Cannabis Global $CBGL Files Quarterly Report – Outlines Strong Growth in Cannabis Sector @smallcapvoice
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**LOS ANGELES, CA / ACCESSWIRE / July 13, 2021 /** Cannabis Global, Inc. (OTC PINK:CBGL), a licensed Los Angeles-based manufacturer and distributor in the cannabis sector today announces the filing of financial results for its third fiscal quarter ending May 31, 2021. Revenues for the quarter grew to $940,491 up from approximately $26,000 for the previous fiscal quarter ending February 28, 2021. Revenue growth was driven by increased manufacturing and distribution revenues. Gross margins for the reported quarter were 22.4%. Total assets reported for the quarter were $11.4 million, or approximately $0.15 per share based on the reported 78.7 million shares outstanding as of May 31, 2021, compared to $2.325 million in total assets as of the end of the Company’s fiscal year, August 31, 2020. Total shareholders equity increased from a deficit of $1,435,286 for the year ended August 31, 2020 to positive shareholder’s equity of $3,575,783 for the third quarter ended May 31, 2021. Additionally, the Company maintains its 650 million shares position in Marijuana Company of America (OTC PINK:MCOA), which is currently valued in the marketplace at approximately $3.64 million, or approximately $0.046 per share. However, this investment is carried on the balance sheet at its initial historic cost, which is less than one cent per share, based on the reported 78.7 million shares outstanding as of May 31, 2021. [https://finance.yahoo.com/news/cannabis-global-files-quarterly-report-120000314.html](https://finance.yahoo.com/news/cannabis-global-files-quarterly-report-120000314.html)
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