Kush Bottles Second Quarter Sales Surge 249% to $10.36 Million – New Cannabis Ventures

Kush Bottles Reports Second Fiscal Quarter 2018 Results

Revenues Increased 249% Year-over-Year to approximately $10.36 million

SANTA ANA, Calif., April 11, 2018 /PRNewswire/ — Kush Bottles, Inc. (OTCQB: KSHB), a leading provider of packaging, supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry, today reported financial results for its second quarter of 2018, for the period ended February 28, 2018.

Fiscal Second Quarter Financial Summary

Revenue was up 249% Year-over-Year to $10.36 million. Gross margins were 28.1%, compared with 35.6% in the prior year period, which is attributed to increased business in the lower margin vaporizer and cartridge product segment(s). Net loss, including $1.0 million in non-cash stock compensation, $206,000 in depreciation and amortization expense and $2.6 million in SG&A, was approximately $920,000 compared to net income of $3,619 in the fiscal second quarter of 2017. Cash balance was $7.1 million as of February 28, 2018 compared to $0.9 million at August 31, 2017. This increase was primarily a result of a $6 million equity investment by the Company’s new strategic partner, Merida Capital Partners. Working

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