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$GEGI merger news/8k is coming up soon
$PVSP Artizen™ is the 9th largest cannabis consumer brand in North America according to MJBiz Magazine, November 2021. Pervasip acquired the Artizen IP and made Artizen the first of possibly many consumer focused brands in our brand arsenal.
https://www.pervasip.net/artizen
$AITX ’s Subsidiary Robotic Assistance Devices Concludes GSX 2022 With Pre-Orders for 30 RIO Portable Solar Powered Security Towers https://lnkd.in/eghNcA_r #security #news #solarpowered #robotics
$PVSP reports that various new product lines and planned near-term acquisitions will add revenue, new growth opportunities, and be a springboard for expansion into other recreational cannabis markets in the US.
$PVSP The Company's Strategic Outlook Summary through Q4 2024
Focus on expanding its Washington State footprint, strengthening its brand repertoire and aggressively expanding its product lineup
We expect in-state revenues generated by all brands and across all product categories to reach $30 million in annualized revenue by end of Q4 2024 with Gross Margins reaching 40% and an adjusted EBIDTA of 30%
Pervasip/Artizen Corp plans to expand its national reach by adding various recreational states to its brand footprint, either via licensing agreements or through acquisitions of recreational cultivation and retail licenses
95% of revenue from Artizen’s brands has come from sales of cannabis flower, supporting its position of the 9th most sold independent flower brand in North America; acquisitions and partnerships will open access to concentrates and edible verticals representing 40% of market sales and heretofore not covered by Artizen products
Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
$PVSP Market Overview – Washington: The below Washington State (WA) sales by category chart provides information on how monthly sales of approximately $100 million in retail sales breaks down by product category. It might also be informative to understand that June ’22 sales over June ’19 sales (pre pandemic) show an almost 17% increase. While WA sales are slightly above other mature cannabis states (NV, CO, OR), similar increases can be seen in those markets. An exuberant pandemic triggered belief in continued rapid growth has led to over development of production infrastructure and resulted in material oversupply of bulk cannabis flower. The market is in the process of correcting and the Company estimates Q3 2023 being the end of the corrective period, resulting in strengthening prices.
$100M In Monthly Sales By Category
After several years of recreational sales, the mature markets provide relevant insights into future sales distribution across key categories with flower and pre-rolls still leading at 59%, followed by concentrates (dabs/vape) at 29% and finally edibles and beverages at a combined 9%
Artizen brands will materially expand their flower market share and enter the concentrates and edibles market with a goal of occupying top 10% market share positions in each vertical.
Strategic Outlook Summary through Q4 2024
Focus on expanding its Washington State footprint, strengthening its brand repertoire and aggressively expanding its product lineup
We expect in-state revenues generated by all brands and across all product categories to reach $30 million in annualized revenue by end of Q4 2024 with Gross Margins reaching 40% and an adjusted EBIDTA of 30%
Pervasip/Artizen Corp plans to expand its national reach by adding various recreational states to its brand footprint, either via licensing agreements or through acquisitions of recreational cultivation and retail licenses
95% of revenue from Artizen’s brands has come from sales of cannabis flower, supporting its position of the 9th most sold independent flower brand in North America; acquisitions and partnerships will open access to concentrates and edible verticals representing 40% of market sales and heretofore not covered by Artizen products
Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail
Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$PVSP developer of companies and technologies in high value emerging markets, together with Zen Asset Management today announced its 2-year strategic roadmap.
“On the heels of Artizen Corporation’s reverse merger to acquire Pervasip Corp, the cannabis industry experienced a dramatic post pandemic contraction. Planned restructuring efforts had already launched in late 2021 and we took even more aggressive steps to further rationalize our business, dispose of undervalued assets, re-focus on higher margin products and allowed our leading brands to take a more aggressive posture to increase market share. Healthy inventory amounts provided for extraordinary financing via cashflow, albeit at extremely low margins, a carefully considered short term decision which has now come to an end as we have achieved our goals. All these efforts position us nicely for healthy financial growth in 2023. As promised, we have also finalized a 24-month roadmap and are in a position to provide carefully considered guidance in a market that is still extremely unpredictable,” said German Burtscher, Pervasip CEO. “It is also important to note that all the Artizen brands’ revenue is wholesale, revenue derived from sales to retailers. The vast majority of MSOs report revenues and resulting financials that include retail sales from stores they own in addition to usually rather small wholesale revenue, all mostly generated in protected markets. Washington State (WA) cannabis sales are taxed at 47% (!) and each dollar sold by a producer/processor is marked up 3 – 3.5 times by the retailers they sell to. Generating profitable revenue in WA will translate extremely well once our brands and operating expertise is applied in other recreational markets.”
