Connect with us

INDUSTRIAL HEMP

Cabinet Grow Inc. (OTCMKTS:CBNT) Files Form 10-Q

Published

on

Cabinet Grow Inc. (OTCMKTS:CBNT) filed Form 10-Q, wherein it stated that revenues, related party for the quarter closed March 31, 2017 was $3,000 with no change from the prior year period. These revenues, related party were pursuant to a lease, which was effective from December 31, 2015 that the company’s subsidiary firm Quasar LLC finalized with renewal clauses with an associated party tenant. Following to the lease the associated tenant will compensate $1,000 per month to Quasar.

The highlights

Cabinet Grow reported that for the quarter closed March 31, 2017 came at $34,309 as against a credit of $2,599 for the quarter closed March 31, 2016. Other expense for the same quarter came at around $7.201 million compared to approximately $1.226 million for the quarter closed March 31, 2016. Included in other costs for the quarter closed March 31, 2017 was a cost of around $7.093 million for the variation in the fair value of derivative liabilities, as against $611,902 for the quarter closed March 31, 2016.

Net loss for the quarter closed March 31, 2017 came at around $7.232 million compared to around $1.245 million, in the same period, a year earlier. It was mainly an outcome of increase in the fair value of derivative liabilities for the quarter closed March 31, 2017. There was a decline in interest expense for the reported period over the same quarter of 2016.

As of close of March 31, 2017, Cabinet Grow posted cash/cash equivalents of $2,582 and current liabilities of around $10.148 million. The current liabilities are constituted mainly of accounts payable, convertible note payable, derivative liabilities, liabilities of discontinued operations and accrued expenses.

In the last trading session, the stock price of Cabinet Grow closed absolutely flat with no gain/decline at $0.700. After, the last session, the market cap of firm was noted at $840,000.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

BRANDS

DETAILS

SCORE

PRODUCT SITES

  • Certified Organic
  • Made In U.S.A
  • Purity Promise
  • Price From $49

9.8

30% OFF Today! “30 0FF”

  • All Natural
  • Made In U.S.A
  • Lab Tested
  • Price From $69

9.7

  • All Natural
  • Made In U.S.A
  • Dissolvable Oral
  • Price From $99

9.6

  • All Natural
  • Made In U.S.A
  • Oral Mist
  • Price From $39

9.5

BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Purity Promise
  • Price From $49
SCORE

9.8

PRODUCT SITE
BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Lab Tested
  • Price From $69
SCORE

9.7

PRODUCT SITE VIEW PRODUCTS
BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Dissolvable Oral
  • Price From $99
SCORE

9.6

PRODUCT SITE VIEW PRODUCTS
BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Oral Mist
  • Price From $39
SCORE

9.5

PRODUCT SITE VIEW PRODUCTS
Advertisement

Title

Uncategorized4 days ago

Top 15 Essential Oils + Health Benefits

Top 15 Essential Oils + Health Benefits Each and every essential oil contains compounds with unique healing and therapeutic benefits....

Uncategorized4 days ago

Using Hemp Oil in Cooking

Hemp oil has many advocates. The oil from hemp seeds is rich in omega-3 and omega-6 essential fatty acids. This makes...

Uncategorized1 week ago

Best Oil Producers of 2018

Millionaires are being made by the moment in the medical marijuana industry. Venture capital firms, private equity firms, and even...

MyDx Inc MyDx Inc
Health3 weeks ago

MyDx Inc. (OTCMKTS:MYDX) Initiates Clinical Trial of Cannabis Formula for The Treatment of Chronic Low Back Pain

San Diego, CA based MyDx Inc. (OTCMKTS:MYDX) has announced the controlled trial of the cannabis formula for the treatment of...

Business3 weeks ago

Fastfunds Financial Corporation (OTCMKTS:FFFC) Is All Set to Launch Affinity Connextions Program Targeting MMJ Industry

Fastfunds Financial Corporation (OTCMKTS:FFFC) has announced the completion of all necessary formalities to introduce an Affinity Connextions Program through a...

Innovative Industrial Properties Inc Innovative Industrial Properties Inc
Business3 weeks ago

Innovative Industrial Properties, Inc (NYSE:IIPR) Unveils Exercise Of Underwriter’s Option To Purchase Common Stock Shares

Innovative Industrial Properties, Inc (NYSE:IIPR) announced recently that it has obtained the exercise of the underwriter’s option to buy additional...

Business3 weeks ago

Next Generation Management Corporation (OTCMKTS:NGMC) Updates On New Medical Marijuana System in Oregon

Nextgen Holdings, a subsidiary of the Next Generation Management Corporation (OTCMKTS:NGMC) recently updated its stockholders with the ongoing Medical Marijuana...

INDUSTRIAL HEMP3 weeks ago

Weed Inc’s (OTCMKTS:BUDZ) Performance Is Getting Higher

Weed Inc (OTCMKTS:BUDZ) has for a long time been enjoying the momentous highs for the past few months. The company’s...

INDUSTRIAL HEMP3 weeks ago

Namaste Technologies Inc (OTCMKTS:NXTTF) Signs A Share Purchase Agreement With Cannbit Ltd

Namaste Technologies Inc (OTCMKTS:NXTTF) announced recently that it signed a non-binding Letter of Intent (LOI) with Cannabit Limited where the...

INDUSTRIAL HEMP3 weeks ago

MariMed Inc. (OTCMKTS:MRMD) Plans To Expand Its Cannabis Business

MeriMed Inc. (OTCMKTS:MRMD) announced its grand plans to expand business into the emerging cannabis industry. Furthermore, the company intends to...

Advertisement
Advertisement
Advertisement