YARDLEY, Penn., June 29, 2015 /PRNewswire/ -- OSL Holdings (OTCQB:OSLH) ("OSL" or "the Company") released today an update to shareholders from CEO Bob Rothenberg. The message was written to serve as an update on OSL's progress and activities.
Fellow Shareholders:
2015 has been a year of much progress for OSL. We're expanding.
This spring we announced the hire of Herndon Graddick, former CEO of GLAAD, the world's largest LGBT media advocacy organization, as Chief Marketing and Policy Officer. We also strengthened our business development bench with the addition of Jonathan D'Agostino as acting Vice President of Business Development. This month OSL added famed marketing and public relations maven Josh Baran to our team. We also added noted cannabis publicist and activist Evan Nison as our press agent.
Business at our 2014 acquisition, Go Green Hydroponics, is booming. Year-to-date sales figures put growth at more than 30 percent, year-over-year. And it's not just sales. In the spring we also announced the development of potential technological advancements in the space, with the launch of our LED grow light pilot program with Independence LED.
OSL also recapitalized, which will infuse our organization with almost three million dollars in new working capital over the next 8 months that will allow us to begin to execute on a number of profit-generating opportunities in our pipeline.
We continue to make strides to bring to market a groundbreaking technological solution to the industry's cash-only problem, which remains a very significant issue at the dispensary level.
Our footprint in the Los Angeles market is growing, with management service agreements in development with dispensaries and cultivation sites in the area. Continued updates about those deals will be forthcoming in the next weeks and months.
OSL has been featured across the mainstream and industry press as a major player in the field. Examples:
"People think, 'Oh, it's pot you throw a few seeds in the ground, you put up a shingle and you'll be printing cash.' That's obviously not the case. You're still ultimately a retail business," said Steve Gormley, Chief Business Officer at OSL Holdings -- Forbes, June 4, 2015
"I liken it to where the dot-com industry was circa 1998," says Steve Gormley, chief business development officer at OSL Holdings in Yardley, Pennsylvania. "There's a ton of opportunity, early adopters and genuine entrepreneurial innovation happening in the industry right now." And yet: "There are also predatory scam artists and black marketeers who will fleece uninformed investors dazzled by the prospect of huge returns," he says. -- US News & World Report, June 15, 2015
Steve Gormley, chief business development officer of consultant OSL Holdings Inc., compared the social momentum of the movement to that of gay marriage, but said the legislative process may come down to a matter of "The politics of Illinois is all about the almighty dollar."-- Chicago Tribune, June 5, 2015
The remainder of the year promises to be an exciting time of other changes. We are in the midst of a major rebranding effort that will premier later in the summer. Which will communicate our business vision more clearly and directly to consumers and investors as we enter into our next phase of growth.
The principals of OSL are also investors in the company. We're a fully reporting public company, but are in a many ways a start-up. We're planning for a bright future in an industry that quite literally didn't exist until recently. We're in it for the long haul and appreciate our backers and investors commitment to seeing out our vision in this exciting, rapidly growing space. Part of our new communications plan will be a commitment to update shareholders on a more frequent basis.
Stay tuned in the coming weeks and months for more news about our Company's progress.
Best regards,
Bob Rothenberg
Chief Executive Officer
OSL Holdings Inc.
About OSL
OSL Holdings Inc. OSLH is a socially conscious business model dedicated to consumer advocacy, social activism and the advancement of civil liberties through the power of commerce. We seek to serve affluent, liberal and libertarian consumer groups, a constituency that we believe responds to cause marketing and activism through two distinct business units: Equality Rewards, a technology platform delivering consumer rewards programs; and, OSL Medical Services, a management and services division dedicated to delivering services to legal medical marijuana businesses. We are a development and technology company specializing in affluent, liberal markets with high disposal income. The Company intends to operate a real-time loyalty rewards platform that can facilitate the earning and redemption of rewards currency at the point of the transaction (online, mobile, at retail) as well as on future transactions. OSL Holdings' target consumers are highly educated, respond to cause marketing initiatives and socially conscious business models, and are technologically savvy. The Company also plans to provide foundational work for branding, marketing, technology, and logistics to existing or emerging legal marijuana licensees when federal law permits.
The Company's filings with the SEC are available at www.sec.gov.
For more information, please visit the Company's website at www.oslholdings.com.
Forward-Looking Statements -- Safe Harbor
This press release contains forward-looking statements. In some cases you can identify those so-called "forward-looking statements" by words such as "may," "will," "should," "expects," "plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. These statements include, but are not limited to, our expectations concerning our expectations concerning Go Green's revenue growth, the market and growth rate for medical marijuana cultivators, and our ability to provide support services to marijuana growers, our expectations concerning our ability to launch our planned on-line marketing platform and our expectations for vendor acceptance and potential revenues from the planned operation of this website, our expectations concerning the completion of the Gold is Green joint venture agreement, our ability to obtain financing and complete the planned real estate acquisition and the identification, ability to obtain financing and complete the acquisition of future real estate projects, our ability to raise capital and our expectations concerning the contributions of our social advisory board and our expectations concerning future legislation.
By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors, risks and uncertainties that could cause actual results and developments to differ materially from forecasted results. For a discussion of these factors, risks and uncertainties please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Securities and Exchange Commission at http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
Company Contact:
OSL Holdings Inc.
IR/Media Contact:
Steve Gormley
[email protected]
SOURCE OSL Holdings Inc.
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