CITY OF INDUSTRY, California, June 13, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTCQB: SGMD), today announces it is joining the cryptocurrency world with the acceptance of bitcoin for all purchases on its e-commerce and B-to-B websites. Bitcoins will now be able to be used to purchase the thousands of products offered on http://www.CaliGrownSupplies.com and http://www.CarryOutSupplies.com.
"We are happy to accommodate the many requests we have received for payment via bitcoin," commented, Jimmy Chan, CEO. "Our web traffic has grown substantially this year and with the recent turn up of our new website, which offers hydroponic supplies, flexible payment terms are more important than ever. Bitcoin provides our customers this flexibility while allowing Sugarmade to control costs."
Sugarmade has implemented the payment platform offered by Bitpay.com for this cryptocurrency payment function, as management believes it is one of the most flexible on the marketplace. Bitcoin payment functions are expected to be operational over the next few days. The Company expects this implementation to significantly reduce its credit card process costs, reduce chargeback fraud, and limit potential losses due to identity theft, all while allow increased flexibility for customers.
About Sugarmade, Inc. (OTCQB:SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's brands include CaliGrownSupplies.com, CarryOutSupplies.com, FreeHand ThumbTray, and Sriracha Seasoning Stix, a revolutionary culinary seasoning product under official license from Irwindale, California- based Huy Fong Foods, Inc., the maker of Sriracha Hot Chili Sauce. For more information on the Company's products, please visit http://www.Sugarmade.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
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SOURCE Sugarmade, Inc.