However, the past several months have marked a return to pre-pandemic levels. While the cannabis industry is still predicted to expand and grow, the industry is witnessing an adaption curve. Between heavy taxation, cultivators abandoning licenses, and the pressure of growing inflation, many companies have put up “For Sale” signs or are looking at tough times ahead.
A Diamond In The Rough? The Party’s Just Getting Started For LiveWire Ergogenics
LiveWire Ergogenics, Inc. (OTC:LVVV)
(“LiveWire”) is a company that focuses on acquiring and managing special-purpose real estate properties that will serve as bases to help discover and develop high-end organic cannabis specialty products. LiveWire firmly positions itself in the center of the health and wellness industry.
The cannabis industry as a whole has seen a recent downturn in profits resulting in missed rent payments and cultivation facilities shutting down. While the industry as a whole is looking at positive growth, the reality on the ground for many cannabis companies may be bleak. Property deals have been falling through more frequently as companies struggle to make ends meet. Companies are facing difficulties with the slowing general economy paired with legislative challenges that plague the cannabis industry. Public policy is an uphill battle.
Despite these challenges in the market, LiveWire is prospering. Its Q2 results show solid growth and a positive future. In Q2, LiveWire generated $463,313 in revenue, which was a 323% increase from 2021’s Q2. Net profit also saw considerable growth; the company’s net profit was $183,122 in Q2 compared to a loss of $579,792 during 2021’s Q2.
LiveWire believes that U.S. cannabis companies must be well-managed and offer unique and high-quality products via legal and environmentally conscious operations, not low-quality mass production. That is a significant component of their success and the Company believes that diligent and disciplined investors will be presented with an exciting second opportunity to benefit from one of the last decade’s fastest-growing markets for any industry. They expect to see reliable growth in cannabis industry sales going forward, and while still in the revenue startup phase that seems to already reflect in their own sales.
LiveWire has developed Estrella Ranch as the central hub for all LiveWire and subsidiary operations. This property is being developed into the first “Estate Grown Weedery,” and eventually the ultimate cannabis destination in California.
As of October, the Ranch has passed all quarterly inspections by the county and state and was renewed for its annual permit. The Estrella Ranch has also received nine new cultivation permits that will allow for an expanded outdoor cultivation area. As Q3 and Q4 approach, the company is exploring the buildout of an already existing building on Estrella Ranch as an indoor cultivation area. If implemented and considered economical this is expected to help further drive revenue.
Based on Livewire’s philosophy that any cannabis company has to be subject to strict financial principles and must operate with low overhead and reasonable debt burden to produce increasing revenues and profits, LiveWire does not seem to be experiencing the same dilemmas that other companies in the industry are facing. If their Q2 report and business expansion plans are any indications, LiveWire seems to have a strong future ahead of it.
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