Friday Night Stock Pops On Q1 Earnings

Canadian-based Friday Night Inc. (TGIFF) reported its first-quarter results with C$2.5 million in gross revenues versus no revenue from the same time period in 2016. The stock jumped over 18% on the news to lately trade at 71 cents on the OTC Marketplace.

While the revenues were signs of great progress, the company did deliver net losses of C$599,582 versus last year’s net loss of C$113,290 for the same time period. The losses were associated with the increased expenses as the company has worked to enter the Nevada market. Although the company reported a net loss, it also recorded gross profits of C$1.1 million and is well-positioned with C$5.6 million in cash at the end of the quarter.

“These results prove how large our footprint is becoming and attest to how healthy the market is in Nevada,” said Brayden Sutton, CEO of Friday Night.  “Our team has worked incredibly hard to achieve such great results, and as we fine-tune operations and expand our facilities and partnerships within and outside the state, we are getting very close to becoming cash flow positive.”

Developments in Q1 According To The Company’s Statement

  • Friday Night announced on August 4th that its 91% owned subsidiary, Alternative Medicine Association signed an exclusive license agreement with “Krypted”, a vaping brand from California, to increase its Nevada offerings.
  • Friday Night entered into a land purchase agreement to expand the AMA facilities.  The proposed building will be a 66,000 sq. ft. state of the art cultivation facility.
  • Friday Night’s CannaHemp brand launched CannaHemp Paws, which brought a new product to the pet CBD market.
  • On September 15th, 2017, “Kurupt” granted exclusive rights to AMA to grow, process and distribute “The Real Kurupt’s MoonRock” in Nevada.
  • Management closed two financings of convertible debenture units for a total of $6,500,000 aggregate principal amount.

Friday Night owns and controls cannabis and hemp-based assets in Las Vegas Nevada.  The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands.  Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients.

Debra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 2 days

Happy Friday! Marijuana Money July 23, 2021

@GreenMarketRpt – 4 days

RT : I spoke with to discuss cannabis stock options worth consideration, and why U.S. MSOs pique his interest…

Back to Top