should consider the risk factors under the heading “Risks and Uncertainties” in the Company's Form 2A that discuss factors that could cause the Company's actual results, performance or performance to differ materially. recommend to. This Form 2A is available at www.sedar.com. from anticipated future results, performance or achievements expressed or implied by forward-looking information; Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
SOURCE Nevis Brands Inc.
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