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.
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 October 11 KSHB announced its Co-Founder and Chief Executive Officer, Nick Kovacevich, will be speaking at two prominent conferences in the coming weeks. Kovacevich was asked to participate and provide expert industry insight and analysis at the New West Summit – the first conference to focus exclusively on game-changing and disruptive developments in technology, investment and media within the cannabis space.
Kovacevich will be speaking on a panel, along with notable industry leaders: Marc J. Ross, Founding Partner of Sichenzia Ross Friedman Ference LLP; Derek Peterson, CEO of Terra Tech Corp; and Leslie Bocskor, Founder and President of Electrum Partners. The panel will be moderated by Alan J. Brochstein, Founding Partner at New Cannabis Ventures, and Founder of 420 Investor.
We have a Monster Pick Coming. Subscribe Right Now!
Currently trading at a $168 million market valuation KSHB had $350k in the treasury according to their latest filing as well as significant fast growing revenues reporting sales of $2,322,638 in Q3 2016, 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. KSHB is an exciting story in small caps; the Company 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. 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.