Flower One Holdings Inc. (OTCQB:FLOOF) (CSE:FONE)(FSE:F11), released its financial and operating results for the second quarter ended June 30, 2022, revealing revenue of $7.9 million, a decrease of 56% compared to $18.3 million in Q2 2021.
Nevada’s cannabis market continues to be harshly affected by the ongoing impact of the pandemic, and a thriving illicit market, which has resulted in price compression and decreased statewide cannabis sales. While tourism has continued to slowly rebound to pre-pandemic levels, visitor counts still remain far below expectations as a direct result of the reduction in conferences, corporate, and international travel.
