PORTLAND, Ore., Nov. 24, 2015 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTCQB:KAYS), announced today that it has released its quarterly report for the period ending September 30, 2015. During this quarter the Company operated its Medical Marijuana Facility in Portland, transitioned the Portland location to a recreational outlet, opened a second store in Salem (also recreational) and dramatically upgraded its consolidated Grow. Additionally, within the Management Discussion and Analysis of Operations section of the 10-Q is an analysis of the first thirty days of recreational sales as experienced at the Company’s two retail marijuana locations in Portland and Salem, Oregon.
October 2015: The first thirty-one days of limited recreational marijuana sales
Although we are dealing with a very short snapshot of the recreational market, the 500%+ increase in total sales for the company and nearly 400% increase in same store revenues at our established Hawthorne location is consistent with our thesis that the recreational marijuana market is much more lucrative for the company than medical sales.
Additionally, if you factor that the current rules permit us to sell only “limited recreational sales” (flower only and no more than 7 grams to any individual per day) we are confident that revenues will increase again once our recreational customers can purchase larger amounts of flower and buy additional products, such as extracts, concentrates and edibles.
“This has been an incredible period of growth for us,” stated Craig Frank, CEO of Kaya Holdings. “We have effectively expanded our operations, dramatically increased revenues, and constructed a strong foundation upon which additional growth will be developed. We believe sales will continue to grow as our Salem based Marijuana Superstore gains more market share and the rules expand customer buying options. The true promise of this industry is beginning to show itself.”
About Kaya Holdings, Inc. (KAYS) www.kayaholdings.com
KAYS (OTCQB:KAYS) through its subsidiary, Marijuana Holdings Americas, Inc. (“MJAI”), owns and operates Kaya Shack™ - the first legal marijuana dispensary by a fully reporting U.S. public company. Through its Kaya Farms Grow operations, KAYS creates and establishes it own brands that produce, distribute and/or sell premium cannabis products, including flower, concentrates, and cannabis-infused baked goods and candies.
IMPORTANT DISCLOSURE: KAYS is planning execution of its stated business objectives in accordance with current understanding of State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Marijuana (as outlined in the Justice Department's Cole Memo dated August 29, 2013), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that AFAI and MJAI will obtain advice of counsel prior to actualizing any portion of their business plan (including but not limited to license applications for the cultivation, distribution or sale of marijuana products, engaging in said activities or acquiring existing Cannabis production/sales operations). Advice of counsel with regard to specific activities of KAYS and MJAI, Federal, State or Local legal action or changes in Federal Government Policy and/or State and Local Laws may adversely affect business operations and shareholder value.
Forward Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For more information visit www.kayaholdings.com or contact Investor Relations: 561-210-7664