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Pure Harvest Corporate Group, Inc. (OTCQB: PHCG) reported significant growth in its Q2 2021 financial results compared to Q2 2020. Revenue surged from $3,951 to $762,778, with a gross profit increase from -$36,114 to $150,660. Year-to-date revenue reached $1,556,926 against $5,041 in the prior year. Notable operational highlights include a successful first year for Pure Harvest Colorado's retail facility, a partnership with Doc.U.Care, and the introduction of award-winning products like Hemparita.
Pure Harvest Corporate Group (PHCG) has signed an agreement with Doc.U.Care to supply CBD products under self-insured corporate health and wellness plans. This partnership will enable individuals and their families within a network of Third-Party Administrators (TPAs) to access a range of hemp-derived health products. The agreement potentially reaches 550,000 employees currently, with an opportunity to expand to an additional 2.2 million by late 2022. Executives from both companies express confidence that this collaboration will revolutionize healthcare and increase acceptance of CBD products in preventative care.
Pure Harvest Corporate Group (OTCQB: PHCG) has appointed Alexis Johnson to its Advisory Board, reflecting the company's commitment to social equity in the cannabis and hemp industry. Johnson will spearhead the development of the company's Corporate Social Responsibility (CSR) program, focusing on education and social justice initiatives. Her involvement aims to enhance Pure Harvest's business interests along the east coast and internationally. CEO Matt Gregarek emphasized the company's commitment to creating a more equitable cannabis industry.
Pure Harvest Corporate Group (OTCQB: PHCG) has announced the launch of its new wellness product line, Zosi, designed to enhance the endocannabinoid system. Utilizing Complex 612, a proprietary ingredient that incorporates a full-spectrum hemp extract along with functional mushrooms and eastern herbs, Zosi aims to provide consumers with natural alternatives to traditional pharmaceuticals. Products are now available across the U.S. and include ingredients like ashwagandha, turmeric, and reishi mushroom.
Pure Harvest Corporate Group (OTCQB: PHCG) reports a remarkable 92.65% increase in Q1 2021 revenue to $794,148, compared to $412,228 in Q4 2020. This revenue surge surpasses the 2020 total revenue of $735,690 and is a significant leap from Q1 2020's $1,091. The growth is attributed to sales from its Colorado marijuana operations and the revenue generation by its subsidiary, Test Kitchen, through a new white label program. CEO Matthew Gregarek emphasized the company's potential for diversified revenue generation.
Pure Harvest Corporate Group (OTCQB: PHCG) announced that Harbinger Research, LLC has initiated research coverage on the company. CEO Matt Gregarek expressed enthusiasm for the report, highlighting its comprehensive analysis of PHCG’s business model and financial forecasts. The U.S. cannabis market, projected to reach $85 billion by 2030, offers substantial growth opportunities. Since 2018, PHCG has adopted an 'acquire and integrate' strategy, achieving record sales in several recent acquisitions.
Pure Harvest Corporate Group, Inc. (OTCQB: PHCG) reported unprecedented revenue growth for 2020, surpassing 1,800% compared to 2019, driven primarily by its marijuana operations in Dumont, Colorado. Q4 2020 sales exhibited a staggering increase of over 8,400% year-over-year and a 29% rise sequentially from Q3 2020. CEO Matthew Gregarek expressed pride in the team’s efforts and confidence in maintaining growth moving forward, citing expectations for strong Q1 2021 results despite challenges posed by COVID-19.
Pure Harvest Corporate Group (OTC: PHCG) announced promising initial test results of its LED lighting technology for cannabis cultivation in licensed facilities in Denver, Colorado. The tests conducted by DC Energy Group showed favorable outcomes in multiple harvests, suggesting potential improvements in production. The Infinergy™ system integrates LED fixtures with energy solutions like solar power and battery storage, aiming to reduce the carbon footprint of cannabis growing. Management emphasizes this technology could revolutionize energy management in agriculture.
Pure Harvest Corporate Group (OTCQB: PHCG) announced the launch of a new website for its subsidiary, Sofa King Medicinal Wellness Products, supporting the SKM Extracts line of premium cannabis products. Established in 2014, the SKM brand includes a variety of cannabis extracts now available in Colorado dispensaries. The company reported a robust month in March 2021, with wholesale revenue rising more than 75% compared to February 2021, leading to over a 30% increase in quarterly revenues. The CEO expressed enthusiasm for the brand's growth and quality.
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