Freedom Leaf, Inc. Reports Third Quarter Results: Reduced Notes
Payable, Reduced Non-Current Liabilities, and Increased Total
Company Assets
FRLF Anticipates That Q-4 Revenues Will be in Excess of
$400,000
Las Vegas, NV -- July 03, 2018 -- InvestorsHub NewsWire
-- Freedom Leaf, Inc. (OTCQB: FRLF), last Friday
filed its fiscal Q3 results conforming to G.A.A.P reporting
standards.
Freedom Leaf, Inc.’s Chief Financial Officer, Richard Groberg,
highlighted the following key takeaways from the Q3 report, between
June 30, 2017 and March 31, 2018:
- Total Company Assets increased 28%
- Notes Payable were reduced from $258,753 to $0
- Non-Current Liabilities declined 34%
- Stockholder’s Equity increased 126%
Clifford J Perry, CEO & Co-Founder of Freedom Leaf, Inc.,
remarked: “Over the last two quarters, we have been
concentrating on cleaning up the balance sheet, reducing debt and
increasing assets in preparation for our anticipated acquisitions
and their resulting revenue growth.”
Perry continued, “Marketing and advertising operations for
online and retail sales were launched for multiple product lines,
creating framework for significant revenue generation. The Company
anticipates total revenue for the quarter ended June 30, 2018 to be
greater than $400,000.”
Freedom Leaf, Inc. management has also been focused on strategic
international growth, as detailed by FRLF’s recent purchase of
the Valencia Greenhouse property:
On May 17, 2018, The Company concluded a contract to acquire a
430,000 sq. ft. cultivation greenhouse in Valencia, Spain, equipped
with light deprivation systems, hydroponic infrastructure and
automated irrigation & nutrient dispersion systems. This
property puts Freedom Leaf, Inc. in the perfect position to
capitalize on the enormous European demand for high-quality hemp
products.
The Company incurred no dilution to acquire the new hemp
greenhouse operation, as the previous owner financed the purchase
with: nothing down; €20,000 a month for two years interest
free; €100,000 a month plus the interest at 5% for the next
36 months, and the small remaining balance due thereafter.
Management anticipates that cash flow from this operation will
cover this debt service and result in significant
revenue.
Contracts for the purchase of the current crop of Hemp Flower
are being sold now with a minimum of 10% deposit and 5% each month
with the final payment upon delivery. It is expected that
revenue for the current crop will be in excess of €995,000. The
crop was planted in June, will be harvested in September and
delivered in October.
Listen to Freedom Leaf, Inc. CEO, Clifford J Perry, on a
recent Stock Day and Uptick Newswire radio show.
Visit the Freedom Leaf Inc., message board
on: https://investorshangout.com/
About Freedom Leaf, Inc.®
Freedom Leaf,
Inc. (OTCQB: FRLF) is a group of
diversified, international, vertically-integrated hemp businesses
concentrating on health, wellness, and education as well as
cannabis media companies. Freedom Leaf, Inc. is a fully-reporting
and audited publicly-traded company under the symbol
(OTCQB: FRLF). Freedom Leaf, Inc. has been a leading go-to
resource in the cannabis, medical marijuana and industrial hemp
industries since 2014, founded by professionals with over 200 years
combined experience in marijuana legalization advocacy. FRLF is
building a diverse portfolio of valuable businesses through
strategic mergers, acquisitions, and acceleration projects across
the industry.
FRLF’s large portfolio of acquisitions and properties includes:
our recently acquired full spectrum hemp oil product line
- Irie CBD; our wholly-owned hemp extraction division
- Leafceuticals, Inc.; our exclusive health and wellness full
spectrum hemp oil brand - Hempology, our just-acquired indoor
hemp greenhouse in Valencia, Spain for the cultivation of Hemp; our
hemp-based rolling paper company - Plants to Paper; two of the
largest Spanish-speaking cannabis web portals in the world
- LaMarihuana.com and Marihuana-Medicinal.com, and
of course our flagship publication - Freedom Leaf
Magazine.
Utilizing these mergers and acquisitions, Freedom Leaf, Inc. is
continually building a solid foundation for our
vertically-integrated hemp company to maximize both revenue growth,
and net profit, which will increase our shareholders value. Our
cultivation and extraction divisions allow FRLF to grow and source
our own hemp CBD, which allows dramatically lower production costs
for our wholly-owned CBD product lines, thereby generating more
revenue for each product sold. We formulate and manufacture the
majority of our products in our own in-house formulation centers,
also greatly reducing our costs and increasing revenue. In
addition, our extensive domestic and international media companies
ensure we can continuously direct traffic to our many ecommerce
sites and nationwide retail locations.
Freedom Leaf, Inc. also sells licenses to use the Freedom Leaf
brand in different countries and states across the globe. We have
entered into three license agreements: for Spain and Portugal, for
The Netherlands, and for Southern California.
Freedom Leaf, Inc. does not handle, grow, sell, or
dispense marijuana or related products
All of our European activities are in full compliance
with relevant EU laws.
Investor relations information can be found on
the FreedomLeafInc.com company
website.
Safe Harbor Statement
This news release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “believe,” “expect,” “may,”
“will,” “should,” “could,” “seek,” “intend,” “plan,” “goal,”
“estimate,” “anticipate” or other comparable terms. All statements
other than statements of historical facts included in this news
release regarding our strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to successfully
market our products and services; the acceptance of our products
and services by customers; our continued ability to pay operating
costs and ability to meet demand for our products and services; the
amount and nature of competition from other media and
cannabis/hemp-related products and services; the effects of changes
in laws governing the cannabis and hemp industries; our ability to
successfully develop and sell new products and services; our
success establishing and maintaining industry relationships,
licensing and supplier arrangements; our ability to comply with
applicable regulations; and the other risks and uncertainties
described in our prior filings with the Securities and Exchange
Commission. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Contact:Raymond Medeiros PR and Business Development Director Phone: 415-601-1974 ray@freedomleaf.com Freedom Leaf, Inc.