#CBD Product Sales Snapshot Looking at the US and Globally-(OTC: $HIPH) (OTC: $EDXC) (OTC: $CANN) (OTC: $MJNA)
Point Roberts WA, Delta, BC – August 21, 2019 - Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot looking at the recently reported growth in CBD product sales and how this is now painting a more accurate picture of the CBD market.
In recent news, New York-based Nielsen estimated total sales of all legalized cannabis, which includes C.B.D. products, reached $8 billion in the United States in 2018.
“As legal restrictions are loosened, the process of bringing a hemp C.B.D. product to market, including the leveraging of mainstream distribution channels, could soon mirror that of other C.P.G. (consumer packaged goods) products,” Nielsen said. “From over-the-counter medications, to cosmetics, pet care and even products throughout the traditional food and beverage space, the future potential of hemp-based C.B.D. could impact billions in C.P.G. sales across categories.”
CBD has been a rampant news topic for the past year and has even overshadowed the cannabis (high THC plant) industry in some regards. However, due to lack of clarity from the FDA, sales have yet to reach the critical mass many have been anticipating. This is starting to change as more companies learn to navigate these complex regulations, product quality and consistency improves and for some, as brand awareness takes off. Now recent financial results give evidence to an overall increase in CBD product sales that are finally generating real revenues, both in the US and abroad.
American Premium Water Corporation (OTC: HIPH) recently announced that it has secured a contract through its UK subsidiary, which will generate over $833,000 of topline revenue. This is the largest contract for the Company to date, and puts the Company on a solid track to exceed its previously issued 2019 revenue guidance of $1 million.
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American Premium Water Corporation CEO, Ryan Fishoff stated, “I’m happy to announce that the Company has secured its largest contract to date, adding over $833,000 in top line revenue. The Company is making strides towards becoming the market leader in premium CBD infused consumer products. We have been making incremental progress towards bringing our products to market and generating revenue; shareholders are beginning to see the fruits of management’s labors. There is still a lot of work to be done; the Company has an ambitious business plan that it is focused on executing. There is a lot of business in the pipeline that the Company is working on closing to generate more sales and form partnerships that will create long-term growth to the Company’s top and bottom line. I am headed to London this week to ensure that the Company completes the payment process for this contract so that we can add it to the 2nd quarter filings.”
The contract was executed in the 2nd quarter of 2019. The payment, which originated from the UK, had not settled at the time of filing deadline. After consulting with the Company’s retained accountants, it was determined that it would be in the Company’s best interests to file 2nd quarter financials to remain compliant with OTC Markets and the Company will amend the filing upon completion of the clearing process in accordance with Generally Accepted Accounting Principles (“GAAP”).
Mr. Fishoff continued, “Aside from work on this contract and the two-container order that we announced last week that should be shipping out next month to the UK, the Company has been focusing on Canyon Create, investing more capital and resources this quarter into expanding distribution of Vanexxe, which is currently available on Wal-Mart.com. This ground breaking product fulfills a need for an affordable and effective cosmetic treatment for unsightly varicose veins, which before its launch didn’t exist in the marketplace. The Company is also set to launch its Prickly Pear acne cream, which uses CBD and CBG as its activating agents. The Company feels this product has the potential to become a market leader relatively quickly. We’re excited for Canyon and the Company’s other initiatives that will be picking up steam in the 2nd half of the year. I look forward to keeping the investor and shareholder community informed as I am able to update everyone accordingly.”
LALPINA CBD water can now be purchased online at https://www.singleseed.com/product/lalpina-cbd-water-6-pack/
CBD Unlimited, Inc., formerly known as Endexx Corporation (OTC: EDXC), a provider of innovative phytonutrient-based food and nutritional products, recently reported year over year revenue growth for its third quarter of fiscal 2019. For the three months ended June 30, 2019, the Company generated over $335,000 in sales, which represents an increase of 52% year over year, and nine months year-to-date $1,252,880 a 108% increase.
