Orchid reported its latest financial results for the year 2019, the company has made huge strides and growing at a faster clip, company added experienced executives, made several acquisitions and launched its own Direct to Dispensaries Delivery Service.
Major Milestones for 2019
· Launched line of Orchid Essentials products in California and revenue increased by 123%, from $2.5 million in 2018 to $5.5 million in 2019.
· Launched 9 new SKU's which also helped drive new customers and new sales
Acquired Forrest Green Distribution in Long Beach, CA with a BCC Type-11 provisional distribution license
· Acquired a distribution license with light manufacturing in Clackamas, OR
· Began filling cartridges and finished goods packaging in Oregon which led to a reduction in costs
· Listed on the CSE (CSE:ORCD) through a reverse takeover (RTO) of Earny Resources
· Management team changes and formation of a Board of Directors including independents Tom Soto & Robert MacDonald
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*Orchid Ventures is a client
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