Bright Green Corporation (NASDAQ: BGXX) released its financial results for the quarter ended March 31, 2023.
Q1 2023 Financial Highlights
The company recorded no revenues for the quarter, as it continues to build facilities to grow, research and distribute cannabis, pending DEA inspection, registration, and quota approvals.
Total operating expenses of $2.6 million, up from $700,000 in the same quarter of 2022, in line with expectations and resulting mainly from payments to support the continued scaling of Bright Green’s operations, salaries and ramp-up expenses incurred towards commercialization. Of the $2.6 million in operating expenses, $800,000 corresponds to equity-based compensation …