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Sugarmade Inc (OTCMKTS:SGMD) Announces A Sharp Increase In Demand For Cannabis Delivery Service: Reports A 10% Weekly Sales Increase

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Sugarmade Inc (OTCMKTS:SGMD) has announced a significant rise in demand for its cannabis delivery service. It witnesses a 10% rise in weekly sales in the past two weeks because of growing coronavirus pandemic. The stay at the home trend is contributing to the significant demand for cannabis medicines. Several people are stocking one-month medicines as a precautionary measure.

The demand for cannabis service to continue

Sugarmade anticipates that the demand for cannabis delivery service will continue for several weeks. To meet the growing demand, Budcars is expanding its headcount. The company expects to solidify its yearly revenue target of $20 million in 2020 because of a sharp jump in sales.

Controlling stake in BudCars

Chief Executive Officer of Sugarmade, Jim Chan, said the COVID-19 is creating a change in the consumer behavior pattern. It will have a long term impact. Sugarmade recently acquired a significant stake in BudCars. It keeps opening an option to acquire a controlling stake in BudCars.

BudCars is well-positioned to clinch a large portion of the rapidly growing delivery service and mobile commerce. Several people shift to the home delivery option. Therefore, cannabis is not an exception. BudCars is prepared to cash in on this growing demand for cannabis delivery.

Growing demand for courier services

According to the management, the outbreak of COVID-19 has increased demand for virtual connectivity, home delivery of goods/ services, and online consumption. The same trend expects to continue for several weeks. It has created a growing demand for companies such as Instacart, Postmates, and Amazon and several other courier services. This trend also applies to the legal cannabis market in California.

Chan said the company is experiencing a growing demand for increased order size for edibles and flower and cannabis deliveries because several customers are stocking up for an extended period at home. According to the CDC recommendation, they are stocking up medicines for at least 30 days.

Enhanced safety practices

BudCars is taking precautions to ensure safety to the customers and its delivery staff. The company, along with Sugarmade, has ramped up cannabis delivery service in the Sacramento metropolitan area. The company will extend its reach to meet the growing demand.

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NewLeaf Brands Inc (OTCMKTS:NLBIF) Will Take Over Mydecine Group; Add 37.5% Stake In Trellis Holdings Oregon

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NewLeaf Brands Inc (OTCMKTS:NLBIF) informed the shareholders about its recent developments. We Are Kured, which belongs to NewLeaf, introduced innovative CBD flower pre-rolled joints on April 9. The company received an overwhelming response from the customers. To meet the growing demand from customers, the company expects to improve the distribution network in the US.­­

Inks share swap deal with Levee Street Holdings, LLC

NewLeaf entered a share swap pact on April 23, 2020, with Levee Street Holdings, LLC, to acquire a stake of 50% for CAD 450,000. Levee Street is established to venture into an alternative beverage like CBD products. Greg Kassanoff founded companies such as Levee Street, and Pioneer Wine and Spirits. He is also working as CEO at MPWS (Mexcor Pioneer Wine and Spirits), which maintains several restaurants and retail relationships across Texas.

The network developed by Greg is playing a vital role in introducing a product line of NewLeaf across the state of Texas. CEO of NewLeaf, Joshua Bartch, said its team is working hard to become a leading player in product categories like hemp, mushroom, and cannabis.

Signs definitive accord to takeover Mydecine Group

NewLeaf entered pact on April 29, 2020, to take over a vertically integrated firm – Mydecine Group, which uses wellness, health, and medicinal properties of compounds available in mushrooms.

Takes over 37.5% stake in Trellis Holdings Oregon, LLC

NewLeaf signed an accord on May 5, 2020, to clinch a 37.5% stake in Trellis Holdings Oregon, LLC. As per the terms of share exchange the deal, NewLeaf will acquire all of the issued and outstanding capital of Trellis from Benjamin Martch and David Joshua Bartch.

Trellis, which owns several licenses with OLCC in the Oregon state, conducts business operations in recreational and medical cannabis. The company also maintains recreational cannabis cultivation on eleven-acre land in Southern Oregon. In Portland, Oregon, Trellis operates recreational and medical cannabis dispensaries. The company seeks additional licenses to improve canopy cultivation outdoor on 40,000 Sq. Ft.

Appoints chief operating officer and chief scientific officer

NewLeaf inducted Robert Roscow as CSO and Damon Michaels as COO on May 12, and 11 2020.  The company entered a share exchange deal on May 21, 2020, to acquire MindLeap Health Inc., an advanced telemedicine platform.

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SinglePoint, Inc. (OTCMKTS:SING) Posts Solid Growth Of 300% In Q1 2020 Revenues

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SinglePoint, Inc. (OTCMKTS:SING) has reported revenues of $1.075 million (up 300%) in Q1 2020. The projects developed in Q4 2019 and the acquisition of Direct Solar helped the company report stellar growth in Q1.

Record solar bookings in Q4 2019

Direct Solar holds stellar solar bookings in the previous quarter; it expanded its business to 30 states from the prevailing seven markets. It clocked residential sales of more than 40 in February 2020. However, the company’s sales declined in March on account of the coronavirus crisis.

Contactless sales

Direct Solar adopted a digital sales platform to facilitate contactless sales, which helped to venture into the new markets quickly. The company also achieved cost savings by switching over to the digital sales platform.

Healthy growth in the solar business

Direct Solar maintains excellent solar bookings that comprise accretive and incremental commercial sales and residential bookings. The company began experiencing the impact of coronavirus in late Q1 and more prominent in Q2.

Chairman and CEO of SinglePoint, Greg Lambrecht, said 1606 Original Hemp Product and Direct Solar America contribute to its revenue growth. The company will realign its business opportunities and take action to boost growth.

The company has outperformed in Q1 by surpassing the revenue of $1 million. However, it expects to face the coronavirus impact on Q2 revenues because of business disruptions. SinglePoint expects to post solid growth in Q3 and Q4 by unveiling innovative products and changing the sales strategies.

Initiatives to double sales in Q2

The hemp vertical of SinglePoint expects to double the sales in Q2. SinglePoint is also unveiling Hemp 1606 6-pack counter display. The company realized sales growth of 133% in Q1 from 1606 Hemp compared to the previous quarter.

SinglePoint hired talented sales professionals to promote in-store products. They will also play a vital role in acquiring new stores to sell its products soon. The aim of 1606 Hemp is to record over 250 retail accounts across several states.

SinglePoint expects to generate revenues of up to $5.5 million by offering its products to 1,000 stores. On the successful rollout of Hemp 1606, the company has added 250 accounts in four weeks.

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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) Posts Record Revenues Of $4.7 Million In Q1 2020

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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) reported an increase of 21% in revenues to $4.7 million in Q1 2020. Chalice farms contributed revenues of $3.1 million. The company adopted measures like reducing operational spending, improving warehouse efficiencies, and extending terms with the suppliers to realize better growth in Q1.

Achievements in Q1

Golden Leaf unveiled the RXO product line on January 8, 2020, leveraging its patented technology – Essential Innovations. The product is offered in Tanker, Shatter, and Vaporizer varieties. It will sell these innovative products in Washington, Nevada, and California using the partnerships for manufacturing established in Q1. Golden Leaf is experiencing growing demand for its Fruit Chews in both retail and wholesale channels.

Inks an accord to takeover Tozmoz

Golden Leaf inked an accord to take over one of the leading cannabis extractors in Oregon – Tozmoz on February 3, 2020. Established in 2015, Tozmoz provides extraction processes like ethanol, hydrocarbon, and Co2 for wiped film and short path distribution. Its additional services include packaging services, product formulation, and manufacturing.

Commenting on this deal, Jeff said the company is working with Tozmoz for several years now, and this takeover squarely fits into its business strategy. The acquisition allows the company to build and expand its product line. Golden Leaf acquired all the assets like a facility based in Clackamas of Tozmoz for $2.8 million.

Post takeover, Tozmoz co-founders – Jerry Wallis and Joel Klobas, will continue to offer their services to Golden Leaf. Also, Golden Leaf will employ Klobas as its Vice President (manufacturing). Jerry will provide consultancy services to Senior Vice President (operations) and Vice President (production).

To tackle the upcoming coronavirus crisis, Golden Leaf expedited the unveiling of home delivery service on March 20, 2020. Golden Leaf signed a product distribution and manufacturing accord on March 13, 2020, with Sugar Pine for the manufacture of marijuana-infused products.

CEO of Golden Leaf, Jeff Yapp, said the company appointed John Ford to ensure distributional and operation growth by implementing best standards and practices. Golden Leaf has given the charge of Interim Chief Finance Officer to its president ‘Stanley Grissinger.’

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