IPW Archives - Green Market Report

Debra BorchardtFebruary 15, 2022
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Hydroponic equipment company iPower Inc. (Nasdaq: IPW) reported its financial results for its fiscal second quarter ended December 31, 2021, with total revenue increasing 52% to $17.1 million. iPower said that the increase was driven by greater in-house product sales and strong demand for ventilation products. The company reported that its net income increased 39% to $0.8 million or $0.03 per share.

“Our fiscal second quarter marked our strongest period of year-over-year revenue growth since completing our IPO last year,” said Lawrence Tan, CEO of iPower. “We are beginning to realize the benefits of continuously rolling out new high-demand, in-house branded products. During the quarter, our in-house product sales increased approximately 72% from the year ago quarter and accounted for approximately 87% of revenue—a company record. These increases demonstrate how well our products are resonating with consumers. In addition, our ability to deliver these products on a timely basis despite global supply chain headwinds provides an important asset to our channel partners.”

The company also reported that the gross profit in the fiscal second quarter of 2022 increased 53% to $7.6 million compared to $4.9 million for the same quarter in fiscal 2021. As a percentage of revenue, the gross margin was 44.1% compared to 44.0% in the year-ago quarter. This small increase in gross margin was driven by a greater mix of in-house product sales partially offset by higher freight and input costs.

“Over the past few months, we have also executed on multiple key growth initiatives, including the launch of our first in-house nutrient line, Flourish™, as well as our initial expansion into Europe through the UK and Germany. Although both initiatives are in their infancy, we believe they present compelling new avenues to drive growth and increase market share.”

iPower noted that the total operating expenses in the fiscal second quarter were $6.4 million compared to $4.1 million for the same period in fiscal 2021. As a percentage of revenue, operating expenses were 37.5% compared to 36.4% in the year-ago quarter. The increase was driven by higher sales volumes, increased advertising to support the launch of new products, as well as increased headcount for new channel sales.

iPower CFO Kevin Vassily added, “We are continuing to navigate the volatile supply chain environment, which has not materially improved since our last quarterly report despite signs of recovery last fall. We plan to continue mitigating the cost volatility through our diversified network of partners and continue to expect fiscal 2022 to be another strong year of growth and execution for iPower.”

Cash and cash equivalents were $1.0 million at December 31, 2021, compared to $6.7 million on June 30, 2021. The decrease was attributed to the timing of accounts receivables with the company’s largest channel partner and is not an indication of any other business or operating trend. Total long-term debt as of December 31, 2021, was $7.4 million compared to $0.5 million as of June 30, 2021. The increase was attributable to increased working capital expenses.


Peggi CloughDecember 13, 2017
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Yvonne DeLaRosa Green received the Business Woman of the Year Award by the Industry Power Women (IPW) on November 16 in Las Vegas. DeLaRosa Green was honored with the prestigious award for her entrepreneurship and activism in the cannabis industry.

“I feel so honored to receive the first Businesswoman of the year award from IPW—it’s a culmination of a decade of compassionate care and activism and the beginning of a new era in the cannabis industry,” said DeLaRosa Green.

DeLaRosa Green first became acquainted with the medical cannabis industry when her mother was diagnosed with breast cancer. She was dismayed by the choice of dispensaries with which she had to take her mother, so she decided to open her own. After being awarded the first Cannabis Business License in Los Angeles, she opened an upscale dispensary and art gallery.

As founder and owner of 99 High Art dispensary in Venice Beach and 99 High Tide in Malibu, DeLaRosa Green is not only one of the few minority dispensary owners in Los Angeles, but she’s also the owner of the only licensed dispensary in Malibu. 99 has been named one of the best dispensaries by Rolling Stone Magazine, LA Weekly and High Times Magazine.

DeLaRosa Green is also a celebrated actress and activist who uses her position as a celebrity to educate others on the cannabis industry and the benefits of cannabis. She is a shrewd businesswoman, compassionate advocate, and pioneering activist—all reasons she was named the IPW Business Woman of the Year.

The launch event was a brunch with mimosas the same week as MJBizCon, the biggest cannabis industry event in the country. They presented three awards to women who have broken boundaries and who continue to lead the way for women in the industry, including The Business Woman of the Year award, Influencer of the Year, and an award for Leadership.

“The launch at MJBizCon is important because last year the issue of how women are viewed was encapsulated by the scandal #meatgate, where an edible company covered a woman with deli slices as a platter,” said co-Founder Ophelia Chong. “This year, the launch of IPW shows the power women have, the changes we have made, and most importantly, that we do this because the industry does not deign us a piece as a ‘feel-good’ move. It is because we are a major part as entrepreneurs and consumers and should be recognized as so.”

