• For the three months ended June 30, 2026, revenue fell 10.8% to $7.6 million, reflecting Nevada price compression and intensifying competition.
• Retail revenue declined 7.6% to $7.4 million; wholesale revenue dropped to $0.21 million from $0.52 million.
• Gross margin slipped to 32.5% from 34.9%; management attributed the sequential drop from 43.5% to seasonal factors.
• Operating loss widened to $1.2 million, driven by lower margin, $558,501 in transaction-related professional fees, higher share-based compensation.
• Cash totaled $2.62 million; working capital surplus was $1.5 million, with management citing continued positive operating cash flow of $0.8 million.

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