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Marijuana

1933 Industries Inc (OTCMKTS:TGIFF) Reports Revenues Of $3.1 Million CAD In Q2 2020

1933 Industries Inc (OTCMKTS:TGIFF) has reported revenues of $3.1 million CAD in Q2 2020. It is a decline of 20% when compared to the previous quarter and on the backdrop of transition from the old facility to the new cultivation facility.

Completes two capital projects

1933 Industries has completed two capital projects in Q2 2020. It has completed the new cultivation facility in Las Vegas. AMA (Alternative Medicines Association), a subsidiary of 1933 Industries, has commenced the production in the newly established Las Vegas cultivation facility.

As part of a management accord signed with Green Spectrum Trading Inc, 1933 Industries has expanded the production and cultivation operation to California to support licensing partners and consumer packaged goods. The projects, which spans two quarters, require additional resources and extensive capital spending.

The company has established local manufacturing to produce the Canna Hemp line of cannabidiol products in compliance with California standards. 1933 Industries has unveiled THC concentrates under the AMA brand.

Attracts premium brands in Nevada

1933 Industries has included The Pantry Company, an edible brand, and Bloom, a premier cannabis brand in its portfolio. It also attracted premium brands in Nevada. The company has utilized some resources to bring infrastructure projects in California and Nevada online. As of Q2, 2020, the company maintains a cash balance of $9.1 million CAD for ongoing operations. The company has realized a negative margin of $776,000 because of absorbing the cost to maintain shelf space. It has incurred additional expenses for biomass procurement from third parties and overheads of the cultivation facility.

1933 Industries has reported the first harvest in Q2 from the new facility in Nevada. It will continue the future harvests from this Nevada facility. The company expects to reduce the above-mentioned expenses going forward and produces sufficient biomass from the harvests. It will use the biomass as input to the products.

Outlook

1933 Industries focuses on reducing nonessential costs. It maintains cash reserves and boosts sales growth. The company also strengthens the brands as well as the distribution nationwide. Despite receiving permits, the construction of THC Lab will not move ahead as planned because of the uncertainty created by the coronavirus pandemic. It will enhance the production of THC concentrates from the existing facility.

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Marijuana

1933 Industries Inc. (OTCMKTS:TGIFF) To Transfer Cultivation Licenses To New Las Vegas Facility

1933 Industries Inc. (OTCMKTS:TGIFF) has reported that they have received the Nevada Department of Taxation and Clark County approvals permitting the company totransfer its cultivation licenses to the new cultivation facility. This means the company has achieved the requisite steps to commence the transfer of cannabis plants.

Approvals enable transfer of cultivation licenses

Legal Counsel and Executive Vice President Caleb Zobrist stated that the company has been working closely with the State of Nevada and Clark County authorities for a smooth transfer of its cultivation licenses from the old facility to the current new one.He added that since the company now has licenses in place it will start cultivation operations on its new facility immediately.

So far all the work in the site has been completed and the company will commence the transfer of cannabis plants to the new facility. This included around 200 moms and 5,000 clones that are supposed to populate the facility with the goal of completing six rooms or two full zones in the first phase within a week. It is expected that the clones will vegetate for around four weeks prior to the flowering cycle.

New facility to produce 700-800 lbs. of flower per month

The Cultivation Director Tim Spencer stated that the company is currently acclimatizing the plants to be transferred in new rooms to make sure that life support systems such as irrigation, humidity, lighting, and temperature controls are optimally performing as designed. After the new facility starts to function fully and all systems are optimized, 1933 Industries will be in position to produce between 700 and 800 lbs. of dried flower each month. This will be utilized in the company’s AMA branded Concentrate and flower products that are currently being sold in various licensed dispensaries in Nevada.

Spencer added that the plant varieties were correctly chosen relative to their terpene profiles and quality. The company aims at cultivating premium cannabis that will enable the company to produce quality concentrates for the Nevada market. He added that the company was delighted to begin working with OG DNA Genetics once they start operations in the new facility.

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Marijuana

1933 Industries Inc (OTCMKTS:TGIFF) Reaches Expansion Milestone With Over 800 Retail Outlets

1933 Industries Inc (OTCMKTS:TGIFF) recently celebrated a key expansion milestone in the U.S after opening more than 800 retail outlets for its cannabis brands.

The achievement highlights the company’s commitment to expanding its business into more areas as part of its strategy to expand its CBD Brand Distribution. So far the impressive number of retail outlets allow 1933 Industries to achieve coast-to-coast distribution in the U.S. Although it has impressive figures, the company intends to continue expanding in line with its plan to provide customers more access to its Canna Hemp™ brand.

“We have been extremely successful at building our own distribution channels across the country, which is now one of the largest networks of CBD and a key differentiator of our Company,” stated 1933 Industries president, Ms. Ester Vigil.

Vigil also pointed out that her company’s integrated market approach might attract third-party partners. This is particularly because TGIFF basically controls all the processes from cultivation, extraction, marketing, manufacturing, and sales. It also handles the branding, as well as distribution. It also plans to commence CBD processing before the end of 2019.

The Canna Hemp brand consists of more than 70 agricultural hemp-based, high-quality products infused with CBD. The products also focus on a wide variety of effects. Market analysts and researchers forecast that CBD sales will reach $20 billion in the U.S market alone by 2024.

