Ahead of LA
NEW YORK, May
-- InvestorsHub NewsWire -- Sugarmade,
("Sugarmade", "SGMD", or the "Company"),
Delivery Service ("BudCars"),
excited to announce record
growth data for BudCars
during the month of April, with sales growing 58% on a sequential
monthly basis over March sales on an average daily volume basis. In
addition, data for the month of May already show
a strong continuation
of that trend,
with May sales on pace to add another 16% over and above the strong
breakout sales trend seen in April.
"We did about $6,000 per day in sales in March and over $9,500 per
day in April, representing a very robust growth trend
our Sacramento hub,"
Chan, CEO of Sugarmade. "May
is already off and running at better than $11,000 per day,
demonstrating continued dramatic growth. And
per day figure
represents activity in only one area. With our
set to come
the start of summer,
with the unprecedented stay-at-home
extension in that region, we
believe our daily sales in the LA area could triple that
Management notes that the California cannabis market is beginning
to run into widespread shortages as demand surges over recent
weeks. The Company wishes to assure shareholders that it has
extremely strong supplier relationships and sees
of any issues in securing forward product inventories. Furthermore,
as the Company's competitors run into potential issues in securing
their own inventory for distribution, management believes
market share gains, providing another potential driver
near-term sales growth.
In addition, the Company continues to make strong strides toward
the opening of its first Los Angeles hub, which should
news out this week that Los Angeles County plans to extend its
Stay-at-Home order through the month of July, the Company
its new LA
ramps up given the extra demand for delivery services that has
accompanied stay-at-home conditions around the state.
Chan continued, "We are starting to see a market context where
supplier relationships matter more than just about anything else,
which plays to our strengths. Demand growth continues to be off the
charts across the California cannabis market, and producers are
struggling to keep up. Those trends are pairing up with both
structural and situational forces to provide a huge tailwind
In addition, we remain on schedule for a July launch for
Angeles, which will conservatively add another $20 million in
annualized sales on the top line."
Sugarmade, Inc. (OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. Our Brand
portfolio includes CarryOutsupplies.com, SugarRush™
and Budcars.com. For more information please reference
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