The Yield Growth Corp. (CSE: BOSS) (OTC: BOSQF) released financial and operational results for the third quarter ended August 31, 2019, as revenue increased by 61% to $1.9 million a sequential jump over the second quarter’s $1.2 million. It increased by 355% over last year’s $0.4 million at the same time period.
Net losses decreased by 55% to $1.9 million in Q3 2019 compared to $4.1 million in Q2 2019 and decreased by 50% compared to $3.7 million in Q3 2018. The company said its total assets increased by 149% to $6.5 million from $2.6 million in 2018 year-end. Net assets increased by 250% to $4.7 million from $1.3 million at the 2018 year-end. Working capital increased by 91% to $3.4 million from $1.8 million at the 2018 year-end.
Yield Growth has no commercial debt, no short-term loans, no long-term loans, and no convertible debentures.
The Yield Growth Corp. is building and operating hemp, cannabis and edible mushroom assets in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers, Best Buy and Aritzia. Its all-natural hemp skincare brand, Urban Juve, has signed distribution agreements in Canada, Columbia, Brazil, Greece, and Cypress and through its distributor network has access to over 8,000 retail locations.
Urban Juve has been featured in UK Vogue, Vanity Fair UK and Elle Canada and has an alliance with leading online beauty community, ipsy. Yield Growth’s Wright & Well brands are launching a THC/CBD line of topical products in Oregon and a CBD from hemp topicals line in California this fall.
The company received an Oregon Liquor Control Commission (OLCC) final approval for 9 Wright & Well products, allowing them to be sold through cannabis retailers in the state. The company also increased its market presence by having products available for sale on Shopper, an exclusive e-commerce marketplace by IPSY, beauty box subscription giant.