Distribution & Sales Ultimately Prove Product Viability, Portend Opportunity
An Emerging Markets News Commentary
ORLANDO, Fla., June 16, 2020 (GLOBE NEWSWIRE) -- The cannabis revolution is clear and ongoing. Signs for dispensaries are everywhere in legalized cannabis states, including the addition of CBD ingredients to everyday products.
If there was a turning point for acceptance of cannabis-based products it was years, not months ago.
With market expansion comes a flood of product and public company offerings. How does a consumer differentiate between one product and another? Moreover, how does an investor differentiate between one THC and CBD based public company and another?
For us, it’s about distribution and sales which ultimately lead to the most defining of metrics, net revenue.
To this end, a Canadian company with a cool stock ticker on the CSE (CSE: POT) and a tri listing with the CSE listing and on the United States and German stock exchanges, Weekend Unlimited Industries Inc. (WKULF, Financial)(FSE: 0OS1) is making in-roads.
In their June 15th, 2020 press release, Weekend Unlimited reported record revenues of Cdn$376,104 and gross profit of 10% for the third quarter 2020 up to the date of June 15, 2020 (the third quarter ends on June 30, 2020), a revenue increase of 1,138% from Q2. These results reflect sales of WKND and Orchard Heights branded cannabis products in Oklahoma and WKND Wellness CBD and health products sold between April 1st, 2020 thru June 15th, 2020 in the Q3 2020.
“This is a pinnacle moment for Weekend Unlimited that still has another two weeks to go in Q3. It is incredibly exciting to see these revenues and corporate profits. Being a Cannabis company with no debt (with the exception of $29,170 of accounts payable and accrued liabilities), and products rapidly gaining in popularity, we are very optimistic leading into Q4,” said Mr. Robert Payment, Weekend CFO.
“Despite the pandemic environment we are generating record numbers in both revenue and gross profit. After going to market with an initial strategy focused on high volume, low margin products that would give WKND brands maximum exposure, the Company is now positioned to decrease cost of goods through high volume orders, while continuing our attempt to increase overall sales and gross profit,” stated Mr. Chris Backus, WKND! President/CEO. “As our product lines and distribution continue to expand and our brands continue to gain awareness in the United States, we are well-positioned to take advantage of the exciting US Cannabis and Wellness market.”
This revenue success comes after their March 31, 2020 release announcing that the Company has dramatically expanded its product offering. Weekend Unlimited is a lifestyle-based recreational cannabis and CBD wellness company that is developing and launching premium ‘cannabis and CBD brands to deliver life's highs - any- time, anywhere.’
Nothing novel in that statement. Could describe a myriad of cannabis pubcos. That is, until you break down a couple market differentiators.
First, the company is a business, not a business plan, with a real and diverse product offering already in the marketplace.
To that end, and having only begun sales in late 2019, Weekend branded products are now in over 75 dispensaries in the State of Oklahoma alone and expanding its presence daily. Seventy-five dispensaries is an enormous retail footprint IN ONE STATE by any standard, and it should be an affirmation as to the product offering that dispensary owners, those truly in the know and with something to lose or gain, are choosing to put Weekend goods on its shelves in a competitive marketplace.
Additionally, the product line as of a few months ago has expanded to 11 SKU’s with new chocolate almond bars and “Escape Caramel Chews.” For us, this again speaks to industry acceptance as more SKUs require more competitive shelf space and of course, more SKUs can lead to more revenue. It’s just more hooks in the water.
Adding to all this is a statement from Weekend Unlimited in a recent press release that speaks to leveraging the Oklahoma progress in new and expansive markets:
“Ultimately, the Company is designed to leverage the core branded products to expand into up and coming states and to replicate the responsive model. In Oklahoma, Weekend has added two highly experienced cannabis sales representatives to its team to manage and grow the Company's expanding retail relationship network.”
Of course, sales and market acceptance are but one large integer in the algorithm of success of a public company. The Company must adeptly execute its business model, manage its debt and more.
But as we look at the ever-growing spectrum of cannabis offerings in retail and the market, identifying those with a real and expanding brand and product offering in a vast amount of stores certainly gets our attention.
About Weekend Unlimited Industries Inc.
Weekend Unlimited is a lifestyle-based recreational cannabis and CBD wellness company. We are developing and launching premium cannabis and CBD brands to deliver life's highs - any- time, anywhere. Our CBD products are available online and at a retailer near you. Weekend Unlimited is well-positioned to launch and scale the brands that will define cannabis and CBD. Learn more at www.weekendunlimited.com
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