8 million, down 47% from the very same duration of the previous year. However, the development was not enough, as the company still incurred a substantial net loss of $68. 9 million for the quarter, which included $24. 0 million of tax arrangement cost. That stated, in the year-ago period, Medication, Men had a much larger net loss of $93.
6 million. So things seem to be entering the ideal instructions. In reality, the company has taken a trip a long method considering that getting in a restructuring mode in 2019. Since the 2nd quarter of its fiscal 2020, Medication, Men has actually minimized its overall corporate overhead by more than 65% and has attained annualized cost savings in business selling, general, and administrative (SG&A) costs of about $70.
(Source: "Corporate Presentation: February 2021," Medication, Guys Enterprises Inc, last accessed March 19, 2021.) Do not forget, the company still has a strong existence in the cannabis retail market. Med, Men presently has 23 functional stores diversified across California, Florida, Illinois, Nevada, and New York City. Additionally, it has 3 additional retail licenses in California, 2 in Massachusetts, and one in Illinois.
Provided that the U.S. cannabis market is anticipated to expand quickly for several years to come, Med, Men's functional stores and additional retail licenses could cause growth for the company. Med, Men Enterprises Inc (OTCMKTS: MMNFF) Stock Chart Chart courtesy of Analyst Take As the above chart shows, the recent course of Med, Men stock looks nothing except a roller-coaster ride.
12 and $0. 20 per share toward the end of 2020. It shot up in early February 2021, reaching an intra-day high of $1. 47 on February 10 prior to returning down. At this point, it's hard to state how the turnaround story will unfold for Med, Men Enterprises Inc.
Description Medication, Men Enterprises Inc previously known as Ladera Ventures Corp is the preeminent marijuana company with several possessions and operations in California, Nevada, and New York, which combined represent nearly half of North America's addressable legal market. This Is Noteworthy owns and runs certified cannabis facilities in cultivation, manufacturing, and retail.
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