Publicly Traded Cannabis Company Acquired Sales Corp. Reports Increased Sales and Positive Net Income in Third Quarter
Expects 4th Quarter Sales to Surpass Q3; Launching Tobacco-Free Nicotine Pouches With Partner SMPLSTC
| Source: Acquired Sales Corp.
LAKE FOREST, Il, Nov. 16, 2020 (GLOBE NEWSWIRE) — Acquired Sales Corp. (OTCQB: AQSP) (www.AcquiredSalesCorp.com) announced that it achieved third quarter net revenue and positive net income of $1,509,437 and $95,823, respectively. Third quarter net revenue exceeded second quarter net revenue by 19%, and the company expects its fourth quarter net revenue to continue to grow.
Nicholas S. Warrender, AQSP’s COO and the CEO of its wholly-owned subsidiary Lifted Made, Zion, IL (www.LiftedMade.com), said, “So far this quarter, Lifted Made’s sales are surging. Under Lifted Made’s flagship Urb Finest Flowers brand, our delta 8 THC cartridges and gummies, CBD moon rocks, caviar cones, and our private label products are experiencing a tremendous reception from our distributors and customers. We are also developing new and exciting SKUs that are launching throughout the rest of this year and early Q1 2021 that we expect will be picked up by our existing and growing distribution channels throughout the country.”
Nicholas S. Warrender added, “In addition, we expect SmplyLifted LLC, our 50-50 partnership with SMPLSTC, Orange County, CA (www.SMPLSTCBD.com), to soon begin sales of flavored tobacco-free nicotine pouches, one of the first pouches made with non-tobacco nicotine. We believe that these pouches will be disruptive in the nicotine pouch market because while many competitors market as tobacco-leaf free, we are offering a truly tobacco-free nicotine product. Combining the strong sales, marketing and distribution of Lifted Made and SMPLSTC is a force to be reckoned with in the industry.”
Nicholas S. Warrender continued, “To accommodate this surging growth, Lifted Made continues to expand its workforce, and hopes to soon enter into a multi-year lease of a building in Kenosha, Wisconsin, with almost three times the square footage of our current space. This is the second time this year that we’ve expanded our footprint. The larger space will help us keep up with demand – the best is yet to come!”
William C. “Jake” Jacobs, President and CFO of AQSP, stated: “We are very encouraged by the fact that Acquired Sales Corp. has so far survived the pandemic without incurring any new debt other than governmental PPP and EID loans. Moreover, we are proud of the fact that no employees or independent contractors of Acquired Sales Corp. or Lifted Made were laid off or furloughed during the pandemic; in fact, we have added to our workforce. Nick Warrender’s leadership and the extremely hard work of Lifted Made’s talented team has made the difference during this extremely challenging period of time.”
About Lifted Made and Acquired Sales Corp.
Lifted Made was founded in 2015 by CEO Nicholas S. Warrender. In February 2020, Lifted Made became a wholly-owned subsidiary of publicly traded Acquired Sales Corp. (OTCQB ticker symbol AQSP). Lifted Made makes many delta-8-THC and other hemp and hemp-derived products, all of which can be purchased online at www.LiftedMade.com. Acquired Sales Corp. also owns 4.99% of CBD-infused beverage and products maker Ablis Holding Company, and of craft distillers Bendistillery Inc. d/b/a Crater Lake Spirits and Bend Spirits, Inc., Bend, Oregon. For more information about Acquired Sales Corp., visit www.AcquiredSalesCorp.com.
SmplyLifted LLC is owned equally by Lifted Made and SMPLSTC.
Based in Orange County, California, SMPLSTC was founded in 2018 by co-owners Kenneth Gates, Conor Denman and Clayton Jones. SMPLSTC is a manufacturer and wholesaler of many CBD products sold under the SMPLSTC brand name. Since its inception, SMPLSTC has grown into a distributor and co-packer in the CBD, tobacco and nicotine spaces. For more information about SMPLSTC, please visit www.SMPLSTCBD.com.
Cautionary Note Regarding Forward-Looking Statements Certain statements in this document are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes the growth and profitability strategies, and future products and plans of Lifted Made, SmplyLifted and Acquired Sales Corp. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to the actual results of Lifted Made’s, SmplyLifted’s and Acquired Sales Corp.’s operations or the performance or achievements of these companies differing materially from those expressed or implied by the forward-looking statements. Lifted Made, SmplyLifted and Acquired Sales Corp. undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain other factors, including the risk factors set forth in Acquired Sales Corp.’s filings with the Securities and Exchange Commission.