Why The Cannabis Industry Needs To be "PEPSI-fied"

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News:

Jay-Z-Backed The Parent Co. Revenue Grows 18.9% YoY To $54.2M In Second Quarter BZ WireTPCO Holding Corp. (NEO: GRAM.U) (OTCQX:GRAMF), which does business asThe Parent Company, announced its second-quarter financial results on Monday, revealing net sales of $54.2 million, representing approximately 18.9% growth compared to the adjusted Q12021 revenue of approximately $45.6 million.The earnings release comes on the heels of the company’s appointment of Troy Datcher to serve as the Company's new CEO, effective Sept 8th.

Datcher's historic appointment represents the first time a Black CEO will lead a major publicly traded U.S. cannabis organization. Q2 2021 Financial Highlights

Adjusting for a full year of sales beginning January 1, 2021, H1 2021 net sales would have been approximately $99.8 million

Gross profit in Q2 2021 was $8.1 million representing a gross margin of 15% in Q2 2021;Adjusted EBITDA loss for Q2 2021 was $10.4 million primarily attributable to the ongoing operations of the Company's core business;

Operating expenses in Q2 2021 were $60.7 million, of which $31.8 million were non-cash expenses;Cash and cash equivalents totaled $257.5 million as of June 30, 2021 compared to $281.0 million as of March 31, 2021.

Episode Summary:

Patrick and Javier talk to Raymond Nobu Chang, CEO of Agrify about lack of consistency in the Cannabis Industry.

Guests:

Raymond Nobu Chang: President, CEO & Board Member, Agrify 11:00

https://www.agrify.com/

Hosts:

Elliot Lane

https://twitter.com/ElliotLane10

Javier Hasse

https://www.twitter.com/JavierHasse

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Benzinga Cannabis Hour is a podcast focused on marijuana and all things weed, CBD, hemp and psychedelics. Hosts include Elliot Lane, Javier Hasse and Patrick Lane.

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