Sugarmade Inc (SGMD)

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I personally don't believe Jimmy exercises Budcars option anytime soon, if ever, but looks like Jimmy is including Budcars operations per VIE status in financials, which frankly was a surprise to me..and should be a pleasant surprise to shareholders imo..

Per SGMD financials:

"Sugarmade, Inc. and Subsidiary

Notes to Unaudited Condensed Consolidated Financial Statements

September 30, 2020

Presented below are condensed financial position data and operating results of the Indigo’s business segments for the period ended September 30, 2020.

As of September 30, 2020
Current Assets $ 935,593
Non-Current Assets 257,060
Total Assets 1,192,653

Total Liabilities 623,123
Total Equity 569,530
Total Liabilities & Equity $1,192,653


Revenues 1,571,356
Cost of Goods Sold (647,467)
Gross Profit 923,896

Expenses (921,954)

Net Income $ 1,942

"As an investor in the Budcars licensed cannabis delivery service brand (“Budcars” or the “Budcars Brand”) and as a joint owner and joint operator in Budcar’s first operating location in Sacramento, California. During early 2020, the Company gained a 40% stake in the Budcars Brand and in the Sacramento delivery operations via acquiring a 40% stake in Indigo Dye Group (“Indigo”). Under the terms of the agreement with Indigo, Sugarmade acquired an option to purchase an additional 30% interest in Budcars, upon which will provide the Company with a controlling interest. As of the date of this filing, the option has not yet been exercised and the Company’s stake in Budcars is at 40%."

gltu