American Green (OTC:ERBB) Increases Revenue Projections from $2 Million to Exceed $4 Million in Fiscal Year 2023 The Company is already outperforming previous revenue numbers after its successful renovation PHOENIX, AZ (January 10, 2022) – Today American Green (ERBB:OTC) is guiding anticipated revenue higher for fiscal year 2023. The company is expecting fiscal year 2023 revenue to increase by more than 100 percent over fiscal year 2022 to as much as, or more than $4 million. The company is also expecting to beat year over year first quarter revenue by more than 100%.
American Green’s cannabis harvests have surpassed expectations at its “Sweet Virginia” Cannabis Grow operation in Arizona. All ten cannabis grow rooms are now fully renovated, upgraded, operational and have been harvested successfully. Sweet Virginia is already on its second full round of harvesting in its fully upgraded rooms.
Below are some numbers that our “Sweet Virginia” Grow has produced since implementing new grow management techniques, with its newly installed LED lighting and dehumidifiers.
The harvest from its first upgraded and completely renovated grow Room 8 produced $89,000 in revenue compared to its prior yield of $37,000 in revenue, a 140% increase.
The following table reflects the increases in the first six fully upgraded rooms:
“We are thrilled with our progress at the “Sweet Virginia” Grow since we launched it over three years ago. American Green beat its own revenue expectations. We had hoped that the improved operations, along with the new equipment, would bring an annual revenue an increase of about 50%, up to $3 million. Now that the company has seen what the renovated and upgraded grow can produce in practice, we are pleased to announce that we are revising projections upward even more than we had anticipated. We now see annual revenue rising from previous levels of less than $2 million, to as much as, or more than $4 million. The “Sweet Virginia” Grow previously had nine grow rooms, and now has ten grow rooms that are all renovated with new equipment. The grow operations' electrical system was also upgraded during this renovation," said David G. Gwyther, president.
###
Shareholders and interest holders may sign up for American Green corporate email updates including press releases delivered directly to your inbox. Visit:
American Green, Inc. became, in 2009, America’s second publicly-traded company in the cannabis industry. American Green now, with its more than 50,000 certified beneficial shareholders, is one of the largest (in shareholder count) in the cannabis sector. American Green's mission is to lead the cannabis and premium CBD industry. Leveraging our team of professionals in cultivation management, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives in the cannabis-adjacent and CBD industries, laser-focused on adding company and shareholder value. NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
Contact:
American Green, Inc. 480.443.1600 x555 2902 W. Virginia Ave, Phoenix, AZ 85009 Bullish Bullish
MEMBERS DON'T HAVE TO PROVIDE "PROOF" WHEN OFFERING OPINIONS
THERE IS NO REQUIREMENT FOR MEMBERS TO SUBSTANTIATE THEIR POSTS
VERACITY OF POSTS + CREDIBILITY OF AUTHOR IS DECIDED BY YOU! 4 Likes Tweet ERBB American Green Inc (PK) 0.00085 -0.00005 (-5.56%) Volume: 9,369,221 Day Range: 0.00078 - 0.0009 Bid: 0.0008 Ask: 0.0009 Last Trade Time: 12:58:21 PM EDT Total Trades: 38
1D 1M 3M 6M 1Y 5Y
Chart for American Green Inc (PK) ERBB Detailed Quote Recent ERBB News
American Green (OTC:ERBB) Issues Strategic Corporate Overview • InvestorsHub Cannabis NewsWire • 02/14/2023 12:30:00 PM American Green (OTC:ERBB) Signs $12 Million Dollar Non-Binding Letter of Intent for Funding of its Cypress Chill Cannabis Grow • InvestorsHub NewsWire • 02/07/2023 02:17:52 PM American Green (OTC:ERBB) Receives Equipment Lease Funding for its 40K s.f. Cypress Chill Cannabis Grow • InvestorsHub Cannabis NewsWire • 02/02/2023 12:03:19 PM American Green (OTC:ERBB) Quarterly Cannabis Cultivation Revenue Increased 69% over the same period last year. • InvestorsHub NewsWire • 01/31/2023 12:30:00 PM American Green (OTC:ERBB) Architectural Plans for its 40,000 s.f. Cypress Chill Cannabis Grow are in the Final Review Phase • InvestorsHub NewsWire • 01/12/2023 12:52:28 PM American Green (OTC:ERBB) Architectural Plans for its 40,000 s.f. Cypress Chill Cannabis Grow are in the Final Review Phase • InvestorsHub Cannabis NewsWire • 01/12/2023 12:52:28 PM American Green (OTC:ERBB) Increases Revenue Projections from $2 Million to Exceed $4 Million in Fiscal Year 2023 • InvestorsHub Cannabis NewsWire • 01/10/2023 07:31:35 PM American Green (OTC:ERBB) Cypress Chill Grow Receives its First Cannabis Equipment Order / Two Massive Air Conditioning Chillers Have Arrived • InvestorsHub Cannabis NewsWire • 08/02/2022 11:30:00 AM American Green (OTC:ERBB) Launches its Own Branded Premium Cannabis "Private Reserve" Flower in Arizona • InvestorsHub NewsWire • 07/21/2022 11:30:00 AM
More ERBB News InvestorsHub NewsWire
Famous Ukrainian Refugee Karina Safarova Expresses Gratitude, Safety, and Thriving on Her First Independence Day in the USA Jul 3, 2023 7:53 AM
Game Time Productions Signs Multi-Year Corporate Partnership Agreement with New York Jets • GRNL • Jun 29, 2023 3:10 PM
Movement Industries Corporation Announces Joint Venture Alliance With an Excess of Ten Million Dollar Contract • MVNT • Jun 29, 2023 9:28 AM
Mass Megawatts Announces a New Solar-Power Technology that Boosts Energy Production by More Than 170% • MMMW • Jun 29, 2023 7:40 AM
ILUS Engages Exchange Listing LLC as Capital Market Advisor for National Stock Exchange Listing • ILUS • Jun 28, 2023 9:14 AM
BioRestorative Therapies Receives Unanimous Recommendation from Data Safety Monitoring Board (DSMB) to Continue its Phase 2 Clinical Trial without any Changes • BRTX • Jun 28, 2023 7:00 AM Start posting your company's news Only $200 per official company press release!
