CLS Holdings USA, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended November 30, 2022
January 12, 2023 at 09:01 am EST
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CLS Holdings USA, Inc. reported earnings results for the second quarter and six months ended November 30, 2022. For the second quarter, the company reported sales was USD 6.07 million compared to USD 5.41 million a year ago. Net loss was USD 8.22 million compared to USD 0.345472 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.01 a year ago.
For the six months, sales was USD 12.12 million compared to USD 10.91 million a year ago. Net loss was USD 9.36 million compared to net income of USD 0.082127 million a year ago. Basic loss per share from continuing operations was USD 0.19. Diluted loss per share from continuing operations was USD 0.19.
CLS Holdings USA, Inc. is a cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada. The Company's brands include City Trees and Oasis Cannabis. It owns 100% of Alternative Solutions, LLC, a holding company that owns three separate entities with licenses to operate cannabis businesses within the State of Nevada: Serenity Wellness Center, LLC doing business as (dba) Oasis Cannabis (Oasis); Serenity Wellness Growers, LLC dba City Trees Fresh Cannabis Cultivation Wholesale; and Serenity Wellness Products, LLC dba City Trees Fresh Cannabis Production Wholesale. Oasis operates a retail marijuana dispensary nearer to the Las Vegas Strip. The Company's other subsidiaries operate a small-scale cultivation facility, as well as a product manufacturing facility and a wholesale distribution operation in North Las Vegas. Oasis is a 5,000 square foot retail location offering personalized delivery, pick-up, and in-store experiences.
CLS HOLDINGS USA, INC. 
