• 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

Kush Bottles Q3 2017 Financial Results Breakdown

July 13, 2017

 

This morning, Kush Bottles Inc. (OTC:KSHB) released and filed its third quarter 2017 financial results. There are a few highlights of the financials worth looking at:

 

  • Revenues for Q3 2017 were $4,719,477 compared to $2,322,638 for Q3 2016. Approximately $1,250,000 of the increase can be attributed to revenues generated by CMP Wellness (a company Kush Bottles recently acquired) from May 1, 2017 to May 31, 2017. The remainder of the growth is attributable to growth in number of customers, average order size and order volume. 

  • Cost of goods sold for Q3'17 was $3,1556,290 compared to $1,588,302 for Q3'16.

  • Gross profit in the third quarter of 2017 was $1,563,187 compared to $734,336 in the year ago quarter.

  • Operating expenses increased 120% from the year-ago quarter to $1,554,448. This increase is attributable to increase in stock compensation, payroll, professional fees (related to the CMP Wellness acquisition) and rent. 

  • Other expenses decreased by 49% or $2,525 due to lower interest expense on vehicle loans.

  • Net income in Q3 2017 was $6,119 , compared to $23,284 in the third quarter a year ago. 

  • Basic weighted average common shares outstanding were 51,805,930 as of May 31st, 2017 compared to 50,458,416 at the conclusion of the third quarter of 2016. 

  • Diluted weighted average common shares outstanding were 53,334,232 as of May 31st, 2017 compared to 50,458,416 as of May 31st, 2016. 


In addition to the financial highlights noted above, there were a few other notable points in the filing and release.

 

Through their acquisition of CMP Wellness, a California-based distributor of vaporizers and accessories and their acquisition of Roll-Uh-Bowl.com's online distribution platform the company is expanding its reach beyond cannabis packaging. 

 

Kush Bottles has also added two new distribution partners in Hawaii and Puerto Rico, expanded their Nevada sales team and appointed Kevin Nguyen to lead the Supply Chain & Logistics team

 

Conclusion 

 

Learn more about Kush Bottles by checking out the company's marijuana stock profile in The Daily Marijuana Observer's cannabis stock database

 

Be sure to subscribe to one or more of The Daily Marijuana Observer's free e-mail newsletters so you never miss an important cannabis industry update. Also, don't forget 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/.