Leading California edibles manufacturer Plus Products (CSE:
PLUS) this morning announced its financial results for the three months ended
September 30, 2018. The update provided Q3 2018 financial highlights,
including: Record revenue of $2.56 million, reflecting a 617 percent increase
over the three months ended September 30, 2017 and a 60 percent increase over
Q2 2018; quarter-over-quarter retail sales growth of 104 percent to $8.0
million in Q3; gross margin of $0.38M (15 percent) for Q3 2018 compared to
-$0.17M (-48 percent) in Q3 2017; strong cash position of $11.1 million at end
of Q3, prior to closing of CAD$20 Million IPO on October 26, 2018.
“PLUS is a different kind of cannabis company,” PLUS CEO
Jake Heimark stated in the news release. “100% of our revenue is from wholesale
edible branded product sales. We believe branded edible market share is
difficult to earn, yet is one of the most important metrics of long-term
shareholder value. We are pleased that as measured by retail sales in Q3, the
PLUS brand is now the leading edibles brand in the largest and most competitive
cannabis market in the world, and we look forward to extending the brand beyond
California in 2019.”
To view the full press release, visit http://ibn.fm/1e5LO
About Plus Products
Plus Products is a branded products manufacturer based in
California. Its products consist of cannabis-infused edibles, which it sells to
both the regulated medicinal and adult-use recreational markets. PLUS™ is
currently one of the fastest-growing edible brands in California with several
top-selling products. All products under the PLUS brand are made with
high-quality ingredients and produced in the company’s dedicated 12,000-foot,
food-safe cannabis manufacturing facility in Adelanto, California, staffed with
chemists and food scientists. Plus Products received the eighth temporary
manufacturing license in California. The company’s mission is to make cannabis
safe and approachable — that starts with manufacturing high-quality products
delivering consistent experiences. For more information, visit the company’s
website at www.PlusProducts.com.
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment