fbpx
Connect with us

MARKETS

Sunset Island Group Inc (OTCMKTS:SIGO) Issues an Update on Company’s Targets and Harvest

Published

on

Sunset Island Group Inc (OTCMKTS:SIGO) has issued an update to the shareholders on the current harvest.

The company will use the Bay 1 harvest for the extraction. The Bay 2 harvest started from March 9, 2018. It has segregated the pre-trimmed salable flower as part of harvesting. Around 53 kg of the salable flower is kept for drying. The company is expecting a yield of 40 pounds from the salable flower.

For Extraction

Around 30 pounds of the flower is frozen and will be used for extraction. It gets yields between 10% and 18% of the process weight, which is from the pre-trimmed flower.

Targets

The main aim of the company is to produce between 0.08 and 0.10 pounds from an sq. ft. of the canopy space. Each Bay has a canopy space of approximately 1600 sq. ft. Therefore, the company aims to generate approximately 160 pounds from each harvest per Bay.

The Bays 4, 3, and 5 are planted using the new growing process. The company will be able to produce more yield from these Bays. The number of plants in Bay1, Bay 2 and Bay 3 are 500, 800 and 1200 respectively.

Retrofitting of the current greenhouse

The company will complete the retrofit of the current greenhouse in phase 1. It will build a new greenhouse in the second phase on the bare land. In order to maintain a controlled environment, the company will install HVAC systems in the greenhouse. The Quest 506 dehumidifiers are being installed in the greenhouse. The company will spend approximately $2 million for the retrofit activities.

The rewiring of the greenhouse is finished on January 20, 2018. Around 120 LED lights are installed in the grow Bays.

The greenhouse is fitted with atmospheric sensors to provide alerts.

The company has constructed new dry rooms and trim rooms.

Expansion

The expansion of Greenhouse is also in progress. The Bay 6 nursery will be moved to the self contained greenhouse and will use Bay 6 as the grow Bay to increase the growing area by 20%.

The flowering plant’s size will be reduced to enable the multi-tier growing system in the greenhouse.

The daily cloning capacity is 100 plants and plans to augment to 350 plants.

Continue Reading
Advertisement

MARKETS

CV Sciences Inc (OTCMKTS:CVSI) Navigates Market Storms

Published

on

Any company that faces the campaign of short sellers experiences hard times; especially the shareholders. In the recent months, CV Sciences Inc (OTCMKTS:CVSI) had a rough battle with the investors which badly bruised the share price. In an Aug. 30, 2018 press statement, the company gave an update to shareholders regarding the situation.

In the update, CV Sciences acknowledges the “malicious” intent of the short sellers. The company CEO, Joseph Dowling further explains that they are victims of “campaigns run by short sellers in order to depress our stock price, so they could make financial windfalls.”

Manipulations

The CEO further details that: “We are also aware that at least one such group has boasted on social media platforms about its financial returns since their release of misleading information regarding the Company’s patent prosecution and drug development efforts.”

In rebuttal, the CEO affirms that the company presents strong financial numbers and that this will go on in future. He adds that there is nothing different with the business model since it is solid. Joseph speaks out so strongly about the “manipulations” and offers his sympathy for the shareholders.

“We will continue to do everything in our control to bring this activity to a halt. In the months ahead, we look forward to reporting our operating results in this fast-growing industry and providing updates on our drug development efforts,” he says.

A product milestone for CV Sciences Inc (OTCMKTS:CVSI)

The run in with the short sellers did not dampen the company’s spirits. In under two weeks, the company announced a great milestone for one of its products. The PlusCBD Oil™ Gold Formula product line acquired the Generally Recognized as Safe (GRAS) status. The status implies successful performance on the safety front. Further, the GRAS status implies the U.S. Food and Drug Administration (FDA) approves of the production and supply of PlusCBD Oil™.

Such a status is important to product sales and consumer confidence in the company. Concurring with the assessment, the CEO says:

“We are committed to building consumer confidence and trust in the safety and quality of our products, supported by scientific evidence.

Continue Reading

BUSINESS

Tilray (TLRY) Joins Cannabis Sector’s Pause, Which Is Good News For People Who Missed Its July IPO

Published

on

With the high-flying cannabis sector taking a pause, now is the time for investors to reassess their positions.

A good place to start would be by taking a moment to examine who is guiding cannabis-focused companies. In other words, who is it that is forming a company’s reputation.

Take, for example, high-flying Tilray, Inc. (TLRY). It’s a pioneer in medical cannabis research, cultivation, processing, and distribution. Now it is rapidly staking a strong place in Canada’s soon-to-be legal adult marijuana market.

