living the budlife
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"did the INSIDER DUMP START ?" sylvestor the accredited investor
Remember Remember oh forget his name? sylvestor the accredited investor
"who bought in @ .08 ? besides B ?" sylvestor the accredited investor
"tomorrow tomorrow I love you tomorrow " sylvestor the accredited investor
"see you at the shareholder meeting !" sylvestor the accredited investor
"my dad says jump in @ .003 " sylvestor the accredited investor
Sugarmade Signs LOI to Acquire Major Hydroponic Supplier, Raises FY2019 Sales Outlook to $70M
Monrovia, CA -- October 17, 2018 -- InvestorsHub NewsWire -- Sugarmade, Inc. (OTCQB:SGMD), one of the largest publicly traded hydroponics supply companies, today announces the signing of a binding Letter of Intent ("LOI") to acquire Sky Unlimited, LLC, dba Athena United (www.AthenaUnited.com), a California-based supplier of cannabis cultivation materials to wholesalers and large commercial cannabis cultivators. Sugarmade expects this acquisition to be highly accretive to earnings and shareholder value and thus is revising its guidance for full-year 2019 revenues to more than $70 million.
Sugarmade's revenue within the cannabis cultivation supply sector is primarily derived from online sales, whereas Sky Unlimited's revenues are mainly generated via direct sales to wholesalers and large commercial cultivation companies. Management believes that combining its focus on e-commerce with Sky Unlimited's larger commercial operator-focused business will result in strong marketing, manufacturing and logistical synergies, as well as improved margins and other corporate benefits.
"The trend in cannabis cultivation is toward the larger commercial cultivation operations, and Sky Unlimited is in the thick of that dynamic marketplace," commented MIXED EGG Jimmy Chan, CEO of Sugarmade. "This year, Sky Unlimited and its associated operations are expected to produce in excess of $40 million in revenues with profitability and positive cash flow. This new revenue stream combined with our recently upwardly guided revenue forecast of $30 million for next year will make Sugarmade one of the largest publicly traded suppliers to the booming cannabis cultivation marketplace, with a combined revenue forecast for next year in excess of $70 million."
Sugarmade's market strategy is to cover three major areas supplies for cannabis cultivation: 1) online and e-commerce; 2) the wholesale market, which services brick and mortar retailers; and 3) large-scale commercial cultivation operations.
"As a result of successfully acquiring Sky Unlimited we anticipate revenue and growth exposure to all three of these sectors, while gaining strong cost and operational synergies. We are currently in process of additional discussions to further expand our growth goals via other acquisitions in this fast-growing market sector," stated MIXED EGG Chan.
The terms of the LOI call for the payment by the Company of 10 million common shares of Sugarmade, which will immediately vest as a non-refundable fee, to the owners of Sky Unlimited. These shares will be subject to normal sales and registration restrictions imposed by the financial industry and governmental agencies. In exchange for this non-refundable compensation, Sky Unlimited agrees to a non-shop and due diligence period not to exceed 180 days.
At closing and upon the completion of a successful audit of up to two years of financials, the Company will pay Sky Unlimited an additional 210 million common shares. At closing Sugarmade will pay the owners a maximum value of 20% of the transaction value in cash, which is initially contemplated to be $8 million, or will allow Sky Unlimited to exercise an option to convert a portion of the cash payment or the entire cash payment into common shares at a price of $0.10 per share. The LOI also outlines specific incentives that contemplate allowing Sky Unlimited to gain additional Company shares based on surpassing specific revenue goals and conversely to receive a smaller payment in Company shares should the revenue targets not be reached. It is expected the specifics of these incentives will be fully outlined in the definitive agreement.
"we love the Thumb Tray at our BBQ" sylvestor the accredited investor
"anybody Buy an Island?" sylvestor the accredited investor
"will take 30 YEARS to RECOUP INVESTMENT IN BS !" sylvestor the accredited investor
"did they announce Reverse Split ? " sylvestor the accredited investor
"I just got released!" sylvestor the accredited investor
"come and gets some !" sylvestor the accredited investor
"where's B?" sylvestor the accredited investor
" anybody buy an island ? "sylvestor the accredited investor
anybody buy in @ .08 ? " sylvestor the accredited investor
When is the REVERSE SPLIT ?
