American Green Hits Operational Breakeven In 2020
Source American Green
PHOENIX, AZ, Feb. 19, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Today, American Green (ERBB:OTC) is proud to announce that, as of this quarter, the company has achieved operational break even for the first time since it entered the cannabis sector. The company’s president, David Gwyther, stated, “It’s been a long haul, to be sure. While we have been making progress toward becoming self-sustaining for quite a while, the company has continually needed outside investor dollars to cover shortfalls as they arose. Now, without the need to fund operating deficiencies whenever they arose, the company will need to borrow less; thus, slowing the need for capital and the resulting issuance of additional outstanding shares. Borrowing, when necessary, will now only be limited to actions intended to increase the company’s bottom line in the near, medium, and long-term.”
American Green operates 3 divisions:
● The Medical Cannabis Grow Management Division - The company maintains and operates a 12,000 sq ft high-quality medical marijuana grow facility in Phoenix, AZ for its licensor, Natural Herbal Remedies. American Green spent almost $3 million transforming what was a defunct rebar manufacturing facility into a state-of-the-art medical cannabis grow operation. The premium crop, which is harvested in weekly cycles, is grown indoors under a long term building lease. The company made several major adjustments following its December board meeting that enabled the division to become cash flow positive on a monthly basis. The general manager of the company’s medical cannabis operations is Bryan Croteau.
During most daytime hours, shareholders can witness, first hand, the company’s high-grade product being grown in its Phoenix facility, affectionately dubbed “Sweet Virginia,” because of its location on Virginia Avenue. (https://americangreen.com/live/). Shareholders may also go to the main American Green website and click on the “LIVE” tab at the top during most business hours to view the action.
● The American Green Online CBD Store - The company’s CBD store provides pharmaceutical-quality CBD products to people who need them throughout the United States. “We have employed new efficiencies in our manufacturing processes which have allowed us to consistently provide new products based on consumer demand and our team has passed these efficiencies on to the consumer, creating more competitive pricing throughout our entire product line,” says Kevin Davis, Vice President of Worldwide Sales. “The store has doubled its product offerings in the past year as we never stop searching for more CBD products of the highest quality to offer our new and repeat customers. Store revenue is projected to double again in 2020,” concludes Davis. American Green Shareholders receive an every-day discount of 20% on most store offerings (PROMO CODE: INVESTOR) which can be viewed at https://americangreencbd.com/shop/..
● American Green’s Proprietary AGM (automated vending machine) Division - Headed by Lindel Creed, Vice President of Machine Vending, is located in the company’s Charlotte (NC) area facility, American Green has been perfecting its fully-automatic vending kiosk that is able to identify age-appropriate users, and dispense controlled products to patrons on the spot. The American Green AGM has been designed to dispense CBD, Beer, Cannabis or other products, wherever licensed and lawful, and can confirm the actual identity of the user through 21st Century vein-reading technology that is far more accurate than fingerprint recognition technology. American Green has been working to perfect the integration of this technology for over 3 years and is seeing an increase in sales for its machines in 2020. Shareholders may assess the AGM and its features by visiting here: https://americangreen.com/kiosks/.
According to Mr. Gwyther, “The company certainly acknowledges that 2019 has been a trying year for us and our shareholders, but as our divisions expand and improve, I project that 2020 will be the ‘Year of American Green.’ It’s only appropriate because on April 20, 2020 at 4:20 in the afternoon, it will be ‘420’ four times on the same day.”
Please consider subscribing to our The American Green CBD Store Weekly Deals where we hand-select a collection of CBD products that have been marked down 20-75% with deals reset every Friday. American Green shareholders receive a 20% discount (see below) and we securely process all credit card sales in the US which has become an extremely valuable security feature in the CBD sector.
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Save up to $150.00 on authentic American Green Apparel (while supplies last).
Promo codes work for all Mystery Boxes through Friday, February 21st (12:01 AM EST).
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About American Green, Inc.
American Green, Inc. became, in 2009, America’s second publicly-traded company in the cannabis industry. Now, with over 60,000 individual certified shareholders, more than any other company in the cannabis sector, American Green's mission is to lead the cannabis and premium CBD industry. Leveraging our team of professionals in cultivation management, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives in the cannabis-adjacent and CBD industries, laser-focused on adding company and shareholder value.
