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$GRWG GrowGeneration presents..LOHI Music Festival After Party July 15, 2017 #420 #MJ
http://growgeneration.com
http://denver.carpediem.cd/events/3246851-saturday-lohi-after-party-tauk-friends-at-cervantes-at-cervantes-masterpiece-ballroom/
$GRWG Growgeneration Corp. Q2 looking forward "April setting a new monthly record and surpassing the $1.0 million monthly sales mark for the first time in the history of the Company."
Sales from the recently opened Denver South and San Bernardino stores will start being reflected in the Company's financial results in the second quarter. In April, management consolidated the Pueblo South store into the other two Pueblo stores.
For the full year
"With the new markets, we have planned for 2017, along with continued same-store sales growth, revenue for 2017 is projected to be approximately $15 million."
As the Company continues to scale, inventory and operating efficiencies are expected to begin to be recognized in higher margins and operating profit, and management expects margins to trend back up to normalized levels in the second half of the year.
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Reports-Record-First-Quarter-Revenue?id=159207&b=y
Also see: SEC Q1 10Q filing
SUBSEQUENT EVENTS and MD&A..pg 10-13..The Company has evaluated events and transaction occurring subsequent to March 31, 2017 up to the date of this filing...Filing date on May 15, 2015
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12070427
Growgeneration Corp.
https://www.otcmarkets.com/stock/GRWG/profile
http://www.growgeneration.com/about.html
Employee Benefit Plan (s-8) $GRWG GrowGeneration, Corp...
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12168586
https://www.otcmarkets.com/stock/GRWG/profile
Outstanding Shares 14,511,406 a/o Jul 05, 2017
Agree..Some smart aggressive growth. GRWG
GROWGENERATION..#MJ
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12114241#F8K060617EX99I_GROWGEN_HTM
http://www.growgeneration.com/pdf/GRWG_profile.pdf
https://www.otcmarkets.com/stock/GRWG/profile
https://www.newcannabisventures.com/growgeneration-corp-stock-grwg-investor-dashboard/
I like this company, very low float, fantastic growing fundamentals. Great upside revenues. Picked some up for a long position.
Long term play. No one here is actually day trading this.
$GRWG Growgeneration Investors Presentation June 2017...
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12114241#F8K060617EX99I_GROWGEN_HTM
$GRWG 2.20 GrowGeneration, Corp. Investors Fact sheet
http://www.growgeneration.com/pdf/GRWG_profile.pdf
Q2 2017
San Bernardino,.....Check!
CA and Seattle, WA...Check!
small float, increasing revenue,solid business plan in a hot sector. What else do you need ?
$GRWG On March 6, 2017, GrowGeneration Corp. (the “Company”) entered into an agreement to purchase and sell assets (the “Purchase Agreement”) with Seattle’s Hydro Spot LLC (the “Seller”) and David G. Iacovelli to purchase from the Seller substantially all of the assets in connection with a retail hydroponic store known as “Seattle’s Hydro Spot” (the “Business”) located in Seattle, Washington. The closing of the asset purchase took place on May 16, 2017.
The assets subject to the sale under the Purchase Agreement included inventory, equipment, supplies, leasehold improvements, books and records, contact list, files and data, trade name, goodwill, intellectual property and other assets listed in an exhibit thereto. As consideration to the inventory and assets purchased under the Purchase Agreement, the Company agreed to pay a total of $140,000. The Company also agreed to pay the Seller an amount calculated based on certain gross revenue thresholds of the Business during the 12-month period following the closing of the purchase.
In connection with the purchase of the assets, the Company also entered into a commercial lease, to be effective from May 17, 2017 to April 30, 2022, to rent the premises where the Business is located.
http://ih.advfn.com/p.php?pid=nmona&article=74664707&symbol=GRWG
GrowGeneration Backs 2017 Rev $15M $GRWG Dow Jones
MAY 16, 2017
8:01 AM ET
GrowGeneration 1Q Same-Store Sales Up 18% $GRWG
May 16, 2017 08:00:00 (ET)
GrowGeneration Reports Record First Quarter Revenue
Q1 Revenue up 68% to $2.6 million; Same-store sales increase 18%
Management Continues to Expect $15 Million in Revenue for 2017
PR Newswire
DENVER, May 16, 2017
DENVER, May 16, 2017 /PRNewswire/ -- GrowGeneration Corp. (OTCQB: GRWG), ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis markets, with currently 12 locations, today reported financial results for its first quarter ended March 31, 2017.
