Plus Archives - Green Market Report

William SumnerWilliam SumnerNovember 30, 2018
stocks.jpg

4min8630

MPX Bioceutical Corporation

MPX Bioceutical Corporation (CSE: MPX) reported its financial results for the second quarter ended on September 30, 2018. MPX recorded revenue of CAD$14.7 million, up from CAD$4.4 million in the same quarter during the previous year. The increase in revenue was attributed to wholesale operations and the company’s management of four cannabis dispensaries in Arizona. Gross profits for the quarter rose by 30.1% to $4.4 million.

The company’s net loss for the quarter rose precipitously to CAD$19.2 million, up CAD$3.9 million in the same period during the previous year. The company attributes its losses to general operations, accretion expense of CAD$1.4 million and costs related to the change in fair value for the Hi-Med Facility and convertible loan for CAD$9.2 million.

“For the second quarter, we again experienced strong growth, with revenue increasing $10.3 million year over year, topping $14.7 million, driven by the strong performance of our Arizona operations and much-improved production from our facility in Nevada,” said W. Scott Boyes, Chairman, President, and CEO of MPX. “We continue to execute upon our aggressive expansion strategy, as demonstrated by the successful openings of the Health for Life dispensaries in Maryland managed by one of MPX’s subsidiaries.”

Plus Products Inc.

The California-based edibles manufacturer, Plus Products Inc. (CSE: PLUS) announced its financial results for the quarter ended on September 30, 2018. Revenue rose to $2.56 million, up 60% over the previous quarter. The company’s loss and comprehensive loss rose to $1.79 million, up from $1.21 million during the same period during the last year.

PLUS ended the quarter with a gross margin of $0.38 million (15%) and $11.1 million in cash on hand. Shortly after the end of the quarter, the company  went public and closed a CAD$20 million IPO

“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,” said Jake Heimark, CEO of PLUS.

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics Inc. (TSXV: EMH) reported its financial results for the third quarter ending on September 30, 2018. Revenue for the company rose to $321,070, representing an increase of 51% when compared to the same period in the previous year. Likewise, Emerald Health’s net loss also increased; increasing from $1.9 million in Q3 of 2017 to $6.26 million.

Shortly before the end of the quarter, Emerald Health was chosen as an authorized cannabis supplier by the Newfoundland Labrador Liquor Corporation (NLC), and by the last week of November had completed its first adult-use cannabis shipments to Newfoundland; as well as British Columbia and Labrador.

“As we move forward at this pivotal point of commercial production, we expect our Pure Sunfarms joint venture, Quebec facility, and hemp sourcing agreements to result in significant scaling of production and sales from the fourth quarter onward,” commented Avtar Dhillon, MD, President of Emerald Health.

 


StaffStaffOctober 18, 2017
plus-gum-jake-haimark-1-1280x960.jpg

3min18740
California-based edibles company Plus snagged two million dollars in a Series A financing led by The Green Opportunity Funds. The Series A Preferred Stock will be used to develop an automated production line and general corporate purposes. Matt Schmidt of The Green Opportunity Funds will join the board of directors.
“We are at an inflection point in the cannabis industry in California as recreational sales are set to begin next year,” says Matt Schmidt, President of TGOF Corp. “New consumers are starting to enter the market, and Plus has already demonstrated they have the right product portfolio to cater to these new entrants. I’m thrilled to join the board as Plus continues to grow rapidly.”
Plus is the manufacturer of a cannabis-infused product that launched in 2016 with its first product, Plus Gum and has since expanded its portfolio to include Plus Gummies. The company’s a focus is on providing healthy, tested and consistent cannabis experiences. Since its founding in 2015, Plus has advocated the application of cannabinoids for medical treatment to increase the quality of life for medical patients within California.
“Since launching Plus Gummies this spring, we have been overwhelmed with requests to continue to broaden our product line,” says Jake Heimark, CEO and co-founder “We’re excited to explore new opportunities with the same emphasis on innovation, consistency and testing that we have applied to Plus Gum and Plus Gummies.”
The company initially tested its products in Denver but then moved the company to California where the products are sold throughout the state. There is one review on Leafly that says, “Unlike the tropical, this gum has a good flavor and is fast acting. I’ve enjoyed many 4 hour buzzes and this is the gum to have.”
“Our patent-pending production process reduces the taste and smell of cannabis in our products,” says Justin Gwin, Chief Research Officer. “Our team is thrilled at the opportunity to continue to develop techniques and products that improve how consumers experience cannabis.” 


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 7 hours

48 hours left to register! This week in 200+ owners, , , and medi…

@GreenMarketRpt – 9 hours

You built your company, now what? Five Tips for Cannabis Companies Thinking of Selling

@GreenMarketRpt – 3 days

Our biggest fans this week: mmlg_llc. Thank you! via

Back to Top

You have Successfully Subscribed!