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Lifeist Wellness Inc (OTCMKTS: NXTTF) advancements in science and technology to find a path for your well-being have announced their financial results which ended August 31, 2021. They are now focusing on areas where they can generate more profitable growth, operate efficiently and optimize working capital within their current portfolio of companies going forward. In addition, they design the production plan for their nutraceutical products with maximum profitability.
They have improved their performance in the cannabis industry while investing in emerging opportunities, which has boosted the company’s confidence in strategies and planning for maximum profit. Overall, a job has been done to lay the foundation for their growth as it moves towards wellness.
Management declaration
“Our improved third quarter results reflect ongoing positive trends: higher revenues, lower costs, better cash flow,†said Meni Morim, CEO of Lifeist. There is strong demand for product portfolios from consumers, retailers and wholesalers across Canada. The financial turnover is directed to their cannabis subsidiary. This can mart and what makes can mart unique is their ability to bring brands to market quickly by increasing the number of distribution masters acting as middlemen or by expanding the portfolio with the launch of manufactured edition SKUs. in their can mart labs subsidiaries.
Company highlights
Cann Mart has a third party partnership with their wholesale and logistics to benefit Canadian Licensed Producers.
As part of the focus on the wellness space, the company changes its name from namaste technologies INC to Llifeist wellness INC.
Life hopes to operate more efficiently by subletting its Toronto office, which generates an annual execution rate of $ 138,000 until its lease expires in October 2024.
Cann Mart received its first order from Manitoba for its consumer-oriented recreational house brand “Roilty”.
Financial highlights for the company include an increase in gross year-over-year revenue to millions of dollars, driven by cannabis growth of 34%. Working capital of $ 19.5 million at the end of the quarter remains strong. Additionally, inventory management continues to improve with reduced turnaround days and reduced inventory.
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