Bright Green Corporation (NASDAQ: BGXX) released its financial results for the quarter ended March 31, 2023.
Q1 2023 Financial Highlights
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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.
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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 …