Business
2020 Ends With the Passage of Recreational Cannabis in Arizona and Across-the-Board Improvements in Revenues and Operations for American Green
2020 Ends With the Passage of Recreational Cannabis in Arizona and Across-the-Board Improvements in Revenues and Operations for American Green.
About this update from American Green, Inc.
[{"type":"text","content":"Phoenix, AZ, Dec. 08, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Green (ERBB:OTC) announced today that despite the overall crumby Covid year we’ve all been having, the company has made significant progress in both overall numbers as well as in the company’s separate divisions. Company president, David Gwyther, and American Green’s division heads break it down.“Sweet Virginia” Managed Cannabis Grow in Phoenix, AZGross revenues from the company’s managed grow operation were 19% higher for the three months ending September 30, 2020, compared to the revenue for the same three-month period in the previous year. This improvement resulted in a division gross profit on our managed grow operation that was 15% higher for the three months ending September 30, 2020, compared to the revenues for the same three months during 2019. According to David Gwyther, “When considering all the hoops that our Site Manager, Bryan Croteau, had to jump through in order to stay one step ahead of Covid, he has done an amazing job keeping all the wheels on our cultivation cart.”According to Mr. Croteau, “Even though Recreational Marijuana has just been voted in by the people of Arizona, we are already seeing its expected positive economic impact. Many dispensaries in Arizona are buying more products than ever in anticipation of serving the state’s expected onslaught of new recreational customers arriving in the marketplace for the first time in 2021. The recent uptick in statewide sales has created a product shortage and, like any supply-and-demand situation, we are seeing increased prices for our premium quality products. We anticipate this will continue for some time until the market stabilizes. Meanwhile, we will continue to make tweaks and changes to further increase our yields making our Phoenix grow space as profitable as possible,” concludes Mr. Croteau.American Green’s Smart Vending DivisionThe American Green verified vending machine division is taking a giant step forward with an amazing new feature that will make signing into our AGM network of smart machines much simpler. According to the company’s principal vending consultant, Lindel Creed, “It’s called LiveOp - which integrates a live person into American Green’s ‘Over 21’ verification system. We believe our system will surpass currently ...