Thursday, January 30, 2020 8:22:55 AM
CLS Holdings Releases 2019 Year-End Statement for CLS Nevada
https://www.clsholdingsinc.com/news-media/press-releases/detail/106/cls-holdings-releases-2019-year-end-statement-for-cls-nevada
LAS VEGAS, Jan. 30, 2020 /PRNewswire/ - CLS Holdings USA, Inc (OTCQB: CLSH; CSE: CLSH) ("CLS" or "The Company"), a diversified, integrated cannabis producer and retailer, has just released its 2019 calendar year-end statement for CLS Nevada.
While 2019 was a significant growth year for CLS and its Nevada subsidiaries ("CLS Nevada"), both 2018 and 2019 were turbulent years for cannabis sector stocks as a whole. After multiple market scares and volatility, many cannabis stocks remain at a fraction of their peak value.
CLS is committed to its shareholders and to building a robust and sustainable business with an emphasis on careful, profitable growth.
December 2019 Financial Highlights (CLS Nevada)
114.64% increase in number of customers served (23,479 in Dec. 2019 vs. 10,939 in Dec. 2018)
26.10% increase in total net revenue ($996.673.18 vs. $790,396.21 in Dec. 2018)
69.41% increase in gross profit ($486,249.81 vs. $287.022.30 in Dec. 2018)
34.35% increase in gross margin (48.79% vs. 36.31% in Dec. 2018)
The Company continues to reinvest and expand our Nevada operations with internally generated cash flow.
CLS Nevada 2019 Calendar Year Highlights & 2020 Forecast
2019 has been an exceptional year for CLS Nevada. We made substantial investments into our Nevada operations, hired some terrific people, completed 3 renovations of our dispensary and saw remarkable growth in revenue, customer traffic and turned EBITDA positive. The new year is off to a remarkable start and we anticipate continued substantial revenue and EBITDA growth.
We saw the number of transactions increase at our Oasis Cannabis dispensary from 115,768 in 2018 to 203,127 in 2019, an increase of 75%. We did this while substantially increasing our gross margin, becoming EBITDA positive and experiencing exceptional revenue growth.
We are forecasting CLS Nevada 2020 revenue of $17 million and positive EBITDA of $4 million. The company has the human resources necessary to exploit our share of the rapidly evolving Nevada cannabis market.
CLS Nevada 2019 Calendar Year Operational Highlights
2019 was a major transition year for the CLS Nevada subsidiaries. Improvements to both the Las Vegas dispensary (Oasis Cannabis) and the North Las Vegas production facility (City Trees) have allowed CLS Nevada to greatly expand its footprint in a very competitive cannabis marketplace.
Recent CLSH News
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 03/07/2024 08:33:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 08:31:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/26/2024 04:31:07 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 02/15/2024 08:32:15 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 02/12/2024 09:38:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/07/2024 09:14:38 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/18/2024 07:24:24 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 01/11/2024 09:01:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 08:08:13 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 01/04/2024 05:03:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/02/2024 10:18:43 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/04/2023 07:39:18 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/04/2023 01:17:10 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 10/16/2023 01:00:30 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 10/12/2023 07:57:54 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 10/04/2023 09:06:42 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 08/24/2023 08:01:07 PM
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