ANAHEIM, CA / ACCESSWIRE / October 13, 2020 / GreenGro Technologies, Inc. (OTC PINK:GRNH), an established provider of eco-friendly green technologies for the cannabis industry, announced today that the Company's Updated Financials have been posted to OTCMarkets.com.
In March, James Haas, COO of the Company contracted a serious bout of Coronavirus, battled for 3 months, and has recovered fully. Consequently, the Company's financials were submitted late, but corporate advancements have continued.
Management has been focused on the accelerated completion of the Genobreeding Seed Genetics program. Full scale operations have recommenced, and forthcoming announcements regarding progress are expected. With the marijuana markets in California, near doubling since the start of the Coronavirus pandemic, the Company's salesforce thru Cannabis Ventures Inc. is also expanding. In pursuit of building the Company's footprint in the overall industry, the CBD Ventures industrial hemp farm is moving from the current 2.5 acre location to a larger property. Details will follow.
'We are exceedingly delighted to be back on track. With the legislative and overwhelming Marijuana market response to the pandemic, we believe that resulting momentum will yield an increased demand that will put us in a better position than we would have imagined it could. We want to thank our investors for their continued support, and look forward with great anticipation to the continually developing landscape right ahead.' said James Haas , Chief Operating Officer of GreenGro Technologies, Inc.
The CBD Ventures and Genobreeding Divisions continue moving forward on the propagation of feminized low-THC, high-CBD hemp seeds. Distinctly bred to stand out in quality, these proprietary top-quality hemp seeds from the vital genetic structure being exclusively developed for full-scale production in the Company's unique and proprietary greenhouses.
According to a recent CNBC report, '…U.S. cannabis CEOs say the chances for federal marijuana legalization will dramatically increase in the wake of the coronavirus pandemic, after several states declared dispensaries essential businesses, allowing them to remain open during stay-at-home orders aimed at halting the spread of the virus. The report highlighted that 'According to Cowen estimates, the U.S. cannabis market is worth approximately $56 billion in 2020 with about 90% of sales going untaxed in the illegal market.' Weekly sales in March topped $134 million in California, Washington, Nevada, and Colorado, a 17% increase from the weekly average in 2019. In the second half of March, the average purchase also increased by 47%.
About GreenGro Technologies, Inc. GreenGro Technologies, Inc. (OTC:GRNH) is a vertically-integrated provider of eco-friendly state-of-the-art technological solutions to the cannabis industry. The Company is a trusted partner to the cultivation, extraction, production and retail aspects of the cannabis market through a combination of three operating divisions that encompass extraction, CBD production and Genobreeding development. Each division is able to leverage the strengths of the other, creating a synergistic, efficient and highly profitable business model. Additional details can be found by visiting the Company's website at www.greengrotech.com.
For additional information about GreenGro Technologies and its solutions, please visit www.greengrotech.com.
Safe Harbor Act: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting t
he company's best judgment based upon current information and involve several risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.)
SOURCE: GreenGro Technologies, Inc.
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