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Freedom Leaf fiscal Q3 loss widens 90.6% YOY

Freedom Leaf Inc. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of $286,900, compared with a loss of $150,550 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue increased 39.6% year over year to $68,760 from $49,240, and total operating expenses climbed 71.7% on an annual basis to $498,140 from $290,120.

Reported net income came to a loss of $459,040, or a loss of 0 cents per share, compared to a loss of $240,880, or a loss of 0 cents per share, in the prior-year period.