Market Overview – Washington
The below Washington State (WA) sales by category chart provides information on how monthly sales of approximately $100 million in retail sales breaks down by product category. It might also be informative to understand that June ’22 sales over June ’19 sales (pre pandemic) show an almost 17% increase. While WA sales are slightly above other mature cannabis states (NV, CO, OR), similar increases can be seen in those markets. An exuberant pandemic triggered belief in continued rapid growth has led to over development of production infrastructure and resulted in material oversupply of bulk cannabis flower. The market is in the process of correcting and the Company estimates Q3 2023 being the end of the corrective period, resulting in strengthening prices.
$100M In Monthly Sales By Category
After several years of recreational sales, the mature markets provide relevant insights into future sales distribution across key categories with flower and pre-rolls still leading at 59%, followed by concentrates (dabs/vape) at 29% and finally edibles and beverages at a combined 9%
Artizen brands will materially expand their flower market share and enter the concentrates and edibles market with a goal of occupying top 10% market share positions in each vertical.
Strategic Outlook Summary through Q4 2024
Focus on expanding its Washington State footprint, strengthening its brand repertoire and aggressively expanding its product lineup
We expect in-state revenues generated by all brands and across all product categories to reach $30 million in annualized revenue by end of Q4 2024 with Gross Margins reaching 40% and an adjusted EBIDTA of 30%
Pervasip/Artizen Corp plans to expand its national reach by adding various recreational states to its brand footprint, either via licensing agreements or through acquisitions of recreational cultivation and retail licenses
95% of revenue from Artizen’s brands has come from sales of cannabis flower, supporting its position of the 9th most sold independent flower brand in North America; acquisitions and partnerships will open access to concentrates and edible verticals representing 40% of market sales and heretofore not covered by Artizen products
Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail
Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$PVSP in beautiful Port Townsend, on the northern end of the Olympic Peninsula, this gorgeous light deprivation greenhouse garden is producing beautiful flower and is home to some of the more exotic genetics in the Artizen brand. At 39,000 square feet it is the second largest of all of the gardens growing Artizen branded flower.
$PVSP Pervasip Corp., a developer of companies and technologies in high value emerging markets, owns Artizen Corporation and its subsidiary, Zen Asset Management LLC, a diversified asset management company founded to acquire, develop, and support companies and technologies in the cannabis industry. ZAM’s existing clients operate four licensed cannabis cultivation and one processing facility in Washington. Most of the biomass produced by these independent cultivators has been sold historically under the Artizen™ brand, including all-time top selling products in flower in Washington state. Additional information on Artizen-branded products is available online at www.artizencannabis.com. Pervasip additionally owns 5% of KRTL Biotech, Inc., a developer of biotechnologies with a focus on pharmaceutical applications of cannabinol and psilocybin. Additional information on KRTL is available online at www.krtlbiotech.com. Additional information on Pervasip can be found at www.pervasip.net.
https://www.barrons.com/articles/pervasip-announces-1-6-million-in-august-revenues-and-3rd-quarter-guidance-01663075206?mod=md_stockoverview_news
$PVSP will continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines.
$PVSP (GLOBE NEWSWIRE) -- Pervasip Corp. (OTC: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, together with Zen Asset Management, today announced that Artizen reached sales of $1.6 million in August.
“Marking the best sales month ever is a testament to the hard work of the team and quality of Artizen branded products in these difficult market conditions,” says German Burtscher, Pervasip’s CEO. “August also marks the close of the 3rd quarter and the restructuring efforts of the last several months are starting to show improvement across many key financial performance indicators, including cashflow for Q3. As we further rationalize our business, including shedding of underperforming assets, we will continue to prioritize margins over revenue to build lasting financial health and strengthening fundamentals important to support our growth. We are achieving a more balanced ratio of revenues across all product categories which will serve the Company well as it goes into Q4.”
The Company also reports that various new product lines and planned near-term acquisitions will add revenue, new growth opportunities, and be a springboard for expansion into other recreational cannabis markets in the US.
$HWAL..Rumors of a big event coming to the company..Buying a few.
