Freedom Leaf Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of $1.2 million, compared with a loss of $106,320 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue declined 87.0% on an annual basis to $16,560 from $127,210, and total operating expenses rose on an annual basis to $1.9 million from $297,310.
Reported net income totaled a loss of $1.9 million, or a loss of 1 cents per share, compared to a loss of $170,110, or a loss of 0 cents per share, in the year-earlier period.
