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Israeli 'Cannabis Sticks' Maker Reports Financial Results For 2023 Following Reverse Takeover
Israeli technology and cannabinoid company StickIt Technologies Inc. (CSE:STKT) announced its financial results on Monday for the year ended Dec. 31, 2023.
Revenue for the fiscal 2023 amounted to CA$203 000 ($149,300), compared to CA$564 000 in the prior year.
The company called 2023 a "notable year" following the "completion of a reverse takeover on Oct. 23, 2023, positioning StickIt for accelerated growth and market expansion." Simultaneously the company completed the financing of CA$441,000, consisting of 1,024,628 subscription receipts for CA$0.4304 each, which were converted on a 1:1 basis into the company’s common shares.
StickIt, the developer exclusivity and patent protected of “Cannabis Sticks,” debuted on the Canadian Securities Exchange (CSE), in the same month.
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