$PVSP Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail: Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$PVSP Pervasip Corp. (PVSP) is a developer of companies and technologies in high value emerging markets with a focus on cannabis and the medical use of fungi and psychedelics
$PVSP Our focus is on developing and investing in companies and technologies in high value emerging markets, specifically Cannabis and Medical Fungi. We look for investments in operators who will become the foundational base for growth in each segment and related technologies and research assets that can support near term and future expansion.
https://www.pervasip.net/about
$GEGI Updates/Merger News On The Way!
https://insiderfinancial.com/genesis-electronics-group-otcmkts-gegi-keeps-ascending-exponentially/183482/
$NGTF Hotels Wake up to Sleep-Friendly Nighttime Snacks. One Company is Capitalizing on this High-Margin Hotel Opportunity: $NGTF Nightfood, Inc. Recent Study shows $NGTF Ice Cream Pint Hotel Sales are approaching Haagen Dazs and More Established Brands. https://finance.yahoo.com/news/nightfood-ice-cream-challenging-leading-120000580.html
$PVSP Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024.
$PVSP In addition, the Company has decided to announce that no reverse splits will be entertained for the next 5 years. The only exception would be a future uplisting to OTCQX.
“We are still planning to complete our audits and uplist to OTCQB as soon as possible,” continued Burtscher. “In the meantime, we will follow through on our operating plans, continue to restructure and generate value for our shareholders. Addressing shareholder concerns regarding potential reverse splits has been on our mind for a while. A 5-year horizon will cover all eventualities, including equity that will be seasoned over the next 2 years.”
https://www.marketwatch.com/press-release/pervasip-announces-2-billion-authorized-share-reduction-and-no-reverse-splits-for-5-years-2022-07-21?mod=mw_quote_news_seemore
$GTVH big news out! Golden Triangle Ventures, Inc. Announces New CEO for Global Health Services Operating Under Its Health Division https://finance.yahoo.com/news/golden-triangle-ventures-inc-announces-123000511.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @YahooFinance
$PVSP Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail: Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$PVSP Sept. 06, 2022 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTC: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, together with Zen Asset Management today announced its 2-year strategic roadmap.
“On the heels of Artizen Corporation’s reverse merger to acquire Pervasip Corp, the cannabis industry experienced a dramatic post pandemic contraction. Planned restructuring efforts had already launched in late 2021 and we took even more aggressive steps to further rationalize our business, dispose of undervalued assets, re-focus on higher margin products and allowed our leading brands to take a more aggressive posture to increase market share. Healthy inventory amounts provided for extraordinary financing via cashflow, albeit at extremely low margins, a carefully considered short term decision which has now come to an end as we have achieved our goals. All these efforts position us nicely for healthy financial growth in 2023. As promised, we have also finalized a 24-month roadmap and are in a position to provide carefully considered guidance in a market that is still extremely unpredictable,” said German Burtscher, Pervasip CEO. “It is also important to note that all the Artizen brands’ revenue is wholesale, revenue derived from sales to retailers. The vast majority of MSOs report revenues and resulting financials that include retail sales from stores they own in addition to usually rather small wholesale revenue, all mostly generated in protected markets. Washington State (WA) cannabis sales are taxed at 47% (!) and each dollar sold by a producer/processor is marked up 3 – 3.5 times by the retailers they sell to. Generating profitable revenue in WA will translate extremely well once our brands and operating expertise is applied in other recreational markets.”
Market Overview – Washington
The below Washington State (WA) sales by category chart provides information on how monthly sales of approximately $100 million in retail sales breaks down by product category. It might also be informative to understand that June ’22 sales over June ’19 sales (pre pandemic) show an almost 17% increase. While WA sales are slightly above other mature cannabis states (NV, CO, OR), similar increases can be seen in those markets. An exuberant pandemic triggered belief in continued rapid growth has led to over development of production infrastructure and resulted in material oversupply of bulk cannabis flower. The market is in the process of correcting and the Company estimates Q3 2023 being the end of the corrective period, resulting in strengthening prices.
$100M In Monthly Sales By Category
After several years of recreational sales, the mature markets provide relevant insights into future sales distribution across key categories with flower and pre-rolls still leading at 59%, followed by concentrates (dabs/vape) at 29% and finally edibles and beverages at a combined 9%
Artizen brands will materially expand their flower market share and enter the concentrates and edibles market with a goal of occupying top 10% market share positions in each vertical.
