Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) reported its financial results for the second quarter ending June 30, 2024. Revenue grew slightly sequentially to $8.4 million over the first quarter’s $8.3 million but fell below last year’s second-quarter revenue of $9.1 million. The company attributed the decline in sales to declines in Arizona revenue offset by the inclusion of consolidated Ohio cultivation & processing revenue.
Vext’s net loss grew to $4.3 million versus last year’s second-quarter net income of $535,454. The company’s cash level plunged from $8.7 million at the end of 2023 to $3.3 million at the end of June 2024.
On August 2, 2024, Vext announced that it had secured Certificates of Operation for the dual licensing of its cultivation and manufacturing facility as well as its operated dispensaries in Jackson and Columbus Ohio. The company also received approval from the Ohio Division of Cannabis Control to…
