10-Q - American Cannabis Company, Inc. (0000945617) (Filer)

Mon, Jul 15, 5:12 PM (54 days ago)

American Cannabis Company, Inc. reported a significant decline in revenue for Q1 2024, totaling $255.7K, down from $712.4K in Q1 2023, primarily due to decreased consulting and product sales. The cost of revenues also fell to $150K from $435.9K, reflecting lower sales volume and improved operational efficiencies. The company posted a net loss of $132.6K, a reduction from the $463K loss in Q1 2023, aided by decreased operating expenses. Cash and equivalents decreased to $10K from $21K at the end of 2023. The company faces ongoing liquidity challenges, with efforts to secure additional financing. Key uncertainties include market saturation, competition, and regulatory changes.