Medical and Recreational
Marijuana Company Kaya Holdings (OTCQB:
KAYS) 10-Q Details Rising Revenues Since Q-1 2017, $1.2M
Increase in Assets since 12/31/16 and an Increase in Institutional
Financing to $7.0M
Fort Lauderdale, FL -- November 21, 2017 -- InvestorsHub
NewsWire -- Kaya Holdings, Inc. (OTCQB:KAYS),
filed its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2017 yesterday afternoon. Highlights of the Q-3 Form
10-Q include the following:
Rising Revenues since Q-1 2017. KAYS reported revenues of
$320,950 for Q-3 2017 as compared with revenues of $199,790
reported in Q-2 2017 and $144,861 reported in Q-1 2017 (Q-3 2017
revenues show an increase in sales of over 50% from Q-2 2017 and
over 100% from Q-1 2017).
Increased Assets Since 12/31/16 Form 10-K. Total assets of KAYS
(cash and equivalents, inventory, prepaid expenses, property,
equipment, land, deposits, etc.) increased to nearly $2.0 million
($1,937,871.00) since the 12/31/16 Form 10-K filing ($710,369),
which comes to an increase of over $1.2mm (approximately 170%).
Increase in 2nd Institutional Financing Agreement to $7 Million.
Since December 30, 2016 we have received $3.35 million in financing
from KAYS' institutional investor through the offer and sale of
convertible promissory notes under a $2.1 million financing
agreement completed in early 2017 and an additional $7.0 million
financing agreement (increased from $5.8 million) originally
entered into in May 2011. In addition to $2.1mm under the initial
agreement, we have received $1.15 mm under the second agreement and
are scheduled to receive an additional $5.85 million under the
second agreement over the next 2 years (subject to market
conditions and other factors).
"The proceeds from the offer and sale of the convertible
promissory notes under the two financing agreements give us the
resources to fund the Company's growth plan, including expansion of
our chain of Kaya Shack Marijuana Superstores in Oregon,
acquisition and development of our Lebanon, Oregon legal cannabis
cultivation and manufacturing facility and the introduction of
Company-owned brands of cannabis products," stated Craig Frank,
KAYS' CEO.
"Total revenues for the nine month period ended September 30,
2017 were $667,661, as compared to $754,093 for the same nine month
period in 2016. However, as noted in our Q-3 Form 10-Q, during the
earlier part of 2017 we were awaiting licensing of 2 of our stores,
which delayed out ability to commence recreational marijuana sales
at those locations. Revenues during Q-3 2017 were in excess of
$100K per month, and we anticipate that revenues will continue to
increase after we open our fourth retail location and initiate home
delivery service," continued Frank. "With our growth plan in place,
including introducing home delivery service and relocating and
expanding our grow and production facility, the Company is taking
steps to broaden its market and increase revenues, while lowering
costs through more in-house production."
Save the Date- KAYS Shareholder Conference Call December 20,
2017, at 2:00 PM EST.
KAYS shareholders and other interested parties are reminded to
sign up for the Kaya Holdings Shareholder Call on Wednesday,
December 20, 2017, at 2:00 P.M. EST. The call is expected to last
between 60-90 minutes. Among the topics to be discussed in the call
are Kaya Shack store performance, new store development, OLCC
licensing update, new brands to be introduced in 2018, an industry
overview and the acquisition of our 26-acre parcel and its
development of the Kaya Farms 100K Square Foot Grow and
Manufacturing Facility.
You may register to participate in and receive updates with
respect to the Shareholder Call by going to our website
at www.kayaholdings.com.
About Kaya Holdings, Inc. (www.kayaholdings.com)
KAYS (OTCQB:KAYS),
through subsidiaries, owns and operates brands that produce,
distribute and/or sell premium cannabis products, including flower,
concentrates and oils, and cannabis-infused foods. In 2014, KAYS,
became the first publicly traded company to own and operate a
Medical Marijuana Dispensary. KAYS presently operates three Kaya
Shack OLCC licensed marijuana retail stores to service the legal
medical and recreational marijuana market in Oregon, with store
number four currently under construction and expected to open in
Q-4 of 2017. Additionally, KAYS recently acquired a 26-acre parcel
which it has targeted for development of the Kaya Farms Medical and
Recreational Marijuana Grow and Manufacturing Complex.
IMPORTANT DISCLOSURE: KAYS is planning execution of its stated
business objectives in accordance with current understanding of
State and Local Laws and Federal Enforcement Policies and
Priorities as it relates to Marijuana (as outlined in the Justice
Department's Cole Memo dated August 29, 2013), and plan to proceed
cautiously with respect to legal and compliance issues. Potential
investors and shareholders are cautioned that AFAI and MJAI will
obtain advice of counsel prior to actualizing any portion of their
business plan (including but not limited to license applications
for the cultivation, distribution or sale of marijuana products,
engaging in said activities or acquiring existing Cannabis
production/sales operations). Advice of counsel with regard to
specific activities of KAYS and MJAI, Federal, State or Local legal
action or changes in Federal Government Policy and/or State and
Local Laws may adversely affect business operations and shareholder
value.
Forward Looking Statements
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words
"believe," "estimate," "project," "expect" or similar expressions.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to,
acceptance of the Company's current and future products and
services in the marketplace, the ability of the Company to develop
effective new products and receive regulatory approvals of such
products, competitive factors, dependence upon third-party vendors,
and other risks detailed in the Company's periodic report filings
with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release.
For more information contact Investor Relations:
954-892-6911