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GrowGeneration Corp (NASDAQ: GRWG) Reports $125.9 Million Revenue in Q2 F21

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GrowGeneration Corp (NASDAQ: GRWG) is a vast chain of organic garden and specialty hydroponic facilities with fifty-eight centers across twelve states, which recently announced record revenue of $125.9 million in Q2 F21. This was way more than the $43.5 million they recorded in the same quarter of the previous fiscal year. GrowGeneration also reported a record pre-tax GAAP net income of roughly $9.6 million in the same quarter, more than the $2.7 million they had in the same quarter of the previous fiscal year. In addition, they recorded a $0.11 diluted earnings per/share, tax expense included in the same quarter.

Senior Management

The company’s Chief Executive Officer and Co-Founder, Darren Lampert, said that GrowGeneration’s team managed to deliver an exceptionally robust second quarter, with a 190% increase in revenues compared to what they recorded in the same quarter of the previous financial year. The entire company managed to bring in more revenue in Q1 F21 than it did the whole of the last financial year. The CEO said that they closed twelve acquisitions this financial year, adding a total of twenty hydroponic retail sites, bringing the company’s capacity to fifty-eight. He further claimed that their ability to both buy and attract the country’s largest hydroponic operators was again evident when they signed the nation’s third-largest hydroponic operator, HGS Hydro. It looks like the strategies that were implemented by the company many quarters ago are starting to help boost margins.

Mr. Lampert said that they increased their inventory positions in all the key product sectors so that they could be well-prepared for price increases. The company also expanded its private-label purchases. He claimed that their proprietary and private-label products now make up roughly 7% of their overall sales. He said that he was both encouraged and proud with their gross profit margin, which happened despite container cost increases, supply chain interruptions, and port delays.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

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AXIM Biotechnologies Inc (OTCMKTS: AXIM) Announces Appointment of New Chief Medical Officer

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AXIM Biotechnologies Inc (OTCMKTS: AXIM) has announced the hiring of Joseph Tauber as the Chairman of the Medical Advisory Board and its chief medical officer.

Dr. Tauber has vast experience as an ophthalmologist

Dr Taube, an ophthalmologist, is recognized internationally as an expert on ocular surface diseases like meibomitis and dry eye. He has extensive experience as a consultant to global health products and a researcher on clinical trials. The doctor has served on many other scientific advisory boards. He has also been an ophthalmology representative at institutional conferences.

According to John W. Huemoeller, the CEO of Axim Tauber is a leading authority on eye diseases. He has also done extensive research on the diagnosis, causes as treatment of dry eye disease (DED).

Huemoeller adds that Axim’s plans to develop a diagnostic company that can help physicians make a faster and improved diagnosis of DED. The company is pleased to have Dr. Tauber on the team to help them realize this dream and become leaders in the DED market.

Dr. Tauber is the CEO and founder of the Tauber Eye Centre. The practice focuses on ocular immunology, uveitis and corneal disease. It is also the country’s third-biggest eye bank.

The doctor has been part of various DED projects in the last 25 years.

Tauber has also been the principal investigator in more than 140 clinical trials. Some of his most successful trials have led to the approval of medication for the treatment of DED. These medications include Eyesuvis, Restasis, Cequa and Xiidra.

Dr. Tauber has also been the principal investigator in other eye diseases, including corneal infectious diseases, allergic eyes diseases, inflammation, ocular surface conditions, and corneal transplantation.

Dr. Tauber education

Dr. Tauber got his doctorate from Harvard Medical School. He trained for his residency in internal medicine at the Beth Israel Hospital. His residency for ophthalmology was at Tufts-new England Medical Center.

It was at the Massachusetts Eye and Ear Infirmary, Boston, that the doctor did his fellowship training n Ocular Immunology. 

