Business
GSRX Industries Inc.’s CEO Talks About the Growing Puerto Rico Market and Future Plans for the Company with Uptick Newswire’s Stock Day Podcast
GSRX Industries Inc.’s CEO Talks About the Growing Puerto Rico Market and Future Plans for the Company with Uptick Newswire’s Stock Day Podcast.
About this update from Gsrx Industries Inc
[{"type":"text","content":"\nPHOENIX, Nov. 06, 2018 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB: GSRX), through its subsidiaries, is in the business of acquiring, developing and operating retail cannabis dispensaries, and is in the process of expanding its business to include the cultivation, extraction, manufacturing, and delivery of cannabis and cannabinoid products. Leslie Ball, Chief Executive Officer, talked with Stock Day’s Everett Jolly.\n Jolly started the interview by mentioning they have only been in business for a year and are already posting revenue. Total revenues generated were $706,428, an increase of 100% from the quarter ended June 30, 2018. Gross profit was $255,052, an increase of 66.6% from the prior quarter. Jolly said the company must be excited with those metrics. A recent release from the company shows this growth was due to the revenue generated by the Company’s Green Spirit RX dispensaries in Puerto Rico and The Green Room in California. “We have 4 stores open in Puerto Rico, they’ve been open anywhere from 7 or 8-months ago, to just a few weeks ago. We’ve got one dispensary open in Mendocino County [CA],” explained Ball. “We manufacture a very unique item, we have a patent pending, and we also have an extraction business we are investing in.” Ball went on to say on the retail side the company is doing extremely well and they will have several more stores open shortly. He said they are also looking for more opportunities and that they have very “robust” plans. Jolly then mentioned that they are not in Colorado nor in Washington or Oregon. He wanted to know why. Ball explained that in Colorado a company must be 51% locally owned and that GRSX wants to own 51% for reporting. He said they looked closely at a property in Washington and it wasn’t what they wanted at this time. Jolly then asked for a general update and future outlook. “We’ve only got 4 or 5 stores open and we are going to have 11 in the very near future. We’ve got this product called Dragon Glass, it’s patent pending and is a very unique product,” explained Ball. “It’s superfood, it’s water soluble. It’s flakes when put under your tongue. It’s probably the only edible that has no sugar, no fat, no calories, and is healthy because of the base...