Sweet Virginia’s growth continues to outperform prior revenue numbers
Phoenix, ArizonaAnd January 31, 2023 (GLOBE NEWSWIRE) — via NewMediaWire — Today American Green (ERBB: OTC) announced that during its most recent quarter, revenue increased 69% over the same period last year.
The company’s installation of new LED lights, dehumidifiers, and new growth management technologies has dramatically increased production in the “Sweet Virginia” cannabis growing operation.
David J Gwether“We’re very excited to see a significant increase in revenue in our cannabis numbers from Q2 2022 to Q2 2023,” said American Green’s president. Revenue increased 69%, despite no crops being made in any of the last four. Times upgraded.rooms even December 13th.
Our previous crop yields in fully renovated cannabis growing rooms produced an average of 126% in revenue increase over rooms that were not upgraded. All 10 grow rooms have now been fully refurbished and are functional, growing premium cannabis on a continuous harvesting cycle. We expect this quarter’s numbers to nearly double from the same period last year.
The growing numbers show that we were right in making the decision to upgrade Sweet Virginia’s electrical service and grow the equipment.”
|Proceeds from the Sweet Virginia Department of Agriculture|
|Fiscal Year 2023 – Second Quarter vs. Fiscal Year 2022 – Second Quarter|
|fiscal quarter||Total revenue *|
|Q2 2022 (October-December)||$||515259|
|Q2 2023 (October-December)||$||874,522|
|*Revenue numbers for the second quarter of 2023 are preliminary|
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About American Green, Inc.
in 2009, American Green, Inc. It became the second publicly traded US company in the cannabis sector. American Green, with more than 50,000 approved beneficial shareholders, is one of the largest (in number of shareholders) in the cannabis sector. American Green’s mission is to lead the premium hemp and CBD industry. Leveraging our team of professionals in managing cultivation, manufacturing, extraction, wholesale and retail trade, and community outreach, we strive to develop sustainable initiatives in the adjacent hemp and CBD industries, laser-focused on adding company and shareholder value.
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American Green, Inc.
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Notes about forward-looking statements
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in Securities and Exchange Commission Reports and filings. Certain statements in this release that are not historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be contained in the safe harbors created under that law. – Forward looking statements because they involve unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, expectations, projects, plans, expectations, intentions, belief, similar expressions, and the context in which they are used. These statements are based on the company’s current expectations and are spoken only as of the date they are made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date they were made.
Source: American Green, Inc.