Cannabis Sativa Reports $459786 Revenue in Q3, Revenues for Nine Months ended September 30 up 137% over first 3 Quarters of 2019 – GlobeNewswire

Mesquite, Nov. 17, 2020 (GLOBE NEWSWIRE) — MESQUITE, NV / November 17, 2020 / Cannabis Sativa, Inc. (OTCQB:CBDS) reports revenues of $459,786 for Q3, and $1,674,021 for the nine months ended September 30, 2020, up 137% compared to the nine months ended September 30, 2019. “We are pleased to report strong numbers during this pandemic as our telemedicine portal PrestoDoctor (https://prestodoctor.com) helps patients in California, Nevada, New York, Oklahoma, Missouri, Pennsylvania and Illinois seeking medical cannabis recommendations in the safest way” said President David Tobias. “There has been a broadened acceptance of telehealth due to the Corona virus.” The Company is currently exploring expansion opportunities in additional states, including Ohio, Virginia, and Massachusetts.PrestoDoctor’s expanded market area and heightened advertising have been driving an increase in patient visits to our online platform and a general expansion in consumer awareness of the PrestoDoctor brand. PrestoDoctor reported $1,602,599 revenues in those nine months ended September 30, 2020.GK Manufacturing and Packaging subsidiary was in the start-up phase for the nine months ended September 30, 2020. Revenue and operating efficiencies were impacted by the pandemic, as was the learning curve required for the labor force to become familiar with the manufacturing equipment, the cost of moving into a new facility, and the need to build a backlog of customer orders to streamline the production process. The start-up phase has taken longer than expected, primarily due to the pandemic, however management expects these negative factors to lessen in the coming periods and is currently focused on building its customer base and product line. “The CBD product market in the U. S. is estimated at over $1.7 Billion in 2020, and GK Manufacturing & Packaging, as a CBD product formulator, contract manufacturer, and fulfillment center is poised to gain greater market share in 2021 as celebrity brands and start-up brands

Read More Here...

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top