Coastal Pines Group 2023 revenue $13.6M, net loss $1.3M; working capital deficit $13.6M

BLUM HOLDINGS, INC.

Net loss of $1.32M in 2023 (improved from $2.21M loss in 2022); operating income of $0.08M.
Revenue declined 14% YoY to $13.61M; cost of goods sold $6.93M.
Working capital deficit of $13.55M and shareholders' deficit of $12.35M at Dec 31, 2023.
Auditor expresses substantial doubt about going concern; acquired by Blum on May 1, 2024.
Pro forma financial statements filed with combined balance sheet and income statement for 2023.

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