![](https://investorshub.advfn.com/uicon/376505.png?cb=1465378936)
Friday, August 14, 2020 6:55:53 AM
4:20 AM ET 8/14/20 | GlobeNewswire
CBDS Reports Q2 Revenues Up 377% From Q2 2019 as Telemedicine Mainstreams
Mesquite, NV, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Cannabis Sativa, Inc. (CBDS) announces Q2 Revenues of $721,095 and gross profit of $438,812 for the three months ended June 30, 2020. On a percentage basis this represents growth of 377% and 439% for revenue and gross profit, respectively, for the three months compared to the same period in 2019. For the six-month period ended June 30, 2020, revenues and gross margins were $1,214,235 and $744,617, respectively. This represents growth of 383% and 447%, respectively, when compared to the six months ended June 30, 2019.
"The telehealth sector overall has seen explosive growth, and CBDS' increases are a result of the improved business operations of PrestoCorp, our 51% owned subsidiary doing business as PrestoDoctor (https://prestodoctor.com/) said President David Tobias. PrestoDoctor continues to exceed expectations as people stay home, work from home, and practice social distancing while using telemedicine.
President Trump's recently signed Executive Order to Improve Rural Health and Telehealth Access replaces temporary Public Health Emergency ("PHE") rules. The new mandate permanently allows telehealth across state borders and gives PrestoDoctor expanded opportunities to provide services in states that were previously only tempraryliy available via the PHE rules. "These developments are expected to have a positive impact on revenues in the coming periods," President David Tobias stated.
In addition, GK Manufacturing and Packaging, Inc. ("GKMP"), our 51% owned subsidiary providing contract manufacturing of cannabidiol ("CBD") infused products to national and regional customers, is expected to provide substantial revenues by Q4 2020. GKMP is currently producing white label products infused with CBD for a range of customers, and is beginning to build a backlog of repeat orders that extend through the end of the year. Cannabis Sativa has invested over $400,000 into GMP to fund the start-up operations to date and expects to invest up to $100,000 as additional working capital during the ramp up phase.
About PrestoDoctor:
PrestoDoctor launched in California in the summer of 2015, and has since expanded into Nevada, New York, Oklahoma, Missouri and Pennsylvania. PrestoDoctor has facilitated over a hundred thousand appointments and maintains the highest customer satisfaction rating for any telemedicine service online. PrestoDoctor has over 14,000 5-star reviews, and is the first medical marijuana company to be accepted into the American Telemedicine Association. PrestoDoctor is HIPAA and HITECH compliant. PrestoDoctor plans to continue to expand its services in 2020.
About GK Manufacturing & Packaging:
GK Manufacturing is a Southern California based contract manufacturing, co-packing and white label company, producing a wide range of highest quality, lab-tested CBD products including edibles, tinctures, drinks and topicals. GK specializes in short batch runs, formulation, mixology, graphics/labeling and fulfillment. In--house brands include the well-established Ganja Juice brand (ganja-juice.com),Canna Science, and Murray & Rocco's CBD infused pet line.
Recent CBDS News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/17/2024 04:40:50 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/16/2024 01:56:45 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 05/14/2024 07:26:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:58:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:34:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 07:44:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 07:24:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 06:46:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 06:39:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 06:22:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 05:09:11 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/07/2024 08:05:49 PM
- Form 144/A - Report of proposed sale of securities: [Amend] • Edgar (US Regulatory) • 02/06/2024 08:19:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/01/2024 12:01:39 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 08:08:10 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/14/2023 04:21:57 PM
- Form RW - Registration Withdrawal Request • Edgar (US Regulatory) • 09/05/2023 07:09:35 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/21/2023 04:03:07 PM
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services • HLYK • Aug 16, 2024 8:00 AM
PickleJar Announces Official Name Change and New Ticker Symbol • NREG • Aug 15, 2024 2:23 PM
VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months • VAYK • Aug 15, 2024 9:07 AM
Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting • DRCR • Aug 15, 2024 9:04 AM
Mayback's Global Entertainment Signs Global Distribution Agreement with Children's Media Studio • AHRO • Aug 15, 2024 8:45 AM
POET Technologies Reports Second Quarter 2024 Financial Results • POET • Aug 15, 2024 8:04 AM