Strategic Outlook Summary through Q4 2024
Focus on expanding its Washington State footprint, strengthening its brand repertoire and aggressively expanding its product lineup
We expect in-state revenues generated by all brands and across all product categories to reach $30 million in annualized revenue by end of Q4 2024 with Gross Margins reaching 40% and an adjusted EBIDTA of 30%
Pervasip/Artizen Corp plans to expand its national reach by adding various recreational states to its brand footprint, either via licensing agreements or through acquisitions of recreational cultivation and retail licenses
95% of revenue from Artizen’s brands has come from sales of cannabis flower, supporting its position of the 9th most sold independent flower brand in North America; acquisitions and partnerships will open access to concentrates and edible verticals representing 40% of market sales and heretofore not covered by Artizen products
Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail
Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$PVSP in beautiful Port Townsend, on the northern end of the Olympic Peninsula, this gorgeous light deprivation greenhouse garden is producing beautiful flower and is home to some of the more exotic genetics in the Artizen brand. At 39,000 square feet it is the second largest of all of the gardens growing Artizen branded flower.
$PVSP Update
$PVSP Q: What does it take to bring a new product to market? Or all products when you enter a new market? Don't you just grow a few plants after all?
— Pervasip Corp (@PervasipC) September 12, 2022
$PVSP Announces $1.6 Million in August Revenues and 3rd Quarter Guidance https://finance.yahoo.com/news/pervasip-announces-1-6-million-131500755.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @YahooFinance
$NGTF HUUUUGGGEEE!! Hotels Wake up to Sleep-Friendly Nighttime Snacks. One Company is Capitalizing on this High-Margin Hotel Opportunity: Nightfood, Inc. (Stock Symbol: NGTF)
Recent Study shows $NGTF Ice Cream Pint Hotel Sales are approaching Haagen Dazs and More Established Brands. https://finance.yahoo.com/news/nightfood-ice-cream-challenging-leading-120000580.html
$PVSP News! Pervasip Announces $1.6 Million in August Revenues and 3rd Quarter Guidance https://finance.yahoo.com/news/pervasip-announces-1-6-million-131500755.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @YahooFinance
$PVSP plans to expand its national reach by adding various recreational states to its brand footprint, either via licensing agreements or through acquisitions of recreational cultivation and retail licenses
95% of revenue from Artizen’s brands has come from sales of cannabis flower, supporting its position of the 9th most sold independent flower brand in North America; acquisitions and partnerships will open access to concentrates and edible verticals representing 40% of market sales and heretofore not covered by Artizen products
Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail
Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$SWISF news alert: Secure Like Swiss? The Data Privacy Company That Reports Globalizing Its Currency Options https://finance.yahoo.com/news/secure-swiss-data-privacy-company-132149225.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @YahooFinance
$PVSP (GLOBE NEWSWIRE) -- Pervasip Corp. (OTC: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, together with Zen Asset Management today announced its 2-year strategic roadmap.
“On the heels of Artizen Corporation’s reverse merger to acquire Pervasip Corp, the cannabis industry experienced a dramatic post pandemic contraction. Planned restructuring efforts had already launched in late 2021 and we took even more aggressive steps to further rationalize our business, dispose of undervalued assets, re-focus on higher margin products and allowed our leading brands to take a more aggressive posture to increase market share. Healthy inventory amounts provided for extraordinary financing via cashflow, albeit at extremely low margins, a carefully considered short term decision which has now come to an end as we have achieved our goals. All these efforts position us nicely for healthy financial growth in 2023. As promised, we have also finalized a 24-month roadmap and are in a position to provide carefully considered guidance in a market that is still extremely unpredictable,” said German Burtscher, Pervasip CEO. “It is also important to note that all the Artizen brands’ revenue is wholesale, revenue derived from sales to retailers. The vast majority of MSOs report revenues and resulting financials that include retail sales from stores they own in addition to usually rather small wholesale revenue, all mostly generated in protected markets. Washington State (WA) cannabis sales are taxed at 47% (!) and each dollar sold by a producer/processor is marked up 3 – 3.5 times by the retailers they sell to. Generating profitable revenue in WA will translate extremely well once our brands and operating expertise is applied in other recreational markets.”
Market Overview – Washington
The below Washington State (WA) sales by category chart provides information on how monthly sales of approximately $100 million in retail sales breaks down by product category. It might also be informative to understand that June ’22 sales over June ’19 sales (pre pandemic) show an almost 17% increase. While WA sales are slightly above other mature cannabis states (NV, CO, OR), similar increases can be seen in those markets. An exuberant pandemic triggered belief in continued rapid growth has led to over development of production infrastructure and resulted in material oversupply of bulk cannabis flower. The market is in the process of correcting and the Company estimates Q3 2023 being the end of the corrective period, resulting in strengthening prices.
$100M In Monthly Sales By Category
After several years of recreational sales, the mature markets provide relevant insights into future sales distribution across key categories with flower and pre-rolls still leading at 59%, followed by concentrates (dabs/vape) at 29% and finally edibles and beverages at a combined 9%
Artizen brands will materially expand their flower market share and enter the concentrates and edibles market with a goal of occupying top 10% market share positions in each vertical.
