Company Posts Qtrly Report Ending December 31, 2015
Dallas, Texas – 23 February 2016 – North American Cannabis Holdings, Inc. (USMJ) today announced posting its quarterly financial report for the period ending December 31, 2015.
The Company entered the emerging cannabis sector in the fall of 2013 founded on the core belief that cannabis makes people's lives better - fighting disease, improving wellness and doing so in an environmentally sustainable manner. Under its subsidiary, the American Seed & Oil Company, North American Cannabis Holdings has conducted a number of various pilots in the legal cannabis sector - one of which led to the launch of the AmeriCanna Cafe. Today the Company continues to conduct ongoing cannabis sector pilots while continuing to develop the AmeriCanna Cafe.
In its most recent finical report posted yesterday for the quarterly period ending December 31, 2016, the Company reported $137,000 in revenue reflecting a 47% increase over the previous quarter. Gross profit increased 39% quarter to quarter totaling $71,000. Overall income form operations improved 47% quarter to quarter with the Company substantially reducing its burn rate.
Management anticipates revenue and margin increase to continue and accelerate in the future with the rollout of new retail stores and through the introduction of the recently announced EVERx Sports and Fitness Nutritional Supplements.
The quarterly report for the period ended December 31, 2015 includes a number of additional notable growth and sustainability indicators such as the continued reduction of legacy liabilities associated with operations prior to the Company’s launch into the cannabis sector. The report also includes important narrative updates, one of which encompasses the latest progress on the upcoming dividend distribution of Puration, Inc. stock to be issued to North American Cannabis Holdings’ shareholders. The North American Cannabis Holdings, CEO, Steven Rash plans to release a more detailed online presentation this coming Thursday, February 25th reviewing the latest progress reported in the quarterly report ending December 31, 2015.
About North American Cannabis Holdings, Inc.
North American Cannabis Holdings, Inc. (USMJ) is founded on the core belief that cannabis makes people's lives better. Cannabis can fight disease, improve wellness and do so in an environmentally sustainable manner. North American Cannabis Holdings is dedicated to finding the best possible applications for cannabis to serve consumers. For more information please visit http://www.growusmj.com.
Follow the company on Twitter: https://twitter.com/US_HEMP.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.