IPW is an organization created in 2017 by Cynthia Salarizadeh, founder, and CEO of the Salar Media Group, Debra Borchardt, founder of the Green Market Report, and Ophelia Chong, founder of Stock Pot Images, to offer women in the cannabis industry networking, support, and camaraderie.


Peggi CloughDecember 12, 2017
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Amber E. Senter was honored with the Leadership Award by the Industry Power Women (IPW) at their brunch and awards show on November 16 in Las Vegas. The Leadership Award was presented to Senter for her influence on the cannabis industry and her role in the advancement of women in it.

Senter has had successful careers both in and out of the cannabis industry. She is a Coast Guard veteran and has spent her life helping others. Senter also had a lucrative career providing design and marketing services to Fortune 500 companies.

After moving to California to work full-time in the cannabis industry, Senter co-founded Leisure Life, a lifestyle and infused edibles company, where she is Chief Executive Officer (CEO). Her infused popcorn was well-reviewed in 420Reviews. Senter is also CEO and co-founder of the preroll brand California Rolls. Her vast knowledge of both medical and recreational cannabis are revered by others in the industry, making her a sought-after speaker at business conferences.

In 2015, Senter co-founded Supernova Women, a nonprofit organization committed to helping women of color prosper in the cannabis industry. Supernova Women focuses on helping women network and on empowering them through education.

Since becoming Chief Operations Officer (COO) of Magnolia Wellness and COO of Eureka Management Services, Senter has continued to mentor and lead women, especially women of color, who look to her for coaching and as a role model.

Amber E. Senter at the IPW brunch.

The IPW launch event was a brunch event with mimosas the same week as MJBizCon, the biggest cannabis industry event in the country. They presented three awards including The Business Woman of the Year award, Influencer of the Year, and the award for Leadership.

“The launch at MJBizCon is important because last year the issue of how women are viewed was encapsulated by the scandal #meatgate, where an edible company covered a woman with deli slices as a platter,” said co-Founder Ophelia Chong. “This year, the launch of IPW shows the power women have, the changes we have made, and most importantly, that we do this because the industry does not deign us a piece as a ‘feel-good’ move, it is because we are a major part as entrepreneurs and consumers and should be recognized as so.”

IPW is a networking organization for female entrepreneurs and business leaders in the cannabis industry. It was started in 2017 by Cynthia Salarizadeh, founder and CEO of the Salar Media Group, Debra Borchardt, founder of the Green Market Report, and Ophelia Chong, founder of Stock Pot Images, in order to give women an alliance and an opportunity to support one another. IPW plans to recognize exceptional women in the cannabis industry at an annual awards ceremony.


Peggi CloughDecember 8, 2017
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Amanda Reiman, Ph.D., MSW, was presented with the Influencer of the Year Award by the Industry Power Women (IPW) last month in Las Vegas. Reiman received the award for her continuous research and contributions to the cannabis industry.

“I like to think of myself as a mentor more than an influencer. I teach people how to think, not what to think. Hopefully winning this award means I have achieved my goal of being a mentor to women in this industry.” said Reiman.

Reiman’s interest in the cannabis industry was piqued when she first became aware of the culture of medical cannabis dispensaries in Oakland. She was surprised and encouraged by what she called the “social model of cannabis care.” This led her to public health research, with a focus on cannabis as a substitute for alcohol and other drugs.

When she worked as Manager of Marijuana Law and Policy for the Drug Policy Alliance, Reiman fought to bring about a legalization initiative recognizing how the war on drugs unjustly impacted people of color. She also taught at UC Berkeley, School of Social Welfare, for 11 years, where she offered students a supportive environment in which they could talk about difficult issues.

Reiman is currently Vice President of Community Relations at Flow Kana, a branded cannabis distribution company that works with small, outdoor farmers. There she continues to coach women who are new to the industry. In addition to that, she is the Secretary of the International Cannabis Farmer’s Association, a non-profit that advocates for research and policies that favor sun-grown cannabis cultivation through traditional farming methods. Her career achievements, along with her work mentoring women, are examples of why Reiman was chosen for the IPW Influencer of the Year Award.

“The launch at MJBizCon is important because last year the issue of how women are viewed was encapsulated by the scandal #meatgate, where an edible company covered a woman with deli slices as a platter,” said co-Founder Ophelia Chong. “This year, the launch of IPW shows the power women have, the changes we have made, and most importantly, that we do this because the industry does not deign us a piece as a ‘feel good’ move, it is because we are a major part as entrepreneurs and consumers and should be recognized as so.”

IPW was founded by Cynthia Salarizadeh, founder, and CEO of the Salar Media Group, Debra Borchardt, founder of the Green Market Report, and Ophelia Chong, founder of Stock Pot Images, to give women in the cannabis industry an environment of support and strength. IPW plans to host an annual awards ceremony recognizing outstanding women in the industry.


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