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CBD CONDITIONS & TREATMENTS

Marijuana Company Of America Inc (OTCMKTS:MCOA) Reports Revenue Growth of 504% YOY In Its Q1 2019 Financials

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Revenue Grows Exponentially

Marijuana Company Of America Inc (OTCMKTS:MCOA) generated $114,810 in revenue for the Q1 2019 ended March 31, 2019 representing a 504% increase from last year’s $19,010 for the same quarter. According to the company, the revenue growth was pushed by increased demand and sales subsequently for its proprietary hempSMART products.

Gross profits for the fiscal quarter jumped to $74,932 compared to the previous year’s meager $8,564. The gap in YOY gross revenue inspired a positive shift in gross margins to 65.3% from last year’s 45%.

Operating Expenses Surge

However, the company’s operating expenses ballooned over three times YOY to $989,037. Same period last year the company posted operating expenses of $302, 872. The drastic increase is credited to increased SG & A associated with MCOA’s rapid growth and related activities. Net loss remained constant YOY with last year’s figure thought to have been influenced by substantial gain in derivatives.

During the recently concluded quarter, the company cut down on its expenditure of cash from operations to $207,098 from an alarming $497, 250 the same quarter, 2018. Another positive shift witnessed in the quarter ended March 31 is an increase in total assets. The report indicates a positive YOY increase of 12% to $2,143,188 from $1,919,782. This is as a result of increase in inventory, cash and long-term strategic investments made during the quarter.

The liability column also increased to $8,087,340 from last year’s $5,058,887 for the same fiscal quarter. The increase is as a result of increased derivative liabilities by a whopping $2.7 million including convertible notes given out during the recently concluded quarter.

Highlights of the Q1 2019

Among the highlights of the Q1 2019 period is the successful prelaunch of the company’s hempSMART Brain ™ in UK. The report also discloses that the company’s Scio, Oregon project is ongoing, same goes with the renewal process of its 2019 hemp cultivation license.

Another milestone made by the company during the previous quarter is signing a LOI with California’s Natural Plant Extract to jointly operate Viva Buds™ -a cannabis delivery service. The two partners finalized the agreement in April, 2019.

CBD CONDITIONS & TREATMENTS

Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Signs An Accord To Become A Supplier Of Vaporizable Products To Pax Era In Canada

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) has entered a pact to supply vaporizable products in Canada. Supreme Cannabis joined hands with Pax Labs to enter the vaporizer market in Canada with their proven brands.

7Acres to supply cannabis oil pods

Pax has selected 7Acres, a wholly owned subsidiary of Supreme Cannabis, to supply cannabis oil pods for Pax Era. The company already sold more than 1.5 million devices across the world. It is one of the reputed firms to supply pen and pod systems in the US. The proven brand development ability of Supreme Cannabis along with high quality cannabis flower provides a unique opportunity in the market. The alliance with Pax will improve the growth of vaporizer products.

Chief Executive Officer of Supreme Cannabis, Navdeep Dhaliwal said the company is pleased to partner with Pax to offer excellent vaporizing experience to the customers. 7Acres will supply oils extracted from cannabis flower for Pax Era, the premium vaporizer, in North America.

Navdeep further said 7Acres has established itself as a leader in the supply of premium quality cannabis flower on a large scale in Canada. The company is now expanding the Canada brand into innovative product categories.  It will maintain the same quality to the valued customers. The company is excited to work PAX to offer premium brand experience to the customers on Pax Era platform.

Sells vaporizer oil in Era-compatible pods

As per the terms of the accord, the company will sell vaporizer oil under the 7Acres brand in Era compatible pods. Supreme Cannabis will also supply pods under different brands for Pax Era. 7Acres expects to sell Pax Era pods under the 7Acres brand in areas where Supreme Cannabis holds provincial supply accords.

Welcomes Health Canada final regulations

Supreme Cannabis has welcomed final regulations released by Health Canada. Under the newly released regulations, licensed holders are allowed production and sale of cannabis extracts, edibles, and topicals. Supreme Cannabis would develop good quality cannabis extracts that comprise oils, concentrates, vaping liquids, and tinctures under its own brands. The alliance with Pax allows Supreme Cannabis to enter the cannabis category.

Supreme Cannabis also plans to supply oils and extracts under its pact with Khalifa Kush Enterprises Canada ULC. The company’s proposed takeover of Blissco Cannabis Corp allows engaging in new product development.

