Become A Featured Company

Captor Capital Reports $32,737,461 in Revenues and 132 percent Increase in Gross Profits in Annual Audited Financial Statements for the Year Ended March 31, 2022

Ryan Allway

August 2nd, 2022

News, Top News

Revenues of $32,737,461 vs. $16,217,410 for previous financial year

Gross Profit of $12,307,212 vs. $5,296,974 for previous financial year

 

 

TORONTO, Aug. 02, 2022 (GLOBE NEWSWIRE) — Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMVA; STUTTGART: NMVA), (“Captor” or the “Company”), is pleased to announce today the release of its Audited Annual Financial Statements and MD&A for the year ended March 31, 2022. For the twelve months from April 1, 2021 to March 31, 2022 revenues from the sale of cannabis at the Company’s California dispensary network were $32,737,461, with the Company recording a gross profit of $12,307,212. Revenues from cannabis sales were up $16,520,051 (102%) from the previous fiscal year, while gross profit was up $7,010,238 (132%), in the face of a competitive and challenging retail cannabis environment.

 

 

“We have maintained our focus on profitability for the fiscal year. I am proud of our leadership in Captor Retail Group (CRG), Adam Wilks, Matthew Emory and Wayne Lipschitz, as we increased our store count, revenue and gross profits in California and continued our path to realize our goal in making CRG one of California’s premier cannabis retail operators,” said Captor Capital CEO John Zorbas. “Sustainable profitability remains our ethos as we manage all challenges and expenses effecting the cannabis sector. Our leadership team is keen to the opportunities ahead and I am confident their operational expertise will navigate us to our goals. While we have achieved significant growth in both revenue and profits this past year, it is our continued belief that these investments will continue to bear significant fruit as we utilize the full resources and capabilities of each of our locations.”

 

Financial Statement Highlights

On a quarter-by-quarter basis, revenues continue to increase. During the three months ended March 31, 2022, the Company recorded revenues of $9,103,528 from the sale of cannabis at its retail dispensaries compared to $8,404,525 in the previous quarter and $4,337,656 during the three months ended March 31, 2021.

 

As of March 31, 2022, the Company has assets of $56,416,523, as compared to assets of $60,310,334, on March 31, 2021.

 

The Company’s net loss increased from ($0.15) per share for the fiscal year ended March 31, 2021, to ($0.28) per share for the fiscal year ended March 31, 2022.

 

Management Commentary

Captor Retail Group has committed to increasing gross profit and has done so successfully through growth and expansion in a challenging environment. The Company entered fiscal 2021 with six retail dispensaries and has since successfully added three new retail locations. Captor has gone from a staff of 20 to more than 150 full-time and part-time employees and the executive team has proven fit in developing operational talent as the Company focuses on top line revenues and sustainable profitability.

 

Increasing the retail footprint from six to nine locations and subsequently increasing retail revenue has not come without an investment from the Company. Aggressive expansion and a continued commitment to revenue growth have resulted in a variety of one-time charges for the Company that include, but are not limited to, the cost of acquiring leases, salaries of those involved in expansion, organizational costs of such M&A activity and overall G&A. In addition, the Company endured the ever-present federal regulatory challenges that accompany the cannabis sector. Successfully growing from six to nine retail dispensaries, while managing new store construction, systems integration, and the hiring processes that seemed exacerbated with continued Covid-19 guidelines, is a testament to the leadership and management team that Captor has developed.

 

Captor remains confident the cannabis portfolio will optimize purchasing power, streamline supply chains, and centralize business activities in the long-term. The growth-related expenses will support the development of operational efficiencies and economies of scale.

 

Operational Highlights

In May 2021, CRG began operations of its seventh and eighth retail dispensaries in the California cities, Lompoc and Goleta, operating both in-store and delivery transactions.

 

In December 2021, CRG opened its ninth retail dispensary.

During the twelve months ended March 31, 2022, CRG executed 487,697 total retail transactions of which 17,721 were delivery transactions compared to 243,542 total retail transactions in the previous year ended March 31, 2021.

 

ADDITIONAL INFORMATION

Additional information relating to the Company’s annual filing is available on SEDAR at www.sedar.com and in the Company’s Annual Financial Statements and in the Management’s Discussion and Analysis for the Year Ended March 31, 2022.

 

About Captor Capital Corp.

Captor Capital Corp. is a Canadian vertically integrated cannabis company listed on the Canadian Securities Exchange, and the Frankfurt and Stuttgart stock exchanges. Captor provides recreational cannabis products to consumers, as well as other high demand cannabis-based goods. The Company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale.

 

ADDITIONAL INFORMATION

Additional information relating to the Company’s filing is available on SEDAR at www.sedar.com and in the Company’s Unaudited Financial Statements and in the Management’s Discussion and Analysis for the Year Ended March 31, 2022.

 

About Captor Capital Corp.

Captor Capital Corp. is a Canadian vertically integrated cannabis company listed on the Canadian Securities Exchange, and the Frankfurt and Stuttgart stock exchanges. Captor provides recreational cannabis products to consumers, as well as other high demand cannabis-based goods. The Company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale.

 

Dmitri Seleznev,
Communications

Captor Capital Corp.
dseleznev@captorcapital.com

 

Forward-Looking Statements

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

This press release contains or refers to forward-looking information and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to availability of investment opportunities, economic circumstances, market fluctuations and uncertainties, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, and the other risks involved in the investment industry and junior capital markets. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Network Partners

Follow Us on Social Media

LinkedIn

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading