Business
GreenGro Technologies to Pursue New Three-Pronged Strategic Growth Initiative Designed to Establish First-Mover Advantage and Dominant Share of Booming Global AgTech Markets
GreenGro Technologies to Pursue New Three-Pronged Strategic Growth Initiative Designed to Establish First-Mover Advantage and Dominant Share of Booming Global AgTech Markets.
About this update from Greengro Technologies, Inc.
[{"type":"text","content":"Highlights:Company's successful restructuring plan - - responsible for the quick but temporary exit from the cannabis markets and redeployment of management's time and resources on the buildout of three different yet synergistic wholly owned subsidiaries - - streamlined operations and fueled the stellar financial performance thus far this fiscal yearRevenues in first half of current fiscal year increased over 800% from last year and enabled the Company to achieve a significant swing from a six-figure loss to a positive gross profit in both the first quarter and first half periods of the current fiscal yearBoard decision to pursue three-pronged growth initiatives targeting AgTech industry based on confidence in our strengthened management team and the industry's broad-based acceptance and adoption of our proprietary state-of-the-art technologies that could address the much larger AgTech markets, domestically and internationallyAnaheim, California--(Newsfile Corp. - September 21, 2022) - GreenGro Technologies, Inc. (OTC Pink: GRNH), an established provider of proven eco-friendly green technologies for the global agricultural industry, today announced it will be pursuing a new three-pronged strategic growth initiative designed to establish first-mover advantage and dominant market share of the booming global AgTech markets. \"We wanted to take an opportunity to provide our investors with a brief glimpse of the return on investment (ROI) we are experiencing as a result of our strategic restructuring plan and millions of dollars of investments in research and development. From a pure financial perspective, the ROI can be easily measured by the dramatic turnaround in our business units with revenue gains of 200% and 800%, respectively, for our second quarter and first half of the current fiscal year.\"Revenues Increase by 200% and 800%, Respectively, for its First Quarter and First Half of Current Fiscal Year\"The significant year-over-year gains in revenue coupled with a huge swing towards a positive gross profit for the same periods far exceeded even our wildest internal growth expectations,\" said James Haas, Chairman and COO of GreenGro Technologies, Inc. \"The quick and broad-based slowdown across the cannabis market had us convinced that revenue gains of this magnitude would not be possible let alone sustainable. And it did not ...