Business
American Green Hits Operational Breakeven in 2020
American Green Hits Operational Breakeven in 2020.
About this update from American Green, Inc.
[{"type":"text","content":"\n PHOENIX, AZ, Feb. 19, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Today, American Green (ERBB:OTC) is proud to announce that, as of this quarter, the company has achieved operational break even for the first time since it entered the cannabis sector.  The company’s president, David Gwyther, stated, “It’s been a long haul, to be sure.  While we have been making progress toward becoming self-sustaining for quite a while, the company has continually needed outside investor dollars to cover shortfalls as they arose.  Now, without the need to fund operating deficiencies whenever they arose, the company will need to borrow less; thus, slowing the need for capital and the resulting issuance of additional outstanding shares. Borrowing, when necessary, will now only be limited to actions intended to increase the company’s bottom line in the near, medium, and long-term.” American Green operates 3 divisions: ●      The Medical Cannabis Grow Management Division - The company maintains and operates a 12,000 sq ft high-quality medical marijuana grow facility in Phoenix, AZ for its licensor, Natural Herbal Remedies.  American Green spent almost $3 million transforming what was a defunct rebar manufacturing facility into a state-of-the-art medical cannabis grow operation.  The premium crop, which is harvested in weekly cycles, is grown indoors under a long term building lease. The company made several major adjustments following its December board meeting that enabled the division to become cash flow positive on a monthly basis.  The general manager of the company’s medical cannabis operations is Bryan Croteau. During most daytime hours, shareholders can witness, first hand, the company’s high-grade product being grown in its Phoenix facility, affectionately dubbed “Sweet Virginia,” because of its location on Virginia Avenue. (https://americangreen.com/live/).  Shareholders may also go to the main American Green website and click on the “LIVE” tab at the top during most business hours to view the action. ●      The American Green Online CBD Store - The company’s CBD store provides pharmaceutical-quality CBD products to people who need ...