1933 Inds Stock Price, News & Analysis

1933 Industries reported its Q3 2022 financial results, revealing a revenue increase of 33% to $4.26 million compared to Q2 2022. The company's gross margin declined to 47% from 73% in Q3 2021. However, total expenses surged to $13.67 million, primarily due to a non-cash goodwill impairment of $11.47 million. The firm faced a net loss of $12.38 million, significantly worse than a net income of $0.58 million in Q3 2021. Additionally, the termination of the acquisition deal with Day One required repayment of $500,000 in loans.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) held its Annual General Meeting where shareholders approved all motions presented. Key approvals included the acceptance of audited financial statements for the fiscal year ending July 31, 2021, the election of five directors: Paul Rosen, Lisa Capparelli, Brian Farrell, D. Richard Skeith, and Ranson K. Shepherd, and the appointment of MNP as auditors. An Extraordinary Meeting for debenture holders was adjourned, with more information to be provided later.

1933 Industries (CSE:TGIF)(OTCQB:TGIFF) announced that it did not meet quorum requirements during its Annual General Meeting and Extraordinary Meeting of Debentureholders, both reconvened for June 16, 2022. Voting has been extended, requiring proxies by June 14, 2022. Proposed amendments to the Debentures include lowering the conversion price from $0.10 to $0.075 per share, reducing interest payment prices, and extending the maturity date to September 14, 2023. The Board recommends that Debentureholders vote in favor of these amendments.

1933 Industries Inc. (CSE:TGIF) (OTCQB:TGIFF) has announced an extraordinary meeting for holders of its 10% Senior Unsecured Convertible Debentures set for June 9, 2022. The meeting will focus on several proposed amendments to the debentures, including:

• Reducing the conversion price from $0.10 to $0.075.
• Lowering the price per share for interest payments.
• Extending the maturity date from September 14, 2022, to September 14, 2023.

The Board recommends voting in favor of these amendments.

1933 Industries Inc. and Day One Beverages have mutually terminated their binding Letter of Intent regarding the acquisition of Day One. This decision follows revelations about Day One's greater-than-expected capital requirements. As part of the agreement, Day One will repay a loan of US$482,571.24 by June 30, 2022, along with an additional US$30,051.84 for incurred costs due by June 9, 2022. Should the repayment not occur, 1933 Industries retains the right to convert the loan into shares at a valuation of US$4,500,000.

1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) has scheduled its Annual General Meeting of Shareholders for June 9, 2022, at 9:00 a.m. PST via Zoom. Shareholders will review the audited financial results for the fiscal year ending July 31, 2021, and vote on the election of five directors: Paul Rosen, Lisa Capparelli, Brian Farrell, D. Richard Skeith, and Ranson K. Shepherd. Additionally, MNP, Chartered Professional Accountants, will be appointed as auditors. Detailed information is available in the management information circular sent to shareholders.

1933 Industries Inc. (CSE:TGIF)(OTCQB:TGIFF) has filed a preliminary short form Base Shelf Prospectus to offer up to $100 million in securities over a 25-month period. This prospectus allows the company to issue various securities, including common shares and debt securities, providing flexibility for future financing. However, there is no guarantee that securities will be sold. The securities will not be registered under U.S. laws, and the company has yet to confirm any agreements for issuance. The Base Shelf Prospectus has been filed on SEDAR.

1933 Industries Inc. (CSE:TGIF, OTCQB:TGIFF) announced its Q2 2022 financial results, reporting a 23% rise in revenues to $3.2 million, compared to $2.5 million in Q1 2022. The company achieved an 87% decrease in net loss, amounting to $0.8 million, while gross margin was 46%. Operating expenses dropped by 65% to $2.4 million. The cultivation subsidiary recorded a 33% revenue increase due to enhanced processing methods, leading to a 31% rise in inventory. 1933 Industries is on track to profitability with ongoing improvements.