16 Mar, 2018, 08:25 ET
SACRAMENTO, Calif., March 16, 2018 /PRNewswire/ -- Smart Cannabis Corp, (OTC: SCNA), posted their 2017 annual report to OCT Markets today.
The company reported 2017 revenues of approximately $3.12 million, an increase of approximately 1286% over 2016 revenues of approximately $225,000. The company increased its assets to approximately $1.3 million, an increase of approximately 270% over year-end 2016. The company ended the year with $455,000 in cash, after making investments in manufacturing equipment, increased marketing, and a one time non-cash related accounting charge for issuance of stock. The company's financial disclosure reports are available at www.otcmarkets.com.
Don Smith, Executive Vice President of Smart Cannabis stated, "John Taylor and I are very pleased with what has been accomplished in just 14 months since starting this company. We have installed over 30 automated greenhouse systems in the last year and feel strongly that our teams are ready to efficiently handle any project. We've become well-established in order to grow strongly."
Updates will continue to be shared on the Smart Cannabis website and social media outlets as they happen.
Smart Cannabis (OTC PINK: SCNA) is a public equity corporation advancing the agriculture and cannabis industries and growing through acquisition, strategic alliances, and proprietary intellectual property. The company's wholly owned subsidiary, Next Generation Farming Inc., provides turnkey, automated, commercial greenhouses systems that efficiently improve yields and decrease water consumption for cultivators of organic food and cannabis crops. The company websites are http://smartcannabis.com and http://nextgen.farm.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. The company may make forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates that reflect the company's best judgment based upon current information. All investments involve 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.
Smart Cannabis Corp.
Don Smith, Vice President
SOURCE Smart Cannabis Corp.
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