Vertically integrated cannabis technology company Generation Alpha, Inc. (OTCQB: GNAL) this morning announced its operating results for the three and nine months ended September 30, 2018. Among the highlights from the nine-month period, Generation Alpha reported $2.6 million in revenue from its lighting and nutrient offerings, as well as a cash balance of $2.1 million. The company also reported “substantial progress” with the construction of its Arizona facility, which is expected to commence processing revenue in early 2019. “We are happy with the progress being made at our 70,000 square foot Arizona facility. With manufacturing targeted to commence in early 2019, we are excited to soon move into the revenue generation stage,” Alan Lien, CEO of Generation Alpha, stated in the news release. “While our lighting business has seen a significant decrease this year, we are beginning to see an increase in demand for our lighting and nutrient products as the industry begins to stabilize and additional legalized states come on board.”
To view the full press release, visit http://nnw.fm/3hRcR
About Generation Alpha, Inc.
Generation Alpha, Inc. focuses on bringing products and solutions to commercial cannabis growers in both the medical and recreational space in legal markets across the U.S. For nearly a decade, growers have used Generation Alpha’s lighting solutions to increase yield, lower costs and grow better to maximize their return on investment. Generation Alpha’s customers include retail stores, distributors, ecommerce, and commercial growers. In 2018, Generation Alpha expanded into the “touch-the-plant” side of the cannabis business under a contract with an Arizona licensee and its ongoing build-out of a cultivation and processing facility in Phoenix, AZ. For more information, visit the company’s website at www.GenAlphaInc.com
More from NetworkNewsBreaks
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information please visit https://www.NetworkNewsWire.com