Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Irish, that was beautiful.
Cheers
In my previous math, I had used a selling price of $8 per gram sold at a dispensary.
I investigated this recently and discovered the selling price per gram in California for our type of flower currently sits at roughly $12.
Based on this, I present to you below, three scenarios and their rough revenue projections based on our current sales figures: 10%, 50% and 100% of NGW product sold at a NGW dispensary.
Enjoy :)
NEXT GREEN WAVE – NGW / NXGWF
169,561,000 SHARES
Q3 2020 REVENUE: 3,500,000
ANNUAL REVENUE: 14,000,000
Q3 PRICE PER GRAM SOLD: 5.07
ANNUAL GRAMS SOLD: 2,761,341
DISPENSARY SELLING PRICE PER GRAM SOLD: $12
10% NGW PRODUCT SOLD AT NGW DISPENSARY ANNUAL REVENUE: $3,313,609
TOTAL ANNUAL REVENUE (10% DISPENSARY + 90% AS CURRENT): 15,913,609
13.67% REVENUE INCREASE
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.0938
50% NGW PRODUCT SOLD AT NGW DISPENSARY ANNUAL REVENUE: $16,568,046
TOTAL ANNUAL REVENUE (50% DISPENSARY + 50% AS CURRENT): $23,568,046
68.34% REVENUE INCREASE
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1389
100% NGW PRODUCT SOLD AT NGW DISPENSARY ANNUAL REVENUE: $33,136,092
136.67% REVENUE INCREASE
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1954
I also studied the share prices for Canadian Licensed Producers when cannabis became legal in 2018 to try to estimate the share price when hype leads to a price spike. Based on my research, I found that share prices were roughly at 47x revenues when they spiked. This may not mean anything, so here’s the math with that value using my previous examples ;)
10% DISPENSARY SALES
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.0938
47X REVENUE PRICE PER SHARE: $4.41
50% DISPENSARY SALES
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1389
47X REVENUE PRICE PER SHARE: $6.53
100% DISPENSARY SALES
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1954
47X REVENUE PRICE PER SHARE: $9.18
Ladies, gentlemen. Always remember:
People always look out for themselves.
And those who invest, participate.
I’m not worried.
In my previous math, I had used a selling price of $8 per gram sold at a dispensary.
I investigated this recently and discovered the selling price per gram in California for our type of flower currently sits at roughly $12.
Based on this, I present to you below, three scenarios and their rough revenue projections based on our current sales figures: 10%, 50% and 100% of NGW product sold at a NGW dispensary.
Enjoy :)
NEXT GREEN WAVE – NGW / NXGWF
169,561,000 SHARES
Q3 2020 REVENUE: 3,500,000
ANNUAL REVENUE: 14,000,000
Q3 PRICE PER GRAM SOLD: 5.07
ANNUAL GRAMS SOLD: 2,761,341
DISPENSARY SELLING PRICE PER GRAM SOLD: $12
10% NGW PRODUCT SOLD AT NGW DISPENSARY ANNUAL REVENUE: $3,313,609
TOTAL ANNUAL REVENUE (10% DISPENSARY + 90% AS CURRENT): 15,913,609
13.67% REVENUE INCREASE
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.0938
50% NGW PRODUCT SOLD AT NGW DISPENSARY ANNUAL REVENUE: $16,568,046
TOTAL ANNUAL REVENUE (50% DISPENSARY + 50% AS CURRENT): $23,568,046
68.34% REVENUE INCREASE
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1389
100% NGW PRODUCT SOLD AT NGW DISPENSARY ANNUAL REVENUE: $33,136,092
136.67% REVENUE INCREASE
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1954
I also studied the share prices for Canadian Licensed Producers when cannabis became legal in 2018 to try to estimate the share price when hype leads to a price spike. Based on my research, I found that share prices were roughly at 47x revenues when they spiked. This may not mean anything, so here’s the math with that value using my previous examples ;)
10% DISPENSARY SALES
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.0938
47X REVENUE PRICE PER SHARE: $4.41
50% DISPENSARY SALES
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1389
47X REVENUE PRICE PER SHARE: $6.53
100% DISPENSARY SALES
REVENUE PER SHARE WITH 169,561,000 SHARES: $0.1954
47X REVENUE PRICE PER SHARE: $9.18
craignortheast, you are welcome.
