VRNO — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-30

• On December 18, 2025, President Trump issued an executive order titled “Increasing Medical Marijuana and Cannabidiol Research,” (the “Executive Order”) which directs federal agencies to expedite the process of rescheduling cannabis from a Schedule I to a Schedule III controlled substance under the C…

• Substantially all of the Company’s business, operating results and financial condition relate to U.S. cannabis-related activities. Our strategy is to vertically integrate as a single cohesive company in multiple states through the consolidation of seed-to-sale cultivating, manufacturing, distributin…

• Revenues, net of discounts, for the three months ended March 31, 2026 was $208,178, a decrease of $(1,631) or (0.8)%, compared to revenues, net of discounts, of $209,809 for the three months ended March 31, 2025. The decrease in revenues, net of discounts for the three months ended March 31, 2026 wa…

• Gross profit for the three months ended March 31, 2026 was $98,976, representing a gross profit margin of 47.5%. This is compared to gross profit for the three months ended March 31, 2025 of $99,581, which represented a gross profit margin of 47.5%. The slight decrease in gross profit during the thr…

• Net Loss attributable to the Company for the three months ended March 31, 2026 was $(17,823), an increase in net loss of $6,308, compared to a net loss of $(11,515) for the three months ended March 31, 2025. The increase in net loss was largely driven by a loss on debt extinguishment related to the …

Text removed vs the prior filing · source: 10-Q · 2025-10-29

• Our strategy is to vertically integrate as a single cohesive company in multiple states through the consolidation of seed-to-sale cultivating, manufacturing, distributing, and dispensing cannabis brands and products at scale. Our cultivation, processing and wholesale distribution of cannabis consume…

• The United States government has recently adopted new approaches to trade policy and has announced tariffs on certain foreign goods and the possibility of significant additional tariff increases or expansions of tariffs. The timing and scope of such tariffs by the United States and retaliatory tarif…

• Revenues, net of discounts, for the three months ended September 30, 2025 was $202,810, a decrease of $13,873 or 6%, compared to revenue of $216,683 for the three months ended September 30, 2024. The decrease in revenue, net of discounts, was primarily attributable to price compression across severa…

• Gross profit for the three months ended September 30, 2025 was $95,237, representing a gross profit margin of 47%. This is compared to gross profit for the three months ended September 30, 2024 of $109,097, which represented a gross profit margin of 50%. The decrease was driven by a decline in reven…

• Net loss attributable to the Company for the three months ended September 30, 2025 was $(43,832), an increase of $1,265, compared to a net loss of $(42,567) for the three months ended September 30, 2024. The increase was primarily driven by a decrease in gross profit margin coupled with a loss conti…

Text added vs the prior filing · source: 10-Q · 2026-04-30

• During the first quarter ended March 31, 2026, none of our directors or officers have adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Regulation S-K, Item 408(a).

Text removed vs the prior filing · source: 10-Q · 2025-10-29

• During the three months ended September 30, 2025, the directors and officers of the Company (as defined in Rule 16a-1(f) of the Exchange Act) set forth below adopted prearranged share trading plans with brokerage firms, each of which was entered into during an open trading window under the Company's…

• NameTitleDate of AdoptionEstimated Aggregate Number of Subordinate Voting Shares for Sale

• Chair of the Board and Chief Executive OfficerSeptember 15, 20253,000,000N/A

• Chief Legal Officer, General Counsel and SecretarySeptember 10, 2025176,799December 31, 2026

• Chief Operating OfficerSeptember 5, 202536,668December 31, 2025