Cryomass Technologies Inc (PK:CRYM)
Business Focus: Industrial Machinery & Equipment
| Sector: Industrials | Industry: Industrial Machinery & Equipment |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1001 BANNOCK STREET, SUITE 612 DENVER CO 80204 |
| Tel: | N/A |
| Website: | https://cryomass.com |
| IR: | See website |
| Key People | ||
| Christian Noel Chief Executive Officer, Director | Pphilip Blair Mullin Chief Financial Officer | Patricia I. Kovacevic General Counsel, Corporate Secretary |
| Business Overview |
| Cryomass Technologies Inc. designs, manufactures and licenses field-mobile equipment for the handling of harvested cannabis, hemp, and other high-value plant material. The company owns patented technology that utilizes liquid nitrogen to fully separate, collect and protect the high-value compounds from the harvested plant. The Company through its CryoMass patented liquid nitrogen has built a Trichome Separation unit. The Trichome Separation system is optimized for the capture of fully intact cannabis and hemp trichomes, as well as terpenes. It can be used within minutes after plants have been cut and can also efficiently capture trichomes from fresh frozen or even dried plant parts, including trim. The CryoMass system, on the other hand, stabilizes and collects fully intact trichomes at harvest, leaving no opportunity for such wasteful loss. |
| Financial Overview |
| For the nine months ended 30 September 2023, Cryomass Technologies Inc revenues was not reported. Net loss increased 96% to $9.4M. Higher net loss reflects Personnel costs increase of 54% to $2.4M (expense), General and administrative increase of 31% to $1.1M (expense), Depreciation and amortization expense increase from $65K to $299K (expense). Basic Earnings per Share excluding Extraordinary Items decreased from -$0.02 to -$0.05. |
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