Strategic Outlook Summary through Q4 2024
Focus on expanding its Washington State footprint, strengthening its brand repertoire and aggressively expanding its product lineup
We expect in-state revenues generated by all brands and across all product categories to reach $30 million in annualized revenue by end of Q4 2024 with Gross Margins reaching 40% and an adjusted EBIDTA of 30%
Pervasip/Artizen Corp plans to expand its national reach by adding various recreational states to its brand footprint, either via licensing agreements or through acquisitions of recreational cultivation and retail licenses
95% of revenue from Artizen’s brands has come from sales of cannabis flower, supporting its position of the 9th most sold independent flower brand in North America; acquisitions and partnerships will open access to concentrates and edible verticals representing 40% of market sales and heretofore not covered by Artizen products
Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail
Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$PVSP Our focus is on developing and investing in companies and technologies in high value emerging markets, specifically Cannabis and Medical Fungi. We look for investments in operators who will become the foundational base for growth in each segment and related technologies and research assets that can support near term and future expansion.
https://www.pervasip.net/about
$PVSP Pervasip Announces 2 Billion Authorized Share Reduction and no Reverse Splits for 5 Years
https://finance.yahoo.com/news/pervasip-announces-2-billion-authorized-131500670.html
$PVSP brands like ArtizenTM, well-oiled distribution, top notch management teams and healthy, transparent financial structures, will be the ultimate winners in this space.
https://www.marketwatch.com/press-release/restructuring-leading-to-500000-in-annual-cost-savings-plus-new-customer-contracts-2022-08-04?mod=mw_quote_news_seemore
$AITX AITX's Subsidiary Robotic Assistance Devices Closes Fiscal Quarter with a Surge of Sales Activity https://finance.yahoo.com/news/aitxs-subsidiary-robotic-assistance-devices-124000191.html
$PVSP will acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business.
$PVSP Pervasip Corp. (OTC: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, together with Zen Asset Management today announced its 2-year strategic roadmap.
“On the heels of Artizen Corporation’s reverse merger to acquire Pervasip Corp, the cannabis industry experienced a dramatic post pandemic contraction. Planned restructuring efforts had already launched in late 2021 and we took even more aggressive steps to further rationalize our business, dispose of undervalued assets, re-focus on higher margin products and allowed our leading brands to take a more aggressive posture to increase market share. Healthy inventory amounts provided for extraordinary financing via cashflow, albeit at extremely low margins, a carefully considered short term decision which has now come to an end as we have achieved our goals. All these efforts position us nicely for healthy financial growth in 2023. As promised, we have also finalized a 24-month roadmap and are in a position to provide carefully considered guidance in a market that is still extremely unpredictable,” said German Burtscher, Pervasip CEO. “It is also important to note that all the Artizen brands’ revenue is wholesale, revenue derived from sales to retailers. The vast majority of MSOs report revenues and resulting financials that include retail sales from stores they own in addition to usually rather small wholesale revenue, all mostly generated in protected markets. Washington State (WA) cannabis sales are taxed at 47% (!) and each dollar sold by a producer/processor is marked up 3 – 3.5 times by the retailers they sell to. Generating profitable revenue in WA will translate extremely well once our brands and operating expertise is applied in other recreational markets.”
Market Overview – Washington
The below Washington State (WA) sales by category chart provides information on how monthly sales of approximately $100 million in retail sales breaks down by product category. It might also be informative to understand that June ’22 sales over June ’19 sales (pre pandemic) show an almost 17% increase. While WA sales are slightly above other mature cannabis states (NV, CO, OR), similar increases can be seen in those markets. An exuberant pandemic triggered belief in continued rapid growth has led to over development of production infrastructure and resulted in material oversupply of bulk cannabis flower. The market is in the process of correcting and the Company estimates Q3 2023 being the end of the corrective period, resulting in strengthening prices.
$100M In Monthly Sales By Category
After several years of recreational sales, the mature markets provide relevant insights into future sales distribution across key categories with flower and pre-rolls still leading at 59%, followed by concentrates (dabs/vape) at 29% and finally edibles and beverages at a combined 9%
Artizen brands will materially expand their flower market share and enter the concentrates and edibles market with a goal of occupying top 10% market share positions in each vertical.
