The company said it has never been in a better position to achieve sustainable and profitable top line revenue growth going forward
1933 Industries Inc () () reported that its company-wide total sales and open orders reached C$1.4 million in January, which it called a “significant milestone” as 1933 continues to scale-up production from its state-of-the-art Las Vegas cultivation facility.
The company also noted that its Alternative Medicine Association (AMA) cultivation subsidiary saw its revenue surge 113% increase year over year, which represents its strongest monthly sales to date since launching its AMA branded cannabis flower and pre-rolls in late August 2020.
“As seasoned operators, we are pleased with the progress to date and we believe that the company has never been in a better position to achieve sustainable and profitable top line revenue growth going forward,” 1933 Industries CEO Paul Rosen said in a statement.
READ: 1933 Industries expects stronger finances in fiscal 2021 as it looks to grow Nevada market share
He added: “Our execution strategy is completely aligned with our shareholders as we continue to build the business, utilizing our competitive advantages in operating large-scale cultivation to solidify a dominant position within our core market.”
“We continue to believe that saleable flower will remain the largest cannabis category, hence our commitment to enhanced cultivation and branding.”
1933 Industries said it expects to generate increased revenues and improved margins with higher volume, quality and consistency of saleable flower and biomass produced.
It added that AMA now has a genetic bank of 37 in-demand, premium craft flower strains, a best in class, scalable cultivation facility with no new capital deployment and improved overall output.
As well, the company said AMA will be launching three new pre-roll multipacks and one gram flower jars to its current portfolio of 161 AMA branded SKUs, as well as certain strains that have tested high for the cannabinoid CBGa, currently being studied for multiple medical applications.
1933 noted that Eugene Ruiz is no longer the company’s president.
1933 Industries is a vertically-integrated, growth-orientated company, focusing on the cultivation and manufacturing of cannabis consumer branded goods in a wide range of product formats. Operating through two subsidiaries, the company controls all aspects of the value chain with cultivation, extraction, processing, and manufacturing assets supporting its diversified portfolio of cannabis brands and licensing partners.
1933 also owns 91% of AMA, a licensed medical and adult-use cannabis cultivation and extraction subsidiary that produces its own branded line of unique cannabis products and manufactures third-party brands.
Contact Sean at sean@proactiveinvestors.com