First Quarter 2017 Financial Highlights:
-- Revenue of $2.6 million, up 68% compared to the first quarter of 2016
-- Same-store sales increased 18% compared to the first quarter of 2016
-- Net loss of $283,000, inclusive of $97,000 in non-cash depreciation and
stock-based compensation expense, compared to a net loss of $79,000 in
the first quarter of 2016
-- The Company had $1.3 million in cash as of March 31 and $2.9 million as
of May 16, 2017
Darren Lampert, Co-Founder and CEO, said, "This was a record quarter of sales for GrowGeneration, clearly demonstrating the demand for our products and the scalability of our business as we continue our expansion plans. The first quarter was the fifth consecutive quarter of sequential revenue growth, and our second quarter is off to a robust start with April setting a new monthly record and surpassing the $1.0 million monthly sales mark for the first time in the history of the Company."
"We are aggressively expanding our business in California, Nevada, Michigan, Massachusetts, Maine, and the state of Washington," added Mr. Lampert. "In addition to the recently opened California and Nevada markets, the Company plans to initiate sales in Washington, Michigan and New England in the second quarter. With the new markets, we have planned for 2017, along with continued same-store sales growth, revenue for 2017 is projected to be approximately $15 million."
First Quarter 2017 Financial Results:
Revenues for the quarter ended March 31, 2017 increased 68% to $2.6 million, compared to $1.5 million for the quarter ended March 31, 2016.
Same Store Sales:
For the period ended March 31, 2017, the Company had a total of six stores opened more than one year, generating net revenue of $1.5 million, compared to $1.3 million for the same six stores for the period ended March 31, 2016, an increase of approximately $220,000. The four stores opened less than one year generated $1.0 million for the quarter ended March 31, 2017. Sales from the recently opened Denver South and San Bernardino stores will start being reflected in the Company's financial results in the second quarter. In April, management consolidated the Pueblo South store into the other two Pueblo stores.
Cost of sales for the period ended March 31, 2017 increased $850,000 to $1.9 million as compared to $1.0 million for the period ended March 31, 2016. The increase was due to increased sales. Gross profit was $681,000 for the period ended March 31, 2017, resulting in a 26% gross margin, compared to $492,000, or a 32% gross margin, for the period ended March 31, 2016. The margin decrease was due to an increase in the number of commercial accounts, which are generally higher revenue, lower margin accounts. As the Company continues to scale, inventory and operating efficiencies are expected to begin to be recognized in higher margins and operating profit, and management expects margins to trend back up to normalized levels in the second half of the year.
Operating expenses for the period ended March 31, 2017 increased $393,000 to $963,000, as compared to $570,000 for the period ended March 31, 2016. The increase was mainly due to increased payroll expense and rent expense associated with the opening of new stores, as well as professional fees, travel expense and other non-cash expenses.
For the period ended March 31, 2017, the Company reported a net loss of $283,309, or ($0.02) per basic and diluted share, compared with a net loss of $78,844, or ($0.01) per basic and diluted share, in the period ended March 31, 2016. The increase was mainly due to increases in payroll, that included the hiring of a new Chief Operating Officer, $100,000 in one-time expenses related to the expenses related to a recent capital raise, the closing of the Santa Rosa store, and the acquisition of assets from Sonoma Hydro.
Balance Sheet Summary
As of March 31, 2017, the Company had $1.3 million in cash and $5.4 million in total current assets compared with $607,000 and $3.6 million, respectively, as of December 31, 2016. Current liabilities were $1.2 million at March 31, 2017, compared to $843,000 at December 31, 2016. The Company ended the March 31, 2017 period with a working capital surplus of $4.2 million compared to $2.8 million for the period ended December 31, 2016. The Company raised $2.15 million in equity capital during the period ended March 31, 2017 through the issuance of common stock and the exercise of warrants and has raised $5.5 million since inception. The Company has $2.9 million in cash as of May 16, 2017.
