PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is reporting its interim unaudited consolidated financial results for the three and six months ended Sept. 30, 2021. Highlights of the report include an increase of gross revenue and gross margin; all figures are in Canadian dollars. PlantX gross revenue for the three-month period ended Sept. 30 totaled $2,826,790, an increase of $2,499,788 from the gross revenue generated for the same period in 2020, with gross margin of $1,292,963, compared to $15,913 for the same period in 2020. In addition, the company reported cost of sales reaching $1,533,827 with net loss of $7,617,163 — $3,394,397 of that amount was the result of share-based compensation and a loss per share of $0.07. The report also showed working capital of $10,153,199, including $9,582,510 in cash. In its announcement, PlantX noted its focus on diversification, including the implementation of new technology; the opening of brick-and-mortar stores in San Diego and Venice Beach, California, with plans to open two additional locations in Canada; and educational programming — all initiatives designed to strengthen the company’s multichannel e-commerce impact. Other company highlights for the quarter included the launch of its meal-delivery service in the United States and begin recognized as a third-party seller on Walmart Marketplace in the United States and on Amazon Marketplace in the United States and Canada. In addition, the company announced brand ambassador partnerships with American football quarterback Justin Fields and professional skier Nick McNutt. “It has been an active quarter for PlantX as we continue to devote our efforts towards achieving our strategic expansion plan,” said PlantX founder Sean Dollinger in the press release. “From scaling our operational capabilities, to expanding our customer base and enhancing our educational pursuits, we have demonstrated increased effectiveness in line with our goal to add value and increase our impact in the fast-growing plant-based industry. As we approach the end of 2021, our focus is to support our community as best we can throughout the holiday season and advance our progress with creativity and passion.”
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About PlantX Life Inc.
PlantX is committed to being the digital face of the plant-based community as well as the one-stop shop for everything plant based. With its fast-growing category verticals, the company offers customers across North America more than 5,000 plant-based products. In addition to offering meal and indoor-plant deliveries, the company plans to expand its product lines to include cosmetics and its own water brand, but the business is not limited to an e-commerce platform. PLTXF uses its digital platform to build a community of like-minded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life. For more information about this company, please visit www.PlantX.com and www.PlantX.ca.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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