CCC - Body and Mind's Q2 Revenue Flat YoY Narrows Loss By 94% | Benzinga
Body and Mind Inc. (CSE:BAMM) (OTCQB:BMMJ) announced its financial results on Tuesday for the second quarter of fiscal year 2024 ended Jan. 31, 2024, revealing a 94% year-over-year drop in net loss.
The company said that during the quarter it has entered into a definitive agreement to divest its Nevada cultivation and production operations for a total consideration of $2 million to fund its projects in Illinois and New Jersey.
According to CEO Michael Mills these two markets "continue to be underserved and offer significant opportunities for revenue growth as we expand our brand and bring our skilled teams to these new markets.”
“The most recent quarter reflects our work to improve financial performance, improve margins and streamline our operations to support building our operations in Illinois and New Jersey,” Mills said. “Nevada’s wholesale pricing challenges and wholesale tax structure made it difficult ...