Digipath, Inc. Reports Earnings Results for the First Quarter Ended December 31, 2022
February 14, 2023 at 04:43 pm EST
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Digipath, Inc. reported earnings results for the first quarter ended December 31, 2022. For the first quarter, the company reported sales was USD 0.726755 million compared to USD 0.699585 million a year ago. Net loss was USD 0.24033 million compared to USD 0.277603 million a year ago.
Hypha Labs, Inc., formerly Digipath, Inc., has developed technology that cultivates the mycelium root structures of psilocybin mushrooms and other functional mushroom's mycelium into a natural product. This product has an exact, consistent potency containing all the natural compounds found in these fungi. Typically, it takes six-eight weeks to fully grow mushrooms, and using its technology, the production of the active ingredient is only seven-10 days. This natural product solves the dosing issue created by having to use whole mushrooms. The product is tasteless and gentler on the stomach and can be used sublingually for fast-acting results. The product allows the consumer to produce measurable active ingredients at home for mental and physical benefits. It provides Psilocybin Mushrooms, Button Mushrooms, Shiitake Mushrooms, Maitake Mushrooms, Reishi Mushrooms, Lion's Mane Mushrooms, Oyster Mushrooms, Oyster Mushrooms and Crimini Mushrooms.