VATE HAS MONSTER Q1, WILL DOUBLE REVS IN Q2
$166,000 in revenue
76% gross margins
Zero convertible debt
Forecasting doubling of revenues in Q2 — Over $332,000 https://www.globenewswire.com/news-release/2019/05/16/1826204/0/en/Elev8-Hemp-Announces-Continued-Promising-Growth-and-First-Quarter-Earnings.html Elev8 Hemp Announces Continued, Promising Growth and First Quarter Earnings
ORLANDO, Fla., May 16, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Elev8 Brands, Inc. (OTCQB: VATE), a holding company focused on commercial development of hemp and cannabinoid-infused beverages as well as an array of CBD topicals and tinctures, is thrilled to announce rapidly increasing financial growth as well as impressive first quarter earnings for 2019. In all of 2018, Elev8 Hemp generated over $372,000 in revenue. By the end of the first Quarter of 2019, it has already exceeded $166,000 in sales foreshadowing an incredible year for the company in terms of growth and profit potential as sales continue to rise. In the past 30 days, Elev8 Hemp has generated over $20,000 in revenue on Amazon alone, surpassing every other hemp coffee or tea.
“This is an extremely exciting time to be in business,” said Ryan Medico, CEO of Elev8 Hemp Inc. “We are so thrilled to be where we are today and to have achieved so much. These CBD-infused beverages have become the catalyst for exponential growth this year. We are currently working with a few distributors, but our team has 11 new distributors in our sales process. As a result, it's very likely we will see revenues double in the second quarter.”
The company’s profitability has seen benefits beyond revenue. Elev8 Hemp has eliminated all convertible notes and predicts an incredible amount of growth and brand recognition as its products reach more customers nationwide
. The CBD bottled iced teas have been shipped out, and all preorders will be reaching customers in several days. At present, Elev8 Hemp has three distributors who are moving the ready-to-drink products to shelves in grocery and convenience stores all over.
Those interested in trying Elev8’s CBD-Infused ready-to-drink coffee and tea along with many other CBD-infused products can order on Elev8 Hemp’s website while those interested in understanding the benefits of hemp products can learn more here.
About Elev8 Hemp, Inc.
Elev8 Hemp’s mission is simple: craft the highest-quality, organic hemp products for consumers in search of a healthier, happier lifestyle. Everyone needs to get the proper amount of healthy proteins to keep them feeling better and more energetic. We source only the best organic hemp protein powders—naturally full of powerhouse amino acids and Omegas-3, 6, and 9—so we can infuse your daily coffee and tea with an abundance of minerals, vitamins, antioxidants, and fiber.
Mother Nature creates this pure hemp with a rare, perfect balance for optimal nutrition and exceptional taste. Elev8 Hemp takes these raw, natural products and transforms them into delicious CBD-infused beverages that will become your new favorite daily drink. CBD-infused coffees and teas are our specialty, and we take our mission very seriously. Let us do what we do best, and let achieving a healthier lifestyle be as simple as remembering your morning cup.