Welcome to our dedicated page for RIV Capital news (Ticker: $CNPOF), a resource for investors and traders seeking the latest updates and insights on RIV Capital stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect RIV Capital's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of RIV Capital's position in the market.
RIV Capital reported its financial results for Q1 2024, highlighting a pivotal quarter with the launch of its first adult-use dispensary in White Plains, NY. The company ended the quarter with $65.9 million in cash, supporting its growth strategy and proposed business combination with Cansortium. Net revenue increased to $2.1 million from $1.7 million in Q1 2023, driven by entry into the adult-use market. However, the company reported a net loss of $5.0 million, an improvement from the $23.6 million loss in Q1 2023. The comprehensive loss was $4.6 million compared to $24.7 million in the previous year. Key challenges included increased SG&A expenses and ongoing market competition. Positive regulatory changes in NY and potential federal cannabis rescheduling were noted as future growth catalysts.
RIV Capital Inc. applauds the potential rescheduling of cannabis by the DEA from Schedule I to Schedule III under the CSA, leading to tax relief, federal reform support, institutional investment access, and accelerated medical research opportunities. The company aims to unlock shareholder value through strategic growth initiatives.
RIV Capital Inc. reported financial results for the fiscal quarter and nine-month transition period ended December 31, 2023. Etain received approval to commence adult-use operations in New York, ending the year with $81.9 million in cash. The net loss was $47.3 million due to a non-cash impairment charge. Etain opened its first co-located dispensary in White Plains, NY. The company's strategic growth committee is focused on expanding its operations. Financially, revenue was $2.1 million for the quarter, with a gross loss of $0.6 million primarily due to an impairment charge of $48.7 million. The total comprehensive loss was $50.3 million for the quarter.