SUGARMADE, INC. (OTCMKTS:SGMD) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
Sugarmade Inc., a Delaware corporation (the Company) makes the
following disclosures to Regulation FD.
On March 1, 2017, the Company plans to respond to numerous
investor inquiries concerning the status of its rollout Sriracha
Seasoning Stix. Thus, the Company believes some of the
information may constitute a material event to Section 13 or
15(d) of The Securities Exchange Act of 1934. Management plans to
update investors as follows:
Representatives and license partners of the Company are in
process of final inspection of one of the chosen contract
manufacturing facilities and equipment is currently being
delivered and installed in the satellite manufacturing facility
located in Los Angeles. On February 10, 2017, the Company signed
a lease for an approved culinary manufacturing facility, located
in Los Angeles, CA, in support of the planned launch. The Company
expects manufacturing equipment to be operational in Los Angeles
during the week of March 5, 2017.
Investors have asked numerous questions concerning advanced
website sign ups for product samples and free shipping upon
launch of Sriracha Seasoning Stixs. Thus far, the Company has
received 76,000 sign ups for free samples or free shipping.
Management believes recent positive press covering the pending
product launch has fueled the large increases in sign ups. The
Company is not prepared to announce an availability date at this
time, but is expecting to begin production during the month of
March 2017, with a product launch occurring very shortly
thereafter.
Management of the Company plans to discuss the above information
with investors over the coming days in response to numerous
inquiries.
The Company is making this Regulation FD Disclosure as it
believes the above is a material event to Section 13 OR 15(d) of
The Securities Exchange Act of 1934. Members of the Companys
management team will likely be presenting and discussing various
aspects of the agreement with suppliers, distributors and other
marketing and/or financial partners of the Company over the
coming days and weeks .
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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. SUGARMADE, INC. (OTCMKTS:SGMD) Recent Trading Information
SUGARMADE, INC. (OTCMKTS:SGMD) closed its last trading session 00.000 at 0.130 with shares trading hands.