Federally-Licensed Marijuana Grower Posts Quarterly Earnings Report, No Revenues Yet
Portfolio Pulse from Nina Zdinjak
Bright Green Corporation (NASDAQ:BGXX) reported no revenues for Q2 2023 as it continues to construct facilities for cannabis cultivation, research, and distribution. The company's total operating expenses were $3.0 million, down from $19.2 million in Q2 2022. Bright Green also reported a net loss of $3.0 million and a diluted loss per share of $0.02. The company is focusing on raising $500 million through the USCIS EB-5 Program and plans to acquire Alterola.
August 18, 2023 | 2:01 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Bright Green Corporation reported no revenues for Q2 2023, but reduced its operating expenses significantly. The company is focusing on raising capital and plans to acquire Alterola.
Bright Green Corporation's lack of revenue for Q2 2023 might be concerning for investors. However, the significant reduction in operating expenses and the company's focus on raising capital and acquiring Alterola could potentially offset these concerns in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100