Second Quarter 2018 Financial and Operating Highlights
Record Sales of $12,349,000 , an increase of 203% compared to Q2 2017
Record Gross Profit of $9,060,000 , an increase of 219% compared to Q2 2017
Record GAAP Net Income of $3,186,000 , an improvement of $4,178,000 compared to Q2 2017
Record Adjusted EBITDA $3,806,000 , an improvement of $4,087,000 compared to Q2 2017
Increased Retail Channel Distribution to 1,968 Stores as of June 30, 2018 , an 11% sequential increase over the Company’s retail store count for the first quarter of 2018
Continued Progress in Drug Development Division including preclinical progress with CVSI-007, the Company’s patent-pending synthetic-based cannabidiol, which will be co-administered with nicotine to provide treatment options for smokeless tobacco use and addiction, currently a multibillion-dollar market with no currently FDA -approved drugs available to help patients.