FRLF Anticipates That Q-4 Revenues Will be in Excess of $400,000
LAS VEGAS, NV, July 03, 2018 (GLOBE NEWSWIRE) -- Freedom Leaf, Inc. (OTCQB: FRLF), last Friday filed its fiscal Q3 results conforming to G.A.A.P reporting standards.
Freedom Leaf, Inc.’s Chief Financial Officer, Richard Groberg, highlighted the following key takeaways from the Q3 report, between June 30, 2017 and March 31, 2018:
- Total Company Assets increased 28%
- Notes Payable were reduced from $258,753 to $0
- Non-Current Liabilities declined 34%
- Stockholder’s Equity increased 126%
Clifford J Perry, CEO & Co-Founder of Freedom Leaf, Inc., remarked: “Over the last two quarters, we have been concentrating on cleaning up the balance sheet, reducing debt and increasing assets in preparation for our anticipated acquisitions and their resulting revenue growth.”
Perry continued, “Marketing and advertising operations for online and retail sales were launched for multiple product lines, creating framework for significant revenue generation. The Company anticipates total revenue for the quarter ended June 30, 2018 to be greater than $400,000.”
Freedom Leaf, Inc. management has also been focused on strategic international growth, as detailed by FRLF’s recent purchase of the Valencia Greenhouse property:
On May 17, 2018, The Company concluded a contract to acquire a 430,000 sq. ft. cultivation greenhouse in Valencia, Spain, equipped with light deprivation systems, hydroponic infrastructure and automated irrigation & nutrient dispersion systems. This property puts Freedom Leaf, Inc. in the perfect position to capitalize on the enormous European demand for high-quality hemp products.
The Company incurred no dilution to acquire the new hemp greenhouse operation, as the previous owner financed the purchase with: nothing down; €20,000 a month for two years interest free; €100,000 a month plus the interest at 5% for the next 36 months, and the small remaining balance due thereafter. Management anticipates that cash flow from this operation will cover this debt service and result in significant revenue.
Contracts for the purchase of the current crop of Hemp Flower are being sold now with a minimum of 10% deposit and 5% each month with the final payment upon delivery. It is expected that revenue for the current crop will be in excess of €995,000. The crop was planted in June, will be harvested in September and delivered in October.
Listen to Freedom Leaf, Inc. CEO, Clifford J Perry, on a recent Stock Day and Uptick Newswire radio show. Visit the Freedom Leaf Inc., message board on: https://investorshangout.com/
About Freedom Leaf, Inc.®
Freedom Leaf, Inc. (OTCQB: FRLF) is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. Freedom Leaf, Inc. is a fully-reporting and audited publicly-traded company under the symbol (OTCQB: FRLF). Freedom Leaf, Inc. has been a leading go-to resource in the cannabis, medical marijuana and industrial hemp industries since 2014, founded by professionals with over 200 years combined experience in marijuana legalization advocacy. FRLF is building a diverse portfolio of valuable businesses through strategic mergers, acquisitions, and acceleration projects across the industry.
FRLF’s large portfolio of acquisitions and properties includes: our recently acquired full spectrum hemp oil product line - Irie CBD; our wholly-owned hemp extraction division - Leafceuticals, Inc.; our exclusive health and wellness full spectrum hemp oil brand - Hempology, our just-acquired indoor hemp greenhouse in Valencia, Spain for the cultivation of Hemp; our hemp-based rolling paper company - Plants to Paper; two of the largest Spanish-speaking cannabis web portals in the world - LaMarihuana.com and Marihuana-Medicinal.com, and of course our flagship publication - Freedom Leaf Magazine.
Utilizing these mergers and acquisitions, Freedom Leaf, Inc. is continually building a solid foundation for our vertically-integrated hemp company to maximize both revenue growth, and net profit, which will increase our shareholders value. Our cultivation and extraction divisions allow FRLF to grow and source our own hemp CBD, which allows dramatically lower production costs for our wholly-owned CBD product lines, thereby generating more revenue for each product sold. We formulate and manufacture the majority of our products in our own in-house formulation centers, also greatly reducing our costs and increasing revenue. In addition, our extensive domestic and international media companies ensure we can continuously direct traffic to our many ecommerce sites and nationwide retail locations.
Freedom Leaf, Inc. also sells licenses to use the Freedom Leaf brand in different countries and states across the globe. We have entered into three license agreements: for Spain and Portugal, for The Netherlands, and for Southern California.
Freedom Leaf, Inc. does not handle, grow, sell, or dispense marijuana or related products
All of our European activities are in full compliance with relevant EU laws.
Investor relations information can be found on the FreedomLeafInc.com company website.
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. All statements other than statements of historical facts included in this news release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other media and cannabis/hemp-related products and services; the effects of changes in laws governing the cannabis and hemp industries; our ability to successfully develop and sell new products and services; our success establishing and maintaining industry relationships, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our prior filings with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.