1933 Industries receives permanent occupancy permit for Las Vegas facility

1933 Industries recently announced that it was awarded a permanent residency permit for a facility located in Las Vegas, Nevada. The facility is important for the company’s operations in Las Vegas, especially as far as its expansion plans in the state are concerned.

TGIFF CEO Chris Rebentisch stated that his company was pleased about moving into the new facility, as well as commencing operations. The firm expects the facility to increase its flower cultivation by five-fold and this will also boost the growth of its AMA branded products. The facility will therefore be accretive to the company’s revenues in the future and even help it to attract more business partners in the future.

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Marijuana

1933 Industries Inc (OTCMKTS:TGIFF) Enters A Pact With Alternative Medicine Association LLC And Gotti’s Gold Ex LLC To Introduce Gotti’s Gold Branded Cannabis Products In Nevada

1933 Industries Inc (OTCMKTS:TGIFF) has signed an accord with Alternative Medicine Association LLC (AMA) and Gotti’s Gold Ex LLC to unveil Gotti’s Gold branded Cannabis products in alliance with Kurupt, a legendary hip hop artist, in Nevada. The deal is valid up to November 9, 2019. It can be extended for a period of another 12 months.

Premium cannabis products

1933 Industries is targeting the premium cannabis products for adult users in Nevada. The Gotti’s Gold premium cannabis products comprise Gold Nuggets, pre-rolls, premium flower, concentrates, and CBD cartridges. The premium cannabis products will be unveiled at Las Vegas biggest 420 celebration on April 20, 2019. Canna Hemp, a brand of 1933 Industries, sponsors the event on April 20. The company will distribute the premium products using its own distribution networks to the licensed dispensaries across Nevada.

Chief Operating Officer of 1933 Industries, Joe Bleackley said the company has partnered again with Kurupt for introducing Goti’s Gold in Las Vegas. Kurupt has chosen AMA as the partner for the premium products because it delivers quality products consistently.

Improved awareness

Kurupt said the decision to launch the Gotti’s brand of premium cannabis products is to improve awareness among all genres of customers. The users will experience the quality of cannabis products. He further said an alliance with 1933 Industries will open a plethora of opportunities across the world and in the US.

Q2 results

1933 Industries has reported revenues of $3.72 million CAD in Q2 2019. Its net loss is estimated at $2.93 million CAD. It has a cash balance of $8.81 million CAD as on January 31, 2019. The revenues of AMA are estimated at $1.289 million CAD.

The sales revenues of Infused MFG are estimated at $2.39 million CAD in Q2, 2019. Founder and Chief Operating Officer of Infused MFG, Chris Rebentisch said the company has reported a steady growth of 54% as on the date in sales revenues. The company is experiencing dramatic improvements in yields after the appointment of a master grower. Despite reporting slower sales, AMA will benefit from the modern cultivation facility going forward. The company will record higher margins on improved quality and higher yields since it need not to depend on third party materials.

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Marijuana

1933 Industries (OTCMKTS:TGIFF) Moves A Step Closer To Dominating The Us Cannabis Market Via Expansion Of Cultivation Facilities

During the last two months, 1933 Industries (OTCMKTS:TGIFF) has signed a number of deals aimed at taking it a step ahead of competition. Additionally, the company recently announced that Alternative Medicine Association (AMA), its subsidiary, is moving closer to relocating to a new facility.

At the moment, the new facility is in the penultimate phase of completion after which AMA will receive a Temporary Certificate of Occupancy (TCO). As per the announcement, the facility will be operationally ready in 3 to 4 weeks after receipt of the TCO. The Certificate of Occupancy will be available after state and county authorities finalize the inspection approvals.

The new facilities to ramp up production of cannabis flower

For starters, 1933 Industries specializes in production of concentrates and cannabis flower. Also, the company manufactures wellness products using CBD derived from hemp. Since the US legalized the cultivation and processing of the crop, the company is working extra hours to exploit the opportunity. Therefore, moving into the new facility will ensure that there is enough capacity to meet the ballooning demand for CBD-based wellness products.

In addition to AMA moving to new facilities, the subsidiary entered a co-branding partnership with OG DNA Genetics, Inc. Notably, the agreement will see AMA “cultivate, manufacture, sell and distribute co-branded cannabis products.” Essentially, AMA will exploit the DNA brand to launch itself in the State of Nevada market. The partnership will run exclusively for two years from when it becomes active.

1933 Industries on the path to market dominance

On the other hand, DNA will provide expertise that will facilitate the development of cannabis genetics. This is includes facilitation of the whole process from breeding of the crops to processing. Through the expertise, DNA hopes to help AMA achieve a consistent phenotype strain that will enable the partners to produce cannabis flower that is of high quality.

Additionally, 1933 Industries said in a statement that it will close the purchasing deal for Infused MFG to make it an absolute subsidiary. Initially, the firm had purchased only 91% of the total share. As per the statement, the company will fork out $1.25 million CAD to complete the deal. Ultimately, the company will be right on the path to market dominance.

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Marijuana

Friday Night Inc (OTCMKTS:TGIFF) Granted License For Hemp Processing Facility

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.

Company’s performance

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.

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