Key figures Revenue for the fourth quarter and fiscal year was $130,969. Flower One only began recording revenue on November 9, 2018 subsequent to the acquisition of the assets of NLVO.
Cost of goods sold was $133,094 for the quarter and the year, and included production costs expensed and the cost of inventory sold.
For the quarter, the Company recorded a loss of $5,279,068, comprised of $2,734,111 in share-based compensation, $52,600 in foreign exchange loss related to the Company's cash balances held in CAN$ and $2,778,677 in general and administrative expenses.
For the fiscal year, Flower One recorded a loss of $12,449,915, comprised of $3,239,257 in share-based compensation, $3,803,582 as a listing expense related to the RTO, $639,535 in foreign exchange loss related to the Company's cash balances held in Canadian dollars and $5,053,861 in general and administrative expenses.
As at December 31, 2018, the Company had a working capital deficit of $32,866,665, largely due to a vendor note ("NLVO Note") of $14,080,167 and the $18,000,000 note owed for the greenhouse. The NLVO Note was repaid subsequent to December 31, 2018 and the maturity date on the $18,000,000 note was extended to March 31, 2020 with interest commencing April 1, 2019 at a rate of 9.5% per annum