Golden Leaf Holdings Ltd. announced unaudited interim financial results for the third quarter ended September 30, 2016. Revenues for the third quarter of 2016 were USD 2.5 million, which declined by 11% on a year-over-year basis, but increased by 7% for the nine-month period this year compared to 2015. As a result, the adjusted EBITDA for the quarter was a loss of USD 1.4 million, against a loss of USD 1.8 million in the second quarter of 2016 and a loss of USD 2.2 million in the third quarter of 2015. The company is reporting reduced losses on a lower sales base due to the reduction in operating expenses, which is a measure of increased efficiency.