Freedom Leaf Inc (OTCMKTS:FRLF) has hired Mr. Nick Shi, a biomedical engineering graduate of Purdue University, to focus on hemp extraction, as well as the distillation of Leafceuticals Inc. The engineer is also responsible for North Las Vegas based refining laboratory.
Leafceuticals Inc is a wholly owned subsidiary of Freedom Leaf. The manufacturing and extraction unit, Leafceuticals produces wholesale hemp CBD oil, rare cannabinoids, terpenes, and other by products derived from industrial hemp using NuAxon CO2 supercritical extraction.
The Co-founder and Chief Executive Officer of Freedom Leaf, Mr. Clifford Perry said the addition of another engineering graduate from Purdue University to the team of experts of Freedom Leaf will help to add the best scientific/ engineering design to Hempology CBD products and the extraction facility of Leafceuticals.
Director (Digital Marketing) of Freedom Leaf, Mr. Chris Tompson and another alumini of Purdue University said Mr. Nick will contribute to improve product quality, and expedite production of Hemp products. He will also help to reduce the operating costs of the products and boost revenues.
Leafceuticals is expanding the production facility in North Las Vegas by constructing additional fully functional laboratories for the extraction of hemp CBD, distillation and refining. Mr. Nick will be an invaluable asset for these facilities of Leafceuticals.
The company has accrued revenues of $50,000 from the pilot production of hemp flowers in this quarter. The company is expected to increase sales from hemp flower to $65,000 from April 2018 onwards each month. Freedom Leaf is expected to increase monthly revenues to $100,000 once the labs are fully functional and within five months of operation.
After installation of NuAxon BioScience, Inc’s 50 Liter Supercritical CO2 Extractor in its lab, the company is expected to generate monthly revenues of $300,000. The installation will be completed in 9 months.
Freedom Leaf Inc Focuses on Acquisition of Revenue Generating Firms
In order to increase revenues, the company is also focusing on taking over of revenue generating firms. The company’s recent acquisitions include LaMarihuana.com, Green Market Europe S.L. and Irie CBD.
The company has entered into an asset purchase accord with Irie CBD in March 2018. Irie CBD is engaged in the formulation, production and distribution of CBD topicals, CBD edibles, CBD tinctures and CBD tinctures.