I'm invested in this company, so I may as well share the news :)
Looking forward to those upcoming announcements from Next Green Wave.
$NGW
$NXGWF
Next Green Wave Q3 2020 earnings call transcript for those who missed the call:
https://seekingalpha.com/article/4394361-next-green-wave-holdings-inc-nxgwf-ceo-michael-jennings-on-q3-2020-results-earnings-call
$NGW
$NXGWF
Next Green Wave Q3 2020 earnings call transcript for those who missed the call:
https://seekingalpha.com/article/4394361-next-green-wave-holdings-inc-nxgwf-ceo-michael-jennings-on-q3-2020-results-earnings-call
$NGW
$NXGWF
Next Green Wave NGW NXGWF also stated Q4 2020 revenue is expected to be between 4.5 and 5 million dollars! That is a 30% revenue increase in one quarter!
Also, using Facility C for packaging - smart move while we wait for extraction demand to grow.
I want to see a Next Green Wave owned store open.
The revenue jump would be huge.
Next Green Wave NGW NXGWF also stated Q4 2020 revenue is expected to be between 4.5 and 5 million dollars! That is a 30% revenue increase in one quarter!
Also, using Facility C for packaging - smart move while we wait for extraction demand to grow.
I want to see a Next Green Wave owned store open.
The revenue jump would be huge.
Has anyone noticed the new Investor's Presentation for Next Green Wave?
It's got Ben Kovac's name in it, meaning it's new as of December 3rd 2020.
It states something very interesting on page three:
"Multiple revenue channels, dispensary, wholesale, distribution, manufacturing."
Dispensary.
I know the city of Los Angeles has recently opened the application process for licenses...
Also, who's joining the call this Friday, December 11th?
$NGW
Has anyone noticed the new Investor's Presentation for Next Green Wave?
It's got Ben Kovac's name in it, meaning it's new as of December 3rd 2020.
It states something very interesting on page three:
"Multiple revenue channels, dispensary, wholesale, distribution, manufacturing."
Dispensary.
I know the city of Los Angeles has recently opened the application process for licenses...
Also, who's joining the call this Friday, December 11th?
$NXGWF
My favorite phrase from the newest Next Green Wave press release:
“Mr. Kovacs was the former Chief Revenue Officer at NorCal Cannabis, one of the largest vertically integrated indoor producers in California.”
Vertically integrated
Indoor producer
California
Hopefully this means a store or two soon.
$NGW
My favorite phrase from the newest Next Green Wave press release:
“Mr. Kovacs was the former Chief Revenue Officer at NorCal Cannabis, one of the largest vertically integrated indoor producers in California.”
Vertically integrated
Indoor producer
California
Hopefully this means a store or two soon.
$NXGWF
Hi everyone, happy Friday.
This document details certain changes between Next Green Wave’s last two quarters.
Next Green Wave
CSE: NGW
OTCQX: NXGWF
Comparing Next Green Wave’s latest two quarterly results:
Q2 (April-June 2020) to Q3 (July-September 2020)
All in USD
CASH: Increase of 789,171 or 53% to 2,266,690
TOTAL ASSETS: Increase of 630,602 or 3% to 19,152,690
TOTAL CURENT LIABILITIES: Decrease of 1,643,506 or 78% to 463,556
TOTAL LIABILITIES: Decrease of 1,021,367 or 20% to 4,021,027
TOTAL SHAREHOLDER EQUITY: Increase of 1,651,969 or 12% to 19,152,690
REVENUES: Increase of 408,880 or 13% to 3,582,416
OPERATING EXPENSES: Increase of 193,120 or 25% to 956,094
GROSS PROFIT: Increase of 1,331,651 or 342% to 1,720,978
NET INCOME: Decrease of 2,491,778 or 86% to 402,007
CASH FLOW USED IN OPERATING ACTIVIES: Increase of 1,003,827 or 172% to 1,584,845
Basically, this was the first profitable quarter from operations for Next Green Wave!
Interestingly, the selling price per gram increased this quarter from 4.21/g to 5.07/g, representing a 20% increase! This is probably due to the fact that Next Green Wave’s products are in high demand.