Strategic Outlook Summary through Q4 2024
Focus on expanding its Washington State footprint, strengthening its brand repertoire and aggressively expanding its product lineup
We expect in-state revenues generated by all brands and across all product categories to reach $30 million in annualized revenue by end of Q4 2024 with Gross Margins reaching 40% and an adjusted EBIDTA of 30%
Pervasip/Artizen Corp plans to expand its national reach by adding various recreational states to its brand footprint, either via licensing agreements or through acquisitions of recreational cultivation and retail licenses
95% of revenue from Artizen’s brands has come from sales of cannabis flower, supporting its position of the 9th most sold independent flower brand in North America; acquisitions and partnerships will open access to concentrates and edible verticals representing 40% of market sales and heretofore not covered by Artizen products
Artizen projects it will generate $50 million in annualized revenues nationally by end of Q4 2024; this is a conservative estimate that does not include any potential revenue multiples from acquisition of retail opportunities.
24 Months plan detail
Rename Pervasip Corp to Artizen Corporation by year end 2022 to better reflect the new focus of the company
Change the OTC ticker symbol
Re-brand all Pervasip/Artizen assets
Continue to rationalize the business through Q1 2023 with a focus on operating margins, shedding underperforming assets, consolidating operations and focus in-house talent on higher margin operations and product lines
Acquire concentrates assets by end of 2022, launching into the highly lucrative concentrates business
Expand flower and concentrates offerings within our brands as well as adding new brands for certain product offerings and price points through Q1 2023
Complete the audit and begin the OTC QB application process during Q2 2023
Launch Artizen Wellness Q2 2023
Enter the edibles market in Q2 2023 via acquisition and partnerships
Artizen becomes an MSO with cultivation and retail assets in 1 – 2 additional states during 2nd half of 2024, beginning its state expansion in Q1 2023, initially through brand licensing opportunities and strategic partnerships, and eventually via acquisitions and mergers during Q3 and Q4 2024
Close first brand licensing agreement by end of Q4 2022
Close one brand licensing deal every quarter thereafter
Financial Outlook Q3 2022 through Q4 2023
Reach $2.0 million in monthly revenue by end of Q1 2023
Reach $2.5 million or $30 million in annualized revenue by end of Q4 2023 with 30% in adjusted EBIDTA
Reach $3.0 million or $36 million in annualized revenues by end of Q2 2024 with 35% in adjusted EBIDTA
Reach $50 million in annualized revenue with 35% in adjusted EBIDTA
$PVSP in beautiful Port Townsend, on the northern end of the Olympic Peninsula, this gorgeous light deprivation greenhouse garden is producing beautiful flower and is home to some of the more exotic genetics in the Artizen brand. At 39,000 square feet it is the second largest of all of the gardens growing Artizen branded flower.
$GEGI .0062 Pre-Merger Play...Change of Control~~Merger Next!
https://insiderfinancial.com/genesis-electronics-group-otcmkts-gegi-keeps-ascending-exponentially/183482/
PBHG is on Huge Fire again today! This hidden gem had already bounced to 0.0026 on 12/30/2021! PBHG has the Same Sought-After FIXED Low SS since 12/31/2019 --- only 5B shares Low AS and 4.595B shares Low OS plus 2.6B Restricted shares! Easy to surge over its recent high 0.0055 with current Red-Hot NFT (Non-Fungible Token) Business and/or potential Huge CBD&MJ (Cannabis & Medical Marijuana) Reverse-Merger or Buy-Out deal plus its On-Going Great NASDAQ Up-Listing milestone...
At Hyper Oversold status --- from its recent high 0.0055 to 52-week-low 0.0003 without any bad news at all!
Super Undervalued now --- mere $1.3M MV (which is ridiculous low) at the Bottom while it has $1.8M Huge asset!
Buying its Marijuana peer (MJNA) at 0.222 = buying PBHG at 0.224313 which is 747.71 Times of its Bottom 0.0003!
Buying its peer (INND) at 0.098 = buying PBHG at 0.1515 which is 505 Times of the Bottom 0.0003!
Buying its peer (HPIL) at 0.0119 = buying PBHG at 0.0931 which is 310.333 Times of the Bottom 0.0003!
Buying its peer (AFTC) at 0.0038 = buying PBHG at 0.0595 which is 198.333 Times of the Bottom 0.0003!
So PBHG is Much Much Much Much Much Cheaper than GTVH, MJNA, INND, HPIL, and AFTC now!
$AITX News: AITX's Subsidiary Robotic Assistance Devices Introduces RIO, a Portable Solar-Powered Security Solution
August 29, 2022 (Globe Newswire)
EQNX::TICKER_START (Other OTC:AITX),(OTC US:AITX), EQNX::TICKER_END RIO Takes RAD's ROSA to New Heights and Into New Markets
Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has introduced RIO, a portable, solar-powered security solution. RIO is the Company's first product announced for a wider market sector, positioning RAD solutions outside of the traditional manned-guarding security industry.
