USMJ Prepares For $10 Million In Potential 2020 eCommerce Sales And Readies Acquisition Initiative
November 26 2019 - 9:26AM
InvestorsHub NewsWire
USMJ Prepares For $10 Million In
Potential 2020 eCommerce Sales And Readies Acquisition
Initiative
Dallas, TX -- November 26, 2019 --
InvestorsHub NewsWire -- North American Cannabis Holdings, Inc.
(USOTC:
USMJ) (“USMJ”) today published a financial update that follows
the recent filing of its quarterly financial report for the period
ending September 30, 2019. The update highlights important
financial performance, offers insight into projected 2020 growth
anticipated from company’s eCommerce business introduced earlier
this year, and introduced a timely acquisition initiative intended
to seize consolidation opportunities presented by the prevailing
cannabis market.
The most recent periodic financial report
published by USMJ for the period ending September 30, 2019 reflects
stability from its underlying cannabis logistics operations
originally constructed around the company’s pilot cannabis retail
concession operations. The financials similarly reflect
growth that management attributes primarily to its new cannabis
market eCommerce business introduced earlier this year
(www.USMJ.com). USMJ reported twenty-eight
percent (28%) revenue growth in the fiscal quarter ending September
30, 2019 compared to the same period in the previous year.
The company’s current annualized revenue run rate is over a million
dollars reporting $287,440 for the fiscal quarter ending September
30, 2019. The company reported a net profit of twenty-two
(22%) at $62,087.
The eCommerce site has been designed to
build a branded global online retail outlet to serve a future
universally legal recreational cannabis marketplace. USMJ
introduced its eCommerce business earlier this year first selling
products primarily from companies it has historically partnered
with closely. In response to hands-on experience, the company
has refined its eCommerce technology as well as its back-office
logistics and fulfillment operations, and begun to expand its
inventory of products beyond those from just close partners.
USMJ is now aggressively expanding its inventory of products and
correspondingly anticipates rapid sales growth in 2020 built on the
experience garnered in 2019.
USMJ also continues to invest in building
the USMJ brand name. While the bulk of its currently
available eCommerce inventory centers around CBD from hemp which is
federally legal, the company is preparing for the inevitable
federal legalization of recreational marijuana. With the company’s
ongoing investment in the USMJ brand name, once recreational
marijuana is made federally legal, the company anticipates even
more rapid growth from the introduction of recreational marijuana
products.
With USMJ’s current eCommerce sales
centered on CBD from hemp products, management believes $10 million
in revenue is possible within the 2020 calendar year.
Management is taking a conservatively optimistic approach to
setting a revenue target for the 2020 calendar year and plans to
first review the financial performance of the first calendar
quarter of 2020 before setting a firm target for the balance of
2020.
Cannabis business valuations have
struggled for much of 2019. USMJ management believes the
prevailing valuations are not unusual for the current stage of
development of a relatively new industry. The future of the
cannabis sector remains unclear. While universal recreational
legalization is highly likely, the timing and the course from here
to there is still speculative. The market is likely waiting
for the next major regulatory step toward universal legalization
before experiencing another rally. In the meantime, the
lackluster valuations present a consolidation opportunity and USMJ
management is putting together a game plan to seize this
consolidation opportunity. The first potential acquisition
targets will likely be companies with which longtime USMJ
shareholders will be familiar. Look for more news on USMJ’s
acquisition initiative coming soon.
To learn more
visit www.USMJ.com
and www.GrowUSMJ.com.
Disclaimer/Safe
Harbor:
This news
release contains forward-looking statements within the meaning of
the Securities Litigation Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include the
expectation that any of the companies mentioned herein will achieve
significant sales, the failure to meet schedule or performance
requirements of the companies' contracts, the companies' liquidity
position, the companies' ability to obtain new contracts, the
emergence of competitors with greater financial resources and the
impact of competitive pricing. In the light of these uncertainties,
the forward-looking events referred to in this release might not
occur. These statements have not been evaluated by the Food and
Drug Administration. These products are not intended to diagnose,
treat, cure, or prevent any
disease.
Steven Rash
CEO
North American Cannabis Holdings, Inc.
info@aciconglomerated.com
+1-800-861-1350
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