USMJ Announces First Profitable QTR Reporting $530K YTD Sales With QTRLY Revenue Up 41% And Gross Profit Up 53%
May 18 2017 - 8:50AM
InvestorsHub NewsWire
Dallas, Tx – May 18, 2017
– North American Cannabis Holdings, Inc. (USOTC: USMJ) has
published an online on demand earnings presentation reviewing the
Company’s third quarter financial report. In addition to a
review of the most recent financial results, the report includes
details about the pending transaction with American Cannabis
Innovations Conglomerated with specific mention that USMJ stock
will remain listed on the OTC Markets and will not be subject to a
reverse split. The report also includes details about the
next developments for the AmeriCanna Cafe, and the American Seed
& Oil Company.
USMJ Q3 2017 Financial Performance Executive
Summary
North American Cannabis Holdings’ (“USMJ”) fiscal year end is June
30th. USMJ just released its third quarter
financial report for the period ending March 31, 2017.
Management is pleased to report year-to-date sales for the three
quarters ending March 31, 2017 of $530,000. The revenue for
the first three quarters of 2017 exceeds the total revenue of
$515,000 reported for the entire year of 2016. The 2017
year-to-date gross profit of $292,000 also exceeds the total gross
profit of $276,000 for the entire year of 2016. The revenue
for the first three quarters of 2017 is up 40% over the revenue for
the first three quarters of 2016. The 2017 third quarter revenue of
$205,000 is up 41% over the 2016 third quarter revenue of
$145,000. The 2017 third quarter gross profit of $117,000 is
up 53% over the 2016 third quarter gross profit of $41,000.
Notably, USMJ posted its first profit since entering the cannabis
sector in 2013. The profit of $7,000 is small, but
nevertheless a substantial milestone lending credibility to the
Company’s long-term viability.
SEE THE ENTIRE USMJ Q3 EARNINGS REPORT
Learn More About
USMJ:
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.
North American Cannabis Holdings Contact:
Steven Rash
Phone: +1-972-528-0162
Email: Info@growusmj.com
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