LiveWire Ergogenics Reports Financial Results for Third Quarter 2023
Produces Seventh Consecutive Profitable Quarter
Anaheim, CA, November 21, 2023 — LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, leasing, and licensing special purpose real estate properties and operations conducive to producing high-quality sun-grown cannabis specialty products for medical and recreational adult-use, today announces financial results for the Third Quarter ending September 30, 2023. This is the seventh consecutive profitable quarter after generating a profit for the entire year of 2022.
Q3 2023 Financial Highlights
Revenue in Q3, 2023 was $547,841, an increase of 45%
Net Profit in Q3, 2023 was $272,188, an increase of 432%
Assets increased to $7,439,702, an increase of $1,167,799.
Our Assets exceeded our Liabilities by $2,874,568
Bill Hodson, CEO of LiveWire, states, “It has taken considerable time and effort developing Estrella Ranch into a beautiful, legally, and environmentally sanctioned, high-quality outdoor cultivation operation producing the best sun-grown cannabis in California. While we are still only in the second stage on the path to the maximum acreage and revenue generation on Estrella Ranch, with every quarter, we are edging more towards optimization of the operation and more predictable financial performance. We continue to implement our deliberate and efficient business model systematically and patiently, and accordingly, have already operated profitably for the last seven quarters. As of this writing, our affiliate company, Estrella River Farms continues to harvest and prepare sun-grown cannabis for private-label distribution. The associated increasing licensing and management revenues will be reflected in Q4 2023.”
Mr. Hodson continues, “Our management team has accumulated precious experience during the last two years. We assembled the best cultivation team in California to optimize cultivation methods and ensure absolute compliance with cannabis laws and regulations. Accordingly, we have passed every quarterly inspection by the county authorities. Applying this strict regimen may have slowed us down somewhat, but it has also put us in a position where we can now begin to expand our operation to full capacity, including unique Estrella-branded products. This progress and the strict implementation of our low-overhead and efficient business model will allow us to accelerate operational results in every company sector and improve our financial performance as we move forward into 2024.”
“We anticipate the continued stabilization of cannabis wholesale prices and favorable industry changes in federal laws while cultivation competition is reduced. This will allow us to plan our budget more precisely and primarily address critical and most promising projects, including “Estrella Weedery” branded specialty items and facilitating additional white-label customers. While our industry is never without challenges, we are committed to significantly improving the return on investment for our shareholders. LiveWire is ready to take the appropriate actions to move onto the next stage as a public company and meet the high expectations for a robust performance in Q4 of this year and even better performance for all of 2024. We will provide a more detailed report on our projects in the coming months,” concludes Hodson.
The Livewire Estrella Ranch Weedery
Estrella Ranch is a historic ranch property in Paso Robles, the center of California wine country. Together with its subsidiary Estrella Ranch Partners, Livewire has transformed this stunning property into the world’s first “Estate Grown Weedery™,” with acres of high-end, organic, sun-grown cannabis products. Estrella Ranch is the central hub for all Livewire operations in California, and plans to eventually develop it into the ultimate Cannabis tourist and education destination. The Livewire “Estate Grown Weedery” cultivation process focuses on the cost-effective production of the highest quality organic-style, sun-grown cannabis in California while generating the smallest possible carbon footprint using as few of California’s energy resources as possible. Visit https://estrellariverfarms.com.
About LiveWire Ergogenics Inc.
Livewire focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations to produce high-quality cannabis-based products for statewide distribution in California. This includes developing and licensing organic-style sun-grown cannabinoid-based specialty products and services to create the high-quality “Estrella Weedery™” brand of products. Our products are cultivated by Livewire’s subsidiary/affiliate companies, Estrella Ranch Partners, Estrella River Farms, and Makana Ola Farms, and manufactured, tested, and distributed through several well-established companies in California. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act.
For more information about LiveWire Ergogenics, visit www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on X @livewireLVVV or go to www.stockwatchindex.com/livewire-ergogenics.
This release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements, predictions, and projections are inherently uncertain as they are based on current expectations and assumptions concerning the successful execution of planned events or the Company’s general future performance. Readers are cautioned not to rely on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company’s Social Media postings, and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.