Business
GB Sciences Increased Sales 400% Since First Harvest
GB Sciences Increased Sales 400% Since First Harvest.
About this update from Gb Sciences, Inc.
[{"type":"text","content":"\n\n\n\nGB Sciences Increased Sales 400% Since First Harvest\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGB Sciences Increased Sales 400% Since First Harvest\nPR Newswire\nLAS VEGAS, Oct. 23, 2017\n\n\n\nLAS VEGAS, Oct. 23, 2017 /PRNewswire/ -- GB Sciences, Inc. (OTCQB: GBLX) projects sales of $500,000 in October and continued sales of at least $500,000 per month over the next three months. GB Sciences recorded unaudited sales of approximately $320,000 in the three months ended 9/30/17.\n\n\n \n \n\n \nThe company is operating at 200 grow lights, which is only 30% of its expected final capacity after build out is completed. After the final build out, cultivation revenues will continue to increase with a target flower capacity of $18Million annually. The company is expected to open its production facility in late November or early December of 2017. This operating unit should generate additional significant free cash flow from oil over 2018 at a steadily accelerating pace. \n\nGB Sciences' Cultivation Labs™ yielded a first harvest the last week in June 2017. Between July 1st and September 31, 2017 the initial crops or 'spins' were harvested and sold. These first crops were used to give valuable feedback on everything from nutrients, to irrigation, to environmental controls. These initial crops have led to producing a very high quality medical grade cannabis.\n\nThroughout the third quarter, the propagation and cultivation systems continued to be refined and the quality of the cannabis flower improved. This improved flower quality has also improved the sales price per gram. In the month of October alone, premium flower sales have yielded $500K.\n\nLas Vegas adult use sales for the first month of operation were twice those generated by Colorado during their first month of adult use, and seven times that of Oregon and Washington. This high demand has produced a cannabis shortage in Nevada. All revenue projections are subject to fluctuations in the wholesale price of cannabis in the Nevada market. \n\nGB Sciences is now beginning the packaging and distribut...