SUGARMADE, INC. (OTCMKTS:SGMD) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure
Sugarmade Inc., a Delaware corporation (the “Company”) makes the following disclosures to Section 13 or 15(d) of The Securities Exchange Act of 1934, generally referred to as Regulation FD Disclosure.
On March 29, 2018, the Company informs its investors and the marketplace of its intent to begin discussing expected revenues for future periods. The Company believes this revenue guidance, which is outlined below, is material and likely requires disclosure under Regulation FD.
Sugarmade is expecting strong revenue growth as a supplier to the growing cannabis industry. The Company does not transact in cannabis or in any products containing cannabis. During the month of March 2018, the Company began recognizing several new revenue streams, with this trend likely to accelerate for the foreseeable future. Expected growth it is targeted to exceed expected industry growth rates.
For the Fiscal Year ending June 30, 2019, the Company expects to report revenues exceeding $30 million. The Company plans to provide its investors and the marketplace additional information regarding this revenue guidance in additional public releases, as appropriate.
FORWARD-LOOKING STATEMENTS:The above information contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid.They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited toeconomic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contain below.
About SUGARMADE, INC. (OTCMKTS:SGMD)
Sugarmade, Inc. is engaged in the supply of products to the quick service restaurant sub-sector of the restaurant industry. The Company is a distributor of paper products derived from non-wood sources. As of June 30, 2015, the Company’s operating unit, CarryOutSupplies.com, which is a producer and wholesaler of custom printed and generic takeout supplies served more than 3,000 quick service restaurants. It conducts its operations in an industry segment, including paper and paper-based products, such as paper cups, cup lids, food containers and others. Its products also include double poly paper cups for cold beverage, yogurt cups, ice cream cups, soup containers and plastic spoons. It is a manufacturer and distributor of tree free copy and printer paper products, made from sugarcane waste (bagasse) and bamboo for home and office environments under the Sugarmade brand name. It has also acquired a minority stake in various patents and products for seasoning and spices for food items.