TAAT(R) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) is reporting financial results for its fiscal third quarter of 2022, the period ended July 31, 2022. Highlights from the report include revenue of $17,473,223 for the period, with a $16,905,819 cost of goods sold resulting in a $567,404 gross profit as well as total assets growth of $23,383,865, which is a 48.77% over Q2 and inclusive of $5,698,895 in accounts receivable and $5,119,919 in inventory. The report also noted the company’s acquisition of ADCO Distributors Inc., which was finalized in May and strengthened TAAT’s U.S. portfolio of operations. Finally, TAAT has seen steady growth in specific geographies, thanks to its strategic store and chain placements as well as regional advertising initiatives targeting adult smokers. “I am very pleased with our results for FQ3 2022, as they reflect the many steps we have taken to fortify the financial landscape of the company as an integrated innovator, manufacturer, and distributor of tobacco alternatives, legacy convenience offerings and other emerging product categories,” said TAAT CEO Michael Saxon in the press release. “We continue to strategically commercialize TAAT as a category-creator, which is now sold in thousands of stores between our U.S. and UK footprints, including placements in major convenience and gas chains.”
To view the full press release, visit https://ibn.fm/u3z9G
About TAAT Global Alternatives Inc.
TAAT develops, manufactures and distributes alternative products in categories such as tobacco, hemp, kratom and other emerging CPG segments. Its flagship product is a nicotine-free, tobacco-free combustible with a patent-pending base material formulation, sold in several thousand stores throughout the United States. TAAT has reported an estimated C$80-plus million in overall gross revenue annually and has an operations center in Nevada as well as a distribution center and multiple convenience stores in Ohio. For more information, please visit www.TAATGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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