1933 Industries in Nevada (CSE TGIF, OTC PINK TGIFF), which has a fiscal year that ended July 31, 2024, reported a loss of only C$600,000. Its 2024 fiscal year ended July 31. Losses in the previous fiscal years were C$14.6 millions.
The company reported a 15% increase in revenue over last year, to C$19.3 Million. Its gross profits were C$2.9M, up from C$1.4M the previous fiscal year.
According to a 1933 press release, this turnaround in financial performance was due to the increased efficiency of cultivation, better market values, and strength of Alternative Medicine Association’s (AMA) branding, resulting in “record revenues for 2024” fiscal year.
In the same fiscal year, 1933 discontinued its Canna Hemp CBD products, claiming that they were a drain on the company’s operational costs due to “the declining CBD market.”
In five working days the company’s financial report for its first quarter of 2025 should be ready, according to 1933.
In the first week of this month, interim CEO Brian Farrell took over after CEO Paul Rosen resigned.
On July 31, 2013, 1933’s total assets were C$16.8 millions, which included C$449 184 in cash. This was compared to C$21.7 Million in liabilities.