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Sugarmade, Inc. (SGMD)

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Previous Close0.0026
Open0.0030
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0023 - 0.0030
52 Week Range0.0010 - 0.0200
Volume62,621,321
Avg. Volume89,213,551
Market Cap10.756M
Beta (5Y Monthly)0.03
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
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  • Sugarmade Closes Lemon Glow Acquisition, Gaining Cannabis Property Capable of 64 Tons of Cannabis Flower Production Per Annum
    GlobeNewswire

    Sugarmade Closes Lemon Glow Acquisition, Gaining Cannabis Property Capable of 64 Tons of Cannabis Flower Production Per Annum

    NEW YORK, May 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”) is pleased to announce the signing of a Definitive Agreement (the “Agreement”) for its acquisition of Lemon Glow Company, Inc. (“Lemon Glow”) and all of its assets, interests, property, and rights, including 640 acres of real estate (the “Property”) located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones. With the signing of the Agreement by all relevant parties, and the consummation of the transactions required by the Agreement, the acquisition of Lemon Glow is now closed and final. Jimmy Chan, CEO of Sugarmade, commented, “This step brings us closer to closing the loop on what we believe to be one of the most promising vertically integrated cannabis models in the thriving California market. We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute, sell, and home-deliver top cannabis products in the largest and fastest growing cannabis market on the planet. This acquisition positions us to achieve that objective with a significant capacity to scale as demand for our products and services grows over time.” The Lemon Glow acquisition includes 640 acres of property, 32 of which have already been designated for outdoor cannabis cultivation. The annual potential cultivation yield at the Property is estimated to be approximately 4,000 pounds of dry trimmed cannabis flower per acre per year, which represents approximately 128,000 pounds, or 64 tons, of dry trimmed cannabis flower per year in total. Sugarmade also benefits from the acquisition in terms of team capital as Lemon Glow executive team members will stay on and become the core management team at the cannabis cultivation site, granting the operation over 30 years of cannabis cultivation experience. “The Lemon Glow team are tremendous additions to the Sugarmade team,” added Chan. “They have vast experience and established skills, as well as intricate knowledge of the Property and its local grow context. That’s an enormous added value proposition in this deal. We look forward to bringing them on board, ramping up operations at the property, and taking key steps toward delivering on the promise of Sugarmade’s farm-to-door vision.” About Sugarmade, Inc. Sugarmade, Inc. (OTCMKTS: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue and Budcars. For more information, please visit www.Sugarmade.com. FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others, such as but not limited to; economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition, uncontrollable forces of nature and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report. Corporate Contact: Jimmy Chan +1-(888)-982-1628 info@Sugarmade.com Investor Relations Contact: EDM Media, LLC https://edm.media Corporate Communications:InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office Editor@InvestorBrandNetwork.com

  • Sugarmade Signs Binding LOI to Acquire Cultivation Operation with Potential for 64 Tons of Cannabis Flower Production Per Annum
    GlobeNewswire

    Sugarmade Signs Binding LOI to Acquire Cultivation Operation with Potential for 64 Tons of Cannabis Flower Production Per Annum

    NEW YORK, April 01, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade,” “SGMD” or the “Company”) is excited to announce the signing of a Binding Letter of Intent (the “LOI”) for the acquisition of Lemon Glow Company, Inc., a California corporation (“Lemon Glow”), including all of Lemon Glow’s assets, interests, property, and rights, which includes six-hundred-forty (640) acres of real estate (the “Property”) located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones. As stipulated in the LOI, thirty-two (32) acres of the Property have been designated for outdoor cannabis cultivation. Sugarmade and Lemon Glow management have agreed that the annual potential cultivation yield at the Property is approximately four thousand (4,000) pounds of dry trimmed cannabis flower per acre, or approximately 128,000 pounds of dry trimmed cannabis flower per year. Lemon Glow executive team members Sam Luu and Ryan Santiago will, according to the LOI, become the core management team at Sugarmade’s cannabis cultivation site at the Property, with both continuing on with the business operation under three-year management contracts. The core management team has more than 30 years of combined experience in cultivation. Sugarmade has already deposited $400K in earnest money towards the acquisition. The Company has thirty (30) days to close the acquisition from the effective date of the LOI, which has been established as March 28, 2021. “As discussed in our recent corporate update, we are taking aggressive steps toward the establishment of full farm-to-door cannabis operations at scale in the California cannabis marketplace, and this acquisition represents a major part of that strategy,” commented Jimmy Chan, CEO of Sugarmade. About Sugarmade, Inc. Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue and Budcars. For more information, please visit www.Sugarmade.com. FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others, such as but not limited to: economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition, uncontrollable forces of nature and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report. Corporate Contact: Jimmy Chan +1-(888)-982-1628 info@Sugarmade.com Investor Relations Contact: EDM Media, LLC https://edm.media Corporate Communications:InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office Editor@InvestorBrandNetwork.com

  • Sugarmade Issues Corporate Update
    GlobeNewswire

    Sugarmade Issues Corporate Update

    NEW YORK, March 25, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”) is pleased to issue the following update on operations, including information about the recent opening of its new Nug Avenue cannabis delivery operation, located in the large and rapidly growing Los Angeles metro cannabis marketplace. “We are moving forward with our core strategic plan, as announced and discussed during 2020, which consists of expanding our end-market access as a central player in the growing California cannabis delivery marketplace and developing our cannabis production capacity to verticalize our operations in the space,” noted Jimmy Chan, CEO of Sugarmade. “The successful opening of our LA delivery hub is an exciting development with strong topline growth implications given the scale of that market and our strong positioning there. And our focus on developing a vertically integrated supply chain represents continued progress toward pushing more of that growth to the bottom line, which we believe is the most effective path to directly rewarding shareholders.” As announced in February, Sugarmade recently acquired a 70% stake in the operations of Nug Avenue, which serves as a major hub for cannabis delivery services in the Los Angeles metropolitan area. Nug Avenue has been open and operating with Sugarmade involved for the past four weeks, and the results have exceeded management expectations thus far. In addition, the Company is actively pursuing acquisition of property zoned for cannabis cultivation and establishment of large-scale cannabis cultivation and production operations. As described in prior communications, Sugarmade intends to develop a full farm-to-door vertically integrated cannabis business. Chan added, “Verticalization is an important step because it carries the potential to significantly widen margins. We have taken concrete steps in support of our goal of verticalization and expect significant additional movement toward that goal before the June 30th fiscal year end.” About Sugarmade, Inc. Sugarmade, Inc. (OTCMKTS: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue and Budcars Sacramento. For more information, please visit www.Sugarmade.com. FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others. such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report. Corporate Contact: Jimmy Chan +1-(888)-982-1628 info@Sugarmade.com Corporate Communications:InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office Editor@InvestorBrandNetwork.com Investor Relations Contact: EDM Media, LLC https://edm.media (800) 301-7883