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Liberty Health Sciences Inc (OTCMKTS:LHSIF) Posts A Growth Of 400% In Revenues In 2020

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Liberty Health Sciences Inc (OTCMKTS:LHSIF) reported net revenues of $50.075 million in 2020. It is on the backdrop of introducing over 200 innovative products, expanding delivery infrastructure, inaugurating new dispensaries, and increasing volumes in the samestore sales. The company also registered a growth in medical use patient base in Florida.

Exceptional quality brands

Liberty’s product line comprises Honey Vapes, Pretty Pistil, Dom Pen, Papa’s Herb, and Liberty Health Sciences.

Significant improvement in economies of scale

Liberty put in considerable efforts to improve efficiencies and economies of scale. The company improved its product portfolio and enhanced its dispensaries presence and continuing growth in Florida.

CEO of Liberty, Victor Mancebo said the company reported the highest revenues in its history this year and demonstrated the strength of its brand and customer loyalty. The company is expanding its retail base, production, and delivery footprint in Florida because of its strategic initiatives.

Highlights

Liberty maintains 25 dispensaries across Florida. The company holds lease accords for additional 10 locations. It is negotiating for another ten areas.

To safeguard its employees from the ongoing coronavirus impact, the company ensured safety measures to its patients, employees, and facilities, adhering to stringent guidelines offered by health authorities.

Liberty obtained GMP (Good Manufacturing Practices) certification for its LHS350 Innovation Campus that holds a cultivation area of 190,000 Sq. Ft. LHS360 Innovation campus got a nod of the Health Department in Florida. It holds additional manufacturing and processing space of 50,000 Sq. Ft.

Liberty received Health Department nod in March 2019, to supply products derived from flowers in Florida. The company recruited Sheri Cholodofsky as CFO in May 2019.

Liberty unveiled its Zentient brand that comprises premium THC balanced and cannabidiol products such as oral solutions, vapes, and topicals in all of its dispensaries.

To facilitate the easy purchase for customers during the ongoing coronavirus crisis, Liberty facilitated ordering online, curbside pickup, free home delivery, text notifications, and extended working hours.

Signs agreement with Honey

Liberty signed an agreement with a California based medical use and adult-use cannabis company – Honey. As per the terms of the accord, the company will supply Honey branded products to its dispensaries.

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