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Tier 2 Now ! Wowee
Congrats to Harvest One investors, significant growth and cash is intact, magnificent
Harvest One Announces Q2 2019 Financial Results Including a 123% Revenue Increase Over Q1 and Gross Margin of 53% on Cannabis Sales
February, 28, 2019
Harvest One Cannabis Inc. ("Harvest One" or the "Company") (TSX-V: HVT; OTCQX: HRVOF) today announced the release of its financial and operating results for the three and six months ended December 31, 2018.
Highlights:
•Q2 2019 net revenue for the Company was $3.7 million, a sequential increase of 123% over Q1 2019 ($1.7 million). This increase was primarily attributed to initial recreational load-ins under our supply agreements with British Columbia, Ontario, Manitoba and Saskatchewan.
•Q2 2019 gross margin before fair value adjustments of 47%. Included in this, is a gross margin of 53% for United Greeneries which is in line with larger Canadian Licensed Producers.
•As of December 31, 2018, the Company maintains a very robust balance sheet with a cash balance of $41.0 million. This cash position means all current expansion plans are fully funded and allows for accretive transactions that support the Company’s brand and product development strategy.
•Through its extraction agreement with Valens GroWorks Corp. (“Valens”), the Company has initiated its product development strategy to produce oil based derivative products.
•Satipharm launched sales of its reformulated proprietary capsules online in the United Kingdom and in the European Union where local regulations allow. Brick and mortar distribution will be available shortly with Canadian distribution to follow.
•Expansion plans at the Duncan and Lucky Lake facilities are on track as the Company targets an annual run rate of 20,000 kg premium indoor grown flower by the end of calendar 2019.
•The Company upgraded to the OTCQX under the ticker “HRVOF” increasing its exposure to the US investment community and improving its liquidity for investors both in Canada and the US.
“We are delighted to announce our second successive quarter of record growth for Harvest One with an increase of 123% in revenue over the previous quarter” says Grant Froese, CEO of Harvest One. “These results reflect a successful roll out of our recreational strategy as we continue to deliver on our agreements with all our provincial and private partners. As we focus on operational excellence and execute on our strategy across all our divisions, we will continue to drive revenue growth for Harvest One throughout 2019”.
Harvest One’s 2019 second quarter MD&A and consolidated financial statements for the quarter ended December 31, 2018, along with all previous Harvest One public filings, may be found on SEDAR at www.SEDAR.com.
About Harvest One Cannabis Inc. (TSX-V: HVT; OTCQX: HRVOF)
Harvest One is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world. The Company's range of lifestyle solutions is designed to enhance quality of life. Shareholders have significant exposure to the entire cannabis value chain through its wholly-owned subsidiaries; United Greeneries, a Licensed Producer; Satipharm (medical and nutraceutical); and Dream Water Global (consumer); and a minority interest in Burb Cannabis (retail operations). For more information, please visit www.harvestone.com.
For more information, please contact:
Investor Relations:
Colin Clancy
+ 1 (877) 915-7934
cclancy@harvestone.com
This press release contains “forward-looking statements,” which may be identified by the use of words such as, “may,” “would,” “could,” “will,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “project,” “estimate,” “outlook” and other similar expressions, including statements regarding our growth potential, the sustainability of growth, completion of construction at the BC and Saskatchewan expansion sites, output and production estimates at the BC and Saskatchewan expansion sites, development of new products, demand for our products and the medical and adult-use cannabis markets. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception oftrends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements. Please see the heading “Risk Factors” in our 2019 second quarter MD&A which was filed on SEDAR on February 28, 2019 for a discussion of the material risk factors that could cause actual results to differmaterially from the forward-looking information. The Company does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.
This message was sent by Harvest One Cannabis Inc.
ANYTHING UNDER .045 ARE CHEAPIES
SHOULD KNOW MORE ON 09/30/19
SGMD INTRODUCES THE COLORED MASON JAR!
SEE LESS USE LESS LASTS LONGER
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Come on you sweet thing you HRVOF
So now that decline = 100% profit when price returns
3/1/2019 Financials ...
"soon 1 billion outstanding and still no bizright" sylvestor the accredited investor
NEED $5,540,000 FOR BIZRIGHT PLS DONATE TODAY!
ONLY $5,450,000 TO GO RIGHT CEO NO FACE?
CONVERTABLE NOTES "NOT YOUR CONCERN"sylvestor the accredited investor
On January 8, 2019, the Company issued a convertible note to an accredited investor for proceeds to the Company in the amount of $105,000.
On January 22, 2019, the Company issued a convertible note to an accredited investor for proceeds to the Company in the amount of $100,000.
"TERMS OF WHICH ARE NOT YOUR CONCERN"
"tomorrow tomorrow I love you tomorrow!" sylvestor the accredited investor
FANTASTIC Q SOON WE CAN BUY @.025 TOO!
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"see you at the shareholder meeting" sylvestor the accredited investor
Remember It appears we have Billions and Billions of shares to issue @ .015 .02...
Remember Regardless of Shares Outstanding LMFAO
Remember Share Price 3X's Sales
"SGMD Consultants " It's all good!"
lying Giovanni says "come and get it!"
SUGARMADE REITERATES IT REITERATES $30 MM REVENUE GUIDANCE WITHIN CANNABIS MARKETPLACE - FILES QUARTERLY RESULTS
City of Industry, CA -- July 18, 2018 -- InvestorsHub NewsWire -- Sugarmade, Inc. (OTC: SGMD), one of the largest publicly traded cannabis-related hydroponics supply companies, reiterates its $30 million revenue guidance for next fiscal year after filing results for fiscal Q2 2018. Additionally, the Company is announcing today the termination of its culinary business line in order to increase emphasis on its hyper-growth market opportunities.
Sugarmade continues on a strong growth trajectory, which is expected to allow the Company to produce revenue of at least $30 million for the fiscal year ending 2019, representing annual growth of over 500%. The aggressive growth rate is being driving by rapid expansion within the cannabis marketplace, in particular the cannabis cultivation sub-sector, where a majority of the Company's products are focused.
"Over the past year, we have significantly enhanced our operational staff and our internal systems preparing for our rapid growth. With these changes, we believe we are optimally sized, but we want to ensure we are able to manage our aggressively planned growth rate. To this end, we have determined our culinary products are no longer strategic to our goals and thus we are terminating the marketing of these products in order to increase our focus on our highest growth product areas, which is the cultivation-related cannabis sector," commented, NO FACE Jimmy Chan, CEO of Sugarmade.
Today, Sugarmade filed its financials for its fiscal Q2 of 2017, with the Company planning on filing its remaining outstanding fiscal quarter over the very short term, thus restoring the Company to fully reporting status. Mr. Chan continued, "We believe our growth induced reporting challenges are now over allowing this management team to demonstrate to our investors the aggressive growth we already realizing and expect to report over the near term."
Again NO FACE CEO no Tikee no Washee !
"get your .04 's tomorrow !" sylvestor the accredited investor
"tomorrow tomorrow I love you tomorrow" sylvestor the accredited investor
Well I'm in for $100,000 so how sweet $5 will be?
Call me Crazy I'm in for $30,000 DLRVF
NO FACE SELLING SHARES @.015 TO PALS!
Grandpa Tell Us The SGMD Shareholder Meeting Story Again!