DALLAS, February 22, 2017 /PRNewswire/ --
North American Cannabis Holdings, (USOTC, USMJ) more frequently known today by its ticker symbol, USMJ, today announced filing its 2017 second fiscal quarter (Q2 2017) financial report for the period ending December 31, 2016. The Company reported an increase of 40% in revenue to $193,000 compared to the same period the previous year and an increase of 56% in gross margin to $110,000. Notably, the Company's operations are reaching breakeven reporting a net margin loss of only $78 for the quarter.
USMJ is developing a variety of cannabis enterprises. The majority of revenue is generated by USMJ's ongoing development of a cannabis concept restaurant, The AmeriCanna Cafe. The concept cannabis restaurant is developing from the Company's experience operating a sport fitness and wellness restaurant. The increase in revenue reported today has been generated through the sales of new sports and fitness supplements the Company is currently piloting. The Company is also developing cannabis pilot projects separate from its AmeriCanna Cafe concept restaurant.
To learn more about North American Cannabis Holdings: http://www.growusmj.com
Follow the Company on Twitter: twitter.com/US_HEMP
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
SOURCE North American Cannabis Holdings, Inc.