Great News! https://web.tmxmoney.com/article.php?newsid=8304685070672680&qm_symbol=CMM
Canabo Medical Achieves Positive Cash Flow and Enjoys Record Growth
(via TheNewswire)
October 3, 2017 / TheNewswire / Vancouver, BC - Canabo Medical Inc. (TSXV: CMM) (OTCQB: CAMDF) ("Canabo" or the "Company") is pleased to report that management has determined that the Company is cash flow positive for August and anticipates continued positive growth for the remainder of the fourth quarter 2017.
The Company's year over year increases (for the 9 months ended July 31, 2017 and 2016) demonstrate growth in the following areas:
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- 82% increase in clinic revenue
- 154% increase in research revenue
- Overall revenue doubled (100% increase)
- Clinics have increased from 10 to 19
- Patient base has more than doubled, from 10,000 to over 25,000 patients
The trend is continuing into the 4th quarter with:
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- Canabo setting a record of more than 1270 new patient appointments in August
- Canabo physicians seeing in excess of 3,000 new and recheck patients monthly and expecting total patient appointments for fiscal 2017 to exceed 50,000
- Canabo holding numerous Continuing Medical Education seminars reaching in excess of 1,000 referring physicians across the country
John Philpott, Canabo's CEO commented "We are delighted that the Company is now cash flow positive and enjoying the fastest rate of growth since inception. We have been working diligently to build a national network of clinics and emphasize the importance of growth within our cannibinoid research partnerships."
About the Company