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DENVER, June 17, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis, Hemp, and CBD marketplace, is excited to announce updated financial data as the Company’s growth rate continues to accelerate following key strategic moves, including expanded production capacity and the acquisition of Infusionz, LLC (“CBD Infusionz”). In combined terms, the Company booked over $629K in monthly sales in May alone, with an annualized sequential monthly sales growth rate of nearly 160%.
“As we projected, topline performance is accelerating across all metrics following our recent investments,” stated DVLP CEO, Stavros Triant. “Everything is clicking right now. CBD Infusionz has moved into its expanded facility and the booming demand continues unphased. And our Where’s Weed segment is powering ahead at the same time. We couldn’t be more excited about how we are positioned right now and what we see ahead of us in coming months and quarters.”
The Company notes sharply accelerated growth since completing its acquisition of CBD Infusionz. That acceleration is showing up across all segments.
For example, the Company’s powerhouse Where’s Weed segment, an online and mobile cannabis services hub, booked $135K in sales in April, and $153K in sales during the month of May. That equates to 164% in annualized sequential monthly sales growth. For its part, CBD Infusionz showed similarly exceptional growth, taking in $421K in April sales, followed by $476K in May sales, extrapolating to an extraordinary 158% rate of growth (in annualized sequential monthly terms).
In addition, the Company also notes that sales to a new client domiciled in Israel have become a salient factor spurring further growth potential. This one Israeli customer drove nearly $43K in sales during all of calendar Q1 2019. But that rate has begun to accelerate, with recent orders already jumping to a level on pace for potentially $198K in June sales, representing as much as a 1,300% increase in total volume from already material levels.
“We are quite possibly the only name in the monster Hemp/Cannabis/CBD growth phenomenon that is demonstrating rapid expansion on both the services and product sides of the market,” continued Mr. Triant. “That gives us stability, reliability, diversification, and titanic growth in the same equation, which is precisely where we want to be.”
About Golden Developing Solutions, Inc.
Golden Developing Solutions (DVLP) is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products. The Company is also developing a high-capacity, high-quality CBD extraction and production facility. In addition, through the website of its joint venture partner, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the Company offers a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products. Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.
Golden Developing Solutions is a development-stage company providing business services and/or products supporting the cannabis industry, in which company intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.
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.
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