USMJ Reports Q2 2017 Earnings With 40 Percent Revenue Increase And 56 Percent Gross Margin Increase
February 22 2017 - 8:29AM
InvestorsHub NewsWire
Dallas, TX
-- February 22, 2017 -- InvestorsHub NewsWire -- North
American Cannabis Holdings, (USOTC:USMJ)
more frequently know today by its ticker symbol, USMJ, today
announced filing its 2017 second fiscal quarter (Q2 2017) financial
report for the period ending December 31, 2016. The Company
reported an increase of 40% in revenue to $193,000 compared to the
same period the previous year and an increase of 56% in gross
margin to $110,000. Notably, the Company’s operations are
reaching breakeven reporting a net margin loss of only $78 for the
quarter.
USMJ is developing a variety of cannabis enterprises. The
majority of revenue is generated by USMJ’s ongoing development of a
cannabis concept restaurant, The AmeriCanna Cafe. The concept
cannabis restaurant is developing from the Company’s experience
operating a sport fitness and wellness restaurant. The
increase in revenue reported today has been generated through the
sales of new sports and fitness supplements the Company is
currently piloting. The Company is also developing cannabis
pilot projects separate from its AmeriCanna Cafe concept
restaurant.
To learn more about North American
Cannabis Holdings: www.growusmj.com
Follow the Company on
Twitter: twitter.com/US_HEMP
This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and as such, may involve risks and uncertainties. These forward
looking statements relate to, amongst other things, current
expectation of the business environment in which the company
operates, potential future performance, projections of future
performance and the perceived opportunities in the market. The
company's actual performance, results and achievements may differ
materially from the expressed or implied in such forward-looking
statements as a result of a wide range of factors.
USMJ Contact:
Steven Rash
Phone: +1-972-528-0162
North American Cannabis (CE) (USOTC:USMJ)
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