Business
Pure Harvest Corporate Group Reports Third Quarter Results and Provides Corporate Update from CEO in Letter to Shareholders
Pure Harvest Corporate Group Reports Third Quarter Results and Provides Corporate Update from CEO in Letter to Shareholders.
About this update from Pure Harvest Corporate Group, Inc
[{"type":"text","content":"\n GREENWOOD VILLAGE, CO, Nov. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Pure Harvest Corporate Group, Inc. (OTCQB: PHCG), a vertically integrated consumer products holding company focused on cutting edge plant-based nutraceuticals, recreational cannabis, hemp-derived health and wellness products, and other emerging industries, is excited to issue an open letter to shareholders from its CEO, Matthew Gregarek. Dear Fellow Shareholders, As we approach year-end, I am writing to inform you of the exciting developments and opportunities we are pursuing at Pure Harvest. While we have faced headwinds in the past, I believe we are well-positioned to move forward and grow our businesses across the board and I feel the opportunities presented will help us deliver additional value for our shareholders. Here is a brief recap of our third quarter results and significant developments. Quarterly Financial Statements On Monday, Pure Harvest filed its quarterly financial reports for the third quarter of 2021. The results are encouraging and show that we are still building on the foundation we put in place in 2020. Our total sales revenue for the quarter was $507,865 compared to $318,690 in the third quarter of 2020. At the end of Q3 2020, we had only recorded $323,731 in total revenue. In 2021, we have already exceeded $2,000,000 in sales and we are on course to record our best ever annual revenues. I am proud to report that Pure Harvest recorded an adjusted EBITDA of $2,020,520 for the nine month period ending September 30, 2021.  Much of the growth in Pure Harvest’s revenue stems from the successful acquisition of SKM in 2020 and the construction of a strategically located retail facility in Dumont, CO. In 2019, the last full year of operations prior to the acquisition, SKM generated just over $1,000,000 in total revenues and in 2020, SKM recorded slightly more than $1,500,000 in revenues. I am excited to share that as of September 30, SKM has generated more than $1,750,000 in total revenues. Thanks to the hard work and diligence of our plant-touching operations team, SKM’s business in Dumont is growing rapidly.  Kingpins International, Inc.  In July of this year, we entered into a share purchase agreement with a group called Kingpins International, Inc., which would have profoundly changed Pure Harv...