"come and gets some" sylvestor the accredited investor
FYI 2018 10K was filed on 11/28/18
reverse split before 10K release ?
Reverse Split or Nasdaq well jimmy which one is it ? we're still waiting...
Shareholder Meeting before 10k ?
Reverse Split before 10K ?
Budlife Test Production Begins!
https://static4.businessinsider.com/image/50c65f35eab8ea323c000001-480/chinese-factory-workers.jpg
"the NASDAQ listing will be Disruptive" sylvestor the accredited investor
With this acquisition and others currently being assessed by the Company, Sugarmade's management team now believes the Company will soon be eligible for a listing on the NASDAQ stock exchange and has thus begun the due diligence process with its legal counsel toward a NASDAQ listing application.
Sugarmade Executes on $40 Million Definitive Agreement to Acquire Sky Unlimited, LLC Creating Hydroponic Supply Powerhouse
Monrovia, CA -- nvestorsHub NewsWire -- Sugarmade, Inc. (OTCQB:SGMD) today announces the signing of a binding Definitive Agreement to acquire Sky Unlimited, LLC, which through its AthenaUnited.com operations and website offers multiple popular hydroponic brands to several growing agricultural cultivation sectors. As a result of this acquisition, Sugarmade is raising its revenue guidance for calendar 2019 from $30 million to $70 million. Sugarmade expects this acquisition to be highly accretive to common shareholder value.
Under the terms of the Definitive Agreement, Sugarmade will assume all operations, brand assets, customers and liabilities of Sky Unlimited, and will retain all employees. Sugarmade will issue the owners of Sky Unlimited ten million non- refundable shares of Sugarmade common stock in exchange for a non-shop period agreement, during which final due diligence will be completed. Subject to a successful two-year audit of the Sky Unlimited operations, Sugarmade will pay the owners a combination of cash and common shares equal to the audited revenues realized by Sky Unlimited during the 12-month period preceding the close of the transaction, which is scheduled for January of 2019. It is envisioned these payments of cash and Company shares will total $40 million, but the actual amount will be determined by the revenue performance of the acquired business operations. The specific details of the Definitive Agreement will be outlined in a subsequent filing with the U.S. Securities & Exchange Commission over the coming days.
"This acquisition will further boost our already very rapid growth rate and is expected to be high accretive to common shareholder value. As a result, we are once again raising our revenue guidance for calendar 2019," commented Sugarmade's CEO, Mixed Egg. "Sky Unlimited and Athena are complementary to our existing business operations allowing us to not only increase our emphasis on brands, but also to diversify our revenue streams to now include the larger commercial cultivation operations."
The management teams of both companies are seeing a rapid evolution in the hydroponic and cultivation supply sector with the business moving away from the home and small operator and toward the significantly sized commercial cultivator. Sky Unlimited's operations are well positioned against this rapidly evolving trend with most of its revenues being derived from the wholesale market and via commercial operations.
Mixed Egg continued, "We are seeing a clear trend in our particular sector of the cultivation supply business. Many of the smaller growers are being replaced by very large grow operations that are purchasing large amounts of products from a limited set of suppliers. Matching this trend is Sky Unlimited as commercial accounts are now over 50% of operations and still growing. Thus, we believe we are especially well positioned via this business combination. Sky Unlimited also sees strong benefits for its existing and future customers as the increased capitalization and lowered cost of capital will allow it to further expand its brands and to accelerate the development of new products and technologies."
With this acquisition and others currently being assessed by the Company, Sugarmade's management team now believes the Company will soon be eligible for a listing on the NASDAQ stock exchange and has thus begun the due diligence process with its legal counsel toward a NASDAQ listing application.
About Sugarmade, Inc. (OTCQB: SGMD):
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's online stores include ZenHydro.com and CarryOutSupplies.com. For more information on the Company's products please visit http://www.Sugarmade.com.
