1933 Industries Reports Profit in Q3 2024 Financials

VANCOUVER, BC / ACCESSWIRE / July 2, 2024 - 1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF), a Nevada-focused cannabis cultivator and producer, has announced its unaudited interim consolidated financial statements for the three and nine months ending April 30, 2024, and 2023. All amounts are in Canadian dollars.

The Company owns 91% of Alternative Medicine Association (AMA), a key supplier in the Las Vegas cannabis market. Offering cannabis flower, pre-rolls, and concentrates, AMA products consistently rank high in Nevada.

Financial highlights for Q3 2024 include total revenues of $4.9 million and a gross profit of $2.3 million. The Company reported a net profit of $0.1 million compared to a net loss of $3.3 million in 2023. Adjusted EBITDA was $0.7 million YTD, compared to a loss of $2.6 million in the previous year.

According to CEO Paul Rosen, strategic measures have optimized cultivation and operational efficiencies, indicating a path toward sustainable profitability. President Ester Vigil highlighted robust sales and consumer loyalty.