CBD Global Sciences Reports Q3 2019 Results with Revenue of $1.79 million up over 1,000% from Q3 2018 Revenue of $144,000
05 Dezembro 2019 - 10:14AM
InvestorsHub NewsWire
CBD Global Sciences Reports Q3 2019
Results with Revenue of $1.79 million up over 1,000% from Q3 2018
Revenue of $144,000
Denver, Colorado-- December 5, 2019 - InvestorsHub NewsWire
-- CBD Global Sciences, Inc. (CSE: CBDN) (FSE: GS3) ("CBD Global" or the
"Company"), today announced the release of financial and
operational results for the third quarter ended September 30, 2019.
These filings are available for review on the Company's SEDAR
profile at www.sedar.com. All amounts are expressed in
U.S. dollars.
Financial Highlights
- For the nine months ended September 30, 2019 revenue growth of
800% increase to $4.9 million from $600,000 revenue in all of
fiscal 2018.
- The increase is attributed to a larger crop size, more
effective farming methods, and the harvesting of plants for
smokable and pre-rolled products.
- A larger variety of products sold in 2019 versus 2018.
- Addition of CBD products, smokable bud and clones sold in
2019.
- A larger crop harvest in 2018 (sold in 2019) versus crop
harvest in 2017 (sold in 2018).
- The 2019 crop is larger and more potent than 2018.
- Gross Profit (before fair value adjustments) increased to 74%
in 2019 from 4.9% in 2018. This was a direct result of increase in
the sales price per pound with the addition of smokable CBD
products and increased consumer demand.
- Assets and inventory:
- Larger amounts of biomass were harvested per plant in 2019
versus in 2018.
- Potency of CBD per plant continues to increase year over
year.
- The higher the potency of the plant generally will lead to more
efficient processing of the plant into CBD oil, which may translate
to a higher plant value.
- A small increase in cost of production per plant of $2.62 in
2019 versus $2.42 in 2018, due to a larger labor base.
Third Quarter 2019 Business Highlights:
- The Aethics brand products have expanded into new States and
locations with current and new retail partners which includes 248
news stores in Q3, this includes 238 major airports across the
U.S.
- Reorders are already coming in which presents strong sell
through with the selected products.
- Increased product depth with new CBD performance drops,
hydration drinks, and lotions.
"In an increasingly crowded and confusing CBD market, brands
matter, and CBD Global continues to be a trusted provider of
high-quality CBD product," said Brad Wyatt, CEO of CBD Global
Sciences. "Consumers are becoming more informed on choices of
product in the CBD market space and are directing their purchases
to the highest quality product and best value proposition."
ABOUT CBD GLOBAL SCIENCES INC.
CBD Global Sciences, Inc., is a vertically integrated hemp-based
CBD producer, extractor, and branding investment vehicle which
currently owns two product categories, branded under the name
AETHICS (www.aethics.com) and CANNAOIL (www.cannaoilshop.com), which include CBD Oil tinctures
(liquid products), CBD capsules, CBD topicals. CBD Global Sciences
hemp-derived CBD extracts are sold through select distributors,
brick and mortar retailers, and online.
CBD Global Sciences, through its wholly owned subsidiary,
Strasburg Pharms, grows and operates irrigated land in Colorado,
that grows hemp with only all-natural Colorado water, soil, sun and
nutrients and NEVER sprayed with pesticides or chemicals. Our
genetics are hand selected and maintained to present the best
cannabinoid profile with extremely high CBD. The
extraction/processing facility, operated by CBD Global Sciences, is
located approximately 40 minutes from the farm.
For further information, please contact Bruce Nurse,
Investor Relations, (888) 401-2239, info@cbdglobalsciences.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to future developments and the business and operations of the
Corporation after the CSE listing. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to general business, economic,
competitive, political and social uncertainties; and delay or
failure to receive board, shareholder or regulatory approvals.
Readers should not place undue reliance on forward-looking
statements. The Corporation disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
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