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CLSH

CLS Holdings

$0.00

(0.00%)

08:29
07/09/19
07/09
08:29
07/09/19
08:29

CLS Holdings reports June revenue $1.04M

CLS Holdings USA highlighted its financial and operational results for the month of June 2019, with revenue of $1,046,242. Results are compared to those of Alternative Solutions, the entity CLS acquired in June 2018 that operates Oasis and City Trees. CLS Holdings' Oasis dispensary saw June revenue of $679,184, an increase of 126% from June 2018. The dispensary serviced 16,539 customers in the month, an 88% increase from June 2018. City Trees, the Company's branded product division, had revenues of $367,059, a 214% increase from $117,005 in June 2018. Gross margin for the Company in June was 49%, up from 39% gross margin of Alternative Solutions in 2018. City Trees continued to maintain its active customer base. Oasis Cannabis Dispensary continues to see a dramatic and consistent increase in customers serviced. The dispensary serviced 16,539 customers in June of 2019, versus 8,787 in June of 2018. City Trees continues to gain market share and see demand for its products and is expanding its product line to meet the demands of the marketplace.

CLSH CLS Holdings
$0.00

(0.00%)

02/22/19
ADAM
02/22/19
INITIATION
ADAM
Speculative Buy
CLS Holdings initiated with a Speculative Buy at Canaccord
Canaccord analyst Bobby Burleson initiated CLS Holdings with a Speculative Buy rating. He believes the multi-state cannabis operator, with planned operations in the legal recreational and medical Massachusetts and Nevada cannabis markets, will be positioned to capitalize on growing demand for legal cannabis in the U.S. after closing key acquisitions. Burleson has a C$1.50 price target on CLS Holdings shares.

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