Adjusted EBITDA for the quarter ended March 31, 2017 totaled $(184,635) compared to adjusted EBITDA of $17,944 for the quarter ended March 31, 2016 (see definition and further discussion about the presentation of a EBITDA, a non-GAAP term, below).
Use of Non-GAAP Financial Information
The Company believes that the presentation of results excluding certain items in "Adjusted EBITDA," such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with generally accepted accounting principles.
Set forth below is a reconciliation of Adjusted EBITDA to net income (loss):
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/growgeneration-reports-record-first-quarter-revenue-300458059.html
SOURCE GrowGeneration Corp.
/Web site: http://www.growgeneration.com
(END) Dow Jones Newswires
May 16, 2017 08:00 ET (12:00 GMT)
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
May 16, 2017 08:01 ET (12:01 GMT)
GrowGeneration Reports Record First Quarter Revenue
Q1 Revenue up 68% to $2.6 million; Same-store sales increase 18%
Management Continues to Expect $15 Million in Revenue for 2017
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Reports-Record-First-Quarter-Revenue?id=159207&b=y
I've read what you have posted on the opmz board which was totally speculative on your part, and no truth to it...
Your Post..
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131030658
The truth with documentaion..
The property Growgeneration is leasing is and existing property not one to be constructed..
Here's a copy of GRWG lease agreement
453 S I St. Unit A
San Bernardino, CA 92410
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12015854#F8K042617EX99II_GROWGEN_HTM
see Exhibit 99.2 in this 8k filed Apr 26, 2017 buy Growgeneration GRWG
https://www.otcmarkets.com/stock/GRWG/filings
453 S I St.
San Bernardino, CA 92410
http://www.loopnet.com/Listing/19096640/453-S-I-St-San-Bernardino-CA/
Lease term begins May 1, 2017 Another Grand Opening coming #13
Looks like Joseph Wade is involved with this one via OPMZ. Be careful.
Love this company. Extremely low float. Strong management. Proven revenues and concept and strong current growth and growth plans
Debating on jumping in ... don't know enough about this company though.... seems like a very smart concept, esp with so many new states legalizing.... they need to think about New England 2018 .... Connecticut Rhode Island will follow Massachusetts in the next year or two
GRWG..GrowGeneration opening Store #13 San Bernardino, Calif.
Growgerenation Opens 8,000 Square Foot Southern California Retail Distribution Center
Broadens Presence in Southern California and Continues California Expansion Initiatives
PR Newswire
DENVER, April 26, 2017
DENVER, April 26, 2017 /PRNewswire/ -- GrowGeneration Corp. (OTCQB: GRWG), GrowGeneration ("GrowGen" or the "Company"), one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, with currently 10 locations in Colorado, one location in California and one location in Las Vegas, today announced that it has signed a three-year lease, with 2 three-year renewals, on an 8,000-square foot facility in San Bernardino, Calif. This is the 13th location for GrowGeneration, and the second in California.
The San Bernardino location, located directly off the major 215 Los Angeles- Las Vegas freeway in what is known as the Inland Empire, will serve as a retail and warehouse location servicing the growing number of both commercial and home growers in the Southern California market.
GrowGeneration Focused on Aggressive California Expansion
California continues to present significant growth opportunities for GrowGen, particularly after passing an adult use law in November 2016. According to New Frontier Data, the California market is projected to grow at a compounded annual rate of 18.5%, from $2.76 billion in 2015 to $6.5 billion by 2020. The Southern California market is particularly important due to the high concentration of cannabis cultivators in the region.
Darren Lampert, Co-Founder and Chief Executive Officer, commented, "Opening the GrowGeneration Southern California operation enables us to begin servicing both the home and commercial cultivators in Southern California. By increasing our warehouse and retail showroom space, we will be able to stock at inventory levels and sizes to attract the large commercial growers. With the cultivation licenses being issued this year in Southern California, GrowGen is now strategically well positioned to gain new business. California is a major marketplace that the Company is developing, and plans to add several locations in the coming months."
