$LVVV LiveWire Ergogenics Reports Financial Result
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Posted On: 08/26/2024 11:04:53 AM
$LVVV LiveWire Ergogenics Reports Financial Results for Q2 2024
https://www.otcmarkets.com/otcapi/company/dns...06/content
Anaheim, CA, August 26, 2024 -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, leasing, and licensing special-purpose real estate properties and operations conducive to producing high-quality, handcrafted, and sun-grown cannabis specialty products for medical and recreational adult use in California, today announced financial results for the second Quarter 2024, producing the tenth sequential profitable quarter.
During the quarter ending June 30, 2024, and 2023, sales amounted to $84,718, and net income to $41,259 due to the reporting period being a non-harvest period and accordingly generating lower revenue in management and licensing fees. Nevertheless, the company has now generated ten consecutive profitable quarters since the first quarter of 2022.
The Company expects the 3rd and 4th quarters of 2024 to reflect significantly improved financial results related to the broader distribution of products from the current harvest and market entry of a range of new and unique retail products currently readied for distribution by its affiliate company Estrella River Farms. Accordingly, higher management, marketing, and licensing fees will generate higher revenue for LiveWire. The company’s free cash flow and new investments are consistently reinvested in operations to improve performance for 2024 and 2025. Our current assets exceeded our liabilities by $3,113,731.
Bill Hodson, CEO of LiveWire Ergogenics, states, “While our revenues for Q2 2024 were low, because the second quarter 2024 falls into a non-harvest by our affiliate company Estrella River Farms (“ERF”), impacting our management and licensing fees, we were still able to generate a net profit, a streak of ten consecutive profitable quarters. We continue to focus on running an operation with the lowest possible overhead and reinvesting all cash generated back into operations to facilitate the marketing of the best sun-grown cannabis in California and facilitating the introduction of branded products for Estrella River Farms. It is our duty to accelerate new retail product development for our affiliate with higher sales prices and profit margins and maximize efficiency with an outlook to significantly improve financial performance for 2024.”
For a full report, visit https://www.otcmarkets.com/stock/LVVV/overview.
https://www.otcmarkets.com/otcapi/company/dns...06/content
Anaheim, CA, August 26, 2024 -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, leasing, and licensing special-purpose real estate properties and operations conducive to producing high-quality, handcrafted, and sun-grown cannabis specialty products for medical and recreational adult use in California, today announced financial results for the second Quarter 2024, producing the tenth sequential profitable quarter.
During the quarter ending June 30, 2024, and 2023, sales amounted to $84,718, and net income to $41,259 due to the reporting period being a non-harvest period and accordingly generating lower revenue in management and licensing fees. Nevertheless, the company has now generated ten consecutive profitable quarters since the first quarter of 2022.
The Company expects the 3rd and 4th quarters of 2024 to reflect significantly improved financial results related to the broader distribution of products from the current harvest and market entry of a range of new and unique retail products currently readied for distribution by its affiliate company Estrella River Farms. Accordingly, higher management, marketing, and licensing fees will generate higher revenue for LiveWire. The company’s free cash flow and new investments are consistently reinvested in operations to improve performance for 2024 and 2025. Our current assets exceeded our liabilities by $3,113,731.
Bill Hodson, CEO of LiveWire Ergogenics, states, “While our revenues for Q2 2024 were low, because the second quarter 2024 falls into a non-harvest by our affiliate company Estrella River Farms (“ERF”), impacting our management and licensing fees, we were still able to generate a net profit, a streak of ten consecutive profitable quarters. We continue to focus on running an operation with the lowest possible overhead and reinvesting all cash generated back into operations to facilitate the marketing of the best sun-grown cannabis in California and facilitating the introduction of branded products for Estrella River Farms. It is our duty to accelerate new retail product development for our affiliate with higher sales prices and profit margins and maximize efficiency with an outlook to significantly improve financial performance for 2024.”
For a full report, visit https://www.otcmarkets.com/stock/LVVV/overview.
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