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[Robertscott]

$SGMD, one of the largest publicly traded cannabis-related hydroponics supply companies returns to the OTCQB Venture Market trading venue as a fully reporting company with the U.S. Securities & Exchange Commission. Additionally, the Company makes comments relative to the strong revenue growth it is experiencing within the cannabis supplies marketplace.

Sugarmade expects revenue growth to at least $30 million for 2019, with operating profitability and positive operating cash flow. For the most recently reported quarter, the Company reported revenues of just under $3 million, representing a sequential revenue increase of approximately 215% and a year over year revenue increase of approximately 228%. The Company is expecting additional revenue growth over the coming quarters due to a significant increase in the number of products being offered for sale and due to continued strong momentum in cannabis cultivation in California and other U.S. states where legalization has occurred.

Jimmy Chan, CEO of Sugarmade commented, "We are very proud of the growth we are realizing. A year ago we had a staff of 22 packed into a small office and warehouse. We have now grown our staff to more than 45, with additional staff member recruitment underway, and our office and warehouse space has increased by more than 300%. Our new facility in Monrovia, Ca, will allow us to grow our revenue to our stated objective of at least $30 million for next year. All of us at Sugarmade thank our valued shareholders for all the support provided as we grow our organization to address what we believe is one of the most exciting business marketplaces seen over the past few decades."

https://finance.yahoo.com/news/sugarmade-returns-otcqb-fully-reporting-123000702.html