Welcome to our dedicated page for Cea Industries news (Ticker: CEADW), a resource for investors and traders seeking the latest updates and insights on Cea Industries stock.
News and updates for CEA Industries Inc. (NASDAQ: CEAD, CEADW) focus on the company’s transition from a controlled environment agriculture specialist toward a business centered on the regulated vaping and nicotine market. Company press releases highlight material events such as the acquisition of Fat Panda Ltd., changes to its Nasdaq ticker symbol, and shifts in financial reporting practices.
One major news theme is CEA Industries’ acquisition of Fat Panda, described as central Canada’s largest retailer and manufacturer of nicotine vape products. News items detail the signing of the acquisition agreement, subsequent progress updates, and the announced completion of the transaction. These releases outline Fat Panda’s 33 retail locations across Manitoba, Ontario, and Saskatchewan, its e-commerce platform, and its vertically integrated manufacturing of premium e-liquids and other vape products.
Investors following CEAD and CEADW news will also see coverage of the company’s decision to change its Nasdaq Capital Market ticker symbol from CEAD to VAPE. The company explains that this change is meant to reflect its strategic focus on the vaping industry and align its market identity with its evolving operations following the Fat Panda acquisition.
Regular financial news includes quarterly and annual results, where CEA Industries reports revenue, gross profit or loss, operating expenses, and net income or loss, along with commentary on its lean operating model, backlog of controlled environment agriculture-related work, and acquisition-related costs. The company also issues announcements about investor presentations, conference participation, and conference calls discussing its strategy and the implications of the Fat Panda transaction.
This news page aggregates these disclosures so readers can track earnings reports, acquisition milestones, ticker and fiscal year changes, and other material developments affecting CEA Industries and its warrants.
Surna Cultivation Technologies has expanded its offerings to include water treatment solutions aimed at enhancing crop health and sustainability. This new service includes comprehensive systems tailored to the specific needs of cultivators, such as water sampling, system design, and integration. Surna's solutions utilize technologies like Reverse Osmosis and Ultraviolet treatment to ensure clean water, crucial for cultivation. With over 16 years in the industry, Surna aims to optimize water efficiency for over 800 customers.
Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), announced an expansion of its offerings to include water treatment solutions. Recognizing the diverse water chemistries across regions, Surna aims to provide tailored purification systems for cultivators. Their services encompass water sampling, system design, equipment supply, and integration. Utilizing technologies like Reverse Osmosis and Carbon Filtration, Surna promotes financial and environmental sustainability through effective water conservation solutions.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) has announced a new contract signed by its subsidiary, Surna Cultivation Technologies, with a client of partner Merida Capital Holdings. This contract adds to Surna's backlog, which totals $9.7 million as of August 11, 2022. Surna will provide HVAC systems including EnviroPro air handlers and dehumidifiers for this Connecticut-based client. The CEO expressed optimism about advancing the partnership with Merida, highlighting successful past engagements.
Surna Cultivation Technologies has announced its participation in several upcoming indoor agriculture conferences. The events include the Lucky Leaf Expo in Albuquerque, NM on October 21-22, CEA Summit East on October 25-26 in Danville, VA, and the Resilient Harvests Conference in San Diego, CA on November 1-2. They will also exhibit at the MJBiz Conference in Las Vegas, NV from November 16-18.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced the adjournment of its 2022 annual meeting of stockholders to October 6, 2022, due to insufficient quorum on August 29. As of now, 44.512% of eligible shares had been voted, with 41.418% in favor of the adjournment. The Company encourages shareholders, especially those holding through brokerages, to vote their shares to ensure participation. Key proposals include the election of five director nominees and the selection of Sadler, Gibb & Associates as the independent auditors for the fiscal year ending December 31, 2022.
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Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), is set to participate in several key trade conferences in August and September 2022. These include the Cannabis Conference in Las Vegas from August 23-25, CannaCon in Chicago on August 27-28, and the Benzinga Cannabis Capital Conference on September 13-14. These events aim to enhance industry knowledge and facilitate networking opportunities for cultivators and investors.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported a revenue of $3.0 million for Q2 2022, down 33% year-over-year, attributed to supply chain issues. Despite a 73% increase from Q1 2022, gross profit fell to $306,000 with a gross margin of 10.2%, down from 28.4% in Q2 2021. The company incurred a net loss of $1.8 million compared to a profit in the previous year. However, net bookings rose 67% to $1.5 million, and backlog increased 21% to $9.7 million. Management remains optimistic about growth initiatives and has a backlog of $10 million expected in the next 18 months.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) will host a conference call on August 11, 2022, at 4:15 p.m. ET to discuss its second-quarter results ending June 30, 2022. The call will be led by company management, followed by a Q&A session. Interested parties can submit questions via email or listen to a replay available for two weeks post-call on the company’s website beginning August 12, 2022. CEA Industries focuses on controlled environment agriculture systems, targeting growth through strategic partnerships and acquisitions.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced a strategic agreement with Merida Capital Holdings to become the sole provider of products and services for Merida's indoor cultivation facilities. This partnership builds on existing collaboration through Surna Cultivation Technologies LLC, enhancing Surna's offerings of engineering services, HVACD equipment, and facility design. Merida's investment in CEA Industries reflects confidence in their capabilities to create efficient cultivation environments, aiming for growth in the cannabis sector.
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