About GrowGeneration Corp.:
GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 13 stores, which includes 10 locations in Colorado, two location in California and one location in Nevada. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all of the major legalized cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. According to New Frontier Data, the U.S. cannabis market was $5.7 billion in 2015 and is expected to have reached $7.2 billion at the end of 2016. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Opens-8-000-Square-Foot-Southern-California-Retail-Distribution-Center?id=157059&b=y
Also known as GrowGen
12.5m OS
https://www.otcmarkets.com/stock/GRWG/profile
GrowGeneration Achieves Record 2016 Sales, Up 130%
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Achieves-Record-2016-Sales--Up-130-?id=154935&b=y
GRWG this stock remains low key and undiscovered. Love the potential here.
DENVER, CO / ACCESSWIRE / April 5, 2017 / GrowGeneration Corp. $GRWG ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis growers, with currently 10 locations in Colorado, one location in California and one in Nevada, announced today, that as a follow up to its recently announced financing from Merida Capital Partners, a cannabis infrastructure fund, it has entered into a strategic partnership with Merida to pursue opportunities across the infrastructure and ancillary cannabis industry.
As part of the agreement:
GrowGeneration will compensate Merida to provide advisory oversight and capital structuring for GrowGen's rapidly expanding footprint in both the cannabis equipment and cultivation technology verticals.
Merida will also be assisting in the launch of "GrowGeneration Home," an initiative to target the home grower with an array of indoor growing products for growing plants for clean food, clean air and clean medicine, serving the organic food grower and home cannabis grower verticals simultaneously.
Further, the companies announced that Merida will also receive a Board seat, which will allow Merida a greater role in capital structuring and strategic oversight as they work closer with GrowGen to manage their pipeline of growth opportunities.
Darren Lampert, Co-Founder and CEO, said, "Merida's connectivity to the cannabis space is vast, with relationships with the large cultivation facilities, strategic and complementary companies and investments in other strategic companies like New Frontier Data. Our company could not be more proud and excited to bring one of Merida's principals on as a board member. Merida's professionals have been successfully deploying capital in cannabis for nearly six years and their contribution to GrowGeneration, and our new GrowGeneration Home division will be invaluable as we continue to execute our expansion and growth plan."
Merida's Managing Partner, Mitch Baruchowitz, added, "We are excited to continue our work with GrowGeneration and collaborate with their team to use Merida's resources to create additional value for the rapidly expanding GrowGen portfolio. We have had a front seat to the incredible growth of GrowGen over the last three years, and are excited to assist their pursuit of strategic opportunities. Our addition to their Board will bring a wealth of governance and strategic oversight to an already well-functioning executive team. With their forward looking revenue guidance of $15MM, we look forward to supporting GrowGeneration's existing operations and movement into new verticals."
https://www.dailymarijuanaobserver.com/single-post/2017/04/05/-GRWG-GrowGeneration-and-Merida-Capital-Partners-Expand-Strategic-Partnership
$GRWG Full-year revenues up 130% to $8.0 million
Fourth quarter revenues up 130% to $2.4 million
Full-year same-store sales increase 50% or $1.4 million
Full-year net loss decreased to $431,246, inclusive of $304,123 in non-cash depreciation and stock-based compensation costs
The Company has $1.2 million in cash as of March 31, 2017...
...“We are aggressively expanding our business, with the recent recreational legalization in California, Nevada, Massachusetts and Maine, and medical legalization in Florida,” added Mr. Lampert. “Due to increasing demand, we are seeking to open larger stores, generating higher revenue and profitability. GrowGeneration is now at an annualized revenue run rate of over $10 million and we believe that we are well-positioned to continue to execute our expansion strategy to offer a one-stop and personalized shopping solutions for both the commercial and home growers. The store additions we have planned for 2017, along with continued same-store sales growth, are expected to increase our annualized revenue by nearly 100% to approximately $15 million.”