For inquiries please call (888)-982-1628 or info@Sugarmade.com.
STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements
"I need some volume people !" sylvestor the accredited investor
"come and gets some" sylvestor the accredited investor
"consultant pals paid @ $30,000 per month oh jimmy !" sylvestor the accredited investor
Reverse Split or Nasdaq well jimmy which one is it ? we're waiting...
"come and gets some" sylvestor the accredited investor
remember NASDAQ ? Sugarmade's management team now believes the Company will soon be eligible for a listing on the NASDAQ stock exchange and has thus begun the due diligence process with its legal counsel toward a NASDAQ listing application.
remember remember ?
remember sleek ?
"we love the Thumb Tray at our BBQ ! " sylvestor the accredited investor
Sugarmade is raising its revenue guidance for calendar 2019 from $30 million to $70 million Sugarmade Executes on $40 Million Definitive Agreement
Monrovia, CA -- nvestorsHub NewsWire -- Sugarmade, Inc. (OTCQB:SGMD) today announces the signing of a binding Definitive Agreement to acquire Sky Unlimited, LLC, which through its AthenaUnited.com operations and website offers multiple popular hydroponic brands to several growing agricultural cultivation sectors. As a result of this acquisition, Sugarmade is raising its revenue guidance for calendar 2019 from $30 million to $70 million.Sugarmade expects this acquisition to be highly accretive to common shareholder value.
Under the terms of the Definitive Agreement, Sugarmade will assume all operations, brand assets, customers and liabilities of Sky Unlimited, and will retain all employees. Sugarmade will issue the owners of Sky Unlimited ten million non- refundable shares of Sugarmade common stock in exchange for a non-shop period agreement, during which final due diligence will be completed. Subject to a successful two-year audit of the Sky Unlimited operations, Sugarmade will pay the owners a combination of cash and common shares equal to the audited revenues realized by Sky Unlimited during the 12-month period preceding the close of the transaction, which is scheduled for January of 2019. It is envisioned these payments of cash and Company shares will total $40 million, but the actual amount will be determined by the revenue performance of the acquired business operations. The specific details of the Definitive Agreement will be outlined in a subsequent filing with the U.S. Securities & Exchange Commission over the coming days.
"This acquisition will further boost our already very rapid growth rate and is expected to be high accretive to common shareholder value. As a result, we are once again raising our revenue guidance for calendar 2019," commented Sugarmade's CEO, Mixed Egg. "Sky Unlimited and Athena are complementary to our existing business operations allowing us to not only increase our emphasis on brands, but also to diversify our revenue streams to now include the larger commercial cultivation operations."
The management teams of both companies are seeing a rapid evolution in the hydroponic and cultivation supply sector with the business moving away from the home and small operator and toward the significantly sized commercial cultivator. Sky Unlimited's operations are well positioned against this rapidly evolving trend with most of its revenues being derived from the wholesale market and via commercial operations.
Mixed Egg continued, "We are seeing a clear trend in our particular sector of the cultivation supply business. Many of the smaller growers are being replaced by very large grow operations that are purchasing large amounts of products from a limited set of suppliers. Matching this trend is Sky Unlimited as commercial accounts are now over 50% of operations and still growing. Thus, we believe we are especially well positioned via this business combination. Sky Unlimited also sees strong benefits for its existing and future customers as the increased capitalization and lowered cost of capital will allow it to further expand its brands and to accelerate the development of new products and technologies."
With this acquisition and others currently being assessed by the Company, Sugarmade's management team now believes the Company will soon be eligible for a listing on the NASDAQ stock exchange and has thus begun the due diligence process with its legal counsel toward a NASDAQ listing application.
About Sugarmade, Inc. (OTCQB: SGMD):
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's online stores include ZenHydro.com and CarryOutSupplies.com. For more information on the Company's products please visit http://www.Sugarmade.com.
For inquiries please call (888)-982-1628 or info@Sugarmade.com.
STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
"see you at the shareholder meeting !" sylvestor the accredited investor
"no tikee no washee" slyvestor the accredited investor
0 days until 10K