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Sugarmade Inc (OTCMKTS:SGMD) Issues An Update To The Shareholders: Sugarmade’s Revenues Exceed Internal Forecasts

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Sugarmade Inc (OTCMKTS:SGMD) expressed gratitude to the investors for their continued support to meet its commitments and explore the current opportunities to move forward to post excellent revenues. The hydroponic space is vital to support booming hemp and hemp-related products, which are the growth drivers in the long-term. This thesis is further strengthened when the lawmakers in the US House Judiciary committee have passed the bill on Wednesday with a great majority decriminalizing the marijuana at the central level.

The market for hemp products

The hemp and its associated products would command a significant market share in the coming five years. It will present a lot of ups and downs for the primary producers. However, the companies that cater to the needs of these primary producers will enjoy a smoother ride. Such firms will grab a large pie of the market as the industry grows. Sugarmade will benefit by offering hydroponics as the solution to tackle tighter margins.

Strengthens gross margins

Sugarmade strengthened its gross margins and posted revenues of $26 million from the preliminary calendar year to the date. Going forward, the hydroponics operation, which is recently taken over by Sugarmade, would contribute revenues of $32 million for this calendar year. Sugarmade is well-positioned to capitalize on the opportunities next year.

Jimmy Chan, Chief Executive Officer of Sugarmade, said the success is on the backdrop of efficient logistics, sourcing, and effective e-commerce programs. The company achieved great success by placing on Amazon. It’s Simple Deluxe, and iPower product lines are the best sellers on Amazon. Sugarmade ramped up the availability of these products in 2018. The company also realized better sales through its e-commerce, logistics, and fulfillment efforts. He said great margins and revenues are proof of the efforts of our staff and exceeded the internal forecasts.

Advances plan to get listed on the major US exchange

Sugarmade is advancing plans to uplist on a major exchange in the US. It is on track to realize annualized revenues of over $65 million. Jimmy said the company is preparing to take over another company while getting prepared to climb to the major stock exchange.

Sugarmade acquired hydroponic e-commerce supplier – BZRTH Inc in October 2019 and positioning itself as a dominant player in the hydroponic space ($24 billion).

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ENDEXX (OTCMKTS:EDXC) Reports An Increase Of 91% in Q2 2020 Revenues: Takes Over Retail Pro Associates

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ENDEXX (OTCMKTS:EDXC) reported revenues of $1.3 million (an increase of 91%) in Q2 2020. It is on the backdrop of improved sales of cannabidiol products, mainly Premium Blue topical and improved sales activity in e-commerce and wholesale channels. Premium CBD products are available at 6,000 retail stores across the nation.

Flexible e-commerce platform

Endexx, which has business as CBD Unlimited, introduced an e-commerce platform that allows customers to control their subscription models. The customers can either delay or extend the subscription when reordering. CBD Unlimited customers are flexible in experimenting with products and dosages. The customers can know more about the best product dosage suitable for them and choose the wellness products for ordering. They can also order online and choose a pick up from their nearest location.

Expands store count in Q2

CBD Unlimited increased the number of stores in Q2 to provide super-premium and premium products. Its R&D team is undertaking initial testing of forthcoming Trail-R-Mix equine products, which will be introduced towards the end of this year. The company expects to expand the store count over the long term to more than 100,000. As part of its strategy to promote growth across the world, the company signed accords with distribution partners in the Caribbean, North America, and the Polynesian markets.

Purchases Retail Pro Associates

CBD Unlimited has taken over Retail Pro Associates Inc (RPA) in May 2020. The acquisition allows the company to focus on the distribution and sales of good quality supplements for the animals. It expects to strengthen and grow its Pet and Equine product lines by adding a management team with expertise in the Pet and CPG industry.

CBD Unlimited selected RPA considering the knowledge of the management team in health and total wellness products. Vice President (Marketing and Sales) of RPA, Stephen Herron, will play a vital role in promoting Equine and Pet divisions of CBD Unlimited.

Herron will share his experience in drug, food, and mass retail channels to guide the team at RPA. CEO and Chairman of CBD Unlimited, Todd Davis, will lead the management to promote growth.

