COCONUT CREEK, Florida, May 13, 2020 /PRNewswire/ -- Global Consortium, Inc., (OTCPINK: GCGX) brand Indulge Oils is pleased to announce its finished product, with potency tests showing mid to high 80s, began rolling off the line at the end of April. This marks the introduction of the revenue phase of the company, allowing GCGX to be among the few cannabis companies to become cash-flow positive.
The finished product must now go with a Distributor who will send out a sample to be tested by an independent lab. Upon issuance of a certificate of analysis by the testing laboratory that the cannabis batch has passed the testing requirements pursuant to this division, the distributor shall conduct a quality assurance review before distribution to ensure the labeling and packaging of the cannabis and cannabis products conform to the requirements of this division.
The Distributor must hold each lot in quarantine aka "storage" for 30 days prior to any sale taking place.
Indulge Oils will essentially be building up a pipeline of oil ready for sale after each batch comes off quarantine.
A couple of liters from each batch will be used to have carts made. One liter of oil can produce approximately 2,000 carts that can sold wholesale for initially $8.00 a cart, drastically increasing the profit margins from a single liter. As the market learns of the return of Indulge Oils and the brand begins to build momentum again, the wholesale price will go up and more carts will be made.
In the summer a new line from Indulge Oils will be released "Indulge Reserve" these will be for the refined palate seeking a smooth crisp taste with a potency level of 90% or better. These carts will be limited and sold for a premium.
Global Consortium, Inc., owns the brand Indulge Oils which is being manufactured and sold in California.
Global Consortium, Inc., in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg. FD.
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, the release of corporate apps, growth of the platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk.
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SOURCE Global Consortium, Inc.