Vertically integrated cannabis technology company Generation
Alpha, Inc. (OTCQB: GNAL) this morning announced its operating results for the
three and nine months ended September 30, 2018. Among the highlights from the
nine-month period, Generation Alpha reported $2.6 million in revenue from its
lighting and nutrient offerings, as well as a cash balance of $2.1 million. The
company also reported “substantial progress” with the construction of its
Arizona facility, which is expected to commence processing revenue in early
2019. “We are happy with the progress being made at our 70,000 square foot
Arizona facility. With manufacturing targeted to commence in early 2019, we are
excited to soon move into the revenue generation stage,” Alan Lien, CEO of
Generation Alpha, stated in the news release. “While our lighting business has
seen a significant decrease this year, we are beginning to see an increase in
demand for our lighting and nutrient products as the industry begins to
stabilize and additional legalized states come on board.”
To view the full press release, visit http://ibn.fm/Q3Ke3
About Generation Alpha, Inc.
Generation Alpha, Inc. focuses on bringing products and
solutions to commercial cannabis growers in both the medical and recreational
space in legal markets across the U.S. For nearly a decade, growers have used
Generation Alpha’s lighting solutions to increase yield, lower costs and grow
better to maximize their return on investment. Generation Alpha’s customers
include retail stores, distributors, ecommerce, and commercial growers. In
2018, Generation Alpha expanded into the “touch-the-plant” side of the cannabis
business under a contract with an Arizona licensee and its ongoing build-out of
a cultivation and processing facility in Phoenix, AZ. For more information,
visit the company’s website at www.GenAlphaInc.com
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