$PVSP “On the heels of Artizen Corporation’s r

$PVSP “On the heels of Artizen Corporation’s reverse merger to acquire Pervasip Corp, the cannabis industry experienced a dramatic post pandemic contraction. Planned restructuring efforts had already launched in late 2021 and we took even more aggressive steps to further rationalize our business, dispose of undervalued assets, re-focus on higher margin products and allowed our leading brands to take a more aggressive posture to increase market share. Healthy inventory amounts provided for extraordinary financing via cashflow, albeit at extremely low margins, a carefully considered short term decision which has now come to an end as we have achieved our goals. All these efforts position us nicely for healthy financial growth in 2023. As promised, we have also finalized a 24-month roadmap and are in a position to provide carefully considered guidance in a market that is still extremely unpredictable,” said German Burtscher, Pervasip CEO. “It is also important to note that all the Artizen brands’ revenue is wholesale, revenue derived from sales to retailers. The vast majority of MSOs report revenues and resulting financials that include retail sales from stores they own in addition to usually rather small wholesale revenue, all mostly generated in protected markets. Washington State (WA) cannabis sales are taxed at 47% (!) and each dollar sold by a producer/processor is marked up 3 – 3.5 times by the retailers they sell to. Generating profitable revenue in WA will translate extremely well once our brands and operating expertise is applied in other recreational markets.”

https://www.marketwatch.com/press-release/24-...ws_seemore

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