Post harvest costs (0.75) yield per plant (56g) and wastage (5%) remain unchanged though the stage of growth has decreased from 9 weeks to 5! Looks like Mike has fine-tuned Facility A for maximum efficiency, which should lead to an increase in total output and thus higher revenues.
I still believe the path to quickly increasing revenues will be for the company to become totally vertically integrated, which means retail (stores).
Opening a retail store would increase the selling price per gram from 5.07 to 8 dollars or higher, an increase of roughly 60% in revenues.
Remember, the US House votes on the MORE act today, which will create headlines if passed.
It is widely expected to pass as the House is controlled by the Democratic Party.
The next step will be the Senate, currently under Republican control though this could change on January 5th following the Georgia Runoff election.
Hi everyone, happy Friday.
This document details certain changes between Next Green Wave’s last two quarters.
Next Green Wave
CSE: NGW
OTCQX: NXGWF
Comparing Next Green Wave’s latest two quarterly results:
Q2 (April-June 2020) to Q3 (July-September 2020)
All in USD
CASH: Increase of 789,171 or 53% to 2,266,690
TOTAL ASSETS: Increase of 630,602 or 3% to 19,152,690
TOTAL CURENT LIABILITIES: Decrease of 1,643,506 or 78% to 463,556
TOTAL LIABILITIES: Decrease of 1,021,367 or 20% to 4,021,027
TOTAL SHAREHOLDER EQUITY: Increase of 1,651,969 or 12% to 19,152,690
REVENUES: Increase of 408,880 or 13% to 3,582,416
OPERATING EXPENSES: Increase of 193,120 or 25% to 956,094
GROSS PROFIT: Increase of 1,331,651 or 342% to 1,720,978
NET INCOME: Decrease of 2,491,778 or 86% to 402,007
CASH FLOW USED IN OPERATING ACTIVIES: Increase of 1,003,827 or 172% to 1,584,845
Basically, this was the first profitable quarter from operations for Next Green Wave!
Interestingly, the selling price per gram increased this quarter from 4.21/g to 5.07/g, representing a 20% increase! This is probably due to the fact that Next Green Wave’s products are in high demand.
Post harvest costs (0.75) yield per plant (56g) and wastage (5%) remain unchanged though the stage of growth has decreased from 9 weeks to 5! Looks like Mike has fine-tuned Facility A for maximum efficiency, which should lead to an increase in total output and thus higher revenues.
I still believe the path to quickly increasing revenues will be for the company to become totally vertically integrated, which means retail (stores).
Opening a retail store would increase the selling price per gram from 5.07 to 8 dollars or higher, an increase of roughly 60% in revenues.
Remember, the US House votes on the MORE act today, which will create headlines if passed.
It is widely expected to pass as the House is controlled by the Democratic Party.
The next step will be the Senate, currently under Republican control though this could change on January 5th following the Georgia Runoff election.
Next Green Wave Appoints Ben Kovacs to its Board of Directors
Vancouver, B.C. — December 3, 2020 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", “NGW” or the "Company") is pleased to confirm the appointment of Ben Kovacs to the Company’s Board of Directors.
Mr. Kovacs was the former Chief Revenue Officer at NorCal Cannabis, one of the largest vertically integrated indoor producers in California. Mr. Kovacs is also the Chairman of a group of companies in the cannabis hardware space; this includes the international Octave & Myster brands.
Ben’s other experience includes time spent with Twitter and operating Guardian, a non-profit martial arts gym in Oakland which provides free boxing and Brazilian jiu jitsu to kids.
At NorCal, Ben helped grow the company from a small wholesale business into a powerful house of brands distributed state-wide. He played pivotal roles in sales and marketing, fundraising and corporate strategy.
