iAnthus Capital Holdings Inc. (OTCQB: ITHUF) released the company’s financial results for the first quarter of 2018 on May 30th. The company’s revenues for Q1 2018 totaled to $3.2 million. However, out of the $3.2 million, the total revenue from cannabis sales came to $0.2 million.
The largest portion out of the $3.2 million, $2.6 million, came from a “fair value adjustment on biological assets. This means that iAnthus has $2.6 million worth in living, un-harvested crops.
The net loss reported for Q1 2018 totaled to an approximate $0.6 million, which is a significant decrease from Q1 2017’s loss of $1.9 million. This greater loss in Q1 is attributed to legal fees and transaction fees when iAnthus acquired assets in Florida and New York.
ITHUF has increased significantly in value since the report was released to the public.
The value for ITHUF has increased by 6.63% on June 1st.
ITHUF is currently trading near its highest all-time value.