Sundown Island Team Inc. (OTC: SIGO) has acquired Calamus Brands for a concealed quantity. Sundown Islands claimed that the purchase of Calamus Brands would certainly enable it to increase its procedure.
The firm declaration claimed that the growth when finished would certainly consist of 205,000 square feet of marijuana procedures. This will certainly consist of baby room procedures, circulation, production, and also growing. The initial stage has actually started with the arrangement and also licensing of the existing 35,000 square feet of Greenhouse area that will certainly be made use of for our baby room procedure. This is a substantial rise from the 10,000 square feet the firm presently inhabits.
Sundown Island notes itself as an OTC-traded supply, nevertheless, the supply was put on hold for not reporting its financials. The last time the firm upgraded investors via an SEC declaring was a quarterly record in 2020. Back then, Sundown reported no earnings in 2017 and also 2018. The firm last reported in July of 2018 that it has $52,236 in money and also had a bottom line because last quarter of coverage of $949,454. The bottom line for 9 months finishing in July 2018 was $2 million.
Nevertheless, on the OTC Markets web page, Sundown reported earnings of $2.9 million with a bottom line of $1.4 million in 2021. The firm provided money of $1.4 million at the end of 2021, yet responsibilities of $10.5 million.
According to that last declaring, Sundown claimed it ran its marijuana expanding, growing, production, and also circulation service via its wholly-owned subsidiary VBF Brands. “VBF Brands ran as a Nonprofit Mutual Advantage entity till December 21, 2017, when it was transformed to a For-Profit entity. Before December 21, 2017, VBF Brands ran as a cumulative under the Compassionate Usage Act. Given That VBF Brands was running as a Not-for-profit till December 21, 2017, the firm identified that it can not schedule any type of earnings from the tasks connected while it ran as a cumulative under the Compassionate Usage Act and also as a charitable.”
The last time the firm upgraded the marketplace on its growing development remained in March 2018.
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