Greater Cannabis Company Reports Q1 2025 Financial Results with Increased Net Loss

The Greater Cannabis Company, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $103,511, compared to a loss of $44,611 in the same period of the previous year. The company did not generate any revenue from product sales or consulting fees during this quarter, maintaining a consistent trend from the prior year. Operating expenses increased to $43,536 from $38,951, primarily due to higher accrued officers' compensation and other operating costs. The company’s total assets decreased to $46,213 from $57,785, while total liabilities slightly decreased to $870,197 from $898,058.

In terms of stockholder equity, the company reported a deficiency of $823,984, an improvement from $840,273 at the end of 2024. The number of common shares outstanding rose significantly to 974,888,436 from 804,638,436, reflecting the issuance of shares for debt conversion and compensation. The increase in shares is indicative of the company's ongoing efforts to manage its financial obligations through equity financing.

Strategically, Greater Cannabis has been focusing on its licensing agreement with Shaare Zedek Scientific Ltd. for a novel cannabinoid therapeutic aimed at treating various neuropsychiatric disorders. The company is currently awaiting the sourcing of specialized active pharmaceutical ingredients necessary for the Phase II Clinical Trial, which has been approved by the Israel Ministry of Health. The company has indicated that it will need to secure additional financing to cover the costs associated with this clinical trial, which is expected to take 18 to 24 months to complete.

Operationally, the company has not reported any significant changes in customer counts or user statistics, as it continues to navigate a challenging market environment. The absence of revenue generation highlights the ongoing difficulties in product adoption and market penetration. The company’s employee headcount remains stable, although specific figures were not disclosed in the filing. The management has acknowledged the need for improved financial performance and has outlined potential risks, including the ability to secure financing and the successful execution of its strategic initiatives.

Looking ahead, Greater Cannabis has expressed cautious optimism regarding its future prospects, contingent upon the successful sourcing of necessary materials for its clinical trials and the ability to raise funds for ongoing operations. The company has emphasized the uncertainty surrounding its profitability and operational performance, urging stakeholders to consider the inherent risks associated with its business model and market conditions.