On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Sugarmade (SGMD) 8K Filing Notes Status, Potential of Upcoming LA-Based Cannabis-Delivery Locations

  • SGMD has filed updated Form 8K Current Report with SEC
  • Filing includes information about issues related to company’s status, including planned expansion of BudCars cannabis-delivery service
  • Sugarmade sees “major business opportunities out of both sites once operations begin”

Sugarmade (OTCQB: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, has released the publication of a Form 8K Current Report filing with the United States Securities and Exchange Commission (“SEC”) (https://cnw.fm/DbFD5). The filing includes specific information about several issues related to the company’s performance and outlook, including planned expansion of the BudCars cannabis delivery service.

According to the filing (https://cnw.fm/KwjTl), the highly successful Sacramento, California-based BudCars, which has reported record sales for the past several months (https://cnw.fm/ak5f5), has plans to open two hubs in Los Angeles in the coming months.

“One of the Los Angeles sites is behind schedule, and the other is well ahead of schedule,” the filing reported. “We still expect both to become operational as soon as final issues are resolved.” Sugarmade, which has a 40% interest in BudCars with an option to purchase a controlling interest, noted that last-minute regulatory issues were causing some delays in opening of the first location.

“The first of these expansions was expected to go online during July, and significant progress toward opening has taken place,” the filing noted. “Unfortunately . . . we are still working to get the security plan approved by local authorities, and we have a few minor issues relative to facilities build-out concerning the Americans with Disabilities Act (‘ADA’). As soon as these final issues are cleared, we plan to begin operations.”

“On the positive side, we are ahead of schedule at the other Los Angeles site,” the report continued. “We are happy to report the turn-up of this second site could occur sooner than was expected. Of course, we see major business opportunities out of both sites once operations begin. We will be sure to keep everyone updated. We are working hard daily on both sites.”

The filing noted that the cannabis delivery trend is growing substantially. “This is resulting in increases in the number of new customers and in the average sale size on a per-delivery customer basis,” the filing concluded. “We see cannabis delivery continuing to accelerate. Certainly, the Los Angeles market is especially robust relative to delivery services.”

BudCars is a retail business that offers same-day delivery of top-quality cannabis. Customers choose from a variety of products, including edibles, flower, pre-rolls, vapes, tinctures and concentrate across dozens of premium brands. Once consumers complete their purchases online, they receive their order the same day via BudCars Cannabis Delivery Service.

Sugarmade Inc. is a product and branding marketing company investing in operations and technologies with disruptive potential. In addition to its financial interest in the BudCars brand, SGMD’s brand portfolio includes CarryOutsupplies.com and SugarRush(TM).

or more information, visit the company’s website at www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Archives

Select A Month

Official NewsWire Relationships

Benzinga Cannabis Capital Conference Cannabis Business Summit & Expo 2019 Cannabis Drinks Expo Cannabis World Congress & Business Exposition MjMicro Conference New England Cannabis Network O'Cannabiz Conference & Expo USA CBD Expo

CannabisNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 303.498.7722