RIO (ROSA Independent Observatory) continues the productization of RAD's best-selling, multiple award-winning security robot known as ROSA. RIO consists of a single ROSA 3.1 unit mounted atop a solar-powered portable trailer, with the option of adding a second ROSA unit.
The Company has been conducting a pre-order program for RIO through its dealer channel and to select end-users. This pre-order program will run through mid-September and RAD expects to report pre-order activity in the coming weeks.
"RIO is possibly our most exciting product announcement to date," said Steve Reinharz, CEO of AITX and RAD. "Over the years, and at the cost of millions of dollars in R&D and engineering, RAD has developed a wealth of proprietary technology. That RAD technology is now being directed into new markets, which until today have been settling for legacy solutions from a multitude of suppliers, who've pieced together commodity components, delivering poor performance and even weaker returns on investment. RIO is poised to be a game-changer at big-box retailers, construction sites, hospital campuses, entertainment venues and so many more vertical markets," Reinharz added.
RIO has been designed with portability and round-the-clock performance in mind. At its base stands a ruggedized portable trailer positioning the unit's two solar panels and housing the device's high-performance batteries and control systems. RIO's retractable mast extends nearly 20' where a single ROSA is mounted providing an ideally positioned 180 field of view. To achieve a 360 field of view, a ROSA-Expander unit is also available.
"The RAD dealer channel is excited about RIO," said Mark Folmer, President at RAD. "RIO gives RAD dealers a lower-cost, higher-margin, higher-volume solution to offer their clients. We privately introduced RIO to our network of dealers and have received overwhelming interest, plus we're actively booking pre-orders. We expect the security industry's response to be even greater when we officially present RIO at GSX in two weeks." RAD will be exhibiting in booth #1650 at GSX in Atlanta at the Georgia World Congress Center, September 12 through 14.
"If RIO captures just a modest market share of the existing and large solar-powered security trailer business, it could swiftly propel RAD's recurring monthly revenue numbers to yet another new orbit. RIO is the solution that can get us there," Reinharz concluded.
RAD offers several RIO monitoring options, including the monitoring services provided by RAD dealers, third-party remote monitoring service providers, as well as RAD's exclusive RADSoC cloud-based application, with desktop and mobile monitoring options. RIO, like all other RAD security robot solutions is cellular optimized for robust, near Wi-Fi quality connectivity, with cellular service included with the device's subscription service.
Pricing has not been announced, for more information on RIO contact RAD at 877-787-6268 or visit radsecurity.com/rio
RAD's parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, it includes all necessary communications hardware. ROSA's AI-driven security analytics include human, firearm, vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD's software suite notification and autonomous response library. Two-way communication is optimized for cellular, including live video from ROSA's dual high-resolution, full-color, always-on cameras. RAD has published two Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at car rental locations and construction sites across the country.
Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all design elements, performance, quality, and the user's experience of all security robots whether SCOT, ROSA, Wally, Wally HSO, AVA ROAMEO, CASSIE, RIO, or RAD Light My Way. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto, and request a copy of the recently published 'Navigating the New Economy: Jobs & Automation, Challenges & Opportunities'.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. No information contained in this news release should be construed as any indication whatsoever of the Company's future stock price, revenues, or results of operations. Additionally, industry data provided herein is of no predictive value regarding the future sale of the Company's products. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit http://www.aitx.ai, http://stevereinharz.com, http://www.radsecurity.com and http://www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
###
Steve Reinharz
949-636-7060
@SteveReinharz
Attachment
-- Artificial Intelligence Technology Solutions, Inc.
SUTI is on Fire again today after Good News last Friday! It has already bottomed out at its most recent low 0.0002!
Most likely SUTI will quickly run the Similar 5.5-Bagger rally to hit its most recent high 0.0011 again just like its peer (PBHG) did on 12/30/2021 --- 5.2-Bagger Quick rally from previous Bottom 0.0005 to its most recent high 0.0026!
Buying this Empty-Shell (SUTI) at 0.0011 = buying $1.8M-Huge-Asset Real Business (PBHG) at 0.0014 which is 4.67 Times of its Bottom 0.0003 or 3.5 Times of current ridiculous low price 0.0004!
So PBHG is Much Much Much Cheaper than SUTI and SIRC now!
