Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has amended and refiled its financial statements for the first quarter ended March 31, 2022 (collectively, the “Amended Statements”) that have been reviewed by its auditor. The Amended Statements replace the previously filed unreviewed first quarter 2022 financial statements filed on SEDAR on May 27, 2022.
In the Amended Statements, the Company has revised the classification of interest payments on certain debt obligations in the consolidated statement of cash flows for the three months ended March 31, 2022. The revision resulted in an increase in net cash flows provided by operating activities from $2.3 to $3.6 million, and a corresponding decrease in net cash flows provided by financing activities from $10.8 to $9.5 million. In addition, the Company has restated its diluted earnings per share calculation to incorporate the dilutive effect of its outstanding derivative warrants. Including the impact of the outstanding derivative warrants, the net loss per diluted share increased from $0.08 to $0.13. The restatement did not affect the Company’s balance sheet or cash flows statement for the first quarter ended March 31, 2022.