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Marijuana Company Of America Inc (OTCMKTS:MCOA) Updates On JV Project In Oregon: Reports Revenues Of $695,096 From Its hempSMART Products

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With the state of Oregon allowing essential services during COVID-19 pandemic, Marijuana Company Of America Inc (OTCMKTS:MCOA) managed to operate its hemp farm without any disruptions taking the help of CBA (Covered Bridge Acres). CBA adopted all safety measures to ensure hassle-free operation of the farm.

Satisfies flower and biomass demand

CBA is engaged in growing high cannabidiol hemp since acquiring the Scio farm in the year 2018 and satisfies the demand for flower and biomass. However, the sales of these products are sluggish because of the coronavirus crisis and excessive production in 2019. To promote growth, CBA will focus on growing high-quality cannabigerol (CBG) flower at its greenhouses. CBG flower satisfies the demand for a smokable flower segment.

Production of smokable buds

CBA will utilize SCROG cultivation method to grow hemp and allow the average production of up to 90% tops from each plant. The company will produce smokable buds by trimming the tops. It will apply high-quality nutrients at the right time to improve the development of aromatic and dense buds used in the final product. The company aims to maintain leadership in the Smokable cannabigerol flowers and meet the growing demand. Though CBA booked initial sales of biomass in 2019, coronavirus has impacted the marketing of other products. The company is exploring opportunities to book sales in other areas.

Reports a year-on-year growth of 175.7%

Marijuana Company has reported revenues of $695,076 in 2019. It represents a year-on-year growth of 175.7%. The company’s assets dropped to $1.143 million (down 40.4%) in 2019.

Substantial savings on hempSMART products

hempSMART is offering its products at a discounted rate allowing customers to enjoy significant savings. The country is reopening its economy on a cautious note, and people who emerge from their homes, can strengthen their immunity and keep away illnesses. When the customers shop at its site, hempSMART donates a small portion of the sales to support nurses, doctors, first responders, and hospital workers every week.

HempSMART Global is developing its innovative digital platform that supports hemp products for a wider base of consumers. On an ongoing basis, the company supports philanthropic partnerships.

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Medipharm Labs Corp (OTCMKTS:MEDIF) Enters Manufacturing Agreement With Avicanna Inv. (OTCMKTS:AVCNF)

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MediPharm Labs Corp (OTCMKTS:MEDIF) has announced the signing of a strategic multifaceted manufacturing deal with Avicanna Inv. (OTCMKTS:AVCNF) that involves international and domestic distribution, licensed production as well as intellectual property licensing,

MediPharm signs three-year agreement

Aviccana is a company that focuses on developing, manufacturing, and marketing of sustainable plant-derived and organic CBD-based products. According to the agreement which will run for three years, MediPharm will use its contract manufacturing abilities at its Ultra-modern production facility in Canada to produce Avicanna’s Rho Phyto cannabis products as well as Pure Earth topicals for commercialization via Medical Cannabis by Shoppers.

Equally, Avicanna will give MediPhram a license to use its proprietary formulation to develop white label proprietary products for both the domestic and international markets. MediPharm is experienced in the development of products and will employ its in-house processing, testing, and packaging expertise to produce finished products from the formulations.

Avicanna CEO Ara Azadian said that this partnership is one of the best combining experience in pre-clinical R&D and intellectual property with the unparalleled quality and manufacturing capability of MediPharm. The collaboration will offer advanced products to patients and the medical community that are backed by data, scientific rigor, and quality standards in the industry.

MediPharm to file Q1 results before June 29

MediPharm has also indicated that it will file its Q1 2002 financial statements as well as management analysis and discussions by June 29. Following the coronavirus pandemic, the securities regulatory authorities in Canada have given companies an extra 45 days to finalize regulatory filings. MediPharm usually reports Q1 results by May 15, but considering the COVI-19 disruption, the company is capitalizing on the exemption.

Since its last financial reports, the filing of the Q1 results continues to be pending the company has offered updates regarding the coronavirus pandemic and corporate developments. Pat McCutcheon, the CEO of the company, indicated that despite the pandemic affecting the industry, the company has been positioning itself in the market with advanced capabilities for new formulations, products, and GMP certification.

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