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Posted On: 04/19/2022 5:08:22 AM
Post# of 102810
$PVSP The Company partnered with a national cultivation group in its effort to upgrade all facilities and grow SOPs with an objective to increase per square foot output by 50%
Washington’s largest public utility agreed to provide energy rebates to upgrade grow lighting to state of the art LED equipment with close to one million dollars ($1 million) in rebates over the next 12 months
Quarter over quarter EBITDA has increased from ($649,831) to $124,221
Revenue increased by 2.4% in a post pandemic market that saw revenues decrease by 12% in Washington State
Inventories have increased to $4,321,512 and provide the power to support revenue growth for Q2, while allowing gardens to continue to increase per square foot yields in anticipation of continuing strong growth in Q3 and Q4
A six-month upgrade to the Port Townsend greenhouse cluster was completed end of February and positive yield and quality improvement results will start to be recognized in the second quarter
The company wide restructuring that started in October 2021 was completed by end of February resulting in over a million dollars in operating expenses saved with positive cashflow impacts to be realized in the third and fourth quarter this year
“While focused on structuring our business for success and improved efficiencies, our team has also done incredible work advancing our plans with KRTL Biotech for brand expansion into adjacent wellness markets, developing a new cannabis brand, and expanding the Artizen brand’s network of retail customers. We have moved the entire organization off proprietary software systems and moved to off-the-shelf, third party supported applications, launched system-wide upgrades to our facilities, which are already yielding results in the form of increased flower quality and yield, and all this in less than 5 months.”
Burtscher continued: “Based on requests from many of our shareholders we are also going to make virtual visits available for all the gardens and operations growing Artizen branded flower. It is sometimes difficult to understand the size of operation required to sustain a business like ours and difficult to visualize what we are doing. Look for an announcement on our website in the coming days. We also will gladly host anyone visiting us in Washington for a tour!”
https://www.nasdaq.com/press-release/pervasip...h-in-gross
Washington’s largest public utility agreed to provide energy rebates to upgrade grow lighting to state of the art LED equipment with close to one million dollars ($1 million) in rebates over the next 12 months
Quarter over quarter EBITDA has increased from ($649,831) to $124,221
Revenue increased by 2.4% in a post pandemic market that saw revenues decrease by 12% in Washington State
Inventories have increased to $4,321,512 and provide the power to support revenue growth for Q2, while allowing gardens to continue to increase per square foot yields in anticipation of continuing strong growth in Q3 and Q4
A six-month upgrade to the Port Townsend greenhouse cluster was completed end of February and positive yield and quality improvement results will start to be recognized in the second quarter
The company wide restructuring that started in October 2021 was completed by end of February resulting in over a million dollars in operating expenses saved with positive cashflow impacts to be realized in the third and fourth quarter this year
“While focused on structuring our business for success and improved efficiencies, our team has also done incredible work advancing our plans with KRTL Biotech for brand expansion into adjacent wellness markets, developing a new cannabis brand, and expanding the Artizen brand’s network of retail customers. We have moved the entire organization off proprietary software systems and moved to off-the-shelf, third party supported applications, launched system-wide upgrades to our facilities, which are already yielding results in the form of increased flower quality and yield, and all this in less than 5 months.”
Burtscher continued: “Based on requests from many of our shareholders we are also going to make virtual visits available for all the gardens and operations growing Artizen branded flower. It is sometimes difficult to understand the size of operation required to sustain a business like ours and difficult to visualize what we are doing. Look for an announcement on our website in the coming days. We also will gladly host anyone visiting us in Washington for a tour!”
https://www.nasdaq.com/press-release/pervasip...h-in-gross
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