Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last Hour:
Last 24 Hours:
Total:

Exactus seeing revenue growth as it looks to build profitable company in the CBD space

% of readers think this story is Fact. Add your two cents.


  • Highly scalable hemp farming knowledge base
  • Mission to lead the hemp industry into mainstream consumer markets
  • Experienced management

What Exactus Inc does:

Exactus Inc (OTCMKTS:EXDI) farms and manufactures hemp-derived cannabidiol (CBD) products.

The company sells its CBD products through its own Exactus brand (Green Goddess) and white label products to third-party resellers.

It is also engaged in producing industrial hemp from farms in Oregon and plans to extract and manufacture directly through certified good manufacturing practice (cGMP) facilities.

Exactus One World is the name of the group’s farming and production initiative, which the firm says captures “the expansive and inclusive nature of the vision of a comprehensive seed to sale consumer program”.

The seeds (genetics) used at Exactus One World are sourced from Oregon CBD, founded by Seth and Eric Crawford, who are believed to have developed superior strains of hemp seeds and are thought to be one of the world’s leading breeding, research and production facilities for CBD seed.

The company has struck a supply and distribution agreement with cannabigerol (CBG) market leader Hemptown USA, opening a new revenue source to distribute Hemptown’s specialized cannabinoids, including top-flower, biomass and raw materials, namely crude, isolates and distillates.

Found in low levels (usually less than 1%) in most cannabis strains, CBG is considered a minor cannabinoid but it has been found to act on specific human physiological problems, and results for medicinal use have been promising. For example, it has shown promise in fighting cancer.

How is it doing:

In August, Exactus posted its second-quarter 2020 results, which showed an increase in year-over-year revenue despite the coronavirus pandemic. It also revealed lower cash burn and shrinking debt, as  the firm continued to expand its sales and marketing efforts.

Net revenue for the three month period came in at $531,240 compared to $139,683 in the same quarter a year earlier.

The company said it will now focus on specialty ingredients, and its white label business to expand its customer base and leverage its relationships to drive “more profitable and scalable revenue”.

Earlier this year, with its first quarter numbers, reported at the beginning of July, the company’s CEO, Emiliano Aloi said 2020 had marked a new beginning for Exactus, not least with the board being bolstered by new additions from the banking, media, and technology worlds.

He also praised the group’s president Derek Du Chesne and his “valuable work in restructuring our commercial and supply chain strategies,” which had prompted the higher revenues and lower spending.

The first quarter saw Exactus receive purchase orders for around C$900,000 of CBD and CBG products.

Notably, during the understandable uncertainty among farmers during the coronavirus pandemic, the firm has been testing a hemp buy-back program. It sees the firm repurchase any unused biomass at fair market value to process, giving farmers some kind of outlet to sell their harvest.

Inflection points:

  • Financial reports
  • Regulatory changes
  • More contracts and deals

What the boss says:

In the company’s second-quarter results statement in August, Exactus interim Emiliano Aloi CEO said: “Our year over year sales are up, our burn is down, and our debt is shrinking. Specifically, we are very proud of our new integrated CRM, sales, and E-commerce integration that Mark Alouf and his team have put together, and of Sonya Bain’s leadership in launching our white label division.

“These are the results that we need to strengthen our position in the market and to enable Exactus to engage in its M&A growth strategy.”

Story by ProactiveInvestors



Source: https://www.proactiveinvestors.com/companies/news/927297/exactus-seeing-revenue-growth-as-it-looks-to-build-profitable-company-in-the-cbd-space-927297.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com

Order by Phone at 888-809-8385 or online at https://www.herbanomic.com


Get our Free Ebook, "Suppressed Health Secrets"  with  Natural Cures THEY don't want you to know!

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.