Kush Bottles Nears Listing after Securing Ticker Symbol
December 1st, 2015
News, Top News
Kush Bottles Inc., a leading supplier of customizable child-resistant packing solutions and accessories to the legal cannabis industry, recently announced that FINRA approved its 15c2-11 application and granted it the ticker symbol “KSHB” for a listing on the OTC Markets. With revenue that increased 135% to $4,013,571 in fiscal 2015, making it one of the fastest growing companies in the space, investors have been closely following the company’s upcoming listing.
“The granting of this ticker symbol is a huge milestone for our company,” said Kush Bottles Inc. Co-Founder and CEO Nicholas Kovacevich in a recent press release announcing FINRA’s decision. “We’re excited to continue to build upon the momentum we’ve gained in 2015, under the heightened expectations of transparency and excellence that comes with being a public company, as we build value for our customers, employees, and shareholders.”
The company specializes in supplying dispensaries, processors, and distributors with pop-top bottles, barrier bags, tubes, and other small-sized containers. With one of the industry’s largest product catalogs and over 100 million bottles sold, the company has become a leader in the burgeoning cannabis industry. Management plans to continue growing through the introduction of its own molds and intellectual property over the coming quarters.
In fiscal 2015, the company generated over $4 million in revenue with a 36% gross margin and a net loss of $339,303, or $0.008 per share, according to its 10-K SEC filing. Management plans to raise $1 million in capital in fiscal 2016 to support its expansion, while utilizing its $240,000 revolving line credit facility to finance its operating costs.
The company was recently named as an Inc. 5000 Fastest Growing Company in America and was the highest ranked company within the cannabis industry. In addition, it was named the 3rd fastest growing company in Orange County by the Orange County Business Journal.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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