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Jacksam Corporation DBA Convectium Announces Strong First Quarter Results With Sales Of $1.78m, Increasing 171% Y/Y And 40% Q/Q. Restructuring Efforts Taken Over Past Year Also Led To First Ever Quarter Of Operating Profitability
Jacksam Corporation DBA Convectium Announces Strong First Quarter Results With Sales Of $1.78m, Increasing 171% Y/Y And 40% Q/Q. Restructuring Efforts Taken Over Past Year Also Led To First Ever Quarter Of Operating Profitability.
About this update from Jacksam Corporation
[{"type":"text","content":"\n\n\n\nJacksam Corporation DBA Convectium Announces Strong First Quarter Results With Sales Of $1.78m, Increasing 171% Y/Y And 40% Q/Q. Restructuring Efforts Taken Over Past Year Also Led To First Ever Quarter Of Operating Profitability\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\nJacksam Corporation DBA Convectium Announces Strong First Quarter Results With Sales Of $1.78m, Increasing 171% Y/Y And 40% Q/Q. Restructuring Efforts Taken Over Past Year Also Led To First Ever Quarter Of Operating Profitability\nPR Newswire\nNEWPORT BEACH, Calif., May 13, 2021\n\n\n\nNEWPORT BEACH, Calif., May 13, 2021 /PRNewswire/ -- Jacksam Corporation dba Convectium (OTCQB: JKSM) (the \"Company\" or Jacksam/Convectium), a workflow automation company focused on developing machinery and equipment solutions for the cannabis and CBD industry, announced today strong 1st quarter sales of $1.78M which increased 171% from Q1 of 2020 and 40% sequentially from Q4 2020. The increase in sales was primarily driven by new products including the \"Pre Roll-ER\" that the Company began selling in late 2020. Additionally, demand for the Company's \"core\" filling and capping equipment continued strong growth driven by field partnerships with cartridge providers. Over the past 15 months, the Company has adopted an \"open source\" business model enabling the majority of cannabis and CBD oil producers to benefit from its filling and capping equipment by working with all leading cartridge and POD providers. \nThe Company also turned an operating profit for the first time in its history. Commenting on the news, Jacksam/Convectium CEO Mark Adams stated: \"Our Q1 results can be directly attributed to the Company's restructuring efforts and execution on our new strategy enacted in 2020. We came through a very tumultuous late 2019 and early 2020 with the EVALI (vape) crisis which led directly into the Covid crisis which we are still dealing with today. We were able to execute on our strategy to diversify our product offerings to include automated flower equipment and continue the development or our industry...