DENVER, July 18, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the cannabis, hemp and CBD marketplaces, announces strong financial results for its second quarter, ended June 30, 2019.
The Company announced preliminary second quarter sales of $1,965,641– the greatest amount in sales to date. The Company is pleased with the results as both its operational entity and subsidiaries continue to experience consistent growth.
“According to the most recent ArcView Market Research report, the cannabis and CBD industries experienced significant growth in the first half of 2019, and it’s exciting that our second quarterly results reflect a similar growth trajectory. We believe our diverse ecosystem of product and service offerings is creating a community of consumers and businesses. It’s also successfully fulfilling needs across multiple channels of the cannabis and cannabis-related industries that weren’t previously available or developed,” said DVLP CEO Stavros Triant.
In the second quarter, additional sales and a boost in manufacturing capacity at its current facilities have directly increased revenue for the Company. On June 3, the Company secured a new 25,000-square-foot facility that will help the Company exponentially amplify manufacturing capacities in the future.
Triant noted, “We’ve built a technical foundation and now we’re working to solidify a team to support it. With leaders in varying verticals applying themselves across multiple brands, we’re not surprised to see the increased second quarterly sales figures.”
About Golden Developing Solutions, Inc.
Golden Developing Solutions (DVLP) is publicly traded company operating several fully-owned ancillary technology, CBD and Cannabis businesses. Through the websites WheresWeed (wheresweed.com) and WheresCBD (wherescbd.com) the Company is building a strong tech and marketing foundation to support community, brand image and distribution channels. The Company’s subsidiary, CBD Infusionz, is an online retail business for cannabidiol (CBD), hemp oil, health/wellness-related products, as well as wholesale products direct-to-retail. The high-quality, competitively priced products include traditional vitamins, supplements, CBD-based tinctures, vapes and soft gels and much more. The Company is also developing a high-capacity, high-quality CBD extraction and production facility.
Golden Developing Solutions is an emerging company providing business services and/or products supporting the cannabis industry. Currently, 14 states plus the District of Columbia have passed laws permitting their citizens to purchase and consume recreational cannabis, while 34 states plus Guam, Puerto Rico, and US Virgin Islands have approved medical cannabis.
Forward-Looking Statements This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced herein are not incorporated into this press release.
Source: Company press release.