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Mesquite, Nov. 17, 2020 (GLOBE NEWSWIRE) -- MESQUITE, NV / November 17, 2020 / Cannabis Sativa, Inc. (OTCQB:CBDS) reports revenues of $459,786 for Q3, and $1,674,021 for the nine months ended September 30, 2020, up 137% compared to the nine months ended September 30, 2019. “We are pleased to report strong numbers during this pandemic as our telemedicine portal PrestoDoctor (https://prestodoctor.com) helps patients in California, Nevada, New York, Oklahoma, Missouri, Pennsylvania and Illinois seeking medical cannabis recommendations in the safest way” said President David Tobias. “There has been a broadened acceptance of telehealth due to the Corona virus.” The Company is currently exploring expansion opportunities in additional states, including Ohio, Virginia, and Massachusetts.
PrestoDoctor’s expanded market area and heightened advertising have been driving an increase in patient visits to our online platform and a general expansion in consumer awareness of the PrestoDoctor brand. PrestoDoctor reported $1,602,599 revenues in those nine months ended September 30, 2020.
GK Manufacturing and Packaging subsidiary was in the start-up phase for the nine months ended September 30, 2020. Revenue and operating efficiencies were impacted by the pandemic, as was the learning curve required for the labor force to become familiar with the manufacturing equipment, the cost of moving into a new facility, and the need to build a backlog of customer orders to streamline the production process. The start-up phase has taken longer than expected, primarily due to the pandemic, however management expects these negative factors to lessen in the coming periods and is currently focused on building its customer base and product line. “The CBD product market in the U. S. is estimated at over $1.7 Billion in 2020, and GK Manufacturing & Packaging, as a CBD product formulator, contract manufacturer, and fulfillment center is poised to gain greater market share in 2021 as celebrity brands and start-up brands needing our services continue to emerge", Tobias stated.
PrestoDoctor is rated the #1 online medical marijuana doctor by tens of thousands of medical cannabis patients who have received fully qualified medical marijuana recommendations. PrestoDoctor is the only service to offer patients a custom treatment plan after they have a confidential evaluation with a licensed, highly knowledgeable physician who is an expert in treatment methods, dosing levels, and cannabis products. Founded in 2015, PrestoDoctor services are available in legal medical marijuana states: California, Missouri, New York, Nevada, Oklahoma, Pennsylvania, and Illinois. A HIPAA and HITECH compliant telemedicine company, PrestoDoctor is a member of the American Telemedicine Association (ATA), maintaining the highest customer satisfaction rating for any telemedicine service online with over 14,000 5-star reviews www.prestodoctor.com
About GK Manufacturing & Packaging:
GK Manufacturing (http://gkmanufacturinginc.com) is a Southern California based contract manufacturing, co-packing and white label company, producing a wide range of highest quality, lab-tested CBD products including edibles, tinctures, drinks and topicals. GK specializes in short batch runs, formulation, mixology, graphics/labeling and fulfillment. In-house brands include the well-established Ganja Juice brand, Canna Science,and Murray & Roccos CBD infused pet line. Shop their new portal at (https://cbdinit.com).
Cannabis Sativa, Inc. (CBDS) is engaged in telehealth, contract manufacturing CBD infused products, and the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. CBDS holds a U.S. patent on the Ecuadorian Sativa strain of Cannabis, a U.S. Patent for a marijuana lozenge; a Cannabis-based pharmaceutical composition for the treatment of hypertensive disorders by submucosal delivery and trade secret formulas and processes, and operates subsidiaries including: PrestoDoctor® (https://prestodoctor.com), GK Manufacturing & Packaging (http://gkmanufacturinginc.com), Wild Earth Naturals® (https://wildearthnaturals.com), and iBudtender (https://ibudtender.com). The Company licenses the hi and White Rabbit brands, and is the official licensee for Virgin Mary Jane Brand (https://virginmaryjanebrand.com).
Forward Looking Statements:
This press release contains forward-looking statements. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Underlying assumptions include without limitation, the ongoing enactment of legislation favorable to the production of and the commercialization of cannabis products and the Company’s success in capitalizing on that legislation. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.