Exhibit 99.1

General Cannabis Announces Record Revenues and 2018

Second Quarter Results


DENVER, August 8, 2018 – General Cannabis Corp (OTCQX: CANN), the comprehensive national resource to the regulated cannabis industry, today announced financial results for the quarter ended June 30, 2018.


Financial Highlights


The following table summarizes our results of operations:


 

 

Three months ended

June 30,

 

Percent

 

 

2018

 

2017

 

Change

Segment Revenues

 

 

 

 

 

 

Security

$

614,281

$

364,306

 

69%

Marketing

 

97,973

 

69,535

 

41%

Operations

 

402,287

 

365,899

 

10%

Finance

 

 

33,865

 

(100)%

 

 

1,114,541

 

833,605

 

34%

 

 

 

 

 

 

 

Total costs and expenses

 

3,605,858

 

2,158,810

 

67%

Operating loss

 

(2,491,317)

 

(1,325,205)

 

88%

 

 

 

 

 

 

 

Other expense

 

1,177,980

 

272,499

 

332%

Net loss

$

(3,669,297)

$

(1,597,705)

 

130%

 

 

 

 

 

 

 

Loss per share – Basic and diluted

$

(0.10)

$

(0.08)

 

25%


 

 

Six months ended

June 30,

 

Percent

 

 

2018

 

2017

 

Change

Segment Revenues

 

 

 

 

 

 

Security

$

1,166,258

$

789,444

 

48%

Marketing

 

182,464

 

113,822

 

60%

Operations

 

708,301

 

583,095

 

21%

Finance

 

 

66,349

 

(100)%

 

 

2,057,023

 

1,552,710

 

32%

 

 

 

 

 

 

 

Total costs and expenses

 

7,714,822

 

5,065,037

 

52%

Operating loss

 

(5,657,799)

 

(3,512,327)

 

61%

 

 

 

 

 

 

 

Other expense

 

2,477,885

 

715,463

 

246%

Net loss

$

(8,135,684)

$

(4,227,790)

 

92%

 

 

 

 

 

 

 

Loss per share – Basic and diluted

$

(0.23)

$

(0.22)

 

7%


The following provides a condensed version of our balance sheets:


 

 

June 30,

 

December 31,

 

Percent

 

 

2018

 

2017

 

Change

Total current assets

$

11,628,602

$

6,190,411

 

88%

Long-term assets

 

1,633,713

 

1,413,515

 

16%

Total assets

$

13,262,315

$

7,603,926

 

74%

 

 

 

 

 

 

 

Total liabilities

$

3,333,240

$

4,097,929

 

(19)%

Stockholders’ equity

 

9,929,075

 

3,505,997

 

183%

Total liabilities and stockholders’ equity

$

13,262,315

$

7,603,926

 

74%



The following information was filed by General Cannabis Corp (CANN) on Thursday, August 9, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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