Kaya Holdings Inc. (OTCMKTS:KAYS) Announces Its Development Plan For The Next Stage Traditional And Innovative Brands

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.

Business MMJ

Kaya Holdings Inc (OTCMKTS:KAYS) Reports Substantial Growth In Revenues For 3Q2016

Kaya Holdings Inc (OTCMKTS:KAYS) filed its financial results for the 3Q2016, yesterday, recording a gain of 700% in terms of revenue, on a year-over-year basis. The company noted that all of its revenues for the quarter were generated by its cannabis business, rather than other non-cannabis related endeavors. Moreover, the management claimed that it was on track to reach its target of $1 million sales, for the FY2016.

In the accompanying update, the company provided details about the progress of two new Kaya Shack marijuana superstores, being developed by the company. Moreover, Kaya also announced that it has acquired the services of David Kotler, a former prosecutor, with experience in helping companies in their initial phase of medical marijuana licensing. He also has extensive contacts across the marijuana industry, across the nation. Kaya has announced that Mr. Kotler would be responsible for leading the company’s expansion plans, nationwide. Added to this, with the passing of the proposition 64, the company has decided to construct a broad and well rounded executive team, to head out expansion plans in the new and emerging markets.

Kaya Holdings’ CEO, Craig Frank, revealed that the management thought that it was the right time to explore other opportunities, other than their continued expansion in Oregon. He also expressed confidence in the appointment of Mr. Kotler, as the head of national expansion. Commenting on his appointment, Mr. Kotler stated that he believed his job at Kaya was to provide sound guidance on matters relating to licensing and advise connecting where needed.

For its 3Q2016, Kaya recorded revenues of over $263,000 and a gross profit of over $137,000, as compared to a gross loss of $831, in the previous year. However, KAYS also experienced a surge in operating expenses, which increased by approximately three folds, on a year-over-year basis. The majority of this surge was attributable to professional fees. As such, net loss for the 3Q2016 was over $1.12 million, as compared to $1.11 million, in the previous year.

Kaya Holdings Inc (OTCMKTS:KAYS) had a trade volume of 1.09 million and gained 3.7% in terms of its share value, during the November 22 trading session, to reach a close at $0.084 per share.

Pin It on Pinterest