SACRAMENTO, Calif., Nov. 15, 2017 /PRNewswire/ -- Smart Cannabis Corp, (OTC PINK: SCNA), http://smartcannabis.com today filed its third quarter 2017 financial reports with OTCMARKETS reporting $701,903 in gross revenue. The company's gross margin remained above 50%, and net operating income before allowance for taxes was $137,305.
John Taylor, President of Smart Cannabis Corp, stated, "We are encouraged that our commitment to operating with excellence is resulting in positive financial outcomes. Our fourth consecutive quarter of growth in this explosive sector demonstrates that our SMART™ greenhouse design and automation systems represent best in class design, functionality and value, evidenced by customer results and our growing pipeline of large scale projects we are winning in the marketplace. The decision to manufacture many of our components in-house, and to create our own SMARTAPP™ mobile control system, has resulted in unprecedented remote automation, faster deployment times, and of course, a highly profitable company that support our clients as they thrive."
According to Vice President Don Smith, "Our plan of investing in marketing resources just before FINRA approved our name and symbol change is paying off. We are experiencing greater interest in Smart Cannabis Corp and have budgeted to continue executing a robust public relations and marketing strategy."
Smart Cannabis remains ranked among the top five in The Marijuana Index Agtech sector, number one being Scotts Miracle-GRO, a $5.7 billion company. Smart Cannabis Corps' market value is approximately $217 million with YTD revenues of more than $3 million and profits of 1.4 million. Comparatively, other bellwether cannabis sector companies, including Medical Marijuana Inc., valued at $302 million, reporting 2016 revenues of $8 million and a $26 million loss; Cannabis Science, valued at $85 million, reporting 2016 revenues of $9000 and a $9.9 million loss; and Greengro Technologies, valued at $18 million, reporting 2016 revenues of $918,000 and a $2.8 million loss.
About Smart Cannabis
Smart Cannabis Corp., (OTC PINK: SCNA) is a public equity corporation focused on the advanced agriculture and cannabis industries with plans to grow through acquisition, strategic alliances, and proprietary intellectual property. The company's wholly owned subsidiary Next Generation Farming Inc. provides turnkey commercial SMART greenhouse and automation systems that improve yields and decrease water consumption for cultivators of organic food and cannabis crops. The company's websites http://smartcannabis.com http://nextgen.farm.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
SOURCE Smart Cannabis Corp.