“Our third quarter of fiscal 2019 showcases our accelerated annual growth rate and investment in the long-term success of CBD Unlimited. Our team continues to innovate and exceed expectations as we build strong momentum to finish the fiscal year. Earlier, in December, we forecasted that we would be in 5,000 stores by the end of calendar 2019. We are positioned to surpass this number near term. The company will continue to invest in inventory, innovation and scalability, delivering and executing the business plan,” commented CEO & Chairman, Todd Davis. “As we look to the rest of the year, we expect to continue this growth trajectory as we increase our store count exponentially. As we scale aggressively, we continue to watch and listen to the pending FDA suggested guidelines closely. Additionally, we look to efficiently educate the consumer on our CBD products. We look forward to executing continued growth for the remainder of fiscal 2019 and on to 2020.”
As mentioned above, CBD is drawing in a lot of interest, including that of many more THC focused cannabis companies looking to ride the CBD wave. Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, recently announced that the Company has begun manufacturing operations under an industrial hemp processor license.
This processor license will allow Medical Marijuana, Inc. to freely store, handle and convert industrial hemp into a marketable form. This will enable the company to continue implementing its soil to sale plan, including processing its own raw material and manufacturing finished goods within the new facility.
“Operating under this license is a big step for our Company and a great sign for the future of our domestic operations,” said Medical Marijuana, Inc. CEO, Dr. Stuart Titus. “The 2018 Farm Bill has allowed us to grow our processing and manufacturing capabilities as well as drive the global supply chain of high-quality hemp.”
General Cannabis Corp (OTC: CANN), the comprehensive national resource to the regulated cannabis industry, also recently announced their financial results for the quarter ended June 30, 2019.
“We have surpassed $1 million in revenue for the fifth consecutive quarter, with a 34% increase in year-to-date revenue in 2019 compared to 2018,” said Brian Andrews, Chief Financial Officer of General Cannabis. “During the first six months of the year, we have increased our focus on securing significant consulting contracts in emerging markets across the country and providing wholesale products to new and existing customers. Both efforts have resulted in significant increases in Operations revenue compared to the prior year. Security revenues were negatively impacted by customers deciding to forego guard services and slower than expected growth in California. We continue to explore additional revenue streams within the Security segment, such as camera monitoring design and installation, and product transport. In response to lower revenues from Chiefton, within our Consumer Goods segment, over the course of the last three months we have eliminated annualized overhead by approximately $350,000 in order to better match our cost structure to estimated potential revenues.”
Michael Feinsod, Chief Executive Officer and Executive Chairman of General Cannabis, stated, “It was a busy quarter with a focus on our existing businesses while making significant other operational and business improvements as described in this release. We expect these steps to reap benefits over the near term.
“We have recently opened our new CBD store and e-commerce website, STOA Wellness, which offers a curated collection of quality products designed for high performance athletes. We strive to offer high quality products derived from sustainably sourced plants. We believe this sets us apart and offers our customers a unique experience. We trust these factors will generate growing Consumer Goods revenue through the remainder of the year.
“In addition to growing our existing lines of business, we are excited to embark in the coming months on multiple potential acquisitions we have announced as HB-1090 is implemented. As of today, we have entered into non-binding term sheets for approximately 45,000 square feet of cultivation space, a processing facility and adult use (recreational) dispensaries. Our operating history and Colorado experience have proven to be strong attractions as we engage with potential Colorado partners. To date, each of the proposed transactions would keep existing management teams in place. We look forward to moving forward with these transactions and integrating these new teams into our General Cannabis family. We believe that upon completion, these strategic acquisitions will create synergistic opportunities that will allow us to leverage our skill sets to help our customers succeed.”
With more real-time sales and revenue data coming to the forefront each week, investors and consumers now have a better assessment of real CBD demand and sales and a more accurate picture of how the true CBD market is coming into focus. We can expect to see more sales data over the coming months, especially once the FDA does release clearer guidelines for the industry, expected later this year.
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