"Ben is a special individual. He has a clear vision of how this industry will likely unfold, and the understanding for how to help a company execute to get there which is a rare combination in the space. After a number of conversations with him and seeing what he accomplished in his last role, it became clear that he could add incredible value to our organization as a member of our board. Not only does he have extensive experience in CA cannabis, but a diverse background in digital advertising, brand building, and adjacent industries to what we focus on at NGW. His experience from small scrappy companies and nonprofits, to working with some of the most iconic companies in the world, will be instrumental in providing perspective and thoughtful guidance to me and our team."” - Michael Jennings CEO Next Green Wave
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
Next Green Wave Records Second Consecutive Month of US$1,000,000 Adjusted EBITDA
Vancouver, B.C. — December 1, 2020 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) ("Next Green Wave", “NGW” or the "Company") is pleased to announce the following operational and financial milestones:
In November 2020, the Company’s Adjusted EBITDA* was approximately US$1,000,000. This after already recording approximately US$1,000,000 in October 2020.
The Company surpassed US$1.65 Million of revenues in November 2020. The total cash costs incurred to generate November revenue was approximately US$650k*.
PlayButton
WATCH THE VIDEO
Josh
Q3 2020 Financial Results Now Available on SEDAR (www.sedar.com)
The Company would like to highlight some Q3 2020 achievements:
Surpassed US$1 Million in Revenues in every month.
As shown in the table below, the Company has materially increased its quarter over quarter revenue, while achieving positive Adjusted EBITDA* and managing investor relations expenses.
Table_002
The Company is also pleased to announce the details of its quarterly shareholder call scheduled to take place on Friday Dec 11, 2020 at 2:00PM PST. Pre-registration is mandatory and can be completed by clicking HERE. After registration, you will receive a confirmation email containing information on how to join the call.
The Company also announces that Paul Chow has resigned, effective November 30, from his position as Director to explore other business opportunities. Mr. Chow was instrumental in the development of the Company from a private company to a public listing on the Canadian Securities Exchange and played a pivotal role in helping shape the business. We wish him all the best in his future endeavors.
“Throughout 2020 we have shown that the Company is consistently profitable quarter over quarter while transforming from a bulk cannabis seller into a highly popular consumer products goods company. We launched the NGW brand with premium packaged flowers in early 2020, and now we have branded products in every major premium category: flower, pre rolls, dabbable extracts, vape carts and edibles. As our Q4 results show so far, this transformation will allow NGW to consistently grow revenue and profit while we look to expand production capacity in 2021 and beyond.” - Michael Jennings CEO Next Green Wave
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
Financials are out!
Next week could be huge for cannabis.
UN votes on cannabis December 2-4.
House votes on the MORE act as well.
This is going to be interesting :)
Another good move by Next Green Wave!
The first blog post was a good read, I'm looking forward to reading more.
Financials out on Monday!
We have a CEO who knows and grows incredible cannabis. That's what Next Green Wave is about: top shelf, out-of-this-world cannabis. That's why the product sells out week after week. That's why sales keep growing. And now, with facility C, expenses will decline too.
Mexico legalized cannabis Thursday, the world is changing fast!
https://www.usnews.com/news/world/articles/2020-11-19/mexicos-senate-approves-sweeping-cannabis-legalization-bill
Future's looking good.
Hunterdog, thank you for moderating our board.
Cheers
Everyone,
This is a sobering reminder to always source the news.
This is the internet, so don't assume everyone is either:
1. Properly informed,
2. Well-intentioned,
3. Or both.
This is a an internet forum for a penny stock, so we're bound to see more posts spreading fear in an attempt to lower the share price, either to buy the stock or for putt stock option plays.
I'm looking forward to the next release from Next Green Wave.
That's what I pay attention to.
Upcoming Events:
1. Next Green Wave Q3 Financial Statement - November 30 2020
https://www.nextgreenwave.com/news-releases/next-green-wave-records-us1000000-adjusted-ebitda-in-october-2020/
2.UN vote on Cannabis - December 2020
https://cannabiswire.com/2020/10/08/un-commission-meets-again-on-cannabis-ahead-of-december-vote/
3. Georgia Runoff election - December 1 2020 + January 5 2020
https://georgia.gov/vote-2020-runoff-elections
4. Swearing-in of Biden - January 20 2020
https://www.nytimes.com/2020/11/09/us/politics/inauguration-biden-harris.html
Next Green Wave Tour - A Look Inside
Take a look around our Central California cultivation space. For the first time we are opening our doors for the world to see all of the hard work our team has put into this craft cultivation space.
https://bit.ly/38AiTo9
Ladies, Gentlemen,
Biden won.
