Takes Money to Make Money they are growing VERY FAST GLTA.Can't wait until next year. A company with no debt is key. We invest in them they invest in us. This is the one!
The Very Good Food Company Reports Third Quarter Fiscal 2020 Results Vancouver, British Columbia--(Newsfile Corp. - November 16, 2020) - The VeryGood Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY" or the "Company") today announced its third quarter ("Q3") financial results for the period ended September 30, 2020. Key Financial Highlights of Q3 2020 Revenue of $1,393,234, growth of 26.6% over the prior quarter and 322% year over year Gross margin of 39.2% over a nine-month period; an improvement from 28.7% in 2019 Production volume sold of 126,293 lbs in the three-month period, an increase of 37.2% compared to the prior quarter Total assets of $15,770,938, including a cash balance of $8,139,684 compared to $405,610 in the prior year Outstanding debt has been reduced to a remaining balance of $40,000 Net loss was $4,497,107 for the third quarter or $0.06 per common share Adjusted EBITDA loss of $3,138,595 in the quarter or $0.04 per common share CEO Mitchell Scott stated: "We are particularly happy with our results this quarter, as we were able to generate an increase in top line revenue in spite of production constraints, and a worsening COVID landscape that has negatively affected our industry peers. As we move closer to the initial launch date of our upcoming facilities, we remain committed to operating our business in a focused and disciplined manner. We are making the necessary investments to ensure that our new facilities launch with the right equipment and team in place to scale rapidly and meet the growing demand for our products."