PlantX Life Inc. (CSE:VEGA) announced that it generated monthly gross revenue of C$1,489,988 for June 2022, with the cost of goods sold totaling C$968,492 for the same month.
The plant-based products provider said its year-over-year gross revenue increased by about 97%, or C$735,988.
“Our team is extremely dedicated and works day in and day out to contribute to the success of each of the company's verticals and more importantly, establish the tone for becoming leaders in the e-commerce plant-based space,” PlantX Life CEO Lorne Rapkin said in a statement.
READ: PlantX Life brings Dream Pops' plant-based frozen treats into its Venice Beach pop-up retail initiative
“The team is also focused on reducing costs to increase cash flow, aiming to maximize profitability,” Rapkin added.
As well, PlantX reported that it is working diligently with its auditors to complete the 2022 Annual Financial Statements and at this time, expects to have the 2022 Annual Financial Statements, the related management's discussion and analysis and officer certifications filed within the required deadline of 30 days, and in any event, no later than September 27, 2022.
The company added that it is not subject to any insolvency proceedings nor is there any other material information concerning its affairs that has not been generally disclosed.
Based in Vancouver, PlantX Life is the digital face of the plant-based community and its platform is the one-stop shop for everything plant-based.
Contact Sean at sean@proactiveinvestors.com