$SIRC Reports Record Second Quarter 2022 Financial Results, Growing Revenue 746% to $66 Million
Link:
https://finance.yahoo.com/news/solar-integrated-roofing-corp-reports-123100702.html
Net Income Grew to $18.9 Million; Transition to Fully Reporting Company Accelerating Uplisting Strategy
HENDERSON, Nev., Aug. 23, 2022 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, today reported its financial and operational results for the second quarter ended June 30, 2022.
Key Second Quarter 2022 and Subsequent Highlights
Revenue in the second quarter ended June 30, 2022 increased 746% to $66.3 million, as compared $7.8 million in the second quarter of 2021.
Net income in the second quarter of 2022 was $18.9 million, or $0.04 per basic and diluted common share, as compared $(3.3) million, or $(0.01) per basic and diluted common share, in the second quarter of 2021.
Awarded 5-year blanket purchase agreement with the U.S. General Services Administration as part of the $5 billion in federal funds allocated to EV charging installations in the Biden Administration's Infrastructure Bill.
Secured agreement with AED to assist with the development and financing of turnkey alternative energy systems – comprised of solar, battery storage and EV charging solutions – for multiple existing hotel locations along with several planned future hotels.
Introduced an innovative low-income solar financing product to non-profit commercial entities through partnership with Renewable Energy Products Manufacturing ("REPM"), unlocking new commercial scale opportunities in a niche with minimal competition.
Filed audited financial statements for the year ended December 31, 2021 and transitioned to a more traditional December 31 fiscal year, positioning the Company to accelerate its uplisting strategy.
Participated in leading investor conferences nationally including the Planet MicroCap Showcase and LD Micro Invitational XII.
Management Commentary
"The second quarter of 2022 was marked by a strong cadence of continued execution – highlighted not only by record revenue and profitability, but the introduction of new partners and innovative financing products,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corp. “Our robust revenue growth has the potential to be much greater, constrained only by capital. Our recent successes have positioned us to achieve at least $225 million in revenue this year alone – with significant additional backlog and potential to expand beyond that figure – representing incredible momentum and laying the foundation for profitability with minimized dilution for years to come.
“With the completion of our audited financials, a transition to a more traditional December 31 fiscal year and continued efforts towards becoming a fully reporting company, we have now prepared the foundation for shareholder-friendly future capital formation and execution on our uplisting strategy – further spurring growth. We expect a future NASDAQ listing to bring additional liquidity and broaden our shareholder base through an enhanced profile within the investment community.
“Our partnership with REPM has allowed us to introduce an exciting new financing products to help non-profit customers install and realize the benefits of solar with no upfronts costs, and no credit threshold or income verification needed to qualify. We see additional opportunities for comparable financing products in the residential space as well. Financing products such as these have the potential to create a win-win situation for our customers and our shareholders by expanding the opportunity to install solar with groups that have historically been challenged to do so.
"Looking ahead to second half of 2022, are well positioned for sustained operational execution and year-over-year revenue growth and profitability. We are assembling the team needed to take the SIRC family of companies to the next level, forming a truly national organization with the ability to scale. I look forward to reporting on exciting milestones in the months ahead as we strive to create sustainable, long-term value for our shareholders,” concluded Massey.
Financial Results for the Second Quarter Ended June 30, 2022
Revenue in the second quarter of 2022 increased 746% to $66.3 million, as compared to $7.8 million in the second quarter of 2021. The increase was driven by the Company entering into new markets and engaging in larger-scale commercial projects.
Gross profit increased3,434% to $30.5 million, or 46% of revenues, in the second quarter of 2022, as compared $0.86 million, or 11% of total revenues, in the second quarter of 2021.
Operating expenses in the second quarter of 2022 totaled $9.4 million, as compared to $5.1 million in the second quarter of 2021. The increase was mainly attributable to increased operational scale, reflecting a larger national organization.
Net income for the second quarter of 2022 grew to $18.9 million, or $0.04 per basic and diluted common share, as compared to a net loss of $3.3 million, or $(0.01) per basic and diluted common share, in the second quarter of 2021.
Cash and cash equivalents totaled $0.5 million as of June 30, 2022, as compared to $1.1 million as of December 31, 2021.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power, roofing systems installation and EV charging company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.
Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us
$GTVH Golden Triangle Ventures Video
Diving Deeper Into The Company Itself
$HTSC KRTL Biotech Inc is a U.S. research and development company now working in Korea through KRTL Asia, with a consortium of experienced Korean and US doctors and researchers dedicated to improving mankind’s debilitating physical and mental ailments with progressive holistic solutions. Their disciplines are in the CBD and Psilocybin arena and will study and work with these and other plant based products.
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