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AUSTIN, Texas, Feb. 05, 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 continued accelerating revenue growth for its “Where’s Weed” division, including quarterly year over year sales growth of 149% and total Q4 revenues in excess of $300K.
DVLP CEO Stavros Triant stated, “It’s extremely exciting to see such booming traction for Where’s Weed. Q4 exceeded our expectations, and Q1 is already powering past that benchmark. We previously announced a restructuring and expansion of our sales strategies, and that’s clearly already having a major impact, with January platform revenues up 24% on a sequential monthly basis and 90% on an annual comp basis.”
Based on performance thus far this year, including $108K in January revenues, the Company now anticipates that Q1 2019 Where’s Weed revenue performance will eclipse DVLP full-year 2018 results, representing clear and continued accelerating growth on the Company’s leading cannabis services platform.
Overall, at this rate of growth, revenues from the platform are now on pace to total $2.5-3M for 2019, excluding results from its recently announced high-capacity CBD extraction and production division, multiple pending acquisitions of strong revenue-producing CBD distribution companies, and the immanent launch of wherescbd.com.
“The Where’s Weed platform hosted over $18M in transactions last year, and we continue to see booming results in terms of pace of adoption since we acquired the platform in September,” continued Mr. Triant. “We made that move because we believed in two things: first, cannabis is a secular growth story with major legs over coming years; and second, most of that growth will migrate over into services now that we have already seen a boom in marijuana production capacity investment last year. So far, we haven’t seen anything to contradict that thesis.”
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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