$CIIX First Quarter Fiscal 2019 Financial Highlights
Year-over-Year total revenue increased 70 percent.
Year-over-Year product sales increased over eight times (800%).
Cash and Cash equivalents more than doubled from $1.4M to $3M, quarter-over-quarter.
In addition, the Company's subscription revenues nearly doubled with an increase of over $90,000 USD, year-over-year.
"CBD hemp sales in China continue to be the foundation of our focus," says Mr. Warren Wang, Chief Executive Officer for ChineseInvestors.com ( CIIX
Loading...
Loading...
). "Our subscription services will continue to provide a steady revenue stream along with the new educational services covering the cryptocurrency market."
During the quarter, cash and cash equivalents for the Company doubled from $1.4M to $3M, and total current assets have increased in one quarter from $3.2M to $5.5M. As of Aug. 31 there were 33,576,560 outstanding shares of common stock, with a closing market value as of October 17, 2018 of $0.90 per share.
As the Chinese business, regulatory and political landscapes continue to evolve with regard to the industrial hemp CBD industry, Wang anticipates further positive developments for the rest of Fiscal Year 2019.
"With increased marketing resources devoted to our industrial hemp-based CBD products, we anticipate a productive Fiscal Year 2019," says Wang. "We look forward to increased product distribution both domestically and in the China markets."
The results of the Company's operations through August 31, 2018 are set forth completely in the Company's Form 10-Q quarterly report as filed with the SEC on October 15, 2018 and can be accessed at ChineseInvestors.com ( CIIX
Nothing I say, post, or do should ever be considered financial advice. I may be holding a long, short or no position. I am NOT or NEVER have I been compensated to post on here or anywhere and all my posts are for entertainment purposes only.
