1933 Industries (CSE: TGIF) (OTC PINK: TGIFF) released financial results for its fiscal second quarter, which ended Jan. 31, telling investors that revenue increased sequentially.
1933’s revenue increased sequentially by 11% to C$4.4m over the first quarterly fiscal period, though it was still lower than fiscal second quarter revenues last year of C$4.5m. This sequential increase was attributed to an improved Nevada cannabis market, and the company’s AMA brand being one of Nevada’s top-five selling brands.
Nevada’s cannabis retail sales have rebounded since the last quarter. The increase in top-line sales is responsible for this. AMA pre-rolls and flower gained share of market and growth during the period reported, and ranked second in terms of volume sold. 1933 released a press release. “AMA’s strong position on the market highlights the brand’s ability to obtain shelf space across dispensaries in California and demonstrates increased customer preference because of its consistency in quality and value.”
The company did note that its subsidiary Infused Mfg was reclassified as discontinued in the period of six months ending January 31, 2024. A key customer had stopped buying products from 1933 and its subsidiary operations were not profitable.
Total expenses fell to C$1.8m for the same period from C$2m in the previous year. Year-to-date, expenses for the fiscal years 2025 and 2024 were C$3.7M, compared to C$4M. This decrease was due primarily to lower wages and benefits.
The net loss was C$300,000. This compares to the C$600,000.00 loss in the fiscal second quarter 2024. As a continuing concern, the company reports its financials. The company reported that it was a going concern.