This is one of the biggest positive changes for Cannabis in the USA.
Descheduiling and decriminalization are coming soon.
5 new states passed legal cannabis measures this week.
We're still very early in the game.
This is going to be a very fun week
Excellent news!
1,000,000 USD Adjusted EBITDA in ONE MONTH!
Hi Craig,
In my opinion, the store was a flop as it only sold CBD products, not THC. It would be like going to a booze store that only sells non-alcoholic products.
A small store from which a delivery van or two could operate would DOUBLE the revenue per gram sold.
Of course, it the dispensary is located directly next to Have a Heart in Coalinga, it will cause issues.
I'm sure there's a location in CA that one could call a "Cannabis desert" (no stores nearby).
Additionally, customers form bonds with the retailer, not the manufacturer.
Warren Buffet bet big on Kraft. Big mistake: most people go for the cheaper house-brand. Of course - I'm generalizing here, but you get the point.
And that's the thing. Once these dispensaries start growing their own stuff, where does that leave Next Green Wave?
Here's the math:
NGW creates incredible cannabis, then sells 1g of product to a dispensary for $4.21. The dispensary then sells that same gram to a customer for $8.41.
Look at the winners in the industry so far: TRUL, GTII, CURA, CL. They are all 100% vertically integrated (that's seed to SALE, not shelf) in at least one jurisdiction (their most profitable).
And the old store was a partnership with SDC. If Next Green Wave owned and operated a store, 100% of the revenue would come back to the company.
And what are the expenses for a store? Staff, rent, electricity, insurance and the permit fee. These are tiny compared to the revenue it could generate.
My 2c.
Happy to share, HD. I research this sector a LOT, and Next Green Wave are one of the winners in my opinion. Looking forward to the extraction facility going into operation, the gummies' official release and still believe a dispensary would help the company generate a lot more revenue. We'll see what happens, either way I'm long NGW.
Technical 420 singing praise for Next Green Wave:
https://technical420.com/cannabis-article/next-green-wave-has-been-quietly-building-a-cannabis-cpg-powerhouse/#
Not a paid promotion, this is actual excitement!
Investors are taking notice! Although these profits are great, I too am long NGW. This is only the beginning. I definitely see the stock reaching the $7-$10 range within the next few years.
Mike Jennings at the Virtual Benzinga Cannabis Conference 2020
I agree, looks bad. A lot sold, too...
Maybe they're getting rid of him?
One less mouth to feed?
The Benzinga Cannabis Conference was today...
Next Green Wave Sauce Carts Sell Over 100k In Under 30 Days
Vancouver, B.C. — October 15, 2020 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave”, “NGW” or the “Company”) the Company is pleased to announce that the first 30 days of sauce cartridge sales (the “Carts”) generated revenue of over US$100,000, at a gross margin of approximately 60%. Due to the success of the soft launch, the Company plans to rapidly expand distribution to all current retail partners, continuing NGW’s evolution from a flower producer to CPG company. Next Green Wave currently has the following branded products in the market: Indoor flower, pre-roll joints, dabbable extracts, the Carts.
The Carts are totally different than your standard “vape” or “sauce cart” ; this is a non-distilled sauce with COA’s coming back as high as 85% THC and 95% total cannabinoids. And because it is not distilled, each cartridge has the full spectrum of terpenes, cannabinoids and flavonoids enabling a true connoisseur grade entourage effect experience.
In other words, the Carts are:
Single source
Strain specific
Non-distilled
Non-refined
No additives
Indoor flower derived biomass
100% all natural
3rd party lab tested
The focus on ‘downstream’ products (all cannabis CPG’s other than flower) gives Next Green Wave the ability to continue growing revenue, cash flow and profit beyond the current constraints of our flower production limits. As a result, the Company can take market share in segments that do not require NGW production infrastructure, labor or resources.
The current strain specific varieties include:
Wedding Cake
Le Mans
GMO cookies
GMO Cherries
Grape pie cookies
Pineapple upside down cake
Slurricane
Lava cake
GG4
Og kush
Fatso bred by @reallycannarado, cultivated by Next Green Wave – now also available now as full spectrum sauce.
This menu of exotic strain varieties include some hard to find genetics that have come from our Pheno hunting and genetics sourcing. The flower strains used are top shelf and high demand, differentiating this sauce from the competition in the market.
