Green Organic Dutchman Reports Higher Revenue, Wider Loss For Q2

Canadian cannabis producer Green Organic Dutchman Holdings Ltd TGODF reported its financial results for the second quarter, which included a revenue growth of 20% sequentially.

The company posted a revenue of almost CA$2.90 million ($2.19 million), up by 20% on the quarter. It did not generate any revenue in the same period of the last year.

At the same time, TGOD's net loss expanded to CA$16.42 million from CA$14.73 million last quarter and from CA$9.07 million in the second quarter of 2018. This translates into a second-quarter loss of CA 6 cents per share. The wider loss was on the back of higher sales and marketing costs due to production increase and preparations for product launches later this year.

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The Green Organic Dutchman has an international presence, having operations in Denmark, Jamaica, Poland, Mexico and the U.S.

In Canada, the company has two facilities in Hamilton, Ontario and Quebec under construction that will have a total annual growing capacity of more than 200,000 kilograms.

Earlier this month, Green Organic Dutchman said it had applied to have its stock listed on the NASDAQ market.

The company expects its Hamilton facility to be completed by the end of the third quarter. The start of construction for the larger Quebec facility is expected for the fourth quarter of 2019 and to be completed by 2021.

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