Vertically integrated cannabis technology company Generation Alpha, Inc. (OTCQB: GNAL) this morning announced its operating results for the three and nine months ended September 30, 2018. Among the highlights from the nine-month period, Generation Alpha reported $2.6 million in revenue from its lighting and nutrient offerings, as well as a cash balance of $2.1 million. The company also reported “substantial progress” with the construction of its Arizona facility, which is expected to commence processing revenue in early 2019. “We are happy with the progress being made at our 70,000 square foot Arizona facility. With manufacturing targeted to commence in early 2019, we are excited to soon move into the revenue generation stage,” Alan Lien, CEO of Generation Alpha, stated in the news release. “While our lighting business has seen a significant decrease this year, we are beginning to see an increase in demand for our lighting and nutrient products as the industry begins to stabilize and additional legalized states come on board.”
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About Generation Alpha, Inc.
Generation Alpha, Inc. focuses on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Generation Alpha’s lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. Generation Alpha’s customers include retail stores, distributors, ecommerce, and commercial growers. In 2018, Generation Alpha expanded into the “touch-the-plant” side of the cannabis business under a contract with an Arizona licensee and its ongoing build-out of a cultivation and processing facility in Phoenix, AZ. For more information, visit the company’s website at www.GenAlphaInc.com
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