Business
Greenlane to Present at National Investment Bankers Association (NIBA) Conference in Florida on September 5, 2024
Company to Share New Vision for GrowthUpdate on steps to realign and simplify its business structure, bring a stronger focus to serving customers, enable a
About this update from Greenlane Holdings, Inc.
[{"type":"text","content":"Company to Share New Vision for GrowthUpdate on steps to realign and simplify its business structure, bring a stronger focus to serving customers, enable a more competitive cost model, and better position the company for future growth and improved profitability BOCA RATON, FL / ACCESSWIRE / August 27, 2024 / Greenlane Holdings, Inc. (\"Greenlane\" or the \"Company\") (NASDAQ:GNLN), one of the premier global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced that its Chief Executive Officer, Barbara Sher, will participate in the National Investment Banking Association's (NIBA) 150th Investment Conference on September 4-5, 2024 in Ft. Lauderdale, Florida. Management will present and conduct one-on-one meetings with NIBA members, including over 250 investment bankers, boutique corporate finance professionals, specialized investment brokerages, private equity groups, venture capital groups, hedge-fund managers, and institutional investors. The member firms of NIBA represent over 8,800 registered representatives with an estimated $100 billion assets under management.\"Today Greenlane is leaner and more focused, allowing our teams to innovate faster and deliver on our promise to better align our expense base with our current revenue trends,\" said Barbara Sher, Chief Executive Officer for Greenlane. \"The actions taken in the first half of 2024 and going forward are designed to make us a more efficient, uncomplicated, and quicker-moving company. As part of this strategy, we recently reported that our general and administrative expenses decreased by approximately 59.8%, for the three months ended June 30, 2024, compared to the same period in 2023 while our net loss was approximately $632 thousand compared to $9 million for those same periods.\"Sher added, \"We will remain vigilant on controlling costs and driving efficiencies while prioritizing profitable revenue growth. After the close of the second quarter, we strengthened our balance sheet through the previously announced public offering, which is expected to provide us with additional financial flexibility to drive revenue and earnings growth. Our recent announcement to be the exclusive distributor in the U.S, of Safety Strips, Inc.'s fentanyl, xylazine and drink spike detection test strips is a great example of ...