My post on IHUB.in regards to the recent PR. G-A-M
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Posted On: 11/26/2017 6:11:18 PM
My post on IHUB.in regards to the recent PR. G-A-M-E-C-H-A-N-G-E-R.
EVIO Inc. Granted Expanded Accreditation to Test for Pesticides and Residual Solvents
BEND, OR -- November 22, 2017 -- InvestorsHub NewsWire -- EVIO, Inc. (OTCQB: EVIO), a life science company and leading provider of quality control testing and advisory services to the regulated cannabis industry, announced that it has been granted an expansion to its accreditations from the Oregon Environmental Laboratory Accreditation Program (ORELAP), a division of the Oregon Health Authority.
The expanded accreditations include the ability for EVIO Labs to provide full-scope pesticide testing at its Medford location.. Together, the added accreditations will enable EVIO to substantially reduce its testing costs and improve customer satisfaction by decreasing turnaround The Company also attained additional accreditation to test for residual solvent residues at its Portland location time by eliminating the reliance of third party testing providers.
"EVIO Labs has made substantial investment during the past year to achieve this milestone. During the last twelve months we have been focused on adapting to a new regulatory environment, increasing revenues, standardizing operations, and preparing for growth. These new accreditations in Oregon will enable the company to substantially reduce, if not nearly eliminate, our subcontracting costs. The last fiscal year these expenses alone topped $1 million," commented EVIO CEO, William Waldrop. "Bringing pesticide testing fully in-house and expanding our capability with residual solvent analysis will also allow us to substantially increase our market opportunity and simultaneously become an even more formidable competitor statewide."
My belief now is the revenues will be much higher than the $1 Mil in expenses. With $2.85 MIl in revenues for fiscal 2017(management forecasted this in a prior interview when calling for $9.4 Mil 2018.) we outsourced probably 35% of our work which naturally was low margin. They also called for 40-45% margins. Residual solvents now in house many like myself was unaware of. My guess is revenues will now increase much higher than most anticipated. Turn around time is a key component and will substantially help add to the bottom line as these components of the pie are no longer outsourced. IMO, this is huge. Now let's get compliant as we become QX bound. Money is coming as this was/is a game changer. Many like myself became very concerned as this cert. was supposed to happen end of May. Bring on Canada and bet your behind it is coming.
Congrats to management on this coveted license. It alone is worth its money in gold. Mark my word WE are going up!! As I have stated before I can changed in a New York minute.
EVIO Inc. Granted Expanded Accreditation to Test for Pesticides and Residual Solvents
BEND, OR -- November 22, 2017 -- InvestorsHub NewsWire -- EVIO, Inc. (OTCQB: EVIO), a life science company and leading provider of quality control testing and advisory services to the regulated cannabis industry, announced that it has been granted an expansion to its accreditations from the Oregon Environmental Laboratory Accreditation Program (ORELAP), a division of the Oregon Health Authority.
The expanded accreditations include the ability for EVIO Labs to provide full-scope pesticide testing at its Medford location.. Together, the added accreditations will enable EVIO to substantially reduce its testing costs and improve customer satisfaction by decreasing turnaround The Company also attained additional accreditation to test for residual solvent residues at its Portland location time by eliminating the reliance of third party testing providers.
"EVIO Labs has made substantial investment during the past year to achieve this milestone. During the last twelve months we have been focused on adapting to a new regulatory environment, increasing revenues, standardizing operations, and preparing for growth. These new accreditations in Oregon will enable the company to substantially reduce, if not nearly eliminate, our subcontracting costs. The last fiscal year these expenses alone topped $1 million," commented EVIO CEO, William Waldrop. "Bringing pesticide testing fully in-house and expanding our capability with residual solvent analysis will also allow us to substantially increase our market opportunity and simultaneously become an even more formidable competitor statewide."
My belief now is the revenues will be much higher than the $1 Mil in expenses. With $2.85 MIl in revenues for fiscal 2017(management forecasted this in a prior interview when calling for $9.4 Mil 2018.) we outsourced probably 35% of our work which naturally was low margin. They also called for 40-45% margins. Residual solvents now in house many like myself was unaware of. My guess is revenues will now increase much higher than most anticipated. Turn around time is a key component and will substantially help add to the bottom line as these components of the pie are no longer outsourced. IMO, this is huge. Now let's get compliant as we become QX bound. Money is coming as this was/is a game changer. Many like myself became very concerned as this cert. was supposed to happen end of May. Bring on Canada and bet your behind it is coming.
Congrats to management on this coveted license. It alone is worth its money in gold. Mark my word WE are going up!! As I have stated before I can changed in a New York minute.
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