...more
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Achieves-Record-2016-Sales--Up-130-?id=154935&b=y
2016 10k
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11968223#F10K2016_GROWGENERATION_HTM_A_011
DENVER, CO--( March 14, 2017) - GrowGeneration Corp. (OTCQB: GRWG ), GrowGeneration (“GrowGen” or the “Company”), one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, with currently 10 locations in Colorado, 1 location in California and 1 location in Las Vegas, NV., today announced that it has secured $1,650,000 in equity financing from Merida Capital Partners, a cannabis infrastructure fund, to continue fueling its expansion plans primarily in California and the West Coast. The transaction was priced at $2.00 with a warrant to purchase common shares at $2.75. The transaction, when factoring in warrant exercises, will total $3.92M in capital into the Company. The warrant is callable when GrowGen trades at $4.12 or higher.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11931343
Share Structure
Market Value1 $26,881,409 a/o Apr 03, 2017
Authorized Shares 100,000,000 a/o Mar 30, 2017
Outstanding Shares 12,561,406 a/o Mar 30, 2017
Float 5,703,548 a/o Oct 14, 2016
https://www.otcmarkets.com/stock/GRWG/profile
From SA
https://seekingalpha.com/instablog/9857091-michael-hooper/4961591-hydroponics-retailer-expands-legal-cannabis-states
GrowGeneration Corp. (“GrowGen”)
http://www.growgeneration.com
GRWG anyone here? This stock is awesomeness me just took a started position today
Management are doing phenomenal things. Received funding today, fantastic share structure. Bought 3 grand worth of shares today holding long. Next retail store opening April first, ZERO DEBT! They already have a positive balance sheet! Insane!
CEO is going to crush this price!!
Great company, just going to crush it..
GRWG Income Statement
Nice charts GRWG 2.70 way undervalued here. Check pinksheets.com
Great news just out! Did some DD no debt here with substantial cash around $500k. This news could take it to beyond recent highs $3.43
DENVER, CO, Nov. 28, 2016
DENVER, CO, Nov. 28, 2016 /PRNewswire/ - GrowGeneration Corp. (OTCQB:GRWG), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, announced today that the Depository Trust Company (DTC) has approved the Company's eligibility application for GrowGeneration Corp. (CUSIP 39986L 109), effective November 24, 2016.
Wow! These guys are movers and shakers. No doubt in my mind it's going to be a good one!
$GRWG GrowGeneration Opens 10,000 Sq. Ft. Nevada Retail Distribution Center, Continues its West Region Expansion Plan
PR Newswire
DENVER, Nov. 21, 2016
DENVER, Nov. 21, 2016 /PRNewswire/ - GrowGeneration Corp. (OTCQB:GRWG), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, with currently 10 locations in Colorado and 1 location in California, today announced that it has signed a 5-year lease on a 10,000 square foot facility in Las Vegas, Nevada for its 12th store. The Las Vegas location will serve as retail and warehouse location, and will service the growing number of both commercial and home growers in the Nevada market.
GrowGeneration Continues Aggressive Geographic Expansion
Nevada presents significant growth opportunities for GrowGen in the legal cannabis market. The potential is attributed to the state's rank as a top tourism destination, generous patient reciprocity laws, and the allowance for medical cannabis businesses to be formed as for-profit enterprises. Recreational use sales are expected to begin in 2017, and grow quickly. According to New Frontier, the combined medical and recreational use sales in Nevada are expected to reach nearly $622 million by 2020. A major key to the industry's growth will be the demand from the state's strong tourism market, with an estimated 55 million visitors in 2016 alone.
GrowGen CEO Comments
Commenting on GrowGen's expansion into Nevada, Darren Lampert, Co-Founder and CEO, said, "The passage of Nevada's recreational use legalization measure opens up the market for cultivation expansion like we have not seen before in the US. With this additional 10,000 sq. ft. of retail and warehouse space, conveniently located minutes from the Las Vegas strip, we believe we are to be the largest hydroponic store in the Nevada market. To best serve Nevada growers, we'll stock both commercial and home-grow sizes of all the equipment and growing supplies offered throughout the market today."
"Executing and opening our GrowGen Nevada retail and warehouse operation furthers our business plan to aggressively expand our business. With the recent recreational legalization in Nevada, California, Massachusetts and Maine, and medical legalization in Florida, we consider those states as our key expansion markets. GrowGen is now operating at an annualized revenue run rate of over $9.0 million. We believe we're well positioned to continue to execute our expansion growth strategy, in order to offer a one-stop, personalized shopping solution for both the commercial and home grower alike."
About GrowGeneration Corp.:
GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 12 locations, which includes 10 locations in Colorado, 1 location in California and 1 location in Nevada. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all of the major legalized cannabis states. Management estimates that roughly 1000 hydroponic stores are in operation in the U.S. According to ArcView Market Research, the U.S. cannabis market was $5.7 billion in 2015 and is expected to reach $7.2 billion at the end of 2016. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.
Forward Looking Statements:
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com.
Connect:
Website: www.GrowGeneration.com
Facebook:GrowGenerationCorp
Twitter: @GrowGenOK
Instagram: Growgeneration_corp
SOURCE GrowGeneration
Copyright © 2016 PR Newswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Mod - Change board category to Cannabis? Once the number of messages across ten days rises above the company in the 50 spot on the Cannabis Stock Board, it will receive more attention.
http://investorshub.advfn.com/cannabis-stocks
I suppose this is normal for a company that just began trading last month.
no volume...
Quit and holding, looking strong.
HOME DEPOT OF WEED !!!!
HOME HARDWARE OF WEED !!!!
First shake done? Looks like its moving up again.
who the hell is selling? lets burn these shorts this is so undervalued, no toxic debt
As they expand more stores in more states these revenue figures are going to go through the roof. To top it off last quarter they were profitable, have no debt and a killer share structure. If this was a Nasdaq IPO it probably would have touched $25 today as they are as legit as a MJ stock gets. Back door through a RM is brilliant and cheaper.
They may see TTM sales of $10 million after this quarter. A year from now as they expand locations and states it could be doing $50+ million in revenues. At only 5x sales that's a $25 pps.
Long way to go here..
great play starting here
Profitable Quarter, impressive growth !!!!
Wow, with that growth rate and expanding business at like 5x forward sales you are looking at like a $15 near term pps. Wonder if some big retail chain will swoop in and try to buy them out? Fantastic news here.
GrowGeneration Achieves Record Third Quarter And Nine Month Financial Results; Third Quarter Revenues Jump 135%
DENVER, CO, Nov. 14, 2016 /PRNewswire/ - GrowGeneration Corp. (OTCQB:GRWG), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis growers, with currently 10 locations in Colorado and 1 location in California, today reported record financial results for its third quarter and nine months ended September 30, 2016.
Record Third Quarter Revenues Supported by Aggressive Geographic Expansion Strategy and Launch of GGEN Distribution Corp.
Revenues for the three months ended September 30, 2016 jumped to $2,169,129, a 135% increase over revenues of $921,913 in the same quarter of 2015.Revenue for the nine months ended September 30, 2016 was $5,617,726, a 140% increase over revenues of $2,330,773 for the same period last year. The revenue growth was primarily attributable to the Company's continued sales growth across Colorado and Northern California, as well as modest, but early sales from the launch of GGEN Distribution Corp., a wholly-owned subsidiary of GrowGen, whose sole mission is to secure exclusive and proprietary products on behalf of GrowGen.
Same Store Sales Growth
For the nine months ended September 30, 2015, the Company added 2 additional stores to its existing 4 stores, for a total of 6 stores, which generated net revenue of $2,330,773, as compared to net revenue of $4,151,282 in the same period in 2016 for the Company's same 6 stores, an increase of 78%. In the nine months ended September 30, 2016, the Company opened 4 new stores that generated net revenue of $1,466,444.
For the three months ended September 30, 2015, the Company had a total of 6 stores that generated net revenue of $921,913, as compared to net revenue of $1,386,318 for the Company's 6 existing stores in the same period in 2016, an increase of 50%. In the three months ended September 30, 2016, the Company's 4 new stores generated net revenue of $782,811.
GrowGeneration Achieves Record Third Quarter 2016 Net Income
In the third quarter of 2016, the Company achieved record net income of $10,844, or $0.001 per share, compared with a net loss of ($145,411), or ($0.00) per share, in the same quarter of 2015. For the quarter ended September 30, 2016, cost of goods sold increased to $1,560,359 from $576,406 for the same period of 2015 due to substantially higher revenues. Gross profit for the quarter ended September 30, 2016 rose to $608,770, compared with $345,507 for the same quarter in 2015. The substantial increase in gross profits was primarily due to the Company's continued penetration of the Colorado and California markets.
Selling, general, and administrative expenses for the quarter ended September 30, 2016 increased to $597,926 compared with $490,918 in the quarter ended September 30, 2015. The increase in expenses was primarily due to the hiring of new staff and costs associated with the opening of new stores to help support the Company's rapid growth.
Strengthening of Balance Sheet
As of the end of the quarter ended September 30, 2016, the Company reported $511,474 in cash and total current assets of $4,030,030, compared with $699,417 and $2,610,062, respectively, at the beginning of the current fiscal year. Current liabilities increased from $646,788 in the second quarter to $870,506 at the end of the third quarter of 2016. The Company ended the third quarter with a working capital surplus of $3,218,594. The Company raised $1,323,500 in equity capital in 2016, and has raised $3,829,000 since inception.
Public Company Approval
Effective as of October 19, 2016, GrowGen has been approved to trade its common stock on the OTCQB Marketplace under the ticker symbol of "GRWG". On July 15, 2016, the company's Registration Statement on Form S-1 was declared "effective" by the Securities and Exchange Commission.
GrowGen CEO Comments
Commenting on GrowGen's record financial results, Darren Lampert, Co-Founder and CEO, said, "Our record third quarter results demonstrate the scalability of our business plan. This is our third consecutive quarter of revenue growth and our first quarter of profitability and we are pleased to see this trend line accelerating as our business scales with the execution of our expansion plan. The legal marijuana market is a booming industry that is experiencing record growth. States continue to expand both medical and recreational use in the U.S.. According to ArcView Market Research, the U.S. cannabis market was $5.7 billion in 2015 and is expected to reach $7.2 billion at the end of 2016. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%. We see our growth " lock step" with the growth of the cannabis market, as the cultivators demand for equipment and supplies increases with the demand for legalized cannabis products. Our business plan is to continue to offer our "knowledge–based" sales and a personalized approach and to continue to attract and retain the commercial growers, who require the products GrowGen sell, to grow cannabis at a premium quality and high yield of production, each and every harvest."
"We are aggressively expanding our business, with the recent recreational legalization in California, Nevada, Massachusetts and Maine, and medical legalization in Florida, as key expansion markets. GrowGen is now at an annualized revenue run rate of over $9.0 million and we believe that we are well positioned to continue to execute our expansion growth strategy to offer a one-stop and personalized shopping solution for both the commercial and home growers."
About GrowGeneration Corp.:
GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 11 locations, which include 10 locations in Colorado and 1 location in California. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all of the major legalized cannabis states. Management estimates that roughly 1000 hydroponic stores are in operation in the U.S. According to ArcView Market Research, the U.S. cannabis market was $5.7 billion in 2015 and is expected to reach $7.2 billion at the end of 2016. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.
Forward Looking Statements:
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com.
Connect:
Website: www.GrowGeneration.com
Facebook:GrowGenerationCorp
Twitter: @GrowGenOK
Instagram: Growgeneration_corp
SOURCE GrowGeneration
Yeah, that was an over the top impressive first day of active trading. 11 locations and growing, revenues at $1.9 million as of June and up close to 135% YOY, like $3.5 million in assets and only $699k in liabilities, no derivatives or toxic debt, and definitely no going concern clause. I can see why it exploded and definitely think we have a winner here.
Indeed, where did that come from...?? Was not expecting that, especially at the end of Friday trading....on a holiday no less.
I've had a bid in for awhile now, just in case they let a few go cheap at first, never got filled though. Instead the ask just started getting slapped hard right off the bat. Seems like a pretty well orchestrated first day of trading. I like the company quite a bit, it's not your typical MJ type play, this one actually has real substance.
Looks like the cats out of the bag. Very awesome looking company here.
Watching this new ticker, no volume as of yet. Colorado based business, essentially supports a lot of marijuana growers in that state and will be expanding into other states that legalize cannabis/marijuana.
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