PLPRF - CannabisNewsBreaks - Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Reports Financial Results for Q1 2020
Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis branded products company in the U.S., on Thursday released its unaudited financial and operational results for the three months ended March 31, 2020, expressed in U.S. dollars. Among other highlights, the company reported an increase in net revenues to $4.7 million in Q1 2020, representing a 46% year-over-year growth as compared to Q1 2019, as well as a 36% quarter-over-quarter growth as compared to Q4 2019. “The start of this year came with a number of difficult decisions that were made in order to accelerate our path to cash flow generation,” Jake Heimark, co-founder and CEO of Plus Products, stated in the news release. “The changes we made helped to cut our cash consumption to less than a fifth of what it was last quarter and, critically, doing so did not undermine our core business which grew more than 35% quarter-over-quarter.”
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About Plus Products
PLUS is a cannabis and hemp food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable, beginning with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, California. For more information, visit the company’s website at www.PlusProducts.com.
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