Greenlite Ventures (OTC: GRNL) today announced financial results for the year ended March 31, 2023. The company reported an operating loss of $8,294,982 ($0.38 per share) compared to a net loss of $10,058 ($0.00 per share) for the year ended March 31, 2022. According to the update, the year ended March 31, 2023, contains one-time, non-recurring expenses primarily dealing with non-cash stock-based related charges as well as extinguishment of debt. For this reason, Greenlite Ventures believes that a non-GAAP presentation of its operating loss for 2022 will be beneficial for investors to obtain a better understanding of the company’s operating results and progress for the current year. The announcement contains a brief description of the non-recurring items. “We made significant progress during 2022, which includes key milestones and events that have laid the foundation for future growth at the company,” said GRNL CEO Adam Pennington.
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About Greenlite Ventures Inc.
Game Time Productions recently entered the sports licensing and merchandising markets through the acquisition of Game Time watches and bands. Game Time is the leader in licensed sports watches, having active, ongoing license agreements with the NFL, MLB, NHL, NASCAR, and WWE, along with several iconic athletes and brands. GRNL also recently formed Game Time Media Inc. to develop its podcast content and distribution networks, along with its social media, public relations and media outreach efforts.
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