Skip to main content

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:
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkWire.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.