- Red Light Holland’s cash, cash equivalents and investments in private companies total approximately $30 million
- The company has ~ $300,000 invested in two private companies, both of which have seen their valuation double
- CEO Todd Shapiro cited the company’s unrelenting discipline in managing expenses as key to its strong cash position
- Red Light Holland is an Ontario-based corporation engaged in the production and sale of a premium brand of magic truffles to the legal market in the Netherlands
- Red Light Holland Corp. (TRIP) is up 3.85 per cent, trading at C$0.27 per share at 10:40 am ET
Red Light Holland (TRIP) is pleased to announce that its cash, cash equivalents and investments in private companies total approximately $30 million.
The majority of this figure includes cash and cash equivalents but also includes approximately $300,000 invested in two private companies, both of which have seen their valuation double since an initial total investment of $150,000.
“Our unrelenting discipline in terms of managing our cash and expenses, while accomplishing so much, is something I’m extremely proud of,” said Todd Shapiro, CEO and Director of Red Light Holland.
“Over the 14 months since going public, we have achieved several significant milestones. We’ve been able to achieve these milestones while being responsible as we have diligently managed our cash burn. This fact speaks to the hard work and dedication of the strong team that we are building at Red Light Holland and our smart and careful ways of spending.
I’m supremely confident with where the company stands at present, and in my opinion, where we’ll be in the future, as we continue to be aggressive and responsible in our attempt to change the world for the better.”
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles to the legal market within the Netherlands.
Red Light Holland Corp. (TRIP) is up 3.85 per cent, trading at C$0.27 per share at 10:40 am ET.
