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75% short today, for those wondering what’s holding it down. Going to be a nice squeeze
Added 66, catalyst Wednesday coming
Ready to run
Thank you to who ever shorted me 68's
Second Quarter 2019 Financial and Operating Highlights
– Record revenue of $20.7 million in the second quarter of 2019, a 30.8% increase over the same quarter in 2018;
– 13 of 14 quarters of sequential revenue growth;
– Generated $1.4 million of cash from operations, with total cash balance increasing to $5.4 million at quarter end;
– Gross Profit of $15.4 million in the second quarter of 2019, a 61% increase over the same quarter in 2018;
– Adjusted EBITDA of $1.5 million in the second quarter of 2019, an increase of 129% over the same quarter in 2018;
– Cost of Goods Sold decreased as a percentage of sales from 39% in Q2 of 2018 to 26% in Q2 of 2019, resulting in gross profit margins increasing 74% as compared to 60% in Q2 2018;
– General & Administrative expenses decreased from 21% of sales in Q2 2018 to 16% of sales revenue in Q2 of 2019;
– Net Ordinary Income for the period was $877,964; compared to a LOSS of $2 million in the same period last year;
– The Company's CEO Dr. Stuart Titus was chosen as one of 65 speakers to present oral comments at the U.S. Food & Drug Administration (FDA)'s public hearing discussing products containing cannabis-derived compounds;
– Subsidiary Kannaway® was recognized by Direct Selling News as one of the top revenue-generating direct selling companies on the 2019 DSN Global 100 list;
– Subsidiary Kannaway®, was named the winner of a Gold Stevie® Award in the Medium Company of the Year – Health Products & Services category in The 17th Annual American Business Awards®;
– The Company reached a major milestone for long-term stability testing on its flagship THC-free cannabidiol (CBD) oil product Real Scientific Hemp Oil-X™ (RSHO-X™);
– Subsidiary Kannaway® began pre-marketing initiatives in Japan ahead of significant expected growth.
"We are excited to continue our tremendous sequential success with the second quarter of 2019 proving to be the largest sales revenue quarter in the history of our Company," said Dr. Stuart Titus, Chief Executive Officer of Medical Marijuana, Inc. "As the world continues to become more receptive to learning about the benefits of hemp-derived CBD, we are enthusiastic about being at the forefront of the global cannabis industry which, according to Arcview Market Research, could be worth $57 billion by 2027."
Operating Results – Q2 2019 Compared to Q2 2018
Sales for the second quarter of 2019 exceeded $20.6 million, an increase of more than 30% over Q2 2018. Second quarter sales growth reflects the Company's international and domestic expansion into all sales channels, including direct-to-consumer, wholesale and direct selling channels.
The Company reported net ordinary income of $877,964 in the second quarter of 2019, compared to a LOSS of $2 million in the second quarter of the prior year.
The Company executed on a strategic profitability and sales growth plan that resulted in gross margins increasing from 61% in Q2 of 2018 to 74% in Q2 of 2019 as well as decreased General & Administrative Expenses as they relate to percentage of sales revenue.
"We hope that these impressive results excite our valued shareholders and look forward to providing more transparency and accountability moving forward," said Medical Marijuana, Inc. COO Blake Schroeder. "Our number one priority is profitability and we are not only reaching our quarterly goals for this but are surpassing them."
Non-GAAP Adjusted EBITDA for the second quarter of 2019 was $1.5 million or 7.4% of net revenue, compared to $0.7 million or 4.2% of net revenue, in the second quarter of 2018.
Finally, the Company generated $1.9 million of cash flow, with total cash balance increasing to $5.4 million at quarter end.
Yep, 87% short today, nothings being covered, just continuously being rolled over to hold pps down. Big old bowl of cotton candy coming our way
Agreed, this bounces like no other. Buy low sell high
Chart shows Unicorn jumping over Rainbow formation next week. May land in big bowl of Cotton Candy with all the short interest being rolled over.
agreed, .05 here we come
Agreed, after all, a few months ago you told everyone this was running over 50 cents.
96% short yesterday, are they going for 100% today? Eazy squeezey, 2 cents is coming
96% Short today! Good to see only borrowed shares being sold
POSSIBLE .015 BY END OF DAY FRIDAY IMO.IF NOT HIGH ABOVE THAT.
Thought this would turn out like CMGO buyback. Guess it's still early
Yep, not all of us are trying to flip for small profits. Some of us are investors who see where this company is headed. I'll wait for the big prize.
.007 to .035 is the only flip coming
FINRA shows it's mostly short sales. Shorts decided today they would dig their hole even deeper just to break the trendline. That's awesome! Just going to make the next run even bigger, especially when Glenn buys back millions of shares creating a nice squeeze....again
Grabbed 100k of the 71/70's to help you guys out. This company is going to be big in time, and the entertainment value of this board is worth every penny invested.
Take a look at CMGO's stock buyback. Expecting the same results from TRTC. Short squeezes every other week.
Every buyback equals a short squeeze. Endless losses shorty
2.5 million shares(50%) shorted yesterday. No wonder so many shorts here trying to bash. Time to cover boys:)-
GLOBE NEWSWIRE released info 15 minutes ago. Hopefully it pans out
Hemp to produce $200,000 in preroll per day, soon to be $1.6 millon a day. We're all going to be filthy rich!!!!!!
65% short volume yesterday. Time to cover boys!
Sucks for whoever sold today thinking it was being delisted
46% short today
Nothing but short sales going on here
Cool story! I bought more!
No, more like AMZN
Weekly chart shows this coaster stock is headed back up
20 bagger
But it's going to run like hell up to .0002
Nice weekly chart, could be a solid 10+ bagger if pattern stays on track. Nice big steps being established imo
He's here because he has millions of shares to cover and scare tactics are his only option
19,454,938 (42.15%) short today.
Of course you can short HEMP. Why don't you just look at volumebot.com OR shortvolumes.com? This has been heavily shorted. Now we wait for shorty to cover:)
CMGO IS STILL CRAP!!!!!!!!!!!
COMPLETE SCAM. HEADED TO .001, GLAD I DUMPED THIS POS ALREADY
Well, look at weekly chart for last few years. First run to 5.00, second run to 10.00, will we see this go 15.00? looks like big steps being made up IMO.
So many shares needing covered. Expecting a nice run up to 1.40 from here.