• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Nevada Cannabis Company Reports Record June Revenues

July 7, 2017

 (Image Credit - Investment Zen

 

This morning, Friday Night Inc. (CSE:TGIF)(OTC:VPGDF) announced that its 91% owned subsidiary, Alternative Medicine Association, achieved record revenues in the month of June.

 

 

About Alternative Medicine Association (AMA)

 

Alternative Medicine Association owns and operates a licensed medical and adult use marijuana cultivation and production facility in Las Vegas, Nevada. The company produces its own line of cannabis extracts, as well as manufactures products for third-party brands. One of these third-party brands is Gilla Inc. (OTC:GLLA). Gilla recently entered into a production and licensing agreement with Alternative Medicine Association to launch Gilla's new portfolio of cannabis concentrates.

 

Record Monthly Revenues 

 

In the month of June, Alternative Medicine Association's gross revenues were $902,000 CAD. On a month over month basis, revenues grew by $611,000 CAD or 210%. This growth was attributable to retail demand in preparation for the start of adult-use sales on July 1st

 

Expansion Plans 

 

Due to the increased demand related to adult-use sales, Friday Night Inc. is looking at real estate in and around Las Vegas with the goal of finding a larger facility for AMA, allowing them "to take full advantage of the current landscape".  


Management Commentary

 

Friday Night Inc.’s CEO, Mr. Brayden Sutton had this to say about AMA and their record June revenues:

 

"Timing is everything and we feel that every day counts in this sector as it evolves so quickly. American roots, but global growth; we have a first-mover advantage in Las Vegas that will only last so long. While we are elated with the increasing performance of AMA, we are also in a constant state of evaluating additional accretive opportunities to further our brand around the world."

 

Market Reaction

 

In early trading Friday, shares of Friday Night Inc. are up roughly 17% on the CSE. The company's OTC Markets symbol hasn't traded today. After getting hit hard in the markets following their IPO, shares of Friday Night Inc. are still down more than 18% from their IPO price of $0.30 CAD. 

 

Conclusion

 

We're working on a marijuana stock profile for Friday Night Inc., so check back soon and be sure to subscribe to our marijuana stock newsletter to find out when it becomes available. 

 

In the meantime, find more developments out of Nevada as adult-use sales kick off by checking out our Nevada marijuana news page. Also, be sure to connect with The Daily Marijuana Observer on FacebookTwitter and Instagram

 

D/M/O

 

Disclaimer
 
Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.

 

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.