Friday Night Inc (OTCMKTS:TGIFF) has been granted the authority to put up its planned Hemp processing unit. The company has reported that together with its subsidiary, Infused MFG it has received an Industrial Hemp Handler Conditional Certificate.
The certificate was given by the Industrial Hemp program which is a branch of the Nevada Department of Agriculture (NDA). However, the company cannot start processing until it submits the required Fire Inspection as well as Health Authority documents.
Proceed with its plans
Friday Night Inc pleasantly revealed that it will hence carry on with its intended hemp processing facility. The facility which is situated in Las Vegas, Nevada is referred to as CBD Isolate Lab.
Friday Night Inc is a public company which is listed in Canada. It boasts the possession and management of assets meant for both marijuana and hemp which are based in Las Vegas, Nevada. It also runs a consulting company that focuses on the global marijuana and mining security administration. It holds a 91% stake in Infused MFG which develops organic CBD products based on hemp.
On June 6, 2018, the Canadian company stated that it planned to house a different CBD Isolate Laboratory in its newly bought production facility. The lab would be used to produce CBD extracts from the processing of hemp biomass. These would then be used to develop distillates, isolates, and whole spectrum oils.
CEO of Infused MFG Chris Rebentisch explained that getting Industrial Hemp Handler Certificate was instrumental in the exercise of instituting the Isolate Lab. He affirmed that the new business of getting CBD extracts from processing wholesale hemp was a promising venture.
Friday Night made public its Q3 financial report for the period ending April 30, 2018. The company announced that its total sales amounted to $3,317,497 for the Quarter ending April 30. The Canadian firm generated a total revenue of $8,744,683 realizing a gross profit of $4,176,656 for the initial nine-month period.
The Q3 sales figure was $3,317,497, a significant rise from Q2 sales figure of $2,962,699. Friday Night’s Q3 gross profit stood at $1,463,550 compared to Q2’s which was at $1,579,127.
Friday Night Inc attributed the strong performance to its operations in the U.S market.