Business
LiveWire Ergogenics Announces Increased Revenue and Net Profit for the Second Quarter of 2022 and Provides Outlook Through 2023
LiveWire Ergogenics Announces Increased Revenue and Net Profit for the Second Quarter of 2022 and Provides Outlook Through 2023.
About this update from Livewire Ergogenics, Inc.
[{"type":"text","content":"\n Anaheim, CA, Aug. 15, 2022 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, leasing, licensing, and managing special purpose real estate properties conducive to producing high-quality, handcrafted, and sun-grown cannabis products for medical and recreational adult-use in California reports financial results for the second quarter 2022.  Bill Hodson, CEO of LiveWire Ergogenics, states, \"The past several months have been trying times for the cannabis industry. We have seen cannabis cultivators abandoning their licenses, overextended retailers, distributors and delivery businesses shutting down, and manufacturing facilities putting up 'For Sale’ signs. Several factors are in play, from post-pandemic oversupply to an extremely painful tax hierarchy, further complicated by a burdensome compliance system. Despite all of this, or maybe even because of this, we see tremendous opportunity in these turbulent times.” “We have used the terms 'staying in our lane' and ‘running a lean operation’ on multiple occasions and will continue to follow that business strategy moving forward. Based on what we have achieved over the last year, we are convinced LiveWire will continue to get stronger while the rest of the industry softens. Our strategy of cannabis real estate ownership, management, licensing operations, and marketing the products while running a tight organization will prove to be successful. We operate on low overhead and strict economic principles. We have engaged a passionate team of qualified, seasoned individuals to produce a superior product worthy of our \"Estate Grown Weedery\" branding and marketing. We believe this focus will be the right direction in the months and years to come.\" “We continue to expand our operations aggressively yet cautiously to the maximum capacity allowed by the County and the State at Estrella Ranch. We utilize our passionate team's intense experience from our Humboldt facility, along with Central Coast legacy farmers, which has established and managed the operation at Estrella Ranch to cultivate the best possible handcrafted and sungrown product in California. We believe the increasing number of consumers will soon understand it’s not just about THC content but also the terpenes, flavonoids, and cannabinoid...