Slurricane grown by Next Green Wave, now available in full spectrum sauce.
“The successful launch of our Next Green Wave Sauce Cart highlights our ability to create high margin top quality consumer product goods in the most sophisticated market, within a very competitive category. As such, we look for this product to be a significant driver of top line revenue and EBITDA moving forward.” – Mike Jennings CEO – Next Green Wave
Michael Jennings
Chief Executive Officer, Director
Next Green Wave Holdings Inc.
https://www.nextgreenwave.com/news-releases/next-green-wave-sauce-carts-sell-over-100k-in-under-30-days/
Hi Craig,
I believe the store didn't work because it was CBD only, not THC. Look at the profitable companies in cannanis: TRUL, LHS, BAMM (see Q1 2021 financials coming out in December). They all grow, process and sell their own products. This way, they control both the cost and selling price, giving them more flexibility while generating significantly more revenues.
As I said, we sell a gram for $4.21.
This same gram is then sold to the customer for $8.
Another reason: the customer tends to create a connection with the store (staff, location, promotions, etc.) much more than the brand that makes the products.
When was the last time you gave your money to a manufacturer?
We pay the sellers of products, not manufacturers.
Hi HD, thanks for the taking the time to share your observations.
Did you see the extraction facility?
Another way to quickly increase revs would be to sell NGW products from a company-owned store. Total vertical integration. If you look at NGW selling cost per gram of $4.21, it's roughly half the price of a 1g pre-roll (roughly $8). This would DOUBLE the company's revenues.
My 2c.
Pictures of the extraction facility would be great if possible HD, enjoy the tour tomorrow.
Wow another $29,000 invested by our CFO. Excellent news!
As long as they keep dilution to a minimum.
Next Green Wave Surpasses 6 Months of Positive Cash Flow and Profitability - October 7, 2020
Vancouver, B.C. — October 7, 2020 — Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave”, “NGW” or the “Company”) As a follow up to our last press release on September 1, 2020, the Company is pleased to confirm the following financial milestones:
In the months of July, August and September 2020, the Company operated with positive cash flow, and achieved both positive Adjusted EBITDA* and positive Net Income (the “Milestones”). It has now achieved these Milestones for seven consecutive months.
In the months of July, August and September 2020, the Company surpassed US$1.1 Million of revenues in each month, and as a result, achieved approximate revenues of US$3.5 Million in Q3 2020. The total cash costs incurred to generate Q3 2020 revenue was approximately US$1.9 Million*.
The CDN$1,500,000 of convertible debentures (the “Debentures”), previously announced on December 13, 2019, have been fully converted into common shares and all outstanding interest payments related to the Debentures have been fully paid. As a result, the number of common shares issued and outstanding, as of October 7, 2020, is 169,506,783.
To capitalize on the growing popularity of the NGW brand due to the success of the indoor flower line, the company has launched several new artesanal grade products that can be found in premium dispensaries in cities across California, including San Diego, LA, Modesto, Sacramento and Oakland. Next Green Wave branded prerolls, dabbable extracts and vape cartridges are all currently available throughout California, while the Company’s line of gum drops is expected to hit the market mid October. Next Green Wave followed the same approach that led to the successful flower launch, first releasing products locally in Coalinga at Have A Heart and quickly expanding through our other retail partners and distributors, including some of Los Angeles most well known and respected locations like DTPG, Dr. Greenthumbs.
“Considering the challenges and obstacles this Company has had to overcome over the last few years we are extremely proud to announce the above accomplishments. Now that we have set baselines for production and revenue over the last two quarters, our objectives are threefold. First, continue to optimize operations and improve production metrics to maximize overall flower output at our production facility. Second, continue to grow revenue by increasing branded product sales volume and increasing downline product sales such as extracts, prerolls, vape cartridges and edibles. Finally, get our extraction facility online this year which will add revenue through tolling and decrease internal production costs for downline products.
The whole team has been working hard to meet our continued growing demand as we are sold out week after week. The rapid expansion into retail is in full bloom across California including Oakland, Los Angeles, San Joaquin Valley and San Diego areas.” – Mike Jennings CEO Next Green Wave