Veritas Farms, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 01:46 pm EDT
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Veritas Farms, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.169864 million compared to USD 0.273932 million a year ago. Net loss was USD 1.42 million compared to USD 0.606167 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to USD 0.02 a year ago.
For the six months, sales was USD 0.379652 million compared to USD 0.694839 million a year ago. Net loss was USD 2.34 million compared to USD 1.89 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.05 a year ago.
Veritas Farms, Inc. (Veritas Farms) is an agribusiness that is focused on growing, producing, marketing, and distributing quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring phytocannabinoids (collectively, CBD). Veritas Farms owns and operates an approximately 140 acres farm in Pueblo, Colorado, capable of producing over 200,000 proprietary full spectrum hemp plants, which can potentially yield a minimum annual harvest of 250,000 to 300,000 pounds of outdoor-grown industrial hemp. Veritas Farm's products include capsules, gummies, tinctures, lotions, salves, creams, balm sticks, lip balms, and pet chews. It also operates approximately 15,000 square feet of climate-controlled greenhouses to produce a consistent supply of year-round indoor-cultivated hemp. In addition, there is a 10,000 square-foot onsite facility used for processing raw hemp, oil extraction, formulation laboratories, and quality/purity testing.
VERITAS FARMS, INC. 
