Yield Growth Reports Q3 Results with Consistent Revenue Growth over 6 Consecutive Quarters with Revenue of $1.9 Million in Q3, up 61% from Q2


Ryan Allway

October 29th, 2019

News, Top News


Vancouver, British Columbia–(Newsfile Corp. – October 29, 2019) – The Yield Growth Corp. (CSE: BOSS) (OTC: BOSQF) (FSE: YG3) on a consolidated basis (the “Company”, “us”, “we”) has released financial and operational results for the third quarter ended August 31, 2019. These filings are available for review on the Company’s SEDAR profile at www.sedar.com.

Financial Highlights

We have achieved record quarterly revenue in the third quarter of 2019. Revenue increased by 61% to $1.9 million in Q3 2019 compared to $1.2 million in Q2 2019, and increased by 355% compared to $0.4 million in Q3 2018.

Beginning in Q2 2018, we have achieved steady growth in revenues over the past 6 quarters to date, as set out in the chart below:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6377/49200_PR_WEB_Q3-FinancialsResized.jpg
Figure 1: Last six-quarter revenue growth.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6377/49200_PR_WEB_Q3-Financials.jpg

Net losses decreased by 55% to $1.9 million in Q3 2019 compared to $4.1 million in Q2 2019, and decreased by 50% compared to $3.7 million in Q3 2018.

We also made significant progress in building up our assets and are well positioned for future growth. Total assets increased by 149% to $6.5 million from $2.6 million at 2018 year-end. Net assets increased by 250% to $4.7 million from $1.3 million at 2018 year-end. Working capital increased by 91% to $3.4 million from $1.8 million at 2018 year-end.

We have no commercial debt, no short-term loans, no long-term loans and no convertible debentures.

Strategic Achievements:

Apart from record financial results, we also accomplished a few strategic milestones in business and operations including:

● We attained Oregon Liquor Control Commission (OLCC) final approval for 9 Wright & Well™ products, allowing our products to be sold through cannabis retailers in Oregon of the United States;

● We obtained Compliance Certificates for registration in the European Union for various Urban Juve™ products, allowing our products to be sold and distributed in the European market, in addition to Canada and US;

● We expanded market reach by entering into multiple license and distribution agreements for our products to be distributed worldwide, including Canada, US, Greece, Cyprus, Brazil and Colombia;

● We enhanced our marketing strategy to boost brand awareness, including our products being featured on Leafly, one of the largest cannabis websites in the world, and in high-profile magazines, British Vogue, Vanity Fair UK, and Elle Canada;

● We increased our market presence by having products available for sale on Shopper, an exclusive ecommerce marketplace by IPSY, beauty box subscription giant;

● We progressed with the development of our product line expansion through the completion of stability and preservative challenge tests for 9 new hemp products;

● We expanded our product distribution network and expect to deliver next quarter approximately $150,000 of Urban Juve™ products to a US company and $100,000 of Urban Juve™ products for distribution in Greece; and

● We have built up momentum in launching a few brands and commercializing our branded products as illustrated below:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6377/49200_c132b47584f97b4e_003full.jpg

Figure 2: Brand Milestones Q1, 2019-Q1, 2020

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6377/49200_c132b47584f97b4e_003full.jpg

The following is a summary of our Q3 2019 results:

August 31, 2019 November 30, 2018
Current Assets $ 5,006,406 $ 2,563,102
Non-Current Assets 1,494,855 49,243
Total Assets $ 6,501,261 $ 2,612,345
Current Liabilities $ 1,583,982 $ 773,552
Non-Current Liabilities 258,447 509,589
Total Liabilities $ 1,842,429 $ 1,283,141
Shareholders’ Equity $ 4,658,832 $ 1,329,204

 

Three months ended August 31, Nine months ended August 31,
2019 2018 2019 2018
Revenue $ 1,895,751 $ 416,650 $ 3,872,879 $ 2,415,579
Net Loss for the period $ (1,869,647 ) $ (3,737,120 ) $ (9,805,599 ) $ (7,189,137 )

 

About The Yield Growth Corp.

The Yield Growth Corp. is building and operating hemp, cannabis and edible mushroom assets in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers, Best Buy and Aritzia. Its all natural hemp skin care brand, Urban Juve, has signed distribution agreements in Canada, Columbia, Brazil, Greece and Cypress and through its distributor network has access to over 8,000 retail locations. Urban Juve has been featured in UK Vogue, Vanity Fair UK and Elle Canada and has an alliance with leading online beauty community, ipsy. Yield Growth’s Wright & Well brands are launching a THC/CBD line of topical products in Oregon and a CBD from hemp topicals line in California this fall. Jack n Jane is launching cannabis products in Canada in 2019. Yield Growth is launching a line of edible mushroom wellness products in 2020.

Through its subsidiaries, Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It had filed 12 patents to protect its extraction method and formulas. Yield Growth is in revenue through multiple streams including licensing, services and product sales.

For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.com and #findyourjuve across social platforms to learn, engage and shop.

Investor Relations Contacts:

Penny White, President & CEO

Kristina Pillon, Investor Relations

invest@yieldgrowth.com

1-833-514-BOSS 1-833-514-2677

1-833-515-BOSS 1-833-515-2677

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, intellectual property protection, and sale of, and demand for, Urban Juve, Wright & Well, Jack n Jane and UJ Topicals products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Network Partners

Follow Us on Social Media

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed 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 results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, 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. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, 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.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, 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. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, 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.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading