8k Just now regarding filing! Read here
"Sugarmade Inc., a Delaware corporation (the “Company”) has received several questions from its investors and it wishes to address these questions, and therefore makes the following disclosures pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934, generally referred to as Regulation FD Disclosure.
Sugarmade continues to be committed to returning the Company to fully reporting status and is working diligently on these tasks. As of the date of this filing, the Company has completed the financial accounting for the quarter ending December 31, 2017 and has completed the filing document on Form 10-Q. The corporate auditor is now reviewing these results and the filing. The Company plans to file this quarterly report upon final sign off, which is expected over the very short term. Sugarmade has also completed the accounting and financial reports for the quarter ending March 31, 2018, and upon review and approval plans to file these results on Form 10-Q with the U.S. Securities & Exchange Commission, thus returning the Company to fully reporting status. The Company does not expect any additional significant delay in this second filing.
As management had previously indicated, Sugarmade is experiencing significant growth in revenues due to strong industry grow dynamics and the entrance into several new markets. The number of products SKUs offered by the Company has more than tripled since the end of the last fiscal year and is expected to continue to grow rapidly through at least the end of the fiscal year ending June 30, 2019. The growth in revenues, especially relating to past financial reporting periods, strained the Company’s financial systems, resulting in the late reporting. Financial reports for fiscal and calendar years ending 2018 and 2019 are expected to show substantial revenue growth, which will likely to be well in excess of industry growth rates. The Sugarmade team has taken strong action to ensure timely financial reporting in the future, significantly enhancing the finance and accounting staffs and installing new accounting software systems to automate many of the tasks that we previous manually performed. Management of the Company believes, as a result of the personnel enhancement and software system improvements, timely reporting for future financial results is likely."
