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Cannabis Strategic Ventures Reports Q2 Results: Revenues Up 1,317% to Over $700K

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

LOS ANGELES, Nov. 25, 2019 (GLOBE NEWSWIRE) — via NetworkWire – Cannabis Strategic Ventures (OTCQB:NUGS), an emerging leader in the U.S. cannabis marketplace, reports financial results for the second quarter which ended Sept. 30, 2019.
“Q2 ushered in a new standard across all top-line metrics and we expect to continue expanding on this growth through Q3 and beyond,” commented Simon Yu, CEO, Cannabis Strategic Ventures. “Over the last two years, we have secured and invested capital to help drive revenue and substantially increase the Company’s total assets while improving gross profit margins. We expect continued growth to the top-line along with a declining drop in net losses next year.”Second Quarter 2019 Financial HighlightsConsolidated quarterly revenue growth of 1,317% to $707K compared to the same period last year.Cash and cash equivalents up 205% over past six-month period to $228KInventories up to $1.14 millionTotal assets up 322% year-over-year to $18.03 millionSecond Quarter 2019 Corporate HighlightsQ2 2019 represents breakthrough quarter for revenue growthThe Company projects continued revenue growth to followAssets swelled to over $18 million due to capital infusionsThe Company breaks $1 million level inventory for the first timeFuture revenue projections suggest diminishing losses through 2020“We experienced acceleration in top-line growth in Q2 as we expanded the scale of our operations through new investments,” continued Yu. “As we press forward, we anticipate growth to continue in the months ahead. The message to our shareholders right now is this: Cannabis Strategic Ventures is committed to aggressive expansion as we gradually move toward profitability. We are becoming simultaneously bigger and more efficient with every passing month and are confident in our mission to create shareholder value.”For more information, visit http://www.CannabisStrategic.comExamples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.Corporate Communications:
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