First Foods Group, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 13, 2020 at 04:29 pm EST
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First Foods Group, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 31,536 compared to USD 79,480 a year ago. Operating loss was USD 421,364 compared to USD 398,319 a year ago. Net loss was USD 592,987 compared to USD 432,410 a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.02 a year ago. For the nine months, total revenue was USD 153,221 compared to USD 267,778 a year ago. Operating loss was USD 1.783 million compared to USD 1.098 million a year ago. Net loss was USD 2.246 million compared to USD 1.167 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.07 a year ago.
First Foods Group, Inc. is focused on developing its specialty chocolate product line through its Holy Cacao subsidiary, participating in merchant cash advances (MCAs) through its Foods Funding Division. Holy Cacao is engaged in producing, packaging, distributing and selling specialty chocolate products, including specialty chocolate products infused with a hemp-based ingredient. Holy Cacao holds four trademarks for the brands, The Edibles Cult, Purely Irresistible, Mystere and Southeast Edibles. The Company has developed approximately 23 recipes for its specialty chocolate product line. It markets its specialty chocolate product line on a full-time basis through multiple distribution and sales agreements, as well as through multiple industry-specific trade shows, through its on-line Website presence, and through its ongoing collaboration with a diverse team of industry consultants who specialize in media relations, public relations, and investor relations.