TREES Corporation (CANN)

[Warlon]

Pressrelease: General Cannabis Announces 2017 First Quarter Results
http://www.prnewswire.com/news-releases/general-cannabis-announces-2017-first-quarter-results-300457318.html

Excerpt:

"We are pleased that our diversified model continues to work well, with newer divisions providing opportunities for nationwide revenue growth," continued Frichtel. "The continued product price declines in the Colorado market has led to a decrease in overall security guard usage throughout the state. To balance this, Iron Protection Group is expanding into California and is broadening the suite of services it provides to clients."

"The increase in total costs and expenses reflects our commitment to developing and maintaining a strong infrastructure" Frichtel added. "Chiefton, for example, has added personnel to become a full-service marketing agency. We have built a strong institutional cannabis platform that continues to gain strength."

The significant change in the "Other (income) expense" category was due almost entirely to non-cash (gains) expenses associated with changes in the fair value of the warrants issued with debt.

"I am excited by Next Big Crop's ability to take advantage of new markets, and am anticipating that our security and marketing segments will soon follow suit," said Michael Feinsod, Executive Chairman of General Cannabis. "During the first quarter, we have expanded our corporate team, hiring new team members with significant professional accounting experience and engaging external consultants with traditional sales experience. These investments are beginning to take hold and further position General Cannabis to continue its leadership position through nationwide expansion. We are well-positioned to expand into new markets. We continue to prove that we have one of the strongest platforms in the industry and are poised for continued growth."