Lexaria Bioscience Corp. (OTCQB: LXRP) is engaged as a food sciences company, which is focusing on creating a diversified business around hemp oil, hemp extracts, and other methods for its use. Shares of the hemp company are rallying 7.91%, through afternoon trading on Monday, July 17, 2017. Over the past month, Lexaria Bioscience Corp. reported average daily volume of 61,816 shares. However, volume of 32,498 shares or dollar volume of $10,240, has already exchanged hands on Monday, July 17, 2017.

Shares of Lexaria Bioscience Corp. are gaining today, after the company reported fiscal quartely earnings. During the first three month period ending May 31st, the company reported total revenue of $20,253, and a net loss of $344,086. Furthermore, the company has total assets of $3.14 million and total liabilities of $85,002.

Lexaria Bioscience Corp. Quarterly Earnings:

LEXARIA BIOSCIENCE CORP.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars)
May 31 August 31
2017 2016
(Unaudited)
ASSETS
Current
     Cash $  2,788,978 $  93,409
     Accounts and other receivables (Note 7) 57,398 131,083
     Inventory (Note 8) 128,381 134,724
     Prepaid expenses and deposit 104,523 150,950
      Total Current Assets 3,079,280 510,166
     Patents (Note 9) 63,044 53,997
     Equipment 2,011 2,475
65,055 56,472
TOTAL ASSETS $   3,144,335 $   566,638
LIABILITIES
Current
     Accounts payable and accrued liabilities $  12,956 $  90,010
     Unearned revenue (Note 10) 19,600 12,500
     Due to related parties (Note 15) 7,446 331,371
Total Current Liabilities 40,002 433,881
Convertible debenture (Note 11) 45,000 45,000
TOTAL LIABILITIES 85,002 478,881
STOCKHOLDERS’ EQUITY
Share Capital
     Authorized:
220,000,000 common voting shares with a par value of $0.001 per share
Issued and outstanding: 66,552,303 common shares at May 31, 2017
and 51,288,473 common shares at August 31, 2016
66,552 51,288
Additional paid-in capital 15,681,352 11,515,419
Deficit (12,483,019 ) (11,300,662 )
Equity attributable to shareholders of the Company 3,264,885 266,045
Non-Controlling Interest (205,552 ) (178,288 )
Total Stockholders’ Equity 3,059,333 87,757
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $   3,144,335 $   566,638

Here is the link to the full quarterly earnings release: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12174293

Add a Comment to this Post

comments