Business
American Green, Inc.™ (OTC:ERBB) Announces Revenue Up 20% for Last Quarter for its “Sweet Virginia” Cannabis Grow Facility
American Green, Inc.™ (OTC:ERBB) Announces Revenue Up 20% for Last Quarter for its “Sweet Virginia” Cannabis Grow Facility.
About this update from American Green, Inc.
[{"type":"text","content":"\n Anticipates a 55% Increase Year-Over-Year Quarterly Revenue in 2022 PHOENIX, AZ, Feb. 02, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Green, Inc. (OTC:ERBB) announced today that revenue for its second fiscal quarter ended December 31, 2021, will be $515,000. This represents an increase of over 20% compared to the prior fiscal quarter ended December 31, 2020, at the “Sweet Virginia” grow facility.  More importantly, the second fiscal quarter revenue ending December 31, 2022, is anticipated to increase an amazing 55%, up an estimated $285,000 to $800,000 for the quarter.  American Green president, David G. Gwyther, said, “We have been making consistent improvements to the Sweet Virginia facility for the past few years and it has been paying off with increased revenue and we will see more progress in the future.  From adding key staff members to the addition of another grow room that takes us to 11 rooms, to the current ongoing switch from “Double-Ended HPS” industry-standard grow lighting to state-of-the-art Efinity LED lighting, we are reaping the benefits.   After a full operating year with the new lights and with excellent plant management and plant science already in place, the grow will produce approximately $3,200,000 in annual revenue which will be up an approximate $1,200,000 from today’s annual revenue estimate of $2,000,000.  All of the cannabis grown at Sweet Virginia is sold only to Curaleaf Inc. and we have a sales contract to keep producing our premium cannabis for them until mid-2026.  We also have a renewal clause that has an additional three separate five-year periods when exercised.”   “Our newly under-construction 40,000 SF Cypress Chill cannabis grow also continues to make progress. In-house Chef, Dee Russell, a.k.a Edible Dee has fully designed the new state-of-the-art kitchen and has submitted her drawings to the Gierczyk architectural team for final approval. Chef Dee will now focus her attention on kitchen equipment purchases and start to develop American Green’s own brand of cannabis edible recipes, made specifically by her, for the company,” said Bryan Croteau, American Green’s Director of Operations. Check out our “live look-in” to see what is going on at our “...