Dr. Tauber has written more than 80 articles in ocular surface and immunologic disease for prominent medical journals like the Journal of Cataract and Refractive Surgery and Cornea.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Indiva Ltd (OTCMKTS: NDVAF) Will Introduce Warrant Exercise Incentive Program

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Indiva Ltd (OTCMKTS: NDVAF) has announced that it will introduce its warrant exercise incentive program soon. The program aims to exercise outstanding purchase warrants for more than 17 million common shares. 

Information about the exercise

Under the terms and conditions of the incentive program, the holder will receive one-half of one newly issued common share purchase warrant at no extra cost. However, as per the rules, the Warrant must be exercised on or before October 12, 2021. Furthermore, it is learned that every incentive warrant is exercisable into one common share for five years from the date of its issue at an exercise price of $0.45. If all the company’s warrants are exercised, the company can fetch gross proceeds of more than $6 million. However, there is no guarantee that all or any of the warrants will be exercised. 

Registered holders of the warrants will receive an intimation letter 

One of the essential aspects of the incentive program includes the method of exercising the warrants. The same will be drafted into a letter delivered to the respectively registered holders of the warrants. There is a time frame for the expiry of the early exercise period. It has come to light that those warrants that are not exercised before the expiry of the early exercise period, they will be considered outstanding regarding their original terms. Furthermore, they will not qualify for issuing incentive warrants. It has come to understood that a section of insiders of the company, who hold a portion of the warrants, are eligible to participate in the incentive program. The group is free from the formal valuation requirement related to subsections 5.5(a) and (b) of MI 61-101 and from the minority approval requirement legal document to subsection 5.7(1)(a) of MI 61-101.

Necessary regulatory approvals bind the incentive program; one of them includes receiving the nod of the TSX Venture Exchange. Indiva Ltd is one of the leading Canadian licensed producers. The group is involved in producing and distributing an award-winning range of cannabis products. 

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Bhang Inc (OTCMKTS: BHNGF) Partners With Belushi’s Farm and Blues Brothers

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Bhang Inc (OTCMKTS: BHNGF) announced that it has officially joined hands with Belushi’s Farm and Blues Brothers. The CPG brand company has inked a letter of intent with Jim Belushi’s licensing company, Green Globe Data & Research LLC, GreenGlobe. Co-branded Bhang x Blues Brothers chocolates will be introduced into the market, thanks to the partnership. 

Comments pour in from the parties who are involved in the partnership

Stating that the team is excited about the partnership, Jim Belushi conveyed that Jamie and her team have mastered the art of innovation and lead when sharing the happiness that cannabis gives. Meanwhile, Jamie L. Pearson, Bhang President, and CEO stated that Bhang Inc aims to make what can be enjoyed the fun. Pearson said that working with Belushi was fun; she added that developing cannabis products with their team was an honor. While Belushi is passionate about cannabis and leaves no stone unturned to put quality first, the President and CEO of Bhang Inc concluded by stating that the two teams shared the same wavelength. 

Information about the terms of the agreement

In the letter of intent signed on May 21, 2021, the terms of the agreement were scripted. According to the agreed terms, revenue generated through royalty will be shared as a 50:50 ratio. The same holds good during the debut product launch, which is scheduled to take place during 3Q 2021. Under the terms and conditions of the inked agreement, Bhang Inc will have to develop three additional edible products for GreenGlobe. It is learned that the products will become the intellectual property of GreenGlobe. Furthermore, the royalty will be split 80:20 ratio in favor of GreenGlobe.

Bhang Inc will issue to GreenGlobe 1.5 million subordinate voting shares. The shares will be valued at the market price at the time of closing the definitive agreements. Along with this, the group will provide GreenGlobe up to 12 million warrants, allowing it to purchase subordinate voting shares. 

The product portfolio of Bhang Inc includes more than 50 master-chef-created cannabis CBD and terpene products. The chocolates manufactured by the group are in the highly-awarded category. They are regarded as one of the best-selling edibles in as many as seven states in the U.S.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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