Kaya Holdings Inc. (OTCMKTS:KAYS) has announced the filing of its quarterly report on Form 10-Q with the SEC for the quarter ended June 30, 2019.
The Form 10-Q also contains the 2019 Kaya Farms Harvest Crop Reports as well as details of the recent agreement the company entered with Franchise Academy.
Agreement for the establishment of Kaya Shacks Retail program
The signed agreement with Franchise Academy is about the company’s Kaya Shack Retail Cannabis Program. Franchise Academy is a top Canadian franchise development and sales group renowned for its international franchise systems. The group signed an agreement with Kaya Holdings in July to create and implement the Kaya Shack Retail Cannabis Program that is targeting 75 to 100 outlets in Canada by 2024. This, however, is subject to regulatory and market approval.
Development of Next Stage Traditional and Innovative Brands
This year’s Summer Kaya Farms crop harvest yielded about eights varieties of cannabis of which seven of them posted tests results of CBD content of more than 20%. The strains include Chem 91, Zurple Punch, Sour OG, Cherry Chem, Citrus Sap, Nigerian Silver, and Unicorn Delight all which had CBD content between 20% and around 26%.
The filed document also contains the development and implementation plan for the Next Stage Traditional, and Innovative Brands of the company. The company is growing its Kaya Shack Family brands and the Next Stage Tradition brands which include Syzygy Extracts, Kumba Extract, Soothe Tropical, and Kaya Yums. Kaya is also developing Next Stage Traditional brands such as Uptown Shaman, Pakalolo Juice, Kind Catering, and Tony Giggles Pleasure Foods. The products are expected in the market this year with a multi-state rollout expected next year.
The CEO of Kaya Holdings stated that the company has successfully met its goals in the first half of 2019. He added that they have managed to minimize operating costs in Oregon and solidified their position with two cultivation sites, the launching of proprietary brands as well as preparing to expand into Canada.