- LVVV generated 935% jump in Q3 2019 revenues over last year; net income for 2019 quarter rose
- LiveWire accelerating build-out of ‘weedery’ at Estrella Ranch, taking aggressive measures to increase revenue
- LVVV seeking to become one of first truly vertically integrated, high-end cannabis companies in California
LiveWire Ergogenics Inc. (OTC: LVVV), a company operating within the health and wellness industry and focused on special purpose real estate acquisitions and the licensing and management of fully compliant turnkey facilities engaged in the production of cannabis-based products and services in California, recently documented significant net income gains for the three and six months of 2019. These figures, along with its emphasis on both producing and distributing world-class cannabis throughout the state of California, illuminate the company’s unique positioning in the ever-evolving cannabis industry.
In its report, the company noted a 935% boom in revenues, reaching $184,200 for Q3 2019 from $17,790 the same period the prior year (http://nnw.fm/K1uBh). For the 2019 quarter – the three months ended September 30 – LVVV showed a net income of $94,749 compared to a loss of $1,717,712 reported for the comparable period in 2018. Additionally, the company reported a gross profit of $177,240 in the 2019 quarter compared to a loss of $27,119 for the same period in 2018. The company has also improved its balance sheet, showing current assets of $3,081,048 and exceeding current liabilities by $539,570 as of September 30, 2019.
LiveWire has a statewide cannabis-distribution license from the California Bureau of Cannabis Control. Its facility in the central part of the state is seen as the base for the company’s activities and development of high-end brands with the cooperation of its strategic partners. Additionally, LVVV is working to create the world’s first estate-grown ‘weedery’ at the Estrella Ranch, located in central California. By keeping overhead low and making strategic, economical use of working capital while improving its asset base, LVVV remains laser-focused on its mission of “doing it right”—literally, from the ground up.
“Our acquisition of the Estrella Ranch property in Paso Robles, California, in June 2019, propelled us into the next stage of the company’s business plan to become one of the first truly vertically integrated and high-end cannabis companies in California,” said LVVV CEO Bill Hodson.
As revenues and profits grow, LVVV said the company is accelerating the build-out of its ‘weedery’ and taking aggressive measures to generate additional revenue. With that end in mind, LiveWire is creating the high-quality Estrella Weedery brand.
“To capitalize on the increasing market demand, we have positioned ourselves as the world’s first estate-grown weedery at Estrella Ranch and will produce only the highest quality Craft Cannabis in a unique microclimate, which we consider the farm of the future,” said Hodson. He also noted that LVVV is seeking to emulate the model of designations-of-origin similar to the wine industry. That strategy is designed to create a unique, profitable and sustainable business, he said. LVVV believes consumers will appreciate the family-farm style of locally produced cannabis products.
LiveWire is focused on acquiring, managing and licensing specialized, cannabis-permitted, turnkey locations to produce cannabis-based products and services in California and distribute those products statewide.
For more information, visit the company’s website at www.LiveWireErgogenics.com
NOTE TO INVESTORS: The latest news and updates relating to LVVV are available in the company’s newsroom at http://nnw.fm/LVVV
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork.