Medical Marijuana Inc (OTCMKTS:MJNA) has released a letter to the investors explaining the operational, financial results, and upcoming objectives.
Medical Marijuana has summarized its three initiatives and one plant approach to benefit from the growth of CBD and Industrial hemp by becoming a leader in R&D of CBD based therapeutics, a global house of the brands, and a supplier of good quality cannabidiol raw materials on the global arena.
It has provided guidance on financial performance for the rest of the year. Medical Marijuana is on track to achieve the adjusted EBITDA goal of $5.1 million annually. The company has provided information on recent financial results and financial progress that include a surge in gross profit, robust sales, and a reduction in operational expenditure.
Provided outcome of the CEO D. Stuart Titus’s successful testimony before the FDA after the agency gave the nod to testify. It is the only company to find a place for the cannabidiol products in Prescriber’s Digital Reference.
To provide transparency and give communications at the right time to the investors, Medical Marijuana has made improvements to the financial and business strategies. Medical Marijuana has appointed Dr. Levan Darjania to head R&D. Dr. Levan ensures its products withstand the climate extremes and challenges in the overseas.
CEO said the company changed the business strategy to stay ahead of the trends and capitalize on the growing CBD industry by 2025 through planning. Medical Marijuana has posted excellent growth in the past year and delivered solid growth so far this year. The company expects to post the same momentum to post excellent results going forward.
Participates in a clinical trial
CBD based toothpaste and mouth wash products from oral care line of Axim Biotechnologies Inc (OTCMKTS:AXIM), an investment company of Medical Marijuana, are included in the clinical trials registration through New Zealand and Australia Clinical Trial Registry. Dr. Stuart said additional research would benefit the CBD industry. Medical Marijuana will participate in the clinical trial of these oral care products.
Impression Healthcare Limited will conduct the clinical trial on CBD based mouth wash and toothpaste involving 40 people, who are suffering from gum disease and gingivitis, in 30 days and monitors for overall gum health and gum inflammation.
CLS Holding USA Inc. (OTCMKTS: CLSH) Announces Q1 2022 Financial and Operational Results with Revenue Up 45.5% YoY
CLS Holding USA Inc. (OTCMKTS: CLSH) has announced financial and operational results for Q1 2022, ending August 31, 2021.
CLS reports the most profitable quarter in its history
During the quarter, the company attained a positive net profit for the first time, making Q1 2022 the most profitable quarter to date. Net income was $427,599, with a net loss of $1.145 million for Q1 2022. Revenue growth was significant, with the company reporting a 45.5% growth relative to a year ago. Additionally, the company managed to maintain a gross margin of 52.7% in Q1 2022, YoY, allowing CLS to attain the goal of being over 50%. Interestingly, the gross margin was 44.8% up sequentially.
The company’s COO and president Andrew Glashow said, “We are beyond proud to have achieved profitability for the first time in our Company’s history, which is a feat we could not have achieved without the hard work and dedication of our team members. With the announcement of our new joint ventures and other innovative launches on the horizon, we foresee continued growth and success in the future.”
CLS Holding USA’s brands performed well in Q1 2022
CLS’s Las Vegas retail location, Oasis Cannabis Dispensary, continued to show robust results in Q1 2022, achieving a 21.39% YoY net income increase. The dispensary reported YoY growth in processed transactions. The solid numbers demonstrate the company’s ability to listen to the market and meet the needs and wants of the community.
The company’s branded division, City Trees, has maintained a considerable YoY sales increase every month for the past year. City Trees saw an overall increase of 152.41% increase in net income from the previous year’s quarter. Also, the brand achieved high ranks with tinctures and concentrates across Nevada. Notably, of all the 58 brands included in BDS analytics’ cannabis concentrates category, City Trees ranked 3rd for units sold in the quarter.
Trulieve Cannabis Corp (OTCMKTS: TCNNF) Reopens North Port Dispensary, Formerly Harves House of Cannabis
Trulieve Cannabis Corp (OTCMKTS: TCNNF) has announced the reopening of a North Port, Florida dispensary. This dispensary located in the Sarasota area is the 92nd Trulieve location in the state and was previously named Harvest House of Cannabis.
Trulieve reopens North Port dispensary.
When the North Port site reopens as Trulieve, it will greet Harvest patients with the same devoted personnel and high-quality service as when it closed for renovations and rebranding. Trulieve announced the completion of its purchase of Harvest Health and Recreation Inc. on October 1, with all Harvest dispensaries in Florida closed for rebranding to Trulieve. Throughout the month of October, the Company will continue to reopen Harvest sites across Florida.
The company is inviting the community to celebrate the reopening of its dispensary with all-day specials and swag giveaways. On launch day, all patients, from newcomers to long-time Trulieve patients, will be eligible for a 25% discount at the North Port facility.
Patients will find the largest assortment of CBD and THC products in Florida, including edibles, concentrates, smokable flowers, tinctures, vaporizers, topical creams, and more, in stores and online. Trulieve also provides home delivery throughout the state, as well as web-based ordering and in-store pickups.
Products available online and in-store
Trulieve’s whole product portfolio is available for online orders to aid patients with ordering, with in-store pickup or home delivery options available across the state depending on customer preference. In addition, Trulieve provides complimentary 30-minute virtual consultations with a Trulieve expert to assist with product, device, or doctor’s suggestion questions. Appointments are available on Trulieve’s website and open to all patients, even if they are new to medical cannabis or those searching for new therapeutic choices.
The company is keeping an eye on the COVID-19 situation and is committed to limiting the virus’s spread. Trulieve requires all staff, regardless of vaccination status, to put on masks in addition to following strict cleanliness and safety measures.
ILUS International Inc. (OTCMKTS: ILUS) Announces Award Of a $1 Million Contract For Phase 2 Burj 2020 Project
ILUS International Inc. (OTCMKTS: ILUS) has announced that BDC Fire which it acquired on April 12, 2021, which had received three contract awards estimated at $1.5 million, has now received a $1 million contract for phase 2 of the Burj 2020 Project.
BCD Fie receives another $1 million contract
BCD Fore had previously received a contract for fire systems installation for the Burj 2020 Tower in Dubai. The company started work on the project inQ3 2020, and the contract value for the phase is around $1 million.
The company is committed to completing the project and upcoming projects, and as a result, it is recruiting an additional 45 technicians and salespeople. Hiring more technicians puts the company in a position to apply for the lucrative A-level license for installation, supply, and maintenance of fire systems in industrial, residential, and oil fields.
ILUS Managing DirectorJohn-Paul Backwell said, “BCD Fire has achieved so much since we acquired it earlier this year and the award of this next phase of the Burj 2020 project is reward for the progress made by the ILUS and BCD teams. Obtaining the A-level license will rocket this acquisition to a whole new level. There has also been overwhelming interest from regional Fire Safety Training Companies in our new Virtual Reality Fire Extinguisher Training Courses which are being launched this month.”
FireBug and TVC received numerous purchase orders
CEO Nick Link stated, “ILUS just closed out its best quarter yet and we are looking forward to releasing an update on this in the next week or so once the team has finished consolidating the figures. FireBug and TVC have received several purchase orders during the 3rd quarter and they have been making excellent progress, but we have felt it best to provide updates on the more significant deals in the region of $1 million and upwards or noteworthy clients.”