Investorideas.com releases a snapshot looking at the recently reported growth in CBD product sales and how this paints a more accurate picture of the CBD market
American Premium Water Corporation (Other OTC:HIPH)
POINT ROBERTS, WASHINGTON, UNITED STATES, August 21, 2019 /EINPresswire.com/ — CBD Product Companies Reporting Revenues (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.
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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.
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.”
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.
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.
General Cannabis Corp (OTC: CANN) 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.
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.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
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Source: EIN Presswire