TAAT(R) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) has filed its financial statements for first quarter 2023, the three-month period ended Jan. 31, 2023. Highlights of the report include growth of current assets by 2.9% from the last audited financial statements, totaling $11,000,221; sales increased to $23,286,963 from $469,782 (with costs of goods sold of $22,178,902 and $337,817, respectively); and gross profit of $1,108,061 compared to $131,965 in the same period the previous year. The company also reduced expenses by more than 44%. “By significantly reducing the company’s expenses, we have been able to find more efficient ways to grow our branded products,” said TAAT Global Alternatives CEO Michael Saxon in the press release. “Additionally, in the company’s Fiscal Q1 2023, our Ohio-based subsidiary ADCO Distributors Inc. delivered sales growth year-over-year despite challenging headwinds. We thank our retail and institutional shareholders for their continued support as we move forward in 2023.”
To view the full press release, visit https://ibn.fm/DDaSW
About TAAT Global Alternatives Inc.
TAAT Global Alternatives is a vertically integrated consumer product and distribution company, generating more than C$90 million in overall gross revenue annually. TAAT is strategically expanding its product categories including tobacco and reduced-risk alternatives, hemp, kratom and other emerging CPG segments. TAAT facilities include a processing plant in Nevada as well as a distribution center in Canton, Ohio, leveraging existing retail shelf space and pipelines into national wholesale channels. For more information, please visit www.TAATGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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