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CBD CONDITIONS & TREATMENTS

Cresco Labs Inc (OTCMKTS:CRLBF) Inaugurates VidaCann Dispensaries In Jacksonville And Pensacola And Expands Retail Footprint In Florida

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Cresco Labs Inc (OTCMKTS:CRLBF) has inaugurated new Vidacann medical cannabis dispensaries in Jacksonville and Pensacola cities in Florida. Co-founder and Chief Executive Officer of Cresco, Charlie Bachtell said since the takeover announced in March 2019, Vidacann has expanded its retail footprint in the state. The company will close the acquisition of Vidacann within 90 days.

12 dispensaries in Florida

With the opening of two new medical cannabis dispensaries, Vidacann now has 12 dispensaries in Florida. The most advanced and one of the biggest medical cannabis providers in Florida, Vidacann will improve the retail presence in the two biggest cities: Jacksonville and Pensacola by opening new dispensaries. Cresco will have the fifth biggest retail dispensaries network in Florida.

Cresco expects a weekly patient growth of 10,000 in Florida with the opening of new dispensaries in Pensacola and Jacksonville. It plans to increase the count of dispensaries in the state to 20 by 2029.

Cresco sets a revenue target of $1 billion

Cresco has become one of the multi-state operators in just 30 days with a couple of takeovers recently. The company announced accord to takeover Origin House in April 2019. As per the terms of the deal, the shareholders of Origin House will get 0.8428 shares of Cresco for each of their share in Origin House. The deal is valued at $1.1 billion CAD. It makes the biggest public company takeover in cannabis space in the US for Cresco.

Cresco has set a revenue target of $1 billion by the year 2021. Its Q3 2019 revenues are reported at $12 million. The company aims to become one of the biggest cannabis players in the world.

Cresco owns licenses in 51 retail locations and have access to 11 states following the takeover of Vidacann. The takeover of Origin House provides Cresco access to California distribution network of 50 brand relationships and 500 dispensary partners. Revenues from California market is expected at $7.7 billion by the year 2022.

Cresco will have access to New York, Michigan and Florida. These states together with California would offer a better opportunity for the company. With all these developments in place, the valuation of the stock are estimated at $4.1 billion.

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CBD CONDITIONS & TREATMENTS

Future Farm Technologies Inc (OTCMKTS:FFRMF) Completes Indoor Cultivation Stage And Expects To Produce 130,000 Pounds Of Biomass From 2019 Crop

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Future Farm Technologies Inc (OTCMKTS:FFRMF) has completed 2019 hemp for wellness crop’s indoor cultivation stage. The company is ready to transplant 200,000 seedlings in Hersey, Maine based 100 acre facility.

Expects yield of 130,000 pounds

Future Farm expects an output of 130,000 pounds of biomass from 2019 hemp crop. The company will transplant the seedlings at right time in the climate controlled indoor facility. Perfect timing of the seedlings will help to grow healthy plants and get higher yield of cannabidiol and other valuable bi-products.

Zero THC products

Future Farm will seek the help of processing providers to process biomass produced from the crop. The company will supply extracts, isolates, high quality distillates, zero THC products, and water-soluble products to the product manufacturers.

The Managers (Growing Operation) of Future Farm, Nate Gray and Zachary Lapan said they are confident of achieving a bumper 2019 crop with the application of experience gained in the inaugural 2018 harvest and processing.

Issues an update on Florida operations

Future Farm said its operations in Apopka, Florida based White Sand Nursery are in full swing. It started the 3 truckloads of spring accent plants shipments per week in March 2019 to one of the biggest customers in White Sand. The company expected to ship 850,000 3.5” plants in the first week of June 2019. Expected revenues from these shipments are estimated at $500,000. Future Farm is planning to fulfill the pre-booked orders of 845,000 plants from clients across the nation in fall season.

Chief Executive Officer of Future Farm, William Gildea said he is pleased with the accomplishments achieved by the management at White Sands. He is thrilled to ship truckloads of good quality products in a healthy condition.

Enters pact with Northeast Processing

Future Farm has signed an accord with Vermont based Northeast Processing for the processing, testing and packaging of its hemp cultivated in a Maine based 100 acre facility in 2019.

Northeast converts the Future Farm produced hemp biomass into CBD isolate, whole plant extract, and CBD distillate in just 4 months. Future Farm is searching for customers to supply its isolate, distillate and full spectrum extracts for wellness and health products.

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