Sugarmade
Announces
Calendar Q3
BudCars
Sales
Expected to Hit $11M
Annualized
NEW YORK, July
8,
2020
-- InvestorsHub NewsWire -- Sugarmade,
Inc. (OTCQB:SGMD)
("Sugarmade", "SGMD", or the "Company"),
and its BudCars
Cannabis
Delivery Service ("BudCars"),
is pleased
to provide updated revenue expectations for July and Calendar
Q3 BudCars
performance.
Based on robust growth and underlying data trends witnessed in May
and June, and continued very strong performance underway so far in
July, management
now
forecasts continued month-over-month sequential sales growth of 30%
in July and August, positioning the
Company for
July sales of at least $650K, and a pace lined up
to
close out September with annualized
BudCars
revenues
running at or above $11 million.
Jimmy Chan, CEO of Sugarmade,
noted, "We believe we have enough visibility and
enough data in hand to forecast that we will continue to see
extremely robust growth in July and August. Many of the trends we
saw come together in June to drive our performance remain in place
and suggest new records across many metrics are likely this month
as well."
BudCars saw
improvement
in every major metric during
June, as covered
in detail in the Company's July 1 release. Mutually reinforcing
trends in increasing new customers, strong repeat business,
increasing orders per customer per period, and increasing ticket
sizes continue to define performance thus far in July, suggesting a
high degree of confidence in continued 30% sequential
monthly topline
growth
and the likelihood that the Company will close out its calendar
Q3 with
extremely strong metrics in place heading into year-end.
In addition, Sugarmade continues to focus on further bolstering
future top and bottom-line growth through aggressive expansion and
verticalization plans, including the upcoming opening of its
BudCars
LA
hub and the establishment of inhouse cultivation and product
manufacturing operations at its new 5,000
square-foot indoor premium cannabis cultivation facility located in
very close proximity to its Sacramento BudCars
hub.
About
Sugarmade, Inc.
Sugarmade, Inc. (OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. Our Brand
portfolio includes CarryOutsupplies.com, SugarRush™
and Budcars.com. For more information please reference
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.
Corporate
Contact:
Jimmy Chan
+1-(888)-982-1628
info@Sugarmade.com
Public
Relations:
Tiger Global
Management
info@TigerGMP.com
www.TigerGMP.com