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Email: info@sugarmade.com Phone: (626) 346-9512
OTC MARKETS - QUICK LINKS
QUOTE
NEWS
DISCLOSURE
SECURITY DETAILS
SEC (EDGAR) - (OTCQB:SQMD) FILINGS
SEC FILINGS
On January 23, 2019 Sugarmade, Inc. (the “Company”) announced the signing of a Letter of Intent (the “LOI”) to acquire a retail location of Washington State-based Hydro4Less. The LOI outlines the general terms of a possible acquisition transaction. Pending the signing of a definitive agreement, Sugarmade will issue Five Million Dollars ($5,000,000) of its common shares at a price pegged at Ten Cents ($0.10) to the owners of Hydro4Less in exchange for the single retail operation, not including inventories on hand.
Additionally, via the pending transaction, Sugarmade will gain an option, at an acquisition price to be determined later, to purchase two additional Hydro4Less retail operations, which are currently producing in excess of Twenty Million Dollars ($20,000,000) annually. The single location acquisition that is the subject of the LOI, is expected to produce approximately Five Million Dollars ($5,000,000) for calendar year 2019 and is currently operating at a profit with positive operating cash flow. The Company believes the single location the acquisition would be accretive to earning for Sugarmade. Should all three acquisitions close, Sugarmade will increase its annual revenues by approximately Twenty Five Million Dollars ($25,000,000) million per year.
Hydro4Less is significant supplier to the growing hydroponic cultivation sector. Neither the Company nor Hydro4Less conduct any business involving the sale of any cannabis product or relating to any products containing cannabis.
BUDLIFE CANNABIS STORAGE
World's First And Only Patented Storage For Preserving Cannabis Flowers. Maximizing the Power of Medical Cannabis.
SUMMARY - Sugarmade, Inc. (OTCQB:SGMD) plans a leadership role in the market for cannabis storage via introduction of patented storage containers that utilize modified intelligent atmosphere packaging to extend the life of cannabis, preserve terpenes and THC/CBC levels, prevent spoilage, and reduce dangerous pathogens.
| | Authorized Shares | 1,990,000,000 | 12/31/2018 |
| | Outstanding Shares | 646,888,318 | 12/31/2018 |
| | -Restricted | 454,296,711 | 12/31/2018 |
| | -Unrestricted | 192,591,607 | 12/31/2018 |
| | Held at DTC | 184,493,775 | 12/31/2018 |
| | Float | 190,091,607 | 12/27/2018 |
