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AeroGrow International, Inc Announces Its Q2 Results

AeroGrow International, Inc (OTCMKTS:AERO) Pronounces Its Financial Results For 2019.

There was a major decline in revenue represented by a figure of about $4.4 million. Compared to a similar period in the previous year, this was a terrible performance.It is representative of about 48%.

Wolfe’s perspective

This President & CEO J. Michael Wolfe has spoken concerning the matter. He says that the loss in line with the company’s business operations amounted to about $1.1 million. According to the official, this wasn’t impressive at all. He drew a close reference to the performance that was showcased over the previous year. During the time, this company obtained $672K in profit. Wolfe says that the headline for the quarter will insinuate this major decline in sales.

Defending the performance

The official says that a decline in sales is one of those reports they give with a heavy heart. However, he defends the company outlining that what happened was something to do with poor timing. The official believes that they should have thought deeply before making decisions regarding their retail landscape.

The passage of time has witnessed the company collaborate with some of the major retail partners. Some of these include Kohl’s and Bed and Amazon.com, Inc (NASDAQ:AMZN).

This company says that these are good businesses to collaborate with when it comes to making shipments. It has been relying on them in the shipment of its load-in orders for the holiday season.

During the August/September period, this business guru entrusted these retailers with the shipment of a huge deal of its load-ins. In the current year as well, the company has also decided to make large shipments through them. The same will be going on from November to December.

The Gross Margin of the company turned out to be a major disappointment. This had everything to do with the decline in the quarterly sales as well as the channel shift. However, the company continues hoping for better times ahead. It says that it will be looking forward to its holiday sales.

There is also the brighter side of things. There were still some areas that performed pretty well including sell-thru results to the customers.

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Business

What Is Fueling Singlepoint Inc (OTCMKTS:SING) Growth?

The decriminalized marijuana market has been witnessing strong growth in North America. Sales surged 30% in 2016, making for $6.7 billion in retail activity in the U.S. and Canada. For firms like Singlepoint Inc (OTCMKTS:SING), which recently established a JV with First Bitcoin Capital Corp., strategic marijuana-centered deals are assisting fuel corporate growth while positively impacting the availability of packaging, equipment and payment solutions for the marijuana market.

The highlights

The cannabis industry gains from the plans of American Cannabis Company Inc (OTCMKTS:AMMJ), a manufacturer of a proprietary growing source, as well as from leading firms AbbVie Inc (NYSE:ABBV) and AeroGrow International, Inc. (OTCMKTS:AERO). A closer look at the growing demand for marijuana indicates the incredible market prospect presented to publicly traded cannabis firms as they create their own niches in a growing industry.

Just a couple of weeks after the State of Nevada approved the sale of recreational marijuana in the first week of July, almost 50 dispensaries registered to sell weed witnessed short of supply. With possible tax revenue of over $1 billion on the table II, Nevada state officials announced a state of emergency to permit the creation of new guidelines that would expedite the licensing procedure to support public demand.

A report by The Washington Post asserts that more than 40,000 transactions of recreational cannabis were recorded in the days after the commencement of sales. The number of transactions indicates the state of demand, along with the need for adequate payment alternatives as customers bring their goods to the counter. As marijuana is still prohibited on a federal level, there is a denial and hesitance from most banks when it is about providing banking services to the cannabis market, giving dispensaries few options other than dealing in cash. This is the point where Singlepoint steps in.

Recognizing other opportunities in the marijuana market, the company is expanding its acquisition portfolio to establish new investment prospects and boost the availability of products, technologies and equipment to support the sector’s growth.

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