Offer Revenue Guidance on March 30th for Rapid Cannabis Sector Growth - Begins to Recognize Revenues From Multiple New Revenu...
March 20 2018 - 8:30AM
InvestorsHub NewsWire
Offer Revenue Guidance on March 30th for Rapid
Cannabis Sector Growth – Begins to Recognize Revenues From Multiple
New Revenue Streams
City of Industry, CA -- March
20, 2018 -- InvestorsHub NewsWire -- Sugarmade, Inc. (OTC:SGMD) one of the largest
publicly traded cannabis-related hydroponics supply companies,
today announces a significant milestone for the Company with the
beginning of revenue recognition relating to its master marketing
agreement with cannabis cultivation and hydroponic supplier,
BizRight Hydroponics, Inc.
The Company is now
recognizing revenue under this new agreement with the month of
April expected to be the first full month of reporting.
Sugarmade expects to see rapid growth in realized revenues
throughout the June quarter and throughout fiscal 2018.
Jimmy Chan,
Sugarmade CEO commented, “Preparing to grow a company at a rate in
excess of that of the hyper-growing cannabis marketplace has taken
a significant amount of planning. I am happy to report we
have now implemented the critical components of our internal
systems, installed a very talented pool of individuals, and
meaningfully enhanced our financial reporting and controls,
allowing us to begin booking revenues from multiple new revenue
streams, most of which are directly related to cannabis
cultivation. Sugarmade has now completed its 2017 audit and
financial reporting, freeing its staff to soon report the two
completed quarters of fiscal 2018. For the foreseeable
future, we expect to see revenue growth rates well in excess of the
overall cannabis marketplace. We will be outlining these
expectations after the market closes on March
30th.”
The rapid growth in
cannabis cultivation is expected to drive Sugarmade’s revenue
growth for the next few years as more California State’s licenses
are approved and additional States open up to medical and
recreational cultivation and usage of cannabis. While the
California and other West Coast marketplaces are driving a
meaningful portion of the Company’s growth, revenue growth is being
realized from almost all regions within the United States and
Canada.
About Sugarmade,
Inc. (OTC:SGMD)
Sugarmade, Inc. is
a product and brand marketing company investing in products and
brands with disruptive potential. Sugarmade's brands
include ZenHydro.com, CarryOutSupplies.com, BudLife™
Cannabis Storage Solutions, CaliGrownSupplies.com, and
Sriracha Seasoning Stix, a revolutionary culinary seasoning
product. For more information on the Company's products, please
visit http://www.Sugarmade.com.
FORWARD-LOOKING
STATEMENTS: This release contains "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements also may be included in other publicly available
documents issued by the Company and in oral statements made by our
officers and representatives from time to time. These
forward-looking statements are intended to provide management's
current expectations or plans for our future operating and
financial performance, based on assumptions currently believed to
be valid. They can be identified by the use of words such as
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance. Examples of forward looking statements
include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance.
Because
forward-looking statements relate to the future, they are subject
to inherent risks, uncertainties and other factors that may cause
the Company's actual results and financial condition to differ
materially from those expressed or implied in the forward-looking
statements. Such risks, uncertainties and other factors include,
among others such as, but not limited to economic conditions,
changes in the laws or regulations, demand for products and
services of the company, the effects of competition and other
factors that could cause actual results to differ materially from
those projected or represented in the forward looking
statements.
Any forward-looking
information provided in this release should be considered with
these factors in mind. We assume no obligation to update any
forward-looking statements contained in this report.
For inquiries
please contact
Jimmy Chan
+1(888) 982-1628
info@Sugarmade.com
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