Blue Diamond Ventures Inc (BLDV)

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Management Report Market Overview and Refocus
Blue Diamond Ventures Inc. (BLDV)
CEO Management Report
January 24, 2024
Executive Summary:
BLDV has three operating entities: Harvest 360 LLC (Harvest 360), ICS Consulting Services
LLC (ICS), and Blue Diamond Management Services LLC (Blue Diamond Management). We
are encouraged by our operating companies’ improvement during the first three quarters of
2023 relative to the same period in 2022. The third quarter revenue, year over year, increased
by over 40% and the operating loss, year over year, decreased by 25%.
Market Overview:
During the fourth quarter of 2023 and ongoing, the cannabis industry experienced head-winds.
According to MjBizCon growth in new markets (3-4 years old) was slower in 2023 due to
economic turmoil compared to the pace of growth in previous years for similarly-aged markets.
This decline was driven in part by increased competition, decreased investment, and lower
product prices. These pressures impact the cannabis ancillary service space as well. BLDV is
proactively responding to these challenges by refocusing our operating entities to address the
needs of the marketplace.
Refocus:
Harvest 360 and Blue Diamond Management will demphasize cannabis license application
sales and focus more on comprehensive startup services and business management. ICS will
expand our traditional general compliance and audit offerings to include without limitation worker
safety training, quality control management, and seed to sale system implementation. In
addition, we will implement improved internal data collection systems across all operating
entities to deliver better customer insights.
Conclusion:
This refocus across operating entities will fortify our position in the market and create value for
both our clients and shareholders. While the industry presents challenges, we are positioned for
growth and adaptability in the ever-evolving cannabis landscape. We remain committed to
delivering long-term shareholder value and navigating the industry downturn with resilience and
innovation.
Disclosure Regarding Forward-Looking Statements:
Please note that this management report may contain forward-looking statements. These
statements are based on our current expectations and projections and involve risks and
uncertainties that may cause actual results to differ materially from those expressed or implied
in these statements. We undertake no obligation to update any forward-looking statements.
Yale Peebles - CEO - Blue Diamond Ventures Inc. (BLDV
https://www.otcmarkets.com/otcapi/company/financial-report/390975/content
https://www.otcmarkets.com/stock/BLDV/disclosure