Sales Increased 60% from Prior Year’s Results of Alternative Solutions
CLS Holdings USA Inc. (OTCQB: CLSH) (CSE: CLSH), the ”Company” or ”CLS”, a diversified cannabis company operating as Cannabis Life Sciences, today highlighted its financial and operational results for the 4/20 weekend in Las Vegas, NV. The term “420” began as a counterculture code for consuming cannabis and eventually evolved into the legal industry’s unofficial holiday celebrating the end of cannabis prohibition. It has historically been the largest single sales day in the legal cannabis industry.
- CLS Holding’s Oasis dispensary saw record 4/20 weekend sales of $104,454.00 up 60% from last year’s results of Alternative Solutions, LLC
- The dispensary serviced a record 924 customers on April 20, 2019
- Revenue on April 20, 2019 of $46,000.00 vs Revenue on April 20, 2018 of Alternative Solutions, LLC of $30,000.00
- Gross margin over the three days increased from 40% for Alternative Solutions, LLC in 2018 to 50% in 2019
- Customer Count over this time period increased from 1,295 in 2018 to 2,147 in 2019
CLS’ Oasis Cannabis Dispensary generated revenues of $104,454 during the 3-day period, which is an improvement of 59.7% over the revenues of Alternative Solutions, LLC, which was a privately held company during the comparable 3-day period of the previous year. Alternative Solutions was acquired by CLS Holdings USA, Inc. in June 2018. The Oasis Cannabis Dispensary, located in Las Vegas, Nevada, recently completed a renovation and grand reopening, just in time for the 4/20 “holiday.” This allowed the dispensary to accommodate more customers without significantly impacting wait times. The medical and retail cannabis store in Las Vegas serviced 924 customers on April 20th, 2019, a new record that surpassed even the number of customers on July 1, 2017, the day legal cannabis sales began in Nevada.
Gross Margin also improved by 25% compared with the previous year’s results for Alternative Solutions, LLC. CLS attributes this gain to improved purchasing power and the implementation of strategic supply-chain management. “The company has been working to solidify supplier relationships and leverage its purchasing power to provide great value for our customers, while boosting the bottom line at the same time,” said Andrew Glashow, President and COO
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company that acts as an integrated cannabis producer and retailer through its Oasis Cannabis subsidiaries in Nevada, and plans to expand to other states.
CLS stands for ”Cannabis Life Sciences,” in recognition of the Company’s patented proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company’s business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services.