LOS ANGELES, CA, April 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – NUGL Inc. (NUGL) (the “Company”), a one-stop shop for all things cannabis through the intelligent connection of consumers and companies, has posted its 2018 year-end financials. NUGL is pleased to announce that the Company has recorded its first revenue during Q4 as a result of the completion of significant technological developments and a strategic acquisition.
The complete filing is available at the following link: http://www.nugl.com/invest.html
“While this early revenue is not significant with regard to its overall dollar value, at this point it is tremendously significant insofar as it proves that a cannabis start-up with a vision to create a monetizable hub of commerce in this space is now actually producing revenue,” stated Brandon Vargas, CEO, NUGL. “Our apparatus is built, our network is built, and we can now aggressively pursue increased revenue through these now proven channels.”
NUGL is excited about generating advertising revenue with the launch of its ad server and purchase of Nichols Publishing in late 2018 which included two influential industry publications. “The acquisition of Nichols Publishing was a great strategic move that brought immediate revenue into the company and gave NUGL the ability to expand on this sale,” stated Robin Nichols, President of NUGL Media Group. “We are acquiring and developing a multi-media universe of publications and reach, all of which will be used to funnel highly targeted traffic to our ad engine.”
NUGL’s sales have been growing month after month with advertising revenue. NUGL is launching NUGL Magazine, its third print magazine, on 4/20 this month. “This publication will give us even more cannabis readers and a sales platform,” stated Nichols. “And of course, having a publication named for NUGL assuredly helps us create our thought leader status in the rapidly growing cannabis sector.”
NUGL is launching NUGL 2.0 this month. NUGL 2.0 aspires to be the best social media platform in the market with unique and new revenue streams. Social media is the number one advertising revenue generator in in the world and continues to grow. Combining NUGL print and digital footprint with an integrated social platform looks to be ground breaking.
“We are on to Phase 2 of our business plan,” added Vargas. “With significant technology and acquisition costs now behind us and a model we think can be rapidly scaled, it is now our absolute goal to become profitable in the very near term,” said Vargas. “NUGL has turned a corner, right on schedule, and we expect this next phase to be tremendously significant for the Company and its shareholders.”
NUGL is the world’s first cannabis search app built for the people, by the people. Our goal is to build the most user-friendly app experience in the cannabis industry by listening to our users and giving them what they want. NUGL is the only cannabis search app that offers equal and unbiased search results. We don’t sell top-spot listings or fake reviews, so our data stays true. Use NUGL to search for genuine user-rated dispensaries, strains, doctors, lawyers, cannabis service providers, vape shops, hydro stores, brands and more. NUGL’s flexible web app has no geographic limitations and can rapidly connect cannabis companies, related vertical services and users. The NUGL iOS and Android app brings a powerful cannabis search tool within reach of anyone, anytime, anywhere with the ease of a smartphone.
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LinkedIn (LI) - https://www.linkedin.com/company/nuglapp/
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: "plans", "anticipates," "expects," "believes" or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in the company's business plan and filings with the OTC Markets Group.
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