Sugarmade Inc (SGMD)

[trader60609]

Another Sugamade Acquisition! Remember what happened last time to the stock price when they announced an acquisition. It went from somewhere like it is now to over $0.70 in only a few days. The shares went up huge.

Let's see what happens this time around.

This is from the company's Facebook site this evening.

Sugarmade announces it plans to acquire Bao Coc International Paper & Plastic, LTD of Vietnam, which is a a manufacturer of high-grade post consumer paper products. Sugarmade expects the acquisition to be accretive to the Company’s revenues and earnings.

CEO Jimmy Chan:
“We plan to fully integrate this Vietnamese operation into Sugarmade as we believe it fits well into our increasingly environmental friendly product portfolio. Additionally, it will increase both our revenue growth and earnings. We have also entered into negotiations for at least two other accretive acquisitions, which will add further to our corporate growth and development.”

Sugarmade expects to realize approximately $800,000 to $1 million of new revenue and positive cash flow from the Bao Coc acquisition over the 12-month period subsequent to the closing of the transaction.