Integrated Cannabis Solutions Releases Shareholder Update
WEST PALM BEACH, Fla., June 23, 2023 /PRNewswire/ -- Integrated Cannabis Solutions, Inc. ("Integrated Cannabis" or the "Company") (OTCPINK: IGPK), is pleased to share the following update.
The Company recently filed its 2022 Annual Report and its First Quarter Report, which both reported revenue for the Company's first time. The Company also saw a significant increase in Assets. Over the next 6 months, Consolidated Apparel will be enacting cost-cutting measures that should reduce its annual operating costs by as much as $150,000 a year.
The Second Quarter will be very exciting for IGPK. The Company will release combined revenue for both Consolidated Apparel and Houdini Group. The second Quarter is expected to see a significant increase in monthly revenue and a sizable increase in the Company's Assets. With all the consolidation in the cannabis market in California and the steady increase in the price of cannabis distillate, IGPK expects to see the next 3 quarters report a noticeable increase in revenue quarter over quarter.
Our wholly owned-subsidiary Consolidated Apparel has been making strides into the West Coast market, most recently welcoming the prestigious Catalina Yacht Club as a client. Consolidated has seen steady growth in the yachting market this year that it can continue to build upon next year.
Consolidated has launched a new product, a hoodie which is the first sweatshirt the Company has offered. The first order was for over 500 pieces causing the Company to triple its initial order of blank hoodies. Gene Caiazzo, our CEO, stated, "We are very excited about the buzz we are getting about the hoodie. Normally a client's opening orders would be 72 or 144 pieces, not 500 or more. This tells us we have a winner"
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 of 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.
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SOURCE Integrated Cannabis Solutions, Inc.
