RETURNS TO THE OTCQB AS FULLY
REPORTING-CEO COMMENTS ON GROWTH
Monrovia, CA --
August 8, 2018 --
InvestorsHub NewsWire -- Sugarmade,
Inc. (OTC:SGMD), one of the largest
publicly traded cannabis-related hydroponics supply
companies returns to the OTCQB
Venture Market trading venue as a fully reporting company with the
U.S. Securities & Exchange Commission. Additionally, the
Company makes comments
relative to the strong
is experiencing within the cannabis
revenue growth to at least $30 million for 2019, with
and positive operating
cash flow. For the most recently reported quarter, the Company
reported revenues of just under $3 million, representing a
sequential revenue increase of approximately 215% and a year over
year revenue increase of approximately 228%. The Company is
expecting additional revenue
over the coming quarters due to a significant increase in the
number of products being offered for
sale and due to
momentum in cannabis
cultivation in California and other U.S. states where legalization
Jimmy Chan, CEO of
Sugarmade commented, "We are very proud of
the growth we are realizing. A year ago we had a staff of 22 packed
office and warehouse. We have now grown our staff to more than 45,
with additional staff member
recruitment underway, and our
office and warehouse space has increased by more than 300%. Our new
facility in Monrovia, Ca, will allow us to grow our revenue to our
stated objective of at least $30 million for next year.
All of us
at Sugarmade thank our valued shareholders for all the support
provided as we grow our organization to address what we believe is
one of the most exciting business marketplaces seen over the past
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
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.
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.