PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF), the digital face of the plant-based community, operating a one-stop shop for plant-based products, is releasing its unaudited monthly financial metrics for July 2022. According to the company, monthly gross revenue for July totaled C$1.2 million, an increase of 35% compared to C$910,000 in July 2021. The company attributed much of the increase to its Little West cold-pressed juice brand, which is seeing strong sell-through as consumers return to corporate offices, coffee shops and other locations where Little West products are readily available. Gross profit for the month was C$468,000, a 39% gross margin when compared to gross profit of C$318,000, or 35% gross margin, in July 2021. PlantX also provided an update regarding its previously announced management cease trade order (“MCTO”) issued by the British Columbia Securities Commission earlier this month. The MCTO was issued in connection with a delay in filing audited annual financial statements, management’s discussion and analysis and related officer certifications for the fiscal year ended March 31, 2022. PlantX is working diligently with its auditors and anticipates filing all required documents no later than Sept. 27, 2022. “As we see continued strong topline growth that, we are sharply focused on accelerating our path to profitability,” said PlantX CEO Lorne Rapkin in the press release. “We have refined our operations especially when it comes to staffing, optimizing our marketing activities and securing more favorable terms with suppliers. We are highly confident that these initiatives will translate into near-term further improvement in gross margins and a reduction in our net loss as our business continues to grow.”
To view the full press release, visit https://ibn.fm/aYUER
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 delivery service for meals and indoor plants, the company currently has plans underway to expand its product lines to include a juice and coffee company. 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. Its successful enterprise is being built and fortified on partnerships with the top nutritionists, chefs and brands. The company’s digital presence works to eliminate 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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