Looking beyond its world-class research teams, investors will discover Tilray has one of the sector’s most prestigious board of directors.

Tilray’s board includes Rebekah Doop, who is a principal at Google. Then there’s Scotty Greenwood, who was chief of staff sat the U.S. Embassy in Canada, and is now the CEO of the Canadian American Business Council.

Of course, the board itself is not solely responsible for the 400 percent run up since Tilray’s July IPO. Still, it should comfort investors to know Tilray is in such good hands.

Doop and Greenwood are joined on the board by other corporate heavyweights, such as Christine St. Claire, who was a principal and lead audit partner at KPMG; Michael Auerbach, a risk expert who has held senior positions at the Center for American Progress and The Century Foundation, where he concentrated on issues related to U.S. Foreign Policy, National Security, and Conflict Resolution.

Rapid Expansion Into Legalized Pot

Based in British Columbia, Canada, Tilray is global concern. It is the only GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments, and researchers in 11 countries on five continents.

It’s also perfectly positioned in the heart of Canada’s legalized cannabis industry.

The Prince Edward Island Cannabis Management Corporation recently selected a Tilray subsidiary to supply its adult-use cannabis.

The purchase order will allow its wholly owned affiliate, The High Park Company, to supply PEI’s four cannabis stores and online channels with cannabis products. It’s all in anticipation of the launch of the adult-use market on October 17, 2018.

In all, Tilray has signed agreements to supply adult-use cannabis to consumers in seven Canadian provinces and territories, including British Columbia, Manitoba, Nova Scotia, Ontario, Quebec, the Yukon territory, and the Northwest Territories

Its subsidiary, High Park, is Toronto-based, and is led by a team with deep experience in cannabis and global consumer brands.

Tilray established High Park in order to develop, sell, and distribute a broad-based portfolio of adult-use cannabis brands and products. Its portfolio is uniquely crafted and grown by master horticulturists dedicated to sustainable growing practices.

Tilray’s shares were downgraded Northland Capital, which gave “complex valuations” as the basis of its esoteric reasoning. Tilray’s share price shed nearly 11 percent on the news.

But Tilray is a strong company.

It has a partnership to develop medical products with Sandoz Canada, a division of Novartis (NVS). Tilray also has a relationship with Privateer Holdings and marijuana information website Leafly, along with distribution deals with Shoppers Drug Mart, Pharmasave and various Canadian provinces.
It is perfectly posi

Continue Reading

MARKETS

PotNetwork Holdings Inc. (OTCMKTS:POTN) Firing On Products Sales Despite Stock Underperformance

Published

on

PotNetwork Holdings Inc. (OTCMKTS:POTN) has underperformed the industry, depicted by the stock shedding more than 60% in market value.  However, the poor run in the market cannot in any way be attributed’ to deteriorating business performance. The company appears to be firing on all cylinders more so on product sales.

$2 Million Record Sales

The company’s wholly owned subsidiary Diamond CBD Inc. is fresh from announcing revenues of over $2 million, which represents an 80% year-over-year growth. The increase also underscores a continued trend that has seen it reach record heights each quarter.

Diamond CBD record-breaking trend continued at the just concluded Las Vegas Champs Show that saw the company generate $300,000 worth of purchase orders.  At the event, the company was able to showcase its product line made up of Vape Additives, Liquid Gold Vape Juice and CBD Gummies among many more.

“Diamond CBD has a highly successful history of sales from these key trade shows.  Key among them are the CHAMPS Trade Shows which strive to provide the best trade show experience possible by matching exhibitors with buyers from throughout the world,” company in a statement.

PotNetwork Holdings attributes the stellar performance to the unit’s expansion drive that has seen it launch innovative product lines that continue to elicit strong demand in the market.  Innovative sales strategies, as well as market diversification, have also worked to the unit’s advantage in generating new sales.

In a bid to protect market share already accrued, PotNetwork Holdings has engaged the services of two national law firms that are to handle intellectual property and regulatory guidance.  The law firms should help the company explore trademarks essential for solidifying existing and forthcoming market positions.

Price Action

Despite the stellar performance on the business execution front, PotNetwork Holdings remains under pressure depicted by share price action. The stock is currently trading near a critical support level at the $0.20 level, below which it could drop further.  It remains to be seen if Diamond CBD achievements will help strengthen, investor sentiments in the stock thereby trigger a bounce back from the current lows.

Continue Reading
Advertisement
Advertisement
Advertisement






Trending Stories