Surna Gross Revenues
Beginning with the third quarter of 2014, the Company will report consolidated financial results combining Surna and Hydro. Surna’s unaudited combined pro forma growth is as follows:
? $380,000 in gross revenues for the three months ended March 31, 2014,
? $996,000 in gross revenues for the six months ended June 30, 2014,
? $1,800,000 in gross revenues estimated for the nine months ended September 30, 2014.
Surna’s Robust Growth: On Plan
“One of the most exciting aspects of the Company’s robust growth is that we have accelerated revenues from the first quarter simply from our existing infrastructure and product offerings,” said Tom Bollich, Surna Chairman and Chief Executive Officer. “Although still operating at a loss, Surna has a tremendous opportunity in front of us with states such as Nevada and Illinois initiating legal sales soon and Washington just beginning to develop its infrastructure. We are successfully executing on an aggressive business plan that calls for investing heavily in people, R&D, technology, products and marketing — to quickly capture a leading share of the incipient but burgeoning North American legal cannabis market.
“This includes the Company’s recent announcement of hiring Todd Whitaker, a veteran design engineer with extensive NASA project experience who joins us as sixth professional in the engineering department,” Mr. Bollich added. “We are focused on creating a technological lead over the rest of the industry so wide that, by the time the industry begins to realize its full potential, our position will have reached a critical mass that dominates the tech side of this business. We now have a sales and marketing department of five savvy professionals complementing the rapid growth of our team, we’ve more than doubled the size of our corporate headquarters and have obtained the support of Newbridge Financial for M&A and financial advisory services. Add to this several patent filings made, or in process, and the products slated for launch throughout 2015, we are blazing the trail with disruptive, high-end, cultivation technology.
“We are confident that with those new products and others in the development pipeline, combined with ramping up our robust multi-channel marketing campaign, that Surna is well-positioned for accelerating financial performance into 2015.
“Both our challenge, and our opportunity,” Mr. Bollich concluded, “Will be keeping up to capitalize on the exponential industry growth over the next few years — which is why we are investing heavily today.”
According to Bloomberg Industries, national legalization has the potential to start a $35 billion to $45 billion a year industry. At that level, the Company noted, cannabis would eclipse the US wine market’s $34.6 billion – which is the world’s largest wine market.
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