Healthy Extracts Inc (GRCK)
Sector • Consumer Non Cyclical Industry • Legal Cannabis |
Industry • Legal Cannabis |
Sector • Consumer Non Cyclical |
Healthy Extracts Inc Reports Disappointing Financial Results with a Net Deficit of $-0.579 Million in Q1 2023
company reported first quarter of 2023 operating shortfall of $-0.405188 million
Published May 17 2023 / Modified May 17 2023
CSIMarket Team / CSIMarket.com
Healthy Extracts Inc: Goodbye to Balanced Books, Hello to Net Deficit
The first quarter of 2023 has ended and Healthy Extracts Inc has just released its financial report.
Sadly, the figures do not paint a very pretty picture.
The report shows that the company's books are no longer balanced and have been replaced with a net deficit of $-0.579 million.
This makes for a disappointing result for the company, as compared to the corresponding reporting period last year when the books were balanced.
While the revenue figures show an increase from the same period last year, the sequential drop of -24.88 % in revenue growth cannot be ignored.
Revenue for the first quarter of 2023 was $0.61 million as compared to $0.46 million in the comparable reporting period a year before.
While this may seem impressive at first glance, it is important to note that the revenue growth was not sufficient to prevent the company from slipping into a net deficit.
Furthermore, it is important to examine the reasons behind this drop in revenue.
The report does not provide any specifics, but it is likely that there were some challenges faced by the company during the quarter - perhaps, it faced competition from other players in the market or there was a decrease in demand for the products.
All of these factors combined make for a bearish outlook for Healthy Extracts Inc.
The company is expected to release its next financial results on August 14, 2023.
Until then, it is hard to say whether the company will be able to turn things around and emerge from the net deficit or if it will continue its downward spiral.
Investors may want to be cautious when it comes to investing in this company.
It is important to look beyond just the revenue figures and analyze the underlying factors that are contributing to these numbers.
Without a clear understanding of what is behind the numbers, it is difficult to predict how the company will perform in the future.
In conclusion, the first quarter of 2023 has not been kind to Healthy Extracts Inc.
The company's books are no longer balanced, and there is a net deficit of $-0.579 million.
While revenue has grown from the same period last year, the sequential drop in growth is concerning.
Until the company is able to address the underlying factors contributing to these numbers, investors may want to exercise caution.
The first quarter of 2023 has ended and Healthy Extracts Inc has just released its financial report.
Sadly, the figures do not paint a very pretty picture.
The report shows that the company's books are no longer balanced and have been replaced with a net deficit of $-0.579 million.
This makes for a disappointing result for the company, as compared to the corresponding reporting period last year when the books were balanced.
While the revenue figures show an increase from the same period last year, the sequential drop of -24.88 % in revenue growth cannot be ignored.
Revenue for the first quarter of 2023 was $0.61 million as compared to $0.46 million in the comparable reporting period a year before.
While this may seem impressive at first glance, it is important to note that the revenue growth was not sufficient to prevent the company from slipping into a net deficit.
Furthermore, it is important to examine the reasons behind this drop in revenue.
The report does not provide any specifics, but it is likely that there were some challenges faced by the company during the quarter - perhaps, it faced competition from other players in the market or there was a decrease in demand for the products.
All of these factors combined make for a bearish outlook for Healthy Extracts Inc.
The company is expected to release its next financial results on August 14, 2023.
Until then, it is hard to say whether the company will be able to turn things around and emerge from the net deficit or if it will continue its downward spiral.
Investors may want to be cautious when it comes to investing in this company.
It is important to look beyond just the revenue figures and analyze the underlying factors that are contributing to these numbers.
Without a clear understanding of what is behind the numbers, it is difficult to predict how the company will perform in the future.
In conclusion, the first quarter of 2023 has not been kind to Healthy Extracts Inc.
The company's books are no longer balanced, and there is a net deficit of $-0.579 million.
While revenue has grown from the same period last year, the sequential drop in growth is concerning.
Until the company is able to address the underlying factors contributing to these numbers, investors may want to exercise caution.