Post by
undervalue on Jul 27, 2022 4:47pm
Let me offer a humble translation
We seem to be able to grow stuff, but, we can't seem to sell it anymore.
We talked about our own brands years ago. But, we were too lazy to pursue it.
Now, darn it, we might have to actually do something. But, hey, we bonused out all the cash to ourselves, so, good luck with that...
We are now introducing new jargon to continue our pathetic shareholder communications babble including, but, not limited to " GAMEPLAN, NEW CHANNEL, MULTI PRONGED, OUTSOURCING MID STREAM, and the real beauty...PARALLEL DIRECT TO THE CONSUMER"
We are considering direct to market, we saw some roadside stands that might sell thru, but gosh their price is 50$ an oz.
In the meantime, it might be prudent to expect a very bad financial results...
Lotus Provides an Update for Shareholders Vancouver, British Columbia – July 27, 2022 - Lotus Ventures Inc. (CSE: J) (OTC: LTTSF) (“Lotus” or the “Company”), a licensed cannabis producer and wholesaler of premium cannabis flower in Canada is providing an update for its shareholders in regard to its sales and marketing strategy moving into the fall months of 2022. Lotus in its initial two years of production achieved high sales volumes and profitability in the cannabis flower B2B market. Over the past six months Lotus has experienced a slowdown in its wholesale business due to several factors, including but not limited to, wholesale partners exiting the B2B space to focus on the adult-use recreational market, wholesale partners being acquired by other companies, or producers exiting the cannabis space altogether. Lotus is well along on implementing its original gameplan of adding the retail market channel to its sales approach. This new channel provides for both higher margins and a diversification of sales. The Company also recognizes the current state of the Canadian cannabis industry and has adjusted its strategy to further diversify sales channels away from solely B2B sales. The Company is confident it will be able to fulfill the current market demand with its diversified multi-pronged sales approach. Production Update: Thus far Lotus has made great strides in producing top-shelf cannabis along with sourcing and developing first-to-market and exclusive strains (The Kalifornia and Tranquil Elephantizer), both of which have been sold at the BC Cannabis Store and the Ontario Cannabis Store, as well as at participating retailers. Lotus recently harvested its largest single lot of the Tranquil Elephantizer with an over 50% greater yield than original expectations and we continually strive to push the quality and yield to even newer highs. As Lotus obtained its Standard Processing/Sales license on September 8, 2021, the Company is working to obtain provincial sales SKUs. Lotus is currently looking at parallel direct-to-consumer packaging paths which include both in-house and outsourced options for these first steps. Outsourcing the mid-stream packaging and distribution responsibilities provides an expedited, and initially cheaper start-up capex. Direct-to-market creates additional sales channels and increases the margin potential without the need for a large capital influx. This in turn also reduces the volatility the industry has experienced in the B2B market. Lotus has some traction with the Tranquil Elephantizer currently being sold in BC and Ontario but is preparing for the future with more exclusive cultivars that have already been placed into production. The Company is taking the reins to build a recognized brand that reflects the Lotus quality and pride put into the product that is grown in BC. Lotus Steps Going Forward: Lotus has started two new very promising cultivars with expected average THC levels of 25% and VENTURES INC. expects the first harvests to reflect this. The Company is looking for consistent THC levels and to push the THC% ceiling of these new cultivars even higher. Upcoming harvests can be expected in late August with the potential to be ready to ship bulk product in mid to late October if packaged given no unforeseen delays. The Company is currently working to meet all supply chain requirements to achieve direct-toconsumer sales in the shortest time frame possible. (Registrations, Applications, vendor relations, compliance). With a long-term focus on the BC, Alberta, and Ontario markets, Lotus has continued to evolve its sales strategy into a multi-pronged approach which should effectively increase sales in all channels while improving the internal control for Lotus. The Company initially expects SKUs to be applied .....blah , blah blah.