Anaheim, CA – August 22, 2019 – LiveWire Ergogenics, Inc. (OTC: LVVV) announced today that it is has filed its Second Quarter 2019 Financial Report with OTC Markets, showing significant improvement in revenue for the quarter.
LiveWire Ergogenics, through its subsidiary GHC Ventures, generated $371,876 in revenue, a significant improvement over the same period last year. The increase in revenue of over 2000% is a result of State licensed Distribution and Nursery operations in California. General and Administrative costs increased slightly to $176,571, due to the additional personnel to manage GHC operations. At the same time, the Company has been able to reduce its stock-based compensation significantly and did not issue any new shares during the second quarter of 2019, keeping down dilution for our existing shareholders.
Bill Hodson, CEO of LiveWire stated, “To continue this path of aggressively increasing revenues, we have substantially expanded the operation of our subsidiary, GHC Ventures, and have implemented an all-encompassing software tracking system to capture all transactions. The system allows us to track and trace every transaction and comply with California State and tax authorities’ rules and regulations that come along with this growing industry. Below you will find a summary of all milestone achievements within our group of companies for the last few months that we believe will have a positive impact in the months ahead.”
- Finalized acquisition of a 265-acre Ranch in Paso Robles, California via our subsidiary to establish the world’s first Estate Grown Weedery.
- Received cultivation/nursery and distribution permits for nursery in Coachella, California.
- Received cultivation/nursery Minor Use Permit for its nursery in Paso Robles, California.
- Received Annual CA State distribution license from the California Bureau of Cannabis Control.
- Began operation of statewide distribution division GHC Ventures for distribution of cannabis products throughout California.
- Applied for Minor Use Permit for outdoor cultivation on Estrella Ranch.
- Commenced the vetting process and begun negotiations with several potential third-party operators for Estrella Ranch.
- Executed “7X Pure” Private Label Agreement with botanical company with first product release imminent.
- Engaged research teams with highly recognized athletes and published experts to commence with leading-edge research to explore the application of cannabinoid products for human and equine applications.
- Advancing plans for expansion into the sports and cosmetics markets for CBD or THC infused products.
- Continuing to explore potential acquisition targets and strategic alliances.
- Continued preparation for up-listing to OTCQB through financial audits and OTC filings.
We will keep you updated, and we appreciate your trust and loyalty.
In the meanwhile, enjoy the video of our Paso Robles Estate Grown Weedery.
About LiveWire Ergogenics, Inc.
LiveWire Ergogenics, Inc. (LVVV) specializes in identifying and monetizing current and future trends in the human and veterinarian health and wellness industry. The Company is focused on acquiring, managing and licensing specialized “closed loop” turnkey cannabis real estate locations of fully compliant and permitted turnkey facilities to produce cannabis-based products and services in California and the state-wide distribution of these products. This includes verification of zero pesticide products for quality brands via its “7X Pure” Cannabis Verification System, and the development, licensing and distribution of legal, high-quality cannabinoid-based products and services. LiveWire Ergogenics does not sell or distribute products that are in violation of the Unites States Controlled Substance Act.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for current or future operations and the development, regulatory approvals and commercialization of the Company’s products, systems and services. Such forward-looking statements are not meant to predict or guarantee actual results and performance, specific events or circumstances, and actual events may differ materially. Factors that may cause actual results to differ materially from any projections may include, without limitation, delays in the development of its properties and products, the impact of significant new or changing government regulation in the industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s inability to generate sufficient revenues and profits, or to obtain additional financing for the implementation of the Company’s business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
LIVEWIRE ERGOGENICS INC.
1600 North Kraemer Blvd.
Anaheim, CA 92806