Liberty Health Sciences Inc (OTCMKTS:LHSIF) has reported a significant increase in sales revenue in its recent quarter, which ended November 30, 2018. The company reported a 45% increase whereby revenue totaled $3.2 million. The company also experienced a 46% increase in patient count, which translated to a total of around 14,500 patients. The expanding dispensary base is considered the primary reason for the continued growth.
In the last quarter, Liberty opened three additional dispensaries. Reports have it that plans are underway to open another seven dispensaries before the end of February 2019. Nonetheless, the upcoming move will target suitable locations with a growing patient count.
Efforts to meet the demands of the growing patient base
Liberty has confirmed that the patient count has been increasing by the day. This is the reason why it is putting in extra efforts to accommodate the demands of the growing numbers. The cannabis provider says that it is focusing on operational excellence and genuine care for all its cannabis users despite their location. This will come alongside good corporate governance and transparency.
The company is currently working on completing the construction of a 225,000 square feet Liberty 360 facility. This will accommodate a state-of-the-art processing and production space. The facility will also establish a state-of-the-art research and development lab. Completion of the Liberty 360 facility will enhance expansion of the company’s product line. Additionally, it will help in the provision of scientific and technical support to the company’s operations.
Liberty’s quick response to the short seller attack
As all this unfolds, Liberty has to deal with a short seller attack released by Hindenburg Research. Though unconfirmed, the allegations caused tension among investors who called for an overall review of the company.
However, Liberty was quick to respond and actually went ahead to release its quarterly financials. A statement from the company outlined a number of factual errors on the report by Hindenburg Research. This promoted Liberty to send a word of caution of investors asking them not to jump to conclusions.
