California Cannabis Co. Blum Reports $33M In 2023 Revenue After Wrapping Up Restructuring
California cannabis company Blum Holdings, Inc. (OTCQB:UNRVD) reported its preliminary and unaudited financial results on Tuesday for the fiscal year and quarter ended December 31, 2023. Revenue from continuing operations for FY 2023 totaled $33 million, following a year of restructuring and strategic reorganization.
In October, Unrivaled Brands, Inc. revealed its intentions to implement a reorganization in which a new Delaware holding company, Blum Holdings, Inc., became the publicly traded holding company of Unrivaled Brands and its subsidiaries.
The company wrapped up the process in early January, shortly after implementing a reverse stock split of its common stock at a 1-for-100 ratio.
The move resulted in “a refreshed board and executive …