LiveWire Ergogenics Announces Q3 2022 Financial Results Anaheim, CA, Nov. 16, 2022 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV),a company focused on acquiring, leasing, licensing, and managing special purpose real estate properties conducive to producing high-quality, handcrafted, and sun-grown specialty cannabis products for medical and recreational adult-use in California reports financial results for the third quarter 2022.
Bill Hodson, CEO of LiveWire Ergogenics, states, "At LiveWire, we continue to implement our business model of licensing, marketing, and managing the cultivation of high-quality handcrafted specialty cannabis products produced on our property Estrella Ranch in Paso Robles and Makana Ola in Humboldt that address increasing customer demand and command higher prices and profit margins. The past several months have been trying times for the cannabis industry, but we now seem to see early signs of a turn-round, at least for well-structured companies in the sector reflected in stabilizing share prices. Our financial results for Q3 2022 do not reflect the impact of our Estrella Ranch and Makana Ola harvests yet. The products resulting from this harvest are currently being converted into our “Estrella Weedery” ™ branded products and other brands for distribution through direct-to-consumer distributors and third-party private-label partners. Our nine months’ performance results are clearly establishing a trend, having generated the third consecutive profitable quarter for 2022, and we expect to generate a substantial increase in performance for Q4 2022 and the entire year. We project 2023 as our breakout year with significant increases in revenue and profits.”
Generated Three Profitable Quarters during 2022
Third Quarter Revenue in 2022 Increased by 51%
Nine Months Revenue in 2022 Increased by 183%
Nine Months Net Profit Increased by 107%
https://www.globenewswire.com/news-release/2022/11/16/2557338/0/en/LiveWire-Ergogenics-Announces-Q3-2022-Financial-Results-and-Reports-Third-Consecutive-Profitable-Quarter-in-2022.html