Business
DVLP Updates Financial Performance, Signals 160% Overall Growth Across Multiple Segments
DVLP Updates Financial Performance, Signals 160% Overall Growth Across Multiple Segments.
About this update from Golden Developing Solutions, Inc.
[{"type":"text","content":"\nDENVER, June 17, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis, Hemp, and CBD marketplace, is excited to announce updated financial data as the Company’s growth rate continues to accelerate following key strategic moves, including expanded production capacity and the acquisition of Infusionz, LLC (“CBD Infusionz”). In combined terms, the Company booked over $629K in monthly sales in May alone, with an annualized sequential monthly sales growth rate of nearly 160%.\n “As we projected, topline performance is accelerating across all metrics following our recent investments,” stated DVLP CEO, Stavros Triant. “Everything is clicking right now. CBD Infusionz has moved into its expanded facility and the booming demand continues unphased. And our Where’s Weed segment is powering ahead at the same time. We couldn’t be more excited about how we are positioned right now and what we see ahead of us in coming months and quarters.” The Company notes sharply accelerated growth since completing its acquisition of CBD Infusionz. That acceleration is showing up across all segments. For example, the Company’s powerhouse Where’s Weed segment, an online and mobile cannabis services hub, booked $135K in sales in April, and $153K in sales during the month of May. That equates to 164% in annualized sequential monthly sales growth. For its part, CBD Infusionz showed similarly exceptional growth, taking in $421K in April sales, followed by $476K in May sales, extrapolating to an extraordinary 158% rate of growth (in annualized sequential monthly terms). In addition, the Company also notes that sales to a new client domiciled in Israel have become a salient factor spurring further growth potential. This one Israeli customer drove nearly $43K in sales during all of calendar Q1 2019. But that rate has begun to accelerate, with recent orders already jumping to a level on pace for potentially $198K in June sales, representing as much as a 1,300% increase in total volume from already material levels. “We are quite possibly the only name in the monster Hemp/Cannabis/CBD growth phenomenon that is demonstrating rapid expansion on both the services and product...