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Saturday, November 26, 2022

Masters of the Buzz: KushCo Holdings, Inc. (OTCMKTS: KSHB)

KushCo Holdings, Inc. (OTCMKTS: KSHB) continues to trade very close to its all time lows which is incredible considering how far this Company has come. KSHB popped to over $8 per share back in early 2018 and at current levels just over $1 many Investors are giving KSHN a close look.

KushCo bills itself as the premier producer of ancillary products and services to the legal cannabis and CBD industries. KushCo Holdings’ subsidiaries and brands provide product quality, exceptional customer service, compliance knowledge and a local presence in serving its diverse customer base.

KushCo Holdings, Inc. (OTCMKTS: KSHB) was founeded in 2010 has now sold more than 1 billion units to growers, processors and producers across North America, South America, and Europe. The Company has been featured in media nationwide, including CNBC, Fox News, Yahoo Finance, Cheddar, Los Angeles Times, TheStreet.com, and Entrepreneur, Inc Magazine. While KushCo Holdings provides products and solutions to customers in the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any products that contain THC.

KushCo is the parent company of innovative industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Innovations, which provide a range of services and products for a variety of industries including the regulated cannabis and CBD industries The Hybrid Creative, and Koleto Packaging Solutions. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 1 billion units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The Company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market.

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Microcapdaily has been featuring KSHB for years noting on October 19, 2016 long before it ran to well over $8 per share – Kush Bottles Inc(OTCMKTS:KSHB) is on a steady rise in recent months since moving up off its base at $1 a share. KSHB has become a volume leader quickly attracting a significant shareholder base who has been bidding KSHB higher. KSHB operates in the red hot Marijuana industry that has quickly turned into a multi-billion dollar massive growth market that is sweeping across the Country with many new states legalizing the drug including Oregon and California likely next.

In January Kush reported financial results for its fiscal first quarter ended November 30, 2019. Net revenue increased 38% from the prior year quarter to $35.0 million. On a GAAP basis, gross profit was 20.8%, compared to 12.8% in the prior year period. Cash was approximately $14.7 million as of November 30, 2019, compared to approximately $3.9 million as of August 31, 2019.

Nick Kovacevich, Co-founder, Chairman and Chief Executive Officer, commented: “Building off of an exceptional year for KushCo in fiscal 2019, Q1 2020 helped us start off the new fiscal year on the right foot, with significant progress on all fronts operationally and financially. From an operational standpoint, we made major inroads in restructuring and right-sizing the business, including completing a sizeable reduction in force, reducing our stock-item SKU count, cutting non-essential costs, tightening our inventory management, and further streamlining our operations, which will be reflected in our results going forward. We also have been ramping up our newer higher-margin services, including gaining traction with our Retail Services division, which is building momentum in securing new brands and retailer authorizations. We are also experiencing a positive start with our recently launched hemp trading desk, which is on pace to achieve our previously disclosed target of $25 million in revenue for fiscal 2020 as our pipeline continues to grow and we establish a more dominant presence in this burgeoning part of the industry. Last, but not least, we strengthened our leadership team with the appointment of Rhiana Barr as our Chief People Officer.

On February 6 KSHB announced it has entered into definitive agreements with investors for the purchase and sale of 10,000,000 units, with each unit consisting of one share of common stock, par value $0.001 per share, and a warrant to purchase half a share of common stock, at an offering price of $1.60 per unit, pursuant to a registered direct offering. The warrants will have an exercise price of $2.00 per share, will be immediately exercisable and will expire five years from the date of issuance. The gross proceeds of the offering will be approximately $16 million before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds for working capital and for other general corporate purposes. The closing of the registered direct offering is expected to take place on or about February 10, 2020, subject to the satisfaction of customary closing conditions.

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Currently trading at a $154 million market valuation KSHB has a strong balance sheet with $14.7 million in the treasury as well as $40 million in inventory and small very manageable debt. The Company is emerging as a revenue powerhouse recently announcing nevenue increased 38% from the prior year quarter to $35.0 million for its fiscal first quarter ended November 30, 2019. Kush has also been very successful in getting its name into the media appearing in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc. KSHB has a attracted a fast growing shareholder base which has transformed KSHB into one of the top most traded stocks on the entire OTCBB. 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.

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

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