Fri, May 17, 8:01 PM (70 days ago)
Jacksam Corporation's Q1 2024 financial results show a decline in revenue to $295,333 from $628,425 in Q1 2023, with a notable drop in machine sales. Cost of revenue decreased to $196,189 from $405,312, yet gross profit fell to $99,144. Operating expenses surged to $563,932 due to a significant non-cash equity compensation of $437,765, resulting in a loss from operations of $464,788, compared to a $20,510 loss in Q1 2023. Net loss was $546,899 versus a net income of $55,429 in Q1 2023. Cash flow used in operations decreased to $133,843 from $275,037. The company faces going concern issues, relying on customer payments and a $100,000 convertible note for financing. Future capital needs remain uncertain.