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American Green, Inc. (ERBB) has expanded its hemp product line on Amazon with the launch of its new Peppermint 250mg Hemp Lip Balm. Developed over three months, this product features natural ingredients aimed at providing relief for dry lips. The introductory price is set at $19.95 for a two-pack, valid until May 31, 2021. American Green's prior successful launch of hemp creams has driven confidence in future sales growth, as stated by company executives.
American Green announced a legal victory in Arizona Superior Court, where Commissioner David Garbarino ruled that the company’s grow building lease terms will remain unchanged. The ruling prevents a significant increase in lease payments by confirming that market rate hikes were not stipulated in the original agreement. Furthermore, the building owner is required to cover over $30,000 in legal fees incurred by American Green. This decision solidifies American Green's operational stability while protecting its substantial investment of $3 million in the West Phoenix grow facility.
American Green, Inc. (ERBB) announced it now accepts Bitcoin and other cryptocurrencies for transactions at its CBD Store and Emporium. Following extensive testing, online sales VP Kevin Davis confirmed that cryptocurrency transactions are operating smoothly. The company emphasizes that it does not speculate on cryptocurrency prices, as customer payments are converted to U.S. Dollars immediately upon purchase. The accepted cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), LiteCoin (LTC), among others, to enhance payment options and expand market reach.
American Green, Inc. (ERBB:OTC) is advancing its cannabis cultivation expansion with plans for a 20,000 square foot building in Arizona, along with an additional 16,000 square foot space. This initiative is expected to generate approximately $11 million in annual revenue, with an estimated net revenue of $7 million. The project will also feature state-of-the-art kitchen facilities for cannabis products. The architectural firm Gierczyk Architects is finalizing the design for this significant expansion.
American Green (ERBB) announced on February 23, 2021, that it will start accepting Bitcoin (BTC) payments for its CBD and Hemp products from March 2021. This move aims to enhance transaction capabilities both domestically and globally, aligning with the company's goal of expanding into international markets.
The integration of Bitcoin is expected to simplify international transactions and address potential complications related to currency fluctuations and payment security. American Green will not speculate on Bitcoin prices, ensuring all transactions are converted to US Dollars immediately.
American Green (ERBB) reported record sales and gross profits for the six-month period ending December 31, 2020. Revenue reached $892,265, a 15% increase from $773,079 in 2019, while gross profits were $636,848, up 24% from $511,510. The company’s online CBD division also saw a 10% rise in revenue and a 41% increase in profitability due to improved efficiencies. President David Gwyther expressed optimism about growth opportunities in Arizona and across the U.S.