Integrated Cannabis Solutions Releases Revenue Update
Projected 2nd Quarter revenue to exceed $900,000
WEST PALM BEACH, Fla., June 28, 2023 /PRNewswire/ -- Integrated Cannabis Solutions, Inc. ("Integrated Cannabis" or the "Company") (OTCPINK: IGPK), is pleased to share the following update.
The Company's combined revenue from its two subsidiaries is projected to post over $900,000 for the 3 months ending June 30, 2023. The total revenue for the 2nd quarter could post higher than expected from sales of cannabis distillate over the last few days of June. This will be our first quarter posting revenue from Houdini Labs.
The second quarter will have outpaced the first quarter by a margin of 3, and the 3rd quarter will post revenue that exceeds the second quarter.
We are anticipating higher quarterly numbers from Houdini Labs, thanks to a new piece of equipment recently installed, an ethanol chiller. The extraction process is a multi-stage process, and the chiller allows Houdini to extract 60 liters of cannabis oil and refine 30 liters in a single shift. The addition of a second piece of equipment, currently being sourced, will double Houdini's refining power to 60 liters per shift.
A second shift will be added once the new equipment has been installed, bringing the total refining power to 120 liters per day. Each liter of distillate is pre-sold before the day begins at $2,000 per liter.
The new equipment, along with a second shift, is the reason we are expecting increased revenue for the next two quarters, not including any future price increases in cannabis distillate.
The demand for clean distillate with a high potency remains strong with no signs of slowing down. California is expected to ring up nearly $5.9 billion in cannabis sales in 2023. Cannabis has taken its place as one of California's leading agricultural products, rivaling or exceeding two key crops. In 2022, grape production in the state – known for its world-class wine industry – was valued at $5.5 billion, followed by almonds at $3.5 billion.
About Consolidated Apparel.
Consolidated completes the customization of its products by employing 'Dye-Sublimation,' a technique of adornment allowing for millions of colors and unparalleled detail, on garments that are 100% polyester (man-made) or blended fabric with at least 50% polyester content. Consolidated has non-competes in place with our primary supplier of Anti-Snag performance shirts, protecting us in our marketplace. All apparel items are adorned utilizing in-house or client-supplied images and artwork. Consolidated provides customized and one-off artwork to its clients free of charge. When a client engages with Consolidated artists, proofs are created by its on-staff artists and forwarded to the client for approval. Consolidated considers its Artwork one of its most valuable assets, and 'print ready' artwork is never shared outside the company.
About Houdini Labs.
Houdini Labs ("Houdini") is a California cannabis extraction company that develops and manufactures quality THC oils and concentrates in the fastest-growing segment of the California cannabis industry. Houdini continues to team up with some of the largest brands in California while pushing purity limits. At scale, Houdini can process 1,200 lbs. per day with its advanced ethanol, CO2, and butane extraction equipment. Houdini offers an expanded extraction facility. Additional production capacity is accessible with Houdini's new modern butane extraction facility, growing its product line offerings. Houdini's services include toll processing, bulk crude and Ultra grade THC distillate production, and white-label services.
About - Integrated Cannabis Solutions, Inc.
Integrated Cannabis Solutions seeks operating companies it can acquire to increase its monthly revenue and asset base.The Company, in compliance with SEC regulations, will use social media outlets like Facebook or Twitter and its own website at www.igpk.org to announce key information in compliance with Regulation FD.
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the relative growth of the Company's future business, target markets, demand for products and services, and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations, or intentions will prove to be accurate. There are no assurances whatsoever that Houdini will generate the estimated revenues stated above. There are material risks that may prevent Houdini from being successful in meeting the estimated revenue amount. No information in this press release should be construed in any manner whatsoever as an indication of our future revenues, financial condition, or stock price.
Website: https://igpk.org
Twitter @IGPKOTC
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SOURCE Integrated Cannabis Solutions, Inc.
