web analytics
-0.8 C
Saturday, November 26, 2022

Kush Bottles Inc(OTCMKTS:KSHB) Moves Back Over the $5 Mark

Kush Bottles Inc(OTCMKTS:KSHB) has formed a strong base over the $5 mark after the shakedown to the $4 level. Over the past few months KSHB has been on a fast rise that saw it hit highs of $8.51 a share. KSHB has transformed over this period from a fairly thinly traded stock to one of the top most traded stocks on the entire exchange.

KSHB is at the right place at the right time; The MJ sector continues to grow; according to Forbes North American marijuana sales grew by an unprecedented 30% in 2016 to $6.7 billion as the legal market expands in the U.S. and Canada, according to a new report by Arcview Market Research. North American sales are projected to top $20.2 billion by 2021 assuming a compound annual growth rate of 25%. The report includes Canada for the first time as it moves towards implementing legal adult use marijuana.

Kush Bottles Inc(OTCMKTS:KSHB) is a premier packaging supplier, offering certified child-resistant and custom-branded solutions in all states that permit medical or recreational cannabis use. With over 100 million bottles sold, the company is respected for its quality products, exceptional customer service, fast deliveries, and innovative custom design and branding solutions.

Kush Bottles is one of the few cannabis-focused businesses that is publicly traded and has demonstrated profitability and revenue growth without direct involvement with cannabis plants or extracts. The Company has been featured in media nationwide, including CNBC, Los Angeles Times, Entrepreneur.com, TheStreet.com, and Inc. Magazine.

Earlier this year KSHB announced record third quarter revenues; revenues for the three months ended May 31, 2016 jumped to $2,322,638, a 94% increase over revenues of $1,198,083 in the year-ago quarter, and were 29% higher sequentially than revenues of $1,798,539 for the second quarter ended February 29, 2016.  The revenue growth was primarily attributable to the Company’s continued sales growth across California, Oregon, Washington, and Colorado as well as modest but early sales from the launch of a new product line and the implementation of a new custom packaging website.

The Company achieved record net income of $23,284, or $0.00 per share, compared with a net loss of ($76,393), or ($0.00) per share, in the year-ago quarter.  For the third quarter ended May 31, 2016, cost of goods sold increased to $1,588,302 from $779,652 a year earlier due to substantially higher revenues.  Gross profit for the third quarter ended May 31, 2016 rose to $734,336, for a 32% gross margin compared with $418,431 and a 35% gross margin in the year-ago quarter.  The substantial increase in gross profits was primarily due to the Company’s continued penetration of the California, Oregon, Washington and Colorado markets.

To Find out the inside Scoop on KSHB Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

Kush Bottles launched their new product line, BudGloves™, in April 2016. These premium quality gloves, created by Kush Bottles, meet the specific requirements of the cannabis industry and provides customers with an affordable and effective solution for handling cannabis plants, extracts and other products. They are powderless, non-stick, food-safe, and manufactured to meet industrial-grade standards.

In May, the Company implemented a new website that allows customers to submit design inquiries so they may customize the packaging of their specific brand. This new site has helped increase the number of return customers, attracted new first-time customers, enables scalability and has lead to higher website conversion rates and an overall return on investment.

On April 3 KSHB announced its CEO & Chairman, Nicholas Kovacevich, will participate on a panel discussion at Cowen’s 2nd Annual Cannabis Summit on April 9, 2018 at the SLS Hotel, 465 S La Cienega Blvd, Los Angeles, CA.

Cowen’s Cannabis Summit examines the rapidly growing cannabis market, and offers an overview of the industry as well as insight into current trends and topics.  Nick will be participating on the “Consumer Insights” panel from  8:00AM-8:45AM, and will feature Cy Scott, CEO of Headset, and Jim Patterson, CEO of Eaze.

Mr. Kovacevich commented, “As the cannabis market matures and legalization normalizes cannabis consumption, consumer preferences are evolving, and moving from strain-based preferences to brand-based loyalty. At Kush Bottles, we work alongside cannabis growers, manufacturers, delivery service providers, adult-use retailers and medical dispensaries to support their brand strategies as they adapt to this unique market. I look forward to discussing these topics, among others, in more detail at Cowen’s Annual Cannabis Summit, alongside other leading industry player.

We have a Monster Pick Coming. Subscribe Right Now!

Currently trading at a $314 million market valuation KSHB had $5.5 million in the treasury according to their latest filing as well as significant fast growing revenues reporting $8,847,115 in sales for the 3 months ended November 30, 2017 up from $2,472,395 for the same period last year. KSHB is an exciting story in small caps making huge moves in one of the hottest sectors to come around in a long time. KSHB CEO Nick Kovacevich recently commented “We entered fiscal 2018 with excellent momentum as we saw the impact of the strategic initiatives implemented throughout 2017 start to take hold. Revenues for the first fiscal quarter of 2018 reached approximately $8.85 million, representing a 258% increase compared with fiscal Q1 2017. This strength in the business led to net profits of $94,615 in fiscal Q1 2018. We also saw our cash balance increase to $5.5 million, which we plan to invest towards inventory purchasing, development of proprietary products, and other strategic initiatives.” We will be updating on KSHB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with KSHB.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in KSHB either long or short and we have not been compensated for this article.

More articles


Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.