REITERATES $30 MM REVENUE
GUIDANCE WITHIN CANNABIS MARKETPLACE
- FILES QUARTERLY
City of Industry, CA
-- July 18,
2018 -- InvestorsHub
NewsWire -- Sugarmade,
SGMD), one of the largest publicly traded
cannabis-related hydroponics supply
companies, reiterates its $30
million revenue guidance for next
after filing results for
fiscal Q2 2018. Additionally,
the Company is
announcing today the
termination of its culinary
business line in order to increase
emphasis on its
on a strong growth trajectory, which is expected
to allow the Company to produce revenue of
million for the fiscal year ending 2019,
annual growth of
500%. The aggressive growth rate is
being driving by rapid
expansion within the
marketplace, in particular the cannabis cultivation
where a majority of the Company's products are
"Over the past year,
we have significantly enhanced our operational staff and our
internal systems preparing for our rapid growth. With these
changes, we believe we are optimally sized, but we want to
ensure we are able to manage our aggressively
planned growth rate.
To this end, we have
determined our culinary products are
no longer strategic to our goals and thus we are terminating the
marketing of these products in order to increase our focus on our
highest growth product areas, which is the
cultivation-related cannabis sector," commented, Jimmy
Chan, CEO of Sugarmade.
filed its financials for its fiscal Q2 of 2017, with the Company
planning on filing its remaining outstanding fiscal quarter over
the very short term, thus
restoring the Company to fully
reporting status. Mr. Chan continued, "We believe our growth
induced reporting challenges are now over allowing this management
team to demonstrate to our investors the aggressive growth we
already realizing and expect to report over the near
About Sugarmade, Inc.
Sugarmade, Inc. is a
product and brand marketing company investing in products and
brands with disruptive potential. Sugarmade's
include ZenHydro.com, CarryOutSupplies.com, and
Storage Solutions. For more information
on the Company's products, please visit http://www.Sugarmade.com.
For inquiries please
contact Jimmy Chan at (888) 982-1628 or info@Sugarmade.com.
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
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
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
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.