Sugarmade, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2022
February 21, 2023 at 05:22 pm EST
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Sugarmade, Inc. reported earnings results for the second quarter and six months ended December 31, 2022. For the second quarter, the company reported sales was USD 0.499441 million compared to USD 0.538815 million a year ago. Net loss was USD 4.22 million compared to USD 2.86 million a year ago.
For the six months, sales was USD 1.21 million compared to USD 0.977358 million a year ago. Net loss was USD 1.15 million compared to USD 4.45 million a year ago.
Sugarmade, Inc. is a product and branding marketing company. The Company operates through two segments: paper and paper-based products and cannabis products delivery. The paper and paper-based products segment focuses on supply of disposable products to the quick-service restaurant and as an importer and distributor of non-medical personal protection equipment to business and consumers, via its Carry Out Supplies subsidiary. Carry Out Supplies is a producer and wholesaler of custom printed and generic supplies. The primary products are plastic cold cups, paper coffee cups, yogurt cups, ice cream cups, cup lids, cup sleeves, edible packaging, food containers, soup containers, plastic spoons, and similar products. The Company also focuses on investing in cannabis real estate, cultivation, and wholesale sectors vs. cannabis retail operations. It is also engaged in selected cannabis and hemp projects. Its subsidiaries include SWC Group, Inc., NUG Avenue, Inc., and Lemon Glow